These San Rafael flippers have yet to reach the break even point. Here's the shake-down:
- 3 br 2 ba
- 1325 sq ft
- Built 1954
Price Reduced: 06/27/06 -- $859,888 to $849,000 (-2.3%)
Price Reduced: 07/19/06 -- $849,000 to $829,000 (-2.4%)
Total price reduction (so far): -3.6%
Last sold: December 8, 2005 for $602,500
Zillow.com's "Zestimate": $701,142
Assuming $58,030 for closing costs (7% of sales price, includes standard agent commission) they stand to make $168,470 for "owning" this house for eight months. Well see...
These San Rafael flippers have yet to reach the break even point. Here's the shake-down:
4 comments:
I'm just writing to point out that "Realtor" is a trademarked name and is not synonymous with "real estate agent". "Realtor" is a member of the National Association of Realtors and must be capitalized. Not all Realtor's are real estate agents and not all real estate agents are Realtors.
"Realtor" is a member of the National Association of Realtors and must be capitalized.
Sure, but I don't think errant capitalization can be proven as damaging to the NAR, especially for a non-commercial publication. Did I really just write that? LOL.
$600K or $830K...it's still junk.
Big skip.
I use "realtor" as commonly used by average people. Just like "bandaid" or "kleenex". But if it will make people happy I'll use an "R" and append with a "®". Sheesh.
The flippers must be getting desperate now, offering a rent-to-lease option: http://sfbay.craigslist.org/nby/apa/199979984.html
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