How does a house valued at $260K in 2000 and $322K in 2005 sell for $1.65 mill both times? Is it a $1.65 mill house undervalued to lower the property tax bite of the high rollers that own/have owned the property?
Scroll down and click the link to check out the valuation and selling price for a "comparable home". $323K selling for $267K in 2007.
The same month that 0 allegedly bought the house that chart says the price estimate was $387,000 but he or someone paid 1.65 million. How could the numbers be so radically different? Do you or anyone know what the “60615 median” means? Could this have been a money laundering scheme? Or could it be evidence of a pay for future benefits scheme? This whole house deal keeps getting weirder and weirder from what I’ve been seeing.
I think the difference in price has to do with the restrictive covenant which the previous owners had placed on the vacant lot.
As I understand it, by having the vacant lot declared as single family residential instead of multi-family residential it increased the value of the home.