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Is the opposite of a flip a flop?

Posted on June 17, 2008August 19, 2008 by The Tim

I want to take a moment to highlight a thread in the forums that was started yesterday. Deejayoh’s topic, “What’s the opposite of an audacious flip?” highlights a handful of interesting examples of homes on the market in Seattle right now that have asking prices tens of thousands of dollars less than what they sold for in 2006 or 2007.

  • 4125 SW 107 S Seattle, WA 98146 – Asking: $674,950 – Sold 01/2007: $750,000
  • 10016 California Ave SW Seattle, WA 98146 – Asking: $559,000 – Sold 07/2006: $559,000
  • 9833 45th Ave SW Seattle, WA 98136 – Asking: $779,000 – Sold 05/2006: $850,000
  • 9412 35th Ave SW Seattle, WA 98136 – Asking: $259,000 – Sold 05/2007: $335,000
    (Update: actually ^this one^ appears to simply be a subdivide by a developer)
  • 4113 44th Ave SW Seattle, WA 98116 – Asking: $998,500 – Sold 06/2007: $1,175,000

Deejayoh commented:

These are all in West Seattle – and I found them by clicking only about 20 listings on Redfin.

Here are a couple I found in a cursory search of the Woodinville area:

  • 16632 126th Ave NE Woodinville, WA 98072 – Asking: $449,950 – Sold 12/2006: $460,000
  • 20318 132nd Ave NE Woodinville, WA 98072 – Asking: $550,000 – Sold 05/2006: $564,000

So what’s the deal here? Was there fraud involved in the prior sales of these places? Is this a growing trend? Have you noticed similar situations in your neighborhood?

Head over to the forum thread, or share your similar anecdotes here.

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Tales of a Seattle Real Estate Investor: Epilogue
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Prices Flopping all Across the Eastside

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