[purpleraine]

I've seen some nice homes at 66-75 a sq ft in Hemet. So you get a list price of 150,000 and with 12 offers it sells for 180,000.

Here's what happened in the last 2 weeks. We offered 169,000 on a list of 175,000. Two other offers. It was a short sale. The bank did not accept any of our offers. They foreclosed and sold the house to a group for 144,000. The group put in grass and paint and is now selling for 225,000 (won't get it in that market).

Question why didn't the bank approve a short sale of 169,000 and avoid the costs of foreclosing?

[dragnet2]

Question why didn't the bank approve a short sale of 169,000 and avoid the costs of foreclosing?

It was that bank that probably made the original loan.

[444Flyer]

“Question why didn’t the bank approve a short sale of 169,000 and avoid the costs of foreclosing?”

Just when you try to make some sense of the market, something like that pops up. Very weird. Is sure doesn’t make sense on paper.

I hope you find a great home at a great price you may be much happier with than that one.:)