click map to enlarge
It all started with 5775 N Campbell Ave, # 1 up there
Built in 1973, it sold in 2003 for $1,325,000 with 6.8 acres of land. And just 6 days later it went back on the market, sans 5+ acres, for $1,599,000. It’s true. They stripped off 5+ acres, added $274,000 to the price they had just paid and expected someone to come along and buy it. The 5+ acres were split off and split up to build new spec homes.
And along the way, no one bought it, and 5775 went into foreclosure and after a long haul sold this February for $660,000- that's after 5+ grueling years on the market.
Meanwhile, a few spec homes were built on the 5+ acres and 2 of them also ended up as short sales. So now you had this cute little enclave of 5 or 6 homes, but 3 of them were either in short sale or foreclosure. And they were vacant and the weeds and the elements were taking over. And the 2 that weren’t in distress, were, I’m sure, suffering from the dark cloud hanging over the 3 that were.
And I wondered, skeptically and on this blog, who, what buyer was going to step forward and make the first move to buy the first of those 3 distress sales.
Well some brave soul did. In February they bought 5775, the mother ship. And that, I guess, got the ball rolling.
then #’s 2 & 3 went.
5759 N Campbell Ave, built 2004, sold in April as a short sale for $540,000. That was after nearly 2 years from an original $935,000 asking price.
and now, 5771 N Campbell Ave, built 2006, - the house that’s gotten so much attention on this blog recently – sold today for $860,000, also as a short sale after about 18 months.
But all that's now in the past. And finally, after 5+ years of comings and goings of lookers & buyers & agents & who knows what, all the homes are owned & occupied by people who care about them. And with a little spit and polish, this enclave off Campbell Ave can finally begin to enjoy life as a nice, normal and uneventful little community.
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