Thank you to a reader who sent me this Parkland foreclosure. During its 83 days on the market, the Bank of New York has dropped this home's price five times from its original listing price of $921,900. Now it's priced 43% below its purchase price only 20 months ago.
6502 NW 66TH WY, Parkland, FL 33067
- 4 bedroom, 4 bath SFH
- Bought in February 2006 for $1,334,000
- On the MLS for $758,900
- Days on the MLS: 83 Days
- Loss before the Realtor® commission: $575,100
- Loss after the Realtor® commission: $620,634
Stumble It!
9 comments:
But but but......dr danni says prices will only fall 5%!!!
Like o-my-gawd!
Preforeclosure
402 MACCHI AVE , Oakland FL 34787
MLS ID: O4815226
11/2007 List: $395,000.00
9/2006 Purchased: $485,000.00
Loss: $90,000.00
Loss After Commission: $113,700.00
http://www.ocpafl.org/docs/record_search.html
A number of houses are for sale in this 400 block of Macchi Ave. Looks like ground zero for amateur flippers in Orange County.
140,
I'd love to agree with you, but here's what she actually said in response to my question yesterday:
"So in my opinion, those areas in Florida will fall more than 5% I feel the national average has to go.. perhaps closer to 10 to 20. I believe my home state will also suffer such fate. (California)"
She said that national prices would fall 5% FROM TODAY, and So. Fl will fall 10-20%.
She's a lot more optimistic than I am, but I do have to be fair with what she's actually saying.
el a,
Fair enough, but with all the negativity that came from her camp yesterday, I'm just a little p.o'd yet.
Parkland house mortgaged for 1.2 million. So this f@cked buyer lost more than $11,000 a month for the 12 months he was in the house before he defaulted.
Know what kind of house you can rent for $11K a month. Stupid, f@cked buyer!
Another f@cked buyer (actually a f@cked REFINANCER):
22469 Middletown Drive
Boca Raton, Fl 33428
11/2007 List: 299,000
11/1997 Purchased: $124,000
BUT... refinanced mutiple times, now owes AT LEAST $280,000
Loss: Closing costs, plus all those expensive upgrades!
To steal a line from a VISA commercial:
Cost to buy in Boca 10 years ago: $124,000
Total current mortgage: $280,000 plus!
Living in a house for 10 years and having no equity: PRICELESS!
(source: http://oris.co.palm-beach.fl.us/or_web1/details.asp?doc_id=15612361&file_num=20060181445)
source: http://www.pbcgov.com/papa/aspx/web/detail_info.aspx?p_entity=00414727050000820&geonav=Y&styp=general&owner=&city=-1&zip=&method=address&cidx=-1&sdiv=&sdivnam=&stno=22469&pdir=&st=middletown&strnm=&sufx=&ptdir=&cty=&rng=&twp=&sct=&blk=&lot=&book=&page=&tangid=&condo=&condoname=&use=&usnam=&sloc=&prd=&pedir=&podir=&famt=&tamt=&fsqft=&tsqft=&srt1=&srt2=&srt3=&stpage=0&adlfilter=
http://homes.realtor.com/search/listingdetail.aspx?zp=33428&mnp=25&mxp=24&bd=4&typ=1&sid=962b17769ea94aa2beeb9fe23532f747&pg=5&lid=1092205463&lsn=42&srcnt=50#Detail
Another f@cked buyer:
12890 Mapleton Court
Boca Raton, Fl 33428
MLS ID: R2842423
Asking price: $398,950
Bought 3/2006: $490,000
Loss: $91,050
Loss after commission: $114,987
Granted, this dude overpaid for this house but now he's taking a 19 PERCENT HAIRCUT.
And this is in West Boca Raton, the place that's supposed to be perfect and where house values never go down. Yeah, right.
http://www.pbcgov.com/papa/aspx/web/detail_info.aspx?p_entity=00414727050000940&geonav=Y&styp=general&owner=&city=-1&zip=&method=address&cidx=-1&sdiv=&sdivnam=&stno=&pdir=&st=mapleton&strnm=&sufx=&ptdir=&cty=&rng=&twp=&sct=&blk=&lot=&book=&page=&tangid=&condo=&condoname=&use=&usnam=&sloc=&prd=&pedir=&podir=&famt=&tamt=&fsqft=&tsqft=&srt1=&srt2=&srt3=&stpage=0&adlfilter=
Hi Everyone, i would just like to make an say hello to all the people at southfloridahousingbubble.blogspot.com
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I was on the prowl some info and was searching on Ask Jeeves for it. I visited each of the top 5 pages that came up but didn?t get any relevant result... I then luckily found your diamond forum in the dirt and thought to check it out. This is exactly what I was looking for - what a delightful find!
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