Short Sale in San Marcos

554 VIA DEL CABALLO, 2358 sq ft (Belleza Tract) built in 2004

Purchase price: $585,000 9/28/2004
Listing price: $590,000 8/16/2006 reduced to $540,000

Here is the exerpt from the realtor:

"SHORT SALE! LAST APPRAISAL $590, 000.00 subject to lenders approval, Huge master bedroom. minutes from the heart of San Marcos and Restaurant Row, walkingdistant to Cal-State San Marcos home in great condition. BRING YOUR OFFERS. ALL OF THEM WILL BE CONSIDERED. "

The flipper got screwed. The lender got screwed. The neighbors get screwed and society gets screwed because of senseless greed while the builder is laughing all the way to the bank.