1921 WILLOW LN
WOODBRIDGE, VA 22191
List Price: $108,900
Prior Sale: $82,000 3/1/1994
Listing Date: 07/10/08
Note: Route 95 is practically in the backyard.
Saturday, July 26, 2008
The Years Have Not Been Kind . . .
Posted by Harriet at 11:43 AM
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6 comments:
This is another one that looks like maybe someone bought it and immediately defaulted... Zip realty has its most recent sale listed as being $282,000 on 7/1/2008!
Sarah,
Yes, that would be the repossession by Countrywide. I'm sure they were thrilled.
Sara,
That sale was the bank taking it back...
7/1/2008 - $282,081 - THE BANK OF NEW YORK TR
4/28/2004 - $0
3/1/1994- $82,000
5/1/1972 - $24,280
The owner bought in 1994 for $82k. They must have refinanced or got a HELOC.
hog
Better put some radioactive granite countertops in that badboy...
http://www.nytimes.com/2008/07/24/garden/24granite.html?_r=1&oref=slogin
That house is pretty close to where I live and is down the street a bit from the one we discussed back with "Deutsche Bank tosses in the towel".
All of those houses are what we call "Hylton specials" built by Mr. Hylton with cheap materials and put together very quickly. Don't get me wrong, he did quality work overall and his materials were OK, but they were generally stuff left over from other projects or bought in extreme bulk, so all of the houses feel the same way.
And they're generally pretty ugly. Just from the exterior you can see this is not a 'nice' house. Given that it's also in a 'not nice' neighborhood--though one that is becoming nicer as the immigration crackdown takes effect--the price should not be surprising to anyone. And I might argue it's still overpriced. While you could probably buy that and rent it for a profit over a long enough period of time, it's not a property people will want to buy to live in if they can afford anything else.
Whatever bank agreed to refinance that POS for 282k was run by idiots.
I bet that owner had fun with that 200k they pulled out of it. If they took it and shorted Bear Stearns or Countrywide back in 04 they could retire today, lol.
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