Thursday, December 14, 2006

Bank Foreclosed Downtown Condo at Trellis #519

Trellis is located at the end of 5th Avenue in the Gaslamp.

This unit has changed hands twice with the second buyer going into foreclosure. This unit listed on

Based on the below list price activity it appears that bank actually tried to sell this unit for more than the last sales price but has quickly cut the price to below the prior transaction price.

Price Reduced: 11/06/06 -- $439,900 to $384,900
Price Reduced: 12/05/06 -- $384,900 to $374,900

Type: Listed on MLS(#061087982)

List Price: $374,900

Cost: $409,000
Loss@6% Sales Expenses: $56,594
Loss%: 13.84%

Purchase Date: 08/26/2005
Holding Period: 16 months and counting...

Bedrooms: 1
Bathrooms: 1
Square Feet: 678

Purchase Details: view

1 comment:

Anonymous said...

Thank you for the post. Even $384,900 to $374,900 is way too expensive for a tiny apartment / studio. Both the flipper and the bank are not only greedy but also very stupid.