Here's another one with a head-scratching purchase price. I guess purchase prices like this are the result of 100% financing. I can guarantee you that no one would have paid $225,000 for this home had they been required to put 10% ($22,500) down. It is now been foreclosed on based on the listing agents notes. It is being offered for 58% below its purchase price.
1109 S 15TH AV, Lake Worth, FL 33460
- 2 bedroom, 1 bath SFH
- Bought in September 2006 for $225,000
- On the MLS for $94,900
- Days on the MLS: 16 Days
- Loss before the Realtor® commission: $130,100
- Loss after the Realtor® commission: $135,794
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I attended the large auction of foreclosure properties on Miami Beach yesterday, it was standing room only at the start of the auction. I will post more later about some of the particular properties that were auctioned off.
Another one.
Huge diff between sq. footage on bcpa.net and mls
http://homes.realtor.com/realestate/fort+lauderdale-fl-33315-1085473897/
http://bcpa.net/RecInfo.asp?URL_Folio=504215014580
8556 NW 111 CT, MIAMI, FL 33178
* 4 Bed, 4 Bath., SFH
* Bought in March 2006 for $750,000
First listed on 8 March 2007 for 745k. Reduced 8 times to 620k. Taken off the market. Now bank-owned. Relisted by the bank on 09/27/07 for 675k. Now reduced to 635k.
Good luck. It will struggle to sell for 500k+.
could this woman be a knife catcher? she just (11/2007) bought at 12500 SW 75 ST MIAMI FL for 875k (home has 4,077sq. ft.). So she purchased at 215/sqft.
The homeowners two house down, with a very similar house bought in 2005 for 925k (3977 sqft) or 235 / sqft. The 2005 buyers are now looking at an equity loss of 75k based on a comp right next door. Given that they have not paid their 06 property taxes, it will be interesting to see if they walk away from the home (they had their house listed earlier in the year for 1.1mio). If they do go, that could just turn the "steal" for 875k into a pretty expensive transaction.
I may also add that 2 other houses in the area are in foreclosure.
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