Saturday, March 29, 2008

$247K in Eastvale?

The Fb's at 14153 Parkwood have been trying to unload their place for 172 days and counting. They started off with high hopes, listing last Oct for $599k. That was just a little late though. The market had already gone into full meltdown mode by then. Try as they might they were unable to get a bite and played the "let's chase the market down game" Having paid nearly $550k for the place in 2005 they did not have much room to maneuver and they have been trying to sell it as a short sale.

Even after all these price cuts, no luck

Oct 09, 2007 $599,900
Oct 11, 2007 $529,000
Oct 30, 2007 $524,900
Oct 31, 2007 $490,900
Nov 28, 2007 $424,000
Jan 29, 2008 $227,500
Feb 04, 2008 $424,000
Feb 07, 2008 $399,000
Mar 17, 2008 $389,000
Mar 26, 2008 $247,500

The last one reeks of desperation, so what are they up to? Well it looks to be one of these goofy auctions that will probably flop when the bank laughs at the bid price.

here is the listing description.
---------Approved------Short----Ready to close----Will be Sold to Highest Bidder this Sunday March 30th open this weekend for inspection Call for info Beautiful home in Corona features 5 Bedrooms 3 Full Bathrooms. Large spacious kitchen, inside laundry, tile and hardwood throughout, direct garage access. Best Value in all of East Valle. One Bedroom Down stairs bonus room Hard wood floors Hard scape and Island for BBQ in Back Yard needs Paint inside and ready to Move in. .. large lot

Wow, the inside of the BBQ needs paint??

I don't see any way the bank will go for this price. Obviously they are hoping it gets bid up to the point where the bank will approve the sale which is probably around the $389k asking price. Who's gonna go and place a bid? How bout Briar girl?


Anonymous said...

Here are interesting stats on the amount of licenses being issued. Seems like less people are attracted to real estate careers when the market is tough:

who would have thought they are only in it for the money?

Rob Dawg said...

Eastvale? Freakin' Corona.

This is like people in Oxnard listing a Channel Islands address.

Anonymous said...

Just went and looked at this one - it'd be a good buy at $247K, but it needs TONS of work. It's definitely the inside of the house (not bbq) that needs paint. It's been beat up - must've been a rental.

Briar said...

Me? Does it have a pool?

Anonymous said...

Its in EAST VALLE which makes it wowie. Or at least thats what the description says....

Anonymous said...

I see it still listed at 389 on redfin? wtf. Anyway, not a bad deal for Cow.Dung.Vale. If you can stand being surrounded by a plethora of foreclosures. Think MoVal during the 90s crash. What does that make MoVal now? The IE's own South Central.