Seattle Bubble Forum Archive

by **Alan** » Mon May 28, 2007 8:57 pm

A house in my neighborhood recently sold for $700k and immediately went up for rent. It is around 1200 square feet. I do not understand these business decisions. It looks like the buyer owns two other properties in King County.

The previous owner bought it in 2005 for just over $400k.

by **EastSider** » Mon May 28, 2007 9:37 pm

Wow, that's close to $600/sqft.
Where is this home located?

by **Jazen** » Tue May 29, 2007 4:49 am

If I had to hazzard a guess into the mind of a flipper, buy now when you can still get a wacko loan, rent during the slow-down, then next year when EVERYONE says it's supposed to pick up (sales pace), sell for a huge profit, should be worth 1.4 mil. Greed is predictable.

by **Alan** » Tue May 29, 2007 8:06 am

It is in south Bellevue.

by **Lake Hills Renter** » Tue May 29, 2007 9:16 am

by **Alan** » Wed May 30, 2007 11:03 pm

by **biliruben** » Thu May 31, 2007 10:27 am

Nice work, Alan.

What's the area?

I might take a gander at the Cedar Park area if I find some time.

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