trabucodom_IHB
New member
I thought this flip was interesting since I put an offer on the place when it was originally for sale at the beginning of the year:
http://www.redfin.com/CA/Lake-Forest/19031-Willow-Brook-Ln-92679/home/4805505
MLS#: S546398
It was a major fixer-upper. And a REO at the time. I put in an offer that was not accepted. The offer that was accepted was near 650k. Later I heard that the buyer was the husband of the listing agent. It sounds almost unethical if it is true. The agent could easily see the highest offer and have her husband (or friend/relative/whoever) plave an offer just over the highest received offer, or they could just submit whatever offen they want to the lender, I suppose.
In any case, they fixed up the place and just recently it is now back on the market at 989K.
The not-so-ironic thing is the same agent is now listing it again.
I think they are crazy to think they can get anywhere near 989k for it...I am thinking 795k tops...That would give them a max 45k profit if what they say is true, that they put over 100k into it.
Their listing info:
16,498 sq. ft lot w/ breathtaking, unobstructed VIEW! Ocean/Catalina view, mountain & canyon views. Quiet, Private, Prime location at top of hill, on private street off of cul-de-sac w/ large wrap-around yard. A spectacular show every evening of sunsets & city lights, very serene & romantic. Luxury, modern home has been remodeled from baseboard to ceiling. 4-bedrooms w/ a Master Retreat/Office & a spacious 3-car garage. Open & airy this home screams 'California', & has soaring vaulted ceilings, an open floorplan, builtins, over $100k in stonework, new custom int. & ext. paint, new fixtures & hardware, new travertine flooring, new carpet, new landscape & hardscape, a new furnace & the appliances have all been replaced. This Executive Home is prewired w/ CAT-5e in all bedrooms & offices, has an intercom system & in-ceiling sound system throughout which extends to your private fenced back yard as well. Feel free to enjoy the swing in the front yard & take in the amazing panorama.
http://www.redfin.com/CA/Lake-Forest/19031-Willow-Brook-Ln-92679/home/4805505
MLS#: S546398
It was a major fixer-upper. And a REO at the time. I put in an offer that was not accepted. The offer that was accepted was near 650k. Later I heard that the buyer was the husband of the listing agent. It sounds almost unethical if it is true. The agent could easily see the highest offer and have her husband (or friend/relative/whoever) plave an offer just over the highest received offer, or they could just submit whatever offen they want to the lender, I suppose.
In any case, they fixed up the place and just recently it is now back on the market at 989K.
The not-so-ironic thing is the same agent is now listing it again.
I think they are crazy to think they can get anywhere near 989k for it...I am thinking 795k tops...That would give them a max 45k profit if what they say is true, that they put over 100k into it.
Their listing info:
16,498 sq. ft lot w/ breathtaking, unobstructed VIEW! Ocean/Catalina view, mountain & canyon views. Quiet, Private, Prime location at top of hill, on private street off of cul-de-sac w/ large wrap-around yard. A spectacular show every evening of sunsets & city lights, very serene & romantic. Luxury, modern home has been remodeled from baseboard to ceiling. 4-bedrooms w/ a Master Retreat/Office & a spacious 3-car garage. Open & airy this home screams 'California', & has soaring vaulted ceilings, an open floorplan, builtins, over $100k in stonework, new custom int. & ext. paint, new fixtures & hardware, new travertine flooring, new carpet, new landscape & hardscape, a new furnace & the appliances have all been replaced. This Executive Home is prewired w/ CAT-5e in all bedrooms & offices, has an intercom system & in-ceiling sound system throughout which extends to your private fenced back yard as well. Feel free to enjoy the swing in the front yard & take in the amazing panorama.
