Down $700k, Facing Foreclosure or Short SalePosted on Monday, August 13th, 2007 at 4:47pm.
A home that began March 20 at $2.695m is now up at $1.999m, with this language:
Bargain priced estate home in the prestigious manhattan beach "hill section". Lender approved short pay.The owner paid $2.0m in Sept. 2005, so the home is priced somewhat surprisingly at a 2-yrs.-ago level. (This one will throw off the two-year-itch averages.) Last list before they quit was $5k short of $2.4m, so this is a hefty drop.
Now the question is how short you can go.
Can we guess it's the holder of the 2nd who recognized the threat of a total wipeout if this proceeds to auction Sept. 5? (Auctions have been scheduled and canceled a few times, but that game can't go on forever.)
At this price, even with its location issues, there oughta be buyers. Oh, wait, there's some trouble on that side, too...
comments powered by Disqus