Dr.Endo said:
Has anyone visited 6 & 8 Meridian in Pacific Ridge? I can't quite figure out what is going on over there. 8 Meridian is listed at $2.39M while 6 Meridian is listed as a short sale for $2.098M. I've been told that both properties are owned by the same investor who had bought multiple home in the area, probably with the intention to flip them for profit. Whoops!!!
Anyways, when you ask the annoyingly haughty agent who has been showing 6 Meridian every weekend for over a year what the deal is she spits out the same prefabricated story each time. She states that 8 Meridian is in escrow for $2.1M and that 6 Meridian has multiple $2.1M cash offers so if one is interested they had better put in an offer straight away. The only problem is that she's been saying that for months. If you look at 8 Meridian the place has gone to shit. Do the agents honestly think that anyone is naive enough to believe that someone is willing to burn a couple million on 8 Meridian when the property has more weeds than landscaping and the house itself is in worse shape than an REO property? Oh and forget about bringing in your own agent, they say that the asking price for 6 Meridian is only good if you place an offer with them. Talk about greedy. You'd think in this economy they'd be grateful to close any deal as opposed to being so overtly preoccupied with being double vested.
Can anyone give me some insight on what kind of game they are playing?
6 and 8 Meridian have had NODs in the past, but it looks like both are current at the moment. They are different owners though, so you might want to fire your source.
The next time you talk to the agent, ask them what it will mean if 10 Meridian gets foreclosed on 5/26. Then ask them when they think the bank will be getting 6 Sycamore on the market. For the love of gawd, it has been over four months since JPMorgan/Chase took it back. Then... to really rub it in... ask them what the other 8 homes in foreclosure in that same exact neighborhood will do the values. As the silence becomes overwhelming, grab a cookie and take a bite, and say... well... what say ye all mighty RE guru? As they start speaking, touch your stomach with an uncomfortable look on your face and ask where the bathroom is. Walk away snickering at the Kool-Aid overdosed realturd. Come back to the realturd a year or two later when you buy a property for 40% off from a desperate bank, and say: "Do you remember me? I'm Dr. foreclosure biatch!"
