Sunday, May 6, 2007

24344 East Glasgow Circle...Flip or Flopp??

Flip or Flopp??
This home has a very interesting sales history...I was hired by one bank and saved their hide but the greed was too strong to let that deal die...
This home took some time but there was instant equity to all the parties to share! Just like those seminars teach! You too can be a real estate tycoon!
Original listing 01/04/2004 $950,000
lowered then withdrawn 06/27/2004 $829,000
Flipper #1 cuts a deal with the bank and steals this castle for $750,000 12/14/2004!
Back on the market for only $1,075,000, 01/27/2005,,it has new carpet and new paint!
"Far below the competition!"
Sold $1,200,000!! 07/01/2005, looks like everyone made out on this deal, Broker, LO, and a little cash back to the happy homeowner....
Flipper #2 puts it back on the market 07/07/2005 $1,250,000,,whats this guy thinking??
after closing costs there is negative equity, I suppose that is part of the plan with the cash back at closing,,I think this is what they teach at those seminars;
Have your exit strategy planned before you buy..or about $125,000 built in profit..
Flipper #2 finally gives up 01/17/2006 and withdraws the listing.
Sells on the court house steps 06/15/2006, our friends at Aurora Loan Services take it back..
Back on the market 12/29/2006 $874,900 and sold $830,000 02/28/2007..
Perhaps we will see it listed again and below the competition..
The Builder, Golden Design Group, is still building this model within 1 mile from the subject and they keep making price adjustments because the sales in this hood are slow and have been since about 2002. Why not buy your home from the builder and get a free Plasma TV??

1 comment:

Dave Barnes said...

It would help if you mentioned the sub-division name and city (or unincorporated county) after the address.
For example, 24344 East Glasgow Circle is definitely NOT IN DENVER. I suspect it is in unincorporated Arapahoe County.

Personally, I would prefer a Denver focus as I just don't care about losers living in the sand dunes of Saudi Aurora.