For a little while, a bank owned 939 Duncan
, but now new owners have taken the keys.
As we noted in "Uh-Oh, Duncan
" back in April, the 4br/4ba, 3950 sq. ft. home was purchased in Dec. 2005 as a rehab project for $2.53m
Almost 2 years later, it was ready for market at a big markup, though it ultimately found only renters, no buyers:
- Oct. 2007: Starts at $3.895m
- Feb. 2008: Cut to $3.695m
- April 2010: Offered for $2.040m as an REO
The remodel-turned-REO has now sold for $2,111,888
– one of those oddball prices you sometimes see with bank transactions.
The sale price is -$418k/-17%
off the pre-remodel acquisition price. Looks like the rehab was essentially donated to the new owners.
Also worth noting – another lender foreclosure sale at 617 6th
(5br/5ba, 5725 sq. ft.) that also just closed.
The big Caliterranean with ocean views, home theater, etc., is a speckie that was never properly finished before hitting the market back in early 2008 – not so long after the 939 Duncan remodel.
A long-running (600+ DOM) listing for the almost-complete home crashed in late 2009 when the investors foreclosed.
Launched at $5.995m long ago, 617 6th just sold for $4.5m
from start). The lot was acquired in Feb. 2006 for $2.250m.