A Glendale Flip Gone Bad
1300 Block of Allen in Glendale
MLS STATS
2&1, 1022 sq ft, lot 7,850
Sold 12/8/05 $620,000
Sold again 3/9/06 $683,000
Sold w/plans for 700 sq ft addition
Sold again 10/25/06 $925,000
But now with the addition completed, the stats change:
3&3, 1719 sq ft
And less than a year later, listed 4/2/07 as a short sale $730,000 – did not sell, lost home in foreclosure and Now Listed as foreclosure $633,900, which is $50,000 less than what the home sold for as a 2&1 in 2006!
Posted by Phyllis Harb at 3/7/2008 5:30 AM 
Categories: Glendale, Foreclosures, All about Money, Flipping Property
Categories: Glendale, Foreclosures, All about Money, Flipping Property
Trackbacks
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6/22/2008 8:36 AM
Los Angeles Real Estate Blog wrote:
If you like the story "behind" the story, you may be interested in the update to my post on this Glendale Flip Gone Bad. This is the home that has now sold four times in three years. It just closed escrow for $655,000- $21,000 over asking price. ... -
4/9/2008 7:19 AM
Los Angeles Real Estate Blog wrote:
Last week's REO's -It's very interesting to examine these area foreclosures in light of proposed governmental bail outs. Because these are "the people" that might be bailed out. Glendale’s Sparr Heights - This is the tale of another Glendale flip going bad.Details: sold 8/15/05 $600,000I showed this home when it was listed and my recollection is that it needed a lot of work: kitchen -
4/9/2008 6:53 AM
Los Angeles Real Estate Blog wrote:
Last week's REO's Glendale’s Sparr Heights - This is the tale of another Glendale flip going bad.Details: sold 8/15/05 $600,000I showed this home when it was listed and my recollection is that it needed a lot of work: kitchen -
3/20/2008 8:00 AM
Los Angeles Real Estate Blog wrote:
Another Glendale flip goes bad, this one just around the corner in the 1300 block of Irving, in Glendale MLS Stats:Sold 12/04 $605,0002
Maybe if this had been a normal market that would be the value of the home. I realize that a appraiser approved the price and lender lent the money but was the value really there and I think thats where the problem lays on alot of these properties being over inflated.
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