Thank you to "Ms. Jupiter" for providing this one. In the vast majority of these daily F@cked Buyer postings, the "buyer" has little or no money invested in the home. The real risk and often the real losses come from the lender. However, in this case, it appears there is only a $500,000 mortgage outstanding on the home.
2340 48Th St, Lighthouse Point, FL 33064
- 3 Bed, 2 Bath SFH
- Bought in May 2005 for $1,100,000
- On the MLS for $999,999
- Days on the MLS: 283 Days
- Loss before the Realtor® commission: $100,001
- Loss after the Realtor® commission: $160,001
New request: I am looking to highlight "buyers" that have multiple distressed properties for sale. If you know of any, please provide a link or MLS listing to one of their properties and I'll look up the rest. I want to highlight some of speculators that were caught holding multiple properties.
Stumble It!
4 comments:
SFHB,
I think there is something wrong with the link to bcps on this one. When I click on it, it goes to realtor.com.
I looked long and hard at this property in Feb, as I was looking for a lease/option.
Nice lot, but it is a LONG way to the intra coastal and the house, although remodeled is weird. Galley style kitchen is small and on the street side.
The moron who owns the home on a mirror lot (tear down material) across the canal on same street wants as much for his as this guy.
At least this one is a livable house. No pool either.
In my opinion its worth about what he owes on it.
Thanks. I fixed the link.
This guy is losing about $90k per year, cost of holding.
Come spring he will have lost about $270k so far out of pocket.
He would have been wise to have sold for $750k last year, and cut his losses.
A multiple property owner mentioned previously is David Carpenter. We will know the depth of his troubles as the 07 taxes come due.
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