9 Golden Star

[Geotpf_IHB]

<a href="http://www.redfin.com/CA/Irvine/9-Golden-Star-92604/home/4683392">9 Golden Star on Redfin</a>



Somebody explain to me how a 2,592 square foot, 4 bedroom, 3 bath, detached house in Irvine sold for less than $140,000-twice (once in August of 08, once in April of this year). I'm sure there's an error of some sort in the records here (or insider purchases for nominal amounts), because otherwise somebody got the deal of the century.

 

[ocresident73_IHB]

My guess is that it was an inter-family transfer of some sort. A former acquaintance lived with his mother in University Park for years. When she had to go on disability and couldn't afford the mortgage anymore, he bought the house from her for around $185,000. I think comps in the neighborhood were going for around $400,000 or $500,000 at the time. I believe he told us that amount was what was left of the mortgage after her contributions to it for about 15 years. Although there could be some other insider dealing happening here, seems likely to be a family thing.