Flip gone bad in Carlsbad

3475 MOON FIELD DR , CARLSBAD, CA


This flipper purchased this home June 2005 for $693,451. She listed it for sale in May 2006, less than a year after the purchase, for $779,475. Well, a mere 142 days after listing her home this flipper has reduced her price to $695,000-$715,000.

Even at $715K this flipper is at least $20K in the hole after realtor fees, taxes, and closing costs. But it will not be so easy to unload this home because of the HOAs/Mello-Roos fees of over $250 per month. I can understand paying this much for a condo, but for a $700K home that you barely qualified for is ludicrous.

I don’t think I will ever understand this flipper mentality, it goes without saying that this foolish risk taking will eventually catch up to you and bite you over and over again.