Tuesday, March 31, 2009

Flip or Flop? UPDATE

Well well well, looks like someone might have found that last remaining drunken knife catcher!

The status was "Active" and changed to "Contingent"

Only 22 days on market and it's already accepting backup offers. Not bad!

If this sale actually closes, I am DYING to get a peek at the final sales price. If he gets anywhere near asking price of $599,000, huge congratulations are in order.

You see, the updated property records show he picked it for $407,500. So, assuming Flippy here put $40,000 into it (we have no photos so that's pure speculation), he would make a hefty $150,000 profit (boosted by his realtor's commission). WOW.

That, of course, is assuming this sale actually closes.

A message to the prospective knife catcher:

1) Wipe drool from chin.
2) Turn on computer.
3) Open Internet Explorer.
4) Go to www.redfin.com.
5) Type in 4201 E 3rd St, 90814.
6) Scroll to Property History.
7) Reconcile the fact that you are about to pay $200,000 more than the last sales price FROM A FREAKING MONTH AGO.
8) Seriously reconsider.

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