Property Q&A in Pasadena>Question Details

Ryan, Home Buyer in Pasadena, CA

I'm curious as to why the bank thinks it can sell this property above the 2008 price?

Asked by Ryan, Pasadena, CA Sun May 17, 2009

I'm a little confused how this bank owned property, could have been sold in 2008 for about 187K and now the bank's trying to sell it for 230K. Surely anyone that's done any form of research will offer below 187k?

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Ryan, anyone who has done ANY reasearch will know that the property was not sold for $187k it was bought back by the bank at trustees sale at that price. Surely. This is why buyers, such as yourself, need the guidance of an agent. Good Luck.

0 votes Thank Flag Link Sun May 17, 2009
Maybe that price is what the bank paid at the foreclosure auction.
Look at the comparable prices further down - you'll see the average listing price is $287k and the average selling price is $247k.
0 votes Thank Flag Link Sun May 17, 2009
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