I think rezoning can be tricky. Lots of insider access involved - methinks.
As far as greed, yes -I'd agree. They planned to build and then probably got cold feet based on a combination of weak market and lack of access to financing. So they're trying to get part of that "guaranteed" profit
I see places in Seattle that the builder is trying to charge for "plans and permits". Sorry, that was your plan...
I can't even figure out what is happening here. Bank sale on July 2008? But King County records list an individual as the owner. Why would anyone bother to list at $699, when it sold in 2007 for $550k? .
Date Event Price Appreciation Source
Jan 18, 2009 Relisted -- -- Oodle #1100661653
Nov 14, 2008 Listed $699,000 -- Oodle #1100661653
Jul 01, 2008 Sold $593,250 14.3%/yr Public Records
Jun 09, 2008 Off Redfin * -- Inactive NWMLS #6
Jun 03, 2008 Relisted * -- Inactive NWMLS #6
May 28, 2008 Off Redfin * -- Inactive NWMLS #6
May 08, 2008 Price Changed * -- Inactive NWMLS #6
Feb 04, 2008 Listed * -- Inactive NWMLS #6
Dec 17, 2007 Listed * -- Inactive NWMLS #5
Dec 07, 2007 Sold $550,000 >1,000%/yr Public Records
Oct 02, 2007 Sold $159,874 -34.9%/yr Public Records
Sep 22, 2004 Sold $585,950 -33.4%/yr Public Records
One down the street just got lowered yesterday from $650 to $499 after 451 cumulative days on the market.
Here's a flipper in my neighborhood in south Federal Way near Enchanted Village. I watched it when it was marketed by the bank a few months ago, and saw it bought for $175K at the end of January. The flippers stormed in with paint and granite countertops, and a little more than a month later, they will be happy to sell you this house for $275K!!
Why does anyone put the statement "instant equity" in their listings these days?
Because real estate agents are really slow learners?
LOL. I was just thinking that you can only really put that in if you are an agent. Kind of like how Chris Rock can make fun of black people and Woody Allen can make fun of Jews.
Jan 30, 2009 Sold $220,000
Mar 25, 2009 Listed $298,950
Bungalow shell house ready to be adapted to whatever ideas you may have. This house has a new roof but is open to bare studs otherwise. A plan has been drawn for a classic bungalow 3 bedroom arrangement within the existing walls. This is approximately a 5000sf lot. Owner is a licensed elecrician but house is being sold as is with no waranty given or implied.
This home is sold as is. .. gutted and ready for your designs. Sold with specs, permits and plans. What a great opportunity for a builder at this price as work already done gutting this property!
If this is such a great opportunity, why doesn't the current owner just finish it?
May 12, 2009 Price Changed $409,0001
Apr 13, 2009 Listed $425,000
Dec 04, 2008 Sold $256,000
May 26, 2004 Sold $300,000
What did they do in 4 months to justify that $169k markup? I don't know, because there are NO photos of anything other than the exterior or the kitchen. someone was kind enough to dump their shoes in the kitchen before the photo was taken, though:
Jan 30, 2009 Sold $220,000
Mar 25, 2009 Listed $298,950
Bungalow shell house ready to be adapted to whatever ideas you may have. This house has a new roof but is open to bare studs otherwise. A plan has been drawn for a classic bungalow 3 bedroom arrangement within the existing walls. This is approximately a 5000sf lot. Owner is a licensed elecrician but house is being sold as is with no waranty given or implied.
Comments
As far as greed, yes -I'd agree. They planned to build and then probably got cold feet based on a combination of weak market and lack of access to financing. So they're trying to get part of that "guaranteed" profit
I see places in Seattle that the builder is trying to charge for "plans and permits". Sorry, that was your plan...
If you can't get the loan to build it out, and right now you likely can't, the value of the land drops through the floor.
Unless you can find a knife catching "investor" who has never seen a down market before, and is looking for a "bargain".
http://www.redfin.com/WA/Seattle/2714-3 ... ome/328441
12 151st Pl SE
Bellevue, WA 98007
http://www.redfin.com/WA/Bellevue/12-15 ... ome/426774
* Sold Oct 29, 2008 $350,000
* Less than a month of renovation.
* Listed Nov 22, 2008 $449,950
http://www.redfin.com/WA/Seattle/7471-C ... ome/306177
Is parquet the new hardwood?
