Remember my single family house #1 which I sold last year? Well I was doing my monthly real estate market check last week and I saw my old SFH#1 for sale. It had been on the market for 20 days and was listed at $240,000 as a short sale.
I sold the home for $380,000 in June 2007 and now in November 2008 it’s listed at $240,000. (Note: My sold price on my sold post is lower because I included commissions and closing costs).
The listing is using the same pictures that I took when I owned the home. There are only 2 photos, one of the outside and one of the pool. There are no interior photographs and no mention of the 100″ home theater room or theater chairs. My guess is that the owners either trashed the home or removed that stuff and that it is going into foreclosure soon.
Seeing a home that you owned for sale always brings up the question in my mind, “Maybe I should go buy that home back?” Aside from a small emotional attachment, I am intimately familiar with the home and neighborhood already. I know what the area rents for and I know the subdivision. At $240,000 it is no bargain in this market. But I wonder if the bank would take $100,000 or $150,000? A 3300sf home, 5 bedrooms, 3.5 baths for $150,000? Probably not a good idea to even think about it, but I’ll be watching it to see what happens.
Oh, I should mention that I always count my blessing that I sold it last year whenever I check real estate prices. That’s why I never complain about the REI market and my current holdings. I could be in much worse shape.