Photo from Connect MLSThis is another property in foreclosure that has recently closed. The house has 7 bedrooms, 9.1 bathrooms, a 5 car garage, the lot size is 81x295, and taxes are $28,370. This was posted today with a closing price of $1,400.000.
The property was originally listed for $2,699,000. It was later re-listed for $2,550,000. The house is not completely finished. On the inside it needs cabinets installed, flooring installed, moldings, woodworking, etc. So with the asking price as stated, you would need to have to finish the interior for living permits. The interesting fact is the selling price of 1,400.000. This places the land value at $58.00 per square foot. The last transaction in this area closed at $82.00 per foot with the house owner occupied.
Is this a true picture of the market today? I am placing a phone call with the agent to followup.
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