Back on the market

A few posts down I commented on a Fairfax in Bay Meadow Village that went under contract (not a short sale)...I mentioned that if the sale closed near the asking price it would be a good sale for us here in Winston Trails as the price per sq. ft. would be higher than recent sales. Well, that home is now back on the market at a reduced asking price...now $269,000.

Fairfax under contract

A Fairfax on the lake in Bay Meadow, that was priced at $275,000 has gone under contract. If the home selles for anywhere near the asking price this will be excellent news for all of us homeowners in Winston Trails. The asking price equates to over $150 per sq. ft which is quite a bit higher than all of the recent sales in our community. We'll all be keeping our fingers crossed on this appraisal!

Short Sale...lender response

A short sale Fairfax model in Bay Meadow has come back on the market with a "bank approved" price of $205,000. The home was under contract at one point but the buyer did not consumate the deal.

The seller on this home purchased it in September of 2005...almost the exact high point...for $397,900...almost $220/sq ft , and it appears that they financed 100% of the purchase via what is known as an 80/20 loan...this is where the buyer gets an 80% 1st mortgage, usually to avoid the payment of PMI, then concurrently gets a 20% home equity line of credit to cover the rest.

Fairfax in Bay Meadow

A Fairfax  in Bay Meadow Village was just placed on the market with an asking price of $275k.

The sellers are the original owners who purchased the home on 1997 for $153,200. The home is not being marketed as a short sale.

Under contract...Bay Meadow Village

A Fairfax, 3/2/2, 1 story, 1814 sq ft, on Remington, just went under contract...this home was marketed as a short sale and was priced at $199,000. It was on the market for 8 days at that price.

This home has been on the market (on and off) since May of 2007 when it was priced at $435,000. The owner is now on their third real estate agent. These owners paid $397,900 in May of 2005 and it appears that it was a 100% financing purchase (80/20).

Winston Trails...new listing...tonight

A Fairfax (3/2/2), 1814 sq ft, 1 story Hovnanian built home on Remington in Bay Meadow Village was just put on the market at an asking price of $199,000.

This home is a short sale that has been on and off the market since May of 2007. The home was originally placed on the market at an asking price of $435,900.

The current owners paid $397,900 in september of 2005 and it appears that it was purchased using 100% financing (80/20).