Address: 11 Remington, Irvine, CA 92620 (Northwood)
Plan: 1016 sq ft – 2/2.5
MLS: S459567 DOM: 49
Sale History: 1/31/2006: $440,000
4/22/1999: $160,000
Price Reduced: 10/04/06 — $445,000 to $434,900
Price Reduced: 10/10/06 — $434,900 to $424,900
Current Price: $424,900
This Plan E in the Horizons tract in Northwood was purchased at the end of January 2006 and placed back on the market about 8 months later. The flipper bought it with 100% financing and originally listed it just a tad higher than their purchase price. The reductions came pretty quick initially and now the this seller will definitely be under water. Check out the pictures! Unfortunately, it doesn’t look too appealing (at least to me). That will make it just that much harder to unload.
Since our flipper purchased this home with 100% financing, they will have to come up with a nice sum of money (over $40k assuming 6% selling costs) to get out of this property. Or maybe the lender will have to take the hit on this one.
This place looks like a slum,,,,,,,,I’d pay about $220,00 for it.
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I was going to say…I am not exactly “Mr. Home Improvement,” but what ever happened to making a place look attractive if you want to sell it? Especially in this market…there must be something the seller could do if he was serious about selling.