Sunday, September 30, 2007

Juicy gossip!

Suzie La Snitch (not her real name) tells me the home at 5224 Nagle Ave (91401) will be foreclosed on sometime next month.

The details:
  • Single family
  • 5 beds
  • 3.0 bath
  • 2,557 sqft
  • Lot 5,580 sqft (so, not too much yard here)
  • Built in 1961
This home was purchased 0n 8/13/04 for $719k (thanks PropertyShark!). According to Ms. La Snitch, there is an outstanding debt of $1.15M! The Zestimate for this house is $913,167. Suzie says the listing was cancelled by the agent because the seller refused the reduce the home below $995k and preferred to have the home foreclosured upon - possibly for tax reasons. The home was on the market approximately 4 months. It appears the seller abandoned the home recently.

1 comment:

Ace said...

Wow, good info. This raises so many questions... actually, just one:

How do you take out $400k in equity out of a house, spend it, get foreclosed upon, and be able to walk away?

It looks like they spent a couple of dollars remodelling it. Wow.