Credit Card Brains

Peter Viles at the LA Times has put together a collection of foreclosure listings in LA.

Viles features one house on his blog L.A. Land: The foreclosure ‘discount’: 45% in Glassel Park. Check it out! Here is another:


Source: LA Times.

FORECLOSED: GLENDALE

3732 Mayfield Ave., Glendale 91214

Agent’s description: Bank-owned. Sold for $640,000 in 2007. Beautiful remodeled house on zero traffic tree lined street. Raised foundation, refinished hardwood floors, newer roof … private yard.

• Sales history (from PropertyShark.com): Sold for $640,000 in February 2007.

• Current listing price: $449,900

• Discount from sales price: 29.7%

Note that the discount is to the asking price for the REO.

Here is the listing at Realtor.com. This is a 2 Bed, 1 Bath, 1,054 Sq. Ft. house, on a 5,000 sq ft. lot built in 1951.

What the heck were people thinking in Feb 2007? $640K? Ouch.