(MLS # F1734407)
Square Feet: 3,276
Lot Size: 12,630 Sq. Ft.
Year Built: 1970
Listing Date: 09/12/07
"Reo [sic] bank owned property south [sic] of the blvd.[sic] Lowest price [sic] home in the area. Spacious 3 bed + 3.5 bath home. Three levels of living with great views. Granite in kitchen and large tiled baths lower level has a separate entrance with living room and kitchenette. Central heat & air. Balconies on all levels. Multi-million dollar neighborhood. Fix and save! Caution walking on balconies"
So, what was the bank owed on this house? $1.688M.
But what is the list price? $750k. NOT A TYPO! And quite a haircut!
And yet the previous owner allegedly paid: $2.105M.
Here's the Property Shark details:
8/15/2007 $1,688,117: Trustee's Deed
Aztec Foreclosure to HSBC Bank Series
5/31/2006 $2,105,000: Grant Deed
Nakachian, Rouzanna to Kadaryan, Ruzanna
12/23/2004 $835,000: Grant Deed
Duff Trust to Nakachian, Rouzanna
12/19/1991 $210,000: Grant Deed
Duff Trust to Duff, John T Ii
So what the hell? That's a big house in an expensive neighborhood. Reader Ace (Hi!) tells us:
"There is a note for the agents that says 'Property may have geological problems- buyer to be responsible for all inspections and reports'."
Ha! The house "MAY" have geological problems? Gee, ya think maybe that's why the bank is willing to take a nearly three-quarter of a million dollar haircut right off the bat? Possibly?