Northpark Condo for $301/sqft?

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SevenThreeNumberTwo_IHB

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<p>Northpark Square condo (in the gated part), 2/2.5 1327sqft for only $400k? What's fishy is the value range... 400-600k? Is that normal to do such a huge range? I wonder what's up with that... short sale, foreclosure... maybe someone can check out the Private Remarks? :) MLS #S494809</p>

<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=874879">http://www.redfin.com/stingray/do/printable-listing?listing-id=874879</a></p>
 
<p>It's a joke.</p>

<p><a href="http://www.proxibid.com/asp/Catalog.asp?aid=7966">http://www.proxibid.com/asp/Catalog.asp?aid=7966</a></p>

<p>If a 100% cash buyer came along and made a "no contingencies" full-price offer, wouldn't the listing agent be responsible for a buyer's agent commission? </p>
 
<p>mk9,</p>

<p>From what I can see, seller is not in financial distress. The property is being sold using the new popular sale auction method by PACIFIC AUCTION EXCHANGE.</p>
 
I changed my mind. It is tomorrows blog post.





I too am surprised at this method of sale. The seller doesn't appear to be underwater. We will see what happens...
 
<p>Please keep us posted on the price it goes for at the auction. If it goes anywhere close to 400K I will have a mini fit. We had inquired about the property a few weeks ago after seeing it on Redfin and were told that its not going to go for less than 500K. We decided not to bother... </p>
 
<p>Correct. It sounded a little fishy but at that point/this point we've become so frustrated and burnt out with the pricing/and the purchasing process we were not too serious about it. We'll see what happens...hindsight can be a real you know what...</p>
 
<p>Just looked at the bid listing, its says bidding was to be today from 1:07 to 4:07. </p>

<p>So its now over, but it says high bid $0.00. Does that mean nobody placed a bid? Or is their system slow to update?</p>
 
Going out on a limb here, but is it possible that with the equity market tanking the last couple of days, lenders getting hammered, builders getting worse than hammered, and the derivative credit markets in limbo, that the only potential buyers out there just decided to wait?<p>


Why aren't these places getting a bid? What is going on?<p>


Was that <b>fear</b> in Cramer's diatribe? And is it contagious?<p>


Nah, it can't be. The experts have assured us that the the contagion is contained.
 
<a href="http://abclocal.go.com/kabc/story?section=consumer&id=5529594">Video and article on auction results.</a>





Bid of $420,000 plus 10% ($462,000).
 
Pending home sales for June are UP. According to Lawrence Yun, "Still, major declines in home sales are likely to have occurred already and further declines, if any, are likely to be modest given the accumulating pent-up demand." Yup, you heard it here first. The bottom is in. And the hundreds of millions of dollars worth of mortgage loans that AHM was supposed to fund, and will not be funding, will have no effect on July or August sales. Wow! I had better go out and buy now, before I am left out of the housing market forever.
 
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