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Josh Brodesky: $30,700 town home not an easy sell
Arizona Daily Star
Tucson, Arizona | Published: 03.29.2009
http://www.azstarnet.com/sn/byauthor/286433
“Hard as it might be to believe, not long ago this two-bedroom 904-square-foot town home near South Sixth and Irvington was flipped three times during Tucson's "hot" housing market.”
“It was sold in 2002 for $58,900, Pima County Assessor's records show.” “The home was flipped in August 2004 for $69,900 and then flipped again in September 2005 for $95,000.”
“Now it's on the market for $30,700.”
“I found myself wondering how an appraiser could ever have approved such a sale.”
Comments:
http://regulus2.azstarnet.com/comments/index.php?id=286433
Ratings: -3 +13
“Would have been interesting if the story had identified the "flippers". “Isn't that public information and were "flippers" not in some way a significant part of the "bubble".” “As for the appraisers, many were in bed with both realtors and lenders in order to justify the very inflated prices being asked and paid for homes across the economic board.” “Anyone with their eyes open could see this crash coming and it was fairly evident how it was being driven and who the players were.” “The result was a systemic collapse of a greed fostering industry.”
Comment #8
Long Realty listing agent Jessica Sanchez, sold this property on August 2004 for $69,900. I believe she now works for Realty Executives Southern Arizona.
Tucson, Arizona | Published: 03.29.2009
http://www.azstarnet.com/sn/byauthor/286433
“Hard as it might be to believe, not long ago this two-bedroom 904-square-foot town home near South Sixth and Irvington was flipped three times during Tucson's "hot" housing market.”
“It was sold in 2002 for $58,900, Pima County Assessor's records show.” “The home was flipped in August 2004 for $69,900 and then flipped again in September 2005 for $95,000.”
“Now it's on the market for $30,700.”
“I found myself wondering how an appraiser could ever have approved such a sale.”
Comments:
http://regulus2.azstarnet.com/comments/index.php?id=286433
Ratings: -3 +13
“Would have been interesting if the story had identified the "flippers". “Isn't that public information and were "flippers" not in some way a significant part of the "bubble".” “As for the appraisers, many were in bed with both realtors and lenders in order to justify the very inflated prices being asked and paid for homes across the economic board.” “Anyone with their eyes open could see this crash coming and it was fairly evident how it was being driven and who the players were.” “The result was a systemic collapse of a greed fostering industry.”
Comment #8
Long Realty listing agent Jessica Sanchez, sold this property on August 2004 for $69,900. I believe she now works for Realty Executives Southern Arizona.
ellasilveira |
Latest page update: made by ellasilveira
, Mar 29 2009, 7:11 PM EDT
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