Another 90402 REO *Update 1*

I last featured 434 17th back in late October when it was listed as a Wells Fargo REO.

REO Listing: 10/26/11 - $1,699,900

A helpful reader said there was a first and second mortgage on the property totaling nearly $1.8mm.

At the time of my last post I said that I did not think this would sell for any type of great discount and I welcomed the continual clean up of distressed inventory.

SOLD: 12/20/11 - $1,725,000

This was on the market for just 9 days before going into escrow and eventually selling over list price. Like I said, probably no great bargains here, and once again we see properly priced inventory able to clear the market quickly.