Asking less than last sale
If you see houses that are asking less than the last sale, post them here.
I thought this one was cute:
http://redfin.com/stingray/do/printable-listing?listing-id=1005800
Purchased 5/30/2006 for $330k. Asking $299k. On Beacon Hill.
Edit:
I did a little public records research on this house. The owner is a very active investor who has bought and sold five houses since 2002 for a "profit" of $640k (I put profit in quotes because I do not know how much he spent outside of the purchase price).
He still has $1.9M invested in eight properties around town.
So we have an active investor who seems to know what he is doing willing to lose 10% on an investment. It sounds like the smart money is very eager to get out of the market.
I thought this one was cute:
http://redfin.com/stingray/do/printable-listing?listing-id=1005800
Purchased 5/30/2006 for $330k. Asking $299k. On Beacon Hill.
Edit:
I did a little public records research on this house. The owner is a very active investor who has bought and sold five houses since 2002 for a "profit" of $640k (I put profit in quotes because I do not know how much he spent outside of the purchase price).
He still has $1.9M invested in eight properties around town.
So we have an active investor who seems to know what he is doing willing to lose 10% on an investment. It sounds like the smart money is very eager to get out of the market.
Comments
I already posted this in a comment on the blog, but having a thread full of them will be a great way to track how low prices actually go.
http://www.redfin.com/stingray/do/print ... -id=821077
Sold last year for $636k, now being offered $625k.
I'm not trying to derail the intent of this thread but it sounds like what you guys are up to is something like the Flippers in Trouble blog for Sacramento. It would be great to do something similar for Seattle?
If you believe that Seattle is just "late to the party" this site should be of interest. Take a look at the hit some of these people are taking!
SACRAMENTO AREA FLIPPERS IN TROUBLE
..
The most accurate way is to use public records. If that is incorrect then the people in the transaction are commiting tax fraud.
http://www5.metrokc.gov/parcelviewer/Viewer/KingCounty/Viewer.asp?App=Parcels&SearchFor=Addstart
http://www.metrokc.gov/recelec/records/
I think that this is one of the sources where Zillow, Redfin and the rest get their information.
Here's a Highland Park 1940's house on the market for 94 days:
http://redfin.com/stingray/do/printable ... -id=723527
Bought on 09/18/2006 for $305k; now begging for $279k.
"Bring all Offers!"
Doesn't sound like a flipper, or perhaps just not a very good one...