Butter!
http://www.redfin.com/WA/Seattle/1119-L ... me/2093054
Jan 23, 2009 Listed $414,900 -- Oodle #1187884571
Jan 23, 2009 Listed * -- Inactive Oodle #2
Jan 21, 2009 Off Redfin * -- Inactive NWMLS #1
Oct 13, 2008 Price Changed * -- Inactive NWMLS #1
Sep 26, 2008 Price Changed * -- Inactive NWMLS #1
Sep 07, 2008 Listed * -- Inactive NWMLS #1
May 15, 2006 Sold $1,250,000 -- Public Records
http://www.redfin.com/WA/Renton/712-Lin ... ome/230046
Price: $699,000
Date Event Price Appreciation Source
Jan 18, 2009 Relisted -- -- Oodle #1100661653
Nov 14, 2008 Listed $699,000 -- Oodle #1100661653
Jul 01, 2008 Sold $593,250 14.3%/yr Public Records
Jun 09, 2008 Off Redfin * -- Inactive NWMLS #6
Jun 03, 2008 Relisted * -- Inactive NWMLS #6
May 28, 2008 Off Redfin * -- Inactive NWMLS #6
May 08, 2008 Price Changed * -- Inactive NWMLS #6
Feb 04, 2008 Listed * -- Inactive NWMLS #6
Dec 17, 2007 Listed * -- Inactive NWMLS #5
Dec 07, 2007 Sold $550,000 >1,000%/yr Public Records
Oct 02, 2007 Sold $159,874 -34.9%/yr Public Records
Sep 22, 2004 Sold $585,950 -33.4%/yr Public Records
One down the street just got lowered yesterday from $650 to $499 after 451 cumulative days on the market.
Andy5925 - BANNED!
May 07, 2003 Sold $2,800,000
Aug 03, 2007 Listed $5,900,000
Feb 04, 2009 Price Changed $1,470,000
Aug 04, 2008 Listed $1,595,000
Apr 20, 2004 Sold $875,000
http://www.redfin.com/WA/Federal-Way/25 ... ome/362948
http://www.redfin.com/WA/Seattle/3550-S ... ome/150722
Sold Jan '08 $607000
Listed Dec '08 $849500
Stand granite/stainless refurbish. Pink Ponies alive and well!
Why does anyone put the statement "instant equity" in their listings these days? Kind of like walking around with a kick me sign on your back.
Because real estate agents are really slow learners?
LOL. I was just thinking that you can only really put that in if you are an agent. Kind of like how Chris Rock can make fun of black people and Woody Allen can make fun of Jews.
Why does anyone list a property with a 25% markup in less than a year in our current market?
It's like they don't realize what's happening...
Mar 25, 2009 Listed $298,950
Bungalow shell house ready to be adapted to whatever ideas you may have. This house has a new roof but is open to bare studs otherwise. A plan has been drawn for a classic bungalow 3 bedroom arrangement within the existing walls. This is approximately a 5000sf lot. Owner is a licensed elecrician but house is being sold as is with no waranty given or implied.
Charging $78,950 for gutting the house.
http://www.redfin.com/WA/Seattle/6042-7 ... ome/493931
Now it is back on the market at $789K.
http://www.redfin.com/WA/Seattle/4550-P ... ome/320107
You've got to admire the moxie, I guess. Listing ppsf is $451, a 53% premium over comps. Best of luck to you, NGS Partners LLC.
Wow! That's a difference of $296K. In most places, the would buy you a brand new house. What are they thinking?!
A new sucker born every minute? Willing to part with their hard-earned bailout bucks?
Sold in Feb for $525,000
Now only $330,000 !!!
This home is sold as is. .. gutted and ready for your designs. Sold with specs, permits and plans. What a great opportunity for a builder at this price as work already done gutting this property!
If this is such a great opportunity, why doesn't the current owner just finish it?
http://www.redfin.com/WA/Seattle/1610-P ... ome/150837
http://www.redfin.com/WA/Seattle/5322-4 ... ome/152379
Got Grotto?
Nice floors!
May 12, 2009 Price Changed $409,0001
Apr 13, 2009 Listed $425,000
Dec 04, 2008 Sold $256,000
May 26, 2004 Sold $300,000
What did they do in 4 months to justify that $169k markup? I don't know, because there are NO photos of anything other than the exterior or the kitchen. someone was kind enough to dump their shoes in the kitchen before the photo was taken, though:
http://media.cdn-redfin.com/photo/71/bi ... 31_1_5.jpg
Price: $495,950
6042 7th Ave NW Seattle, WA 98107 MLS#: 29037744
The list price was "$298,950" and changed to "$495,950"
Someone must think "It'd be cheap at twice the price!" is a strategy and not a figure of speech.
Is that sentence suppose to speak peace to a buyer's mind?