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Redfin Real Estate Forums :
Bay Area :
monkey business follow up!
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monkey business follow up!
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dr_decaf
Contributor
Posts: 31
Registered: 04-10-2009
Message 1 of 33
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Folks from the Monkey business thread: Here's one for you- 1409 9th street 94607? Listed a few months back, it was painted purple then. Agent indicated it went for 170 all cash. Same agency listing it this time around,. Odd, as I heard folks at an open house talking about offering on this place at the new list price, the first time around...
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06-21-2009 07:23 PM
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Re: monkey business follow up!
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RMS
Regular Contributor
Posts: 458
Registered: 06-07-2009
Message 3 of 33
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Got it! 1405 9th St, Oakland CA Foreclosed GMAC MORTGAGE LLC, ; GMAC MORTGAGE CORPORATION, painted purple Listed 6/5 off market 6/6 177K Cash List Agent: VIVIAN HUNG List Office: CENTURY 21 LANDMARK EXCELLENCE Off Phone: 510 8352828 Ext: Agt Phone: 510 5174759 Agt Email: vivi4chu@yahoo.com Co List Agt: VINNY MANGUYEN Co List Off: CENTURY 21 LANDMARK EXCELLENCE 510 8352828 Beautiful Victoria with 3bds/1bath downstairs; 4bds/2.5baths upstairs. Walking distance to Bart station and easy Freeway access.
Occupied by: Vacant Name: Occ. Phone: Showing Info: Vacant Supra Key Lock Box: Yes On Gate
REO. See docs for offer instruction. Email offer to Vivian.hung@Century21.com, or eFax 866-336-5035. City permit shows SFR. Selling Broker: License ID: 01519223 Home Area Network Inc 93 DEVINE ST STE 100 SAN JOSE, CA 9511 Selling agent, she never listed who that was just said "out of area" must have been herself.
Painted and Listed 6/18 Same Agent 289K OH 6/28 1-3PM. Regular sale; termite s cleared. Offer due 6/30th 1:00PM if any. Email vivi4chu@yahoo.com for offer instructions or submit here: http://ebrokerhouse.com/property_search.php?id=2921 Can't see yet who bought it but looks like the realtor did to me. GMAC is a bailout financial institution, they got huge TARP funds.
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06-21-2009 08:11 PM
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Re: monkey business follow up!
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RMS
Regular Contributor
Posts: 458
Registered: 06-07-2009
Message 4 of 33
Viewed 2,406 times
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Note now that she is trying to flip it, I assume, she has offers due June 30th. Plenty of time for her to get her price. She most likely got a double dip commission which would be $9,000, costs her zero commission to sell it now. We paid for the bailout so that Vivian Hung can profit on it. If you are not angry, you should be. Find the CEO of GMAC, send the info and stress taxpayer bailout. GMAC has a fidicuary duty to the taxpayer to get the most money for the assets we now own. She will get fired and the game will end, one bank at a time. If we don't we will have another meltdown in 10 years.
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06-21-2009 08:32 PM
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Re: monkey business follow up!
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RMS
Regular Contributor
Posts: 458
Registered: 06-07-2009
Message 5 of 33
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Why doesn't Redfin show the last sale on this house in May? It shows May 6th * no price We know the realtor wants to hide the flip.
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06-21-2009 09:18 PM
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Re: monkey business follow up!
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hamstar
Regular Contributor
Posts: 153
Registered: 03-01-2009
Message 8 of 33
Viewed 2,281 times
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It does indeed sound like a flip. FHA folks need not apply, since they'll allow an REO "takeover" sale, but not any other kind of sale w/in the last year. But that might be an interesting way to weed some info out.
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06-21-2009 10:47 PM
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Re: monkey business follow up!
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ThomasP
Regular Contributor
Posts: 159
Registered: 04-26-2009
Message 9 of 33
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Maybe it's all gussied up for an overseas buyer As history has shown even overseas buyers (big and small) get burned by US RE. That being said, overseas buyers pay the same US taxes here but get no Int% deductions like US residents/citizens. And if the currency devalues so does the USD based RE. Its really a no win situation in my opinion.
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06-21-2009 11:35 PM
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Re: monkey business follow up!
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ThomasP
Regular Contributor
Posts: 159
Registered: 04-26-2009
Message 10 of 33
Viewed 2,220 times
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Seems the last two buyers got burned by this home alone. The recent "comps" put this at 125K. So you have a documented case of a home which well declined around -73% in 3 years. the 94-06 looks very close to near 1000% appreciation. No wonder it declined hard. Price history from zillow Sale History 10/22/2008: $315,000
02/24/2006: $639,000
06/09/2003: $462,500
03/04/1994: $ 51,497
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06-21-2009 11:49 PM
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