Tuesday, August 4, 2009
A whole year!
19126 Hawkhill Ave, in Perris was foreclosed on lat year, August 2008 to be exact. It's just now hitting the market! It took the lender a whole year to get this property on the market.
Now I don't know the particulars of this property. It could be that they were tied up evicting a renter or the previous debtor or some other problem. But regardless of what the problem was, a year seems like a awfully long time between when a foreclosure happens and the property hitting the market.
Now the price on the home isn't too bad. At $96 s/f you get a large single story on a half acre. Yes the address says Perris but it's not "really" Perris. This home is up near Lake Mathews. The problem is that this particular tract is a little too close to Mead Valley. And Mead Valley is the meth capitol of the IE. The home is nearly 3000 s/f it has 4 bedrooms and 2.5 baths. It was purchased new in early 2005 for $414k. Then flipped 4 months later for $555k. That's not a bad deal eh? $140k profit in 4 months.... The bank took it back in Aug 2008, tried to get $290k at the auction but there were no takers. Now they have it listed for $258k.