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Fishy Flip?

439 fairwood is a fishy flipWhen I was reviewing what sold last month in the Greater Olde Towne East area, I came across this listing that sold for $217,000.  That seemed a little high for the address, so I clicked over the auditor’s page and found this picture for that address. 

Last month’s Seller paid $24,000 for the property in April of this year.  Free enterprise is a beautiful thing and I love the idea of making money in Real Estate as much as the next guy, I just don’t like inacurrate values being placed on home that have no business selling that high – it’s bad for everybody.  Besides, nothing on this block has sold for more than $97,900, ever.  I haven’t driven by the property but it was advertised in the MLS as a brick home. Clearly, it is asbestos shingle according to the auditor’s picture.  It’s not a horrible neighborhood by any means, and maybe the house was worth every penny.  Maybe.

Not a pretty history, but certainly interesting isn’t it?

Transfer History 
Transfer Date  Conveyance  Owner  # Parcels      Sale Price     
10/25/2007 200700024246 SEWARD WALTER M 0001     $217,000    
05/03/2007 200700009313 ZIRCON FUNDING LTD 0001     $24,000    
01/11/2007 200700000945 BANK OF NEW YORK TR 0001     $30,000    
10/13/2004 200400028151 COLEMAN CHRISTOPHER 0001     $140,000    
08/05/2004 200400020962 BLOUNT ROBERT 0001     $117,800    
BLOUNT BEATRICE L
07/19/2004 200400018678 CYLENT INVESTMENTS LLC 0001     $42,000    
05/13/2004 200400011271 DEUTSCHE BANK NATIONAL 0001     $35,000    
07/23/2001 200100015727 COMBS TERESA 0001     $63,000    
09/12/2000 200000020143 DOWELL TODD 0001     $60,000    
03/24/1986 BISS INVESTMENT COMPANY 0001     $0    

 

3 Responses to “Fishy Flip?”

  1. […] Luvi Marie brought to you using rss feeds. Valuable information for anyone looking into home and real estate foreclosures.Here’s a brief portion of the articleFree enterprise is a beautiful thing and I love the idea of making money in Real Estate as much as the next guy, I just don’t like inacurrate values being placed on home that have no business selling that high – it’s bad for everybody. … […]

  2. […] prolink wrote an interesting post today onHere’s a quick excerptFree enterprise is a beautiful thing and I love the idea of making money in Real Estate as much as the next guy, I just don’t like inacurrate values being placed on home that have no business selling that high – it’s bad for everybody. … […]

  3. maybe that just reflects a second mortgage that was foreclosed on?

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