900 SOUTH Rd Belmont, CA 94002 – Realtor was foreclosed on

About half a year ago I wrote this post: 900 SOUTH Rd Belmont, CA 94002 – Realtor in Trouble?

It was the listing for a wooden shell for  1.3 million dollars owned and listed by a realtor based in Redwood City.  It seems that the home actually got foreclosed on in June by JP Morgan Chase  for the amount of $1,168,813 and went back on the market in late July for only $693,000.  It is an REO and now it is pending without release so if it actually sold for asking the bank is taking a hit of almost $500k.  I guess the lot is quite large, but the new pictures look like some people have been stealing wood from the place:

rubble.jpg

I hope the new owner finishes the home and enjoys it.

August 5, 2009 | Filed Under City of Belmont, Dollar loss: 400k to 500k, REO, Sqft: < 1000 

Comments

One Response to “900 SOUTH Rd Belmont, CA 94002 – Realtor was foreclosed on”

  1. Jimmy on August 15th, 2009 11:38 am

    900 South Rd. is back on the market asking $658k now. Looks like the previous offer fell through (it was due to close yesterday).

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