Property Q&A in Scottsdale>Question Details

Bryon Brunat…, Both Buyer and Seller in 85260

It appears that someone is trying to "flip" this property.

Asked by Bryon Brunatti, 85260 Sun May 31, 2009

This property shows sold at the end of April for 400k and now is for sale for 435k one month later. In this economy there will always be people who never learn.

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We are experiencing some areas where the opportunity to buy a home, fix it up, and sell for profit still exists. I've had a couple buyers in recent months buy homes that appeared to be "flips". What matched my buyers need was that they were looking for a move in ready home that was not a short sale. The bank owned bids we placed had multiple offers and we lucked upon a couple where we were able to deal direct with the seller and get the home at a price they wanted to pay.

Another agent in my office had a home sold in 11 hours after putting it on the market after it was bought, remodeled, and then resold. These home still appraised even in a much more strict/controlled appraisal environment. I don't find it to be the norm, rather the exception

Buyers still would like nice homes at reasonable prices.

We are here to help as needed.
0 votes Thank Flag Link Sun May 31, 2009
Dear Bryon,

It appears that the listing agent has failed to remove this listing from the Trulia.
It is no longer available on the Multiple Listing System. (See sales history below.)

* New Individual owner purchased this home  WARRANTY DEED on 4/30/09 for $400,000$ with 40,000
down and a new loam for $360,000.
* The property was sold at public auction:
The Bank: Buyer: BAY HOLDINGS INC purchased this property TRUSTEES DEED UPON SALE on
2/13/09 for $463,000
* Individual Owner purchased this home WARRANTY DEED on 10/21/05 for $700,000 with $145,607
down and a new loan for $560,000

Regarding your question about the increase in a property asking sales price: This may not necessarily be 'flipping' in the case of bank owned properties. Once a bank purchases a home at foreclosure, any current listings are cancelled. The bank will ask a Realtor to re-list the property based upon the latest comparables for the neighborhood. In some instances, this new listing price may be higher than the pre-foreclosure offering price.

If you would like to view properties currently for sale in the MLS, please feel free to contact us at any tome to set up a personalized real estate web site for you. This web site would provide properties for sale meeting your specifications and is updated daily with new listings as they enter the market.

Gary and Claudia Scott
John Hall & Associates
Scottsdale AZ
0 votes Thank Flag Link Sun May 31, 2009

Trulia is great for questions and answers however the homes available are not always accurate! It is a sold home!

If you would like an accurate list of homes available feel free to contact me anytime

Lucinda Tkach
0 votes Thank Flag Link Sun May 31, 2009
Actually, $434,900 was the original listing price of this home before it got sold for $400K. Was bank owned. I think the info you are looking at is out of date. It is not currently listed for sale. You should try looking in a web site that has current listings, like mine that come directly from the MLS :).
0 votes Thank Flag Link Sun May 31, 2009
Here is the latest tax sale info:

Deed Type Sale Date Price Down Mtg Amt Financing Document #
WARRANTY DEED 4/30/09 $400,000 $40,000 $360,000 Fannie Mae 090386303

I don's see where it is currently listed. You are probably looking at outdated information unless there is a FOR SALE BY OWNER sign in the yard.

I hope this helps.

FREE LIST with pictures updated daily!
Web Reference:
0 votes Thank Flag Link Sun May 31, 2009
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