Pine Foreclosure Returns

By Dave Fratello | July 10th, 2013

It was 3 years ago now when we last mentioned 3613 Pine, a 2002-built Caliterranean, here on MBC.

Back then we noted the past listing's odd pricing approach in "Curious REO Strategy on Pine," back in mid-July 2010.

The home had last been purchased in early 2005 for $1.520M. But things went off track and it was foreclosed upon in late 2009.

The listing price in 2010 had bounced around over a period of several months, from $1.695M to $1.495M and back up, again (really?!?), to $1.549M.

Alas, even by raising the price, they were somehow unable to sell it. The listing quit, and the foreclosed home rented out instead of selling.

But it's all different these days, isn't it?

3613 Pine has just hit the market $54K higher than the highest list price of 2010, at $1.749M.

That's $254K higher (+17%) than the lowest pricetag in 2010 when the market rejected this home.

Too close to Rosecrans? Too plain-vanilla?

Those things mattered in 2010. And now?

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