trying to beat the market

In Shadow Hills - 5771 N Camino De La Sombra last sold for $630,000 in May 2007.

One year later, in June 08, it was listed for $799,000. Ho-Ho-Ho!
Today, still unsold after many price cuts, it’s available for $564,500.
(Listed by Tierra Antigua Realty)

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Comments

[john schneider]

Thanks James for catching that. I missed it since the foreclosure sale did not go thru the MLS. But, now, looking at the tax records I see the foreclosure sale on 7/29 for $431,501, and the house was back on the market for $599k on 8/2. Not much time for freshening up.
JS

[Stuart]

Don't know what they paid for it in foreclosure, but in this price range they will probably find a buyer since it appears to be a very nice home and not overpriced here.

After saying this, in this kind of market it is a bit risky to buy in foreclosure for a "quick flip". If you buy right and can put some money to freshen the home up a "flip" is possible...but let's not talk about a "quick flip"...how about a "eventual flip"?

[James Lawton]

Hi John, this property was actually bought in foreclosure a few months ago. The buyers slapped a fresh coat of paint on it and cleaned up the yard and promptly relished it, hoping for a quick flip.