A Quick Return to Market, +23%

Posted by Dave Fratello on Wednesday, July 11th, 2012 at 3:25pm.

With inventory low and many properties selling quickly, you can always hope that maybe a property you missed out on will simply come back in a few months.

Specifically, if you missed a chance at 311 32nd (3br/3ba, 3500 sq. ft.), a big ocean-view TH, rejoice: It's back.

Just 3 months after it sold.

That's right. 311 32nd sold in early April and is back now.

And wouldn't this work out to be an outstanding flip? The seller is marking it up 23%, fully $600k, over acquisition.

April 2012: $2.600m (sold)

July 2012: $3.200m (asking)

Good luck with that.

Here's a link to our review from February this year.

Worth noting: This one sold quickly when new in Sept. 2007 for $2.850m, but the first try at reselling it failed, for big chunks of 2009 and 2010. This year's $2.6m sale was a little bit bid up from the $2.549m start price.

But that extra $50k will look brilliant if they can clear $3m+ on resale, won't it?

Good luck with that.
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