2207 DRIFTWOOD Cir, Palm Beach Gardens, FL 33410
- 3 Bed, 2 Bath, SFH
- Bought in May 2005 for $1,205,000
- On the MLS for $999,000
- Loss before the Realtor® commission: $206,000
- Loss after the Realtor® commission: $265,940
Thursday, August 23, 2007
Today's F@cked Buyer (Palm Beach Gardens)
Thank you to a reader who provided this one. This house has languished on the market for 216 days eventhough it is priced over $200,000 below its 2005 purchase price.
2207 DRIFTWOOD Cir, Palm Beach Gardens, FL 33410
2207 DRIFTWOOD Cir, Palm Beach Gardens, FL 33410
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6 comments:
For those of you that have a ziprealty.com account, you can check out pictures of this property that show up on their site, but not on realtor.com. Here's the link:
http://www.ziprealty.com/buy_a_home/logged_in/search/home_detail.jsp?listing_num=R2765842
Also note the seller agent notes that says, "Owner paid $1,350,000," even thought they *only* paid $1,205,000.
It also says the property needs remodeling. You'd think $1M would buy a home that doesn't require remodeling.
No worries. The Zestimate™ on this house is $1,477,916.
It sounds like a bargain!
I looked up the mortgage and there appears to be two on for $1 million http://oris.co.palm-beach.fl.us/or_web1/details.asp?doc_id=15204686&file_num=20050589317 and a second HELOC for $500,000 http://oris.co.palm-beach.fl.us/or_web1/details.asp?doc_id=16113312&file_num=20060656382
Plus he has not paid the biulder and the builder is attempting to foreclose http://oris.co.palm-beach.fl.us/or_web1/details.asp?doc_id=16249353&file_num=20070067918
How can you see how long property has been on the MLS? Do you have to be a realtor to access that info? I research listings on realtor.com and it does not show how long homes have been there. Would be very helpful. Thanks.
"How can you see how long property has been on the MLS? Do you have to be a realtor to access that info? I research listings on realtor.com and it does not show how long homes have been there. Would be very helpful. Thanks."
I would suggest ziprealty.com, they show you the original listing date and the dates of any price reductions. You need to register with them, so get a free e-mail address with hotmail or yahoo or such, if you don't want to compromise your main mailbox. They don't send out much spam, I only get about 2 e-mails a month from them.
Not sure as to why zip realty shows that. Obviously, Realtor.com IMO has no intent in showing how long the property has stagnated. However keep in mind that if the property has been listed forever, the illusionists will take it off and re-list soon after.
Stevenpatrick is correct; ziprealty.com is the best way to find out data like that.
Another advantage of Ziprealty is it shows selling agent comments -- comments that are intended for realtors only. There are often interesting comments about impending foreclosures, short sales, extra motivated sellers, etc. I have even seen lockbox combinations included in the comments.
Ziprealty also shows list price reduction along with date, which is also interesting.
I discuss this and other resources back in an early post you may want to check out:
http://www.soflahousing.com/2007/07/researching-local-listings.html
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