Audacious Flips and Renovations

[WestSideBilly]

This has to be one of the weirder listings I've seen. Not even sure it's audacious.

http://www.redfin.com/stingray/do/print ... id=1498493

Sold 3 times in the last 2 years, each time at a lower price, then listed for significantly above its 2006 sale.

[redmondjp]

[WestSideBilly]

[geon]

I was wondering when this one would relist. Audacious price of 1 mil when it was listed last year, now reality hits. Well, at least heading in the right direction to reality. Not Seattle, Kent.

http://www.redfin.com/stingray/do/print ... id=1512049

[Alan]

At least $175k off of $1M is actually a dramatic price reduction.

[WestSideBilly]

[pumpkin]

OK, one more just came on tonight:

http://redfin.com/stingray/do/printable ... id=1521095

10616 8th Ave NW
Seattle, WA 98177

They're asking for $170K profit in 4 months.

[mike2]

7009 26th Ave NE
Seattle, WA 98115
Asking Price: $574,950
Last sale: Sep 21, 2006 $453,501

$25,000 Temporary Price Reduction!!!! Sure it is...

Also available for rent on Craigslist for $2100/mo.

http://www.redfin.com/stingray/do/print ... id=1439007

[ayles]

[Markor]

[ayles]

I am really not sure what the deal is. I have lived near it for over 3 years. The family moved out last summer. Sold, then was quickly remodeled and new for sale sign popped up around August. Redfin says days on market is 189!

Listing Price History
Date Price
Sep 11, 2007 $569,950
Oct 02, 2007 $554,950
Oct 23, 2007 $545,000
Jan 29, 2008 $535,000
Mar 10, 2008 $514,950

Whats even more interesting is the sales history. They took a hit at the peak. Not sure how they managed that one.

Sales History
Date Price Appreciation
May 15, 1986 $73,500 --
Jul 31, 2006 $467,500 9.6%/yr
Jul 03, 2007 $411,000 -13.0%/yr

One issue that comes to mind is that 65th is pretty damn busy. People are consistantly driving at or near freeway speeds. The garage has also been blocked off. Obvious from the outside.

The house is fully staged and was painted in the last week or so. Here is an updated photo.


Speaking of Ballard... I walked from 65th to 70th the other day. Hit each block in between. There are some serious dumps in this neighborhood. Some even look like they could be condemned. I don't get all the hype.

[pumpkin]

I saw this house -- 65th is super busy, the yard is miniscule, and it just seemed like a flip to me. I tried to avoid all flips (not interested in their granite -- the flips always made me wonder what they were hiding).

[WestSideBilly]

[kgcore]

[mike2]