Tuesday, January 11, 2011
Time to break out the Ass-Clown award
There's a new bread of Ass-Clowns popping up. These are the delusional flippers or the people that recently purchased a home and for whatever reason want to sell it now. Today's home is the latter. The buyer picked up 4507 Birdie Dr in June of 09 for $570k. The house is a 4 bed, 3.5 bath home and nearly 3900 sq/ft. He paid top dollar for it but it is a pretty nice house. However the kitchen cabinets and appliances are low end as is the bathroom. The primary upgrades are outside where it has a nice pool. This home has no view to speak of either. Now, a little over a year later in a market that has dropped off considerably from mid 09 he thinks he can make $100k on this house! Good luck with that fella. If he's lucky he can get out for what he paid.
Just to drive the point home there is 4545 Edgewater Cir. just around the corner from his place. This one is an REO but it's in great shape and has a great view of the Eagle Glen golf course. Even if that view starts with the parking lot. This home is quite a bit larger than ass-clowns place. It's a 5 bedroom, 4.5 bath home of 4136 sq/ft. The kitchen looks nicer, the bathrooms look comparable but this house has a much better view. The listing agent for this one had high hopes for it too. Initially it listed for $580k but it's down to a more reasonable $499k. At this price there's a good chance this home will sell fairly quickly.