Oceanside Market Corroding for this Flipper
4306 MORGAN CREEK WAY, OCEANSIDE
This home has been flipped more than than a low-rider cutting you off on the 805. Originally purchased on 3/03/2003 for $462,000, the orginal flipper made a quick get-a-way by unloading this box for $750,000 on 9/1/2005. Wow! The latest flipper put the house on the market 10 months later on 7/31/2006 for $755,000, hoping to salvage what is turning out to be a complete disaster. On the market now for over 2 months this flipper has reduced his asking price to $649,000-$695,000. Even if he sells it at $695K. asumming 6% for commisson fees and closing costs he is already in the hole 100K in just 1 year.
People, people, people.....watch and learn. This is why this blog exists.
2 comments:
Hey guys, not trying to whore my site or anything, but I've been doing a lot of tracking in Pacific Beach lately. If you are interested in keeping up on real estate in that area, check out my blog at:
http://pacificbeachbubble.blogspot.com/
If posting a link like that is inappropriate, feel free to delete my comment, and I won't try to repost it. Thanks
Sometimes i think you are pulling a joke on us non-Californians until i pulled up a real estate listing. Too bad the banks pushed through the new bankruptcy bill. Wow. Is this going to be frightful over there. Guess Californians ought to rent the movie 'Falling Down' With Michael Douglas. Got to be painful over there especially when the reality sets in. Might have to build a wall to prevent homeowners from fleeing.OUCH
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