Friday, October 26, 2007

10300 West 59th Place/Avenue Pump and Dump!

Here in Arvada we have a complete community which investors made a bundle on. Well the developer/investor. The original sale were not sold in the MLS. These use to be apartments until the developer converted these into condos. There are a few investors who own 5-6 units of the 100+/-. The sales people must have been real convincing. There are neighbors in Aurora who convinced one another to buy in and they own more then one unit. They seemed like such a good investment, close to shopping, public trans, no maintenance, etc.
These are 800-1,000sf 2/2. Some have garages some don't.
Most of these originally sold for between $179,000 and $194,000.
Now we have 20+ listed from betweeen $55,000 and $135,000(good luck). most are listed under $100,000. Most of the listings are owned by lenders, Countrywide included.
Just a small sample;
10321 W. 59th Ave, originally purchased $194,000, 2005, currently listed $55,000
10236 W. 59th Place, originally purchased $179,000, 2006, currently listed $68,900
10356 w. 59th Place, originally purchased $179,000, 2005, just sold $100,000
10371 W. 59th Ave, originally purchased $194,000, 2005, just sold $70,000
10229 W. 59th Ave. originally purchased $194,000, 2005, just sold $103,000
10356 W. 59th Place, originally purchased $179,000, 2005, just sold $75,000
and the list goes on....

Wednesday, October 24, 2007

4735 Josephine another Countrywide POS

Here is a real nice duplex in the heart of Denver. This is within walking distance to the Stock Yards and if your lucky you grab a train as it lumbers by your rear window....what a great way to save on that ever increasing gas bill.
This POS has gone through the complete wash cycle.
This POS originally sold 08/29/2006 for an outstanding $290,000, after being listed for $269,000.
Next it sold 0n 01/15/2005 without the help of MLS for an outstanding $325,000.
Now you can buy this POS from Countrywide for only $188,900.
2,186sf 10/6/3.5, 2 units.

Monday, October 22, 2007

Cali Fires not good news..

$17,000,000 up in smoke..

Malibu castle burns to ground as wildfires destroy landmark Hodge castle seen ablaze and then in ruins in pictures below.
You can see in the picture that the landmark Malibu castle was engulfed and totally ablaze despite firefighters efforts and the castle’s fire-resistant tile roof.

Thursday, October 18, 2007

338 Bellvue Road, Golden, CO super flip!

This odd looking house first sold 06/29/2006 after being on the market for 3 months $609,900, list price $642,000. This was after several failed attempts to sell in 2003 and 2004.
This home then sold again 06/30/2006 for $835,000. Thats right $226,000 in just 2 days. Christopher Dilapo made a bundle when he sold this POS to Joel Duran. Poor old Joel never made a payment or moved in to this POS. Very interesting....
6/1/1.5 3,000sf(yup just 1 bedroom above grade)
1,500sf basement
under size 2 car garage...

Friday, October 12, 2007

Sunnyside Condos Aurora, Price rollback 1987 prices

Sunnyside Condos in Aurora Colorado are selling for rock bottom prices these days. You can pay $40-$50,000 for a 2/2, 900sf unit today. In 2001 these same units sold for $100-$110,000. This project hasn't sold this low since the mid 80's or when they were first sold.

Wednesday, October 10, 2007

Beauvallon Condos if only I had waited 925 Linclon

Unit 7B-S
this swanky upscale condo project was the talk of the town when it was being built......
guess what
currently 30 units on the market(there are only 100 units total)
this flopper paid $804,900 01/15/2006
it just sold 02/16/2007 $620,000.
I wonder if that $900/month HOA fee made it more difficult to afford...
2,200sf 2/2

Friday, September 28, 2007

A youtube video about mortgage meltdown

Monday, September 24, 2007