3002 NW 4TH TE # 4, Pompano Beach, FL 33064
- 2 Bed, 2 Bath Condo
- Bought in June 2006 for $185,000
- On the MLS for $78,812
- Days on the Market: 12
- Loss before the Realtor® commission: $106,188
- Loss after the Realtor® commission: $110,917
Saturday, October 27, 2007
Today's F@cked Buyer (Pompano Beach)
Remember when people used to mock those of us who said there would be 50% drops in property values? Well, we're starting to see more and more drops in excess of 50% already now, many months (years?) before the eventual bottom. This one is 57% off it June 2006 purchase price.
3002 NW 4TH TE # 4, Pompano Beach, FL 33064
3002 NW 4TH TE # 4, Pompano Beach, FL 33064
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1 comment:
Don't feel too sorry for the buyer. A quick check of records shows that the home was purchased with zero down and within a year was being foreclosed by both the homeowners association and the lender. This is an all too common scenario where individuals who had no intention of paying back the loans took advantage of greed and stupidity on the part of lenders. This will cost all of us in the end, except the individuals that saw an opportunity and took advantage of it.
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