The new Historic Neighborhood "investor"

[mtraininjax]

real estate is only worth what someone is willing to pay for it. save your money, since March 2010, the Jax Bar assoc has had 3,450 cases to deal with in Duval alone with foreclosures.

[uptowngirl]

Don't worry guys, Springfield isn't the only historic neighborhood in which this is occurring.  1864 Challen Ave in Avondale, 2 doors from the river, sold in July '10 for $250k by a group of investors and it went back on the market immediately for $350k.   Its since been reduced to $329k.   Granted it needs at least $200k in renovations, but it would probably be worth $600k+ after.

At the end of the day it just might come back to bite the speculators in the ass.  Just to break even they'll probably have to get at least $285k for it after figuring carrying costs + closing costs.  As always, cash is king and the few folks that still have it in this economy will come out even better off as the economy slowly recovers.

Yes, I heard this is happening all over, except the city has a passion for tearing our historic homes down :-(

[sean]

Mr. Parra used to own that home. Property search shows that it was sold to

CORNER LOT PROPERTIES LLC
3621 HENRICKS AVE
JACKSONVILLE, FL 32207

For 30,000.00

They could atleast have the yard mowed.

[uptowngirl]

Sean, there was a bank involved in there somewhere. Also when I called the original FSBO # an agent with Watson was on the recording. When he called me back he said he had pruchased the home recently and had it listed for 60K but would take 55K.

[sean]

I know it was a REO and there is not much we can do about house flippers but what can we do in the way of discouraging this behavior?

[CS Foltz]

Contact Code Enforcement regarding the lawn.................don't buy when you know beyond doubt it is a flipper involved!

[uptowngirl]

I think if offers are coming in before the house is even on the MLS that is also reportable, this house was listed WELL below market, even needing a new roof. All transactions like this (fishy) should be reported, that would help- and that is what I am going to do :-)

[CS Foltz]

Makes sense to me uptowngirl! You have to start somewhere and thats as good as any!

[Miss Fixit]

Mr. Parra used to own that home. Property search shows that it was sold to

CORNER LOT PROPERTIES LLC
3621 HENRICKS AVE
JACKSONVILLE, FL 32207

For 30,000.00

They could atleast have the yard mowed.

The managing members of Corner Lot Properties LLC are Christian Allen, John Foshee, and J. Malcolm Jones.  They share an address with Brightway Insurance and that address is also listed for Castle Rock Realty.  John Foshee is also managing member of Castle Rock Realty.

Based on the earlier comments, this certainly seems like a situation in which a realtor might have unethically favored his own investor clients over the property owner (in this case, a bank) and the public.  There is nothing else that can explain the ridiculously low listing price.

[Springfielder]

Just last week there was a hand written sign on the lawn (there were 2) with the price of 59.500 cash. Then Thursday the lawn was mowed and the signs are gone....there's something very fishy about how all of the transactions with this house have been handled. All of the for sale signs are now gone....

[KuroiKetsunoHana]

yeah, it's getting quite ridiculous...my girlfriend hadn't heard about what's been goïng on with that house, and when she saw the 59 5 sign, she was all set to take out a loan--but in the time it took for her to get back to check the sign, it had disappeared.  when i realised what house she was talking about, i told her that was probably for the best.

[sean]

Someone bought it from corner lot investors for 33k?
http://apps.coj.net/pao_propertySearch/Basic/Detail.aspx?RE=0724080000

[CS Foltz]

Looks to me like the "Flippers" are still at it! Appears to be a paperwork transaction from one figure to another......kinda like the SMG doings! Let them sit on it.............hope they keep the lawn down to where it should be or someone will make that phone call to Code!

[JaxResident]

The person who purchased the property is a Realtor with Watson Realty.

http://www.7008knotts.com/

The Watson sign was outside the property for awhile. Now it is gone.

[CS Foltz]

Maybe since "Watson" got a fire deal on the SRG inventory, they are taking up where SRG left off at? One can only hope that they are in the mood to sweat and spend on to make this house like it used to be?