Open Mouthed @ Open House- Update
Why does the word Fraud come to mind?
A reader last summer sent in some details about an open house he visited in Sonoma 660 East MacArthur
The house at that time was priced at $1,395,000 and apparently it is a 1950 cottage turn cliche. He said it was remodeled with all the cliches we have come to expect. The granite countertops, the pottery barn colors and yadda yadda yadda... but there certainly were no solid gold toilets or bathtubs and he said what he found most interesting is what Zillow had to say about it.
660 E Macarthur St, Sonoma, CA 95476
Zillow Estimate: $669,320
660 East MacArthur's Market Value Change for 1 yr.
hmmm... but in October 2005 this house was sold for $712k
Then sold in two months later for $600k. $112,500k LESS just two months later... WTF?
Then a mere 6 months later it was up for sale again, and with an asking price of $1,395,000 and it sold for $1,258,000...
... and then just 1 month after the $1,258,000 sale it was put up for sale again with the same realty company, (Morgan Lane) and wonder of all wonders only the listing agents and the price changed. This listing price was $1,284,500
Then reported by SFGATE in their December 24th Homes sold report 660 Macarthur again changed hands... going down $84,500
Homes sold week of: Sunday, December 24, 2006
660 East MacArthur Street$1,200,000,
Look at the zillow valuations...
January 2002 Value: $221k
January 2003 Value: $280k
January 2004 Value: $300k
January 2005 Value: $400k
August 2006 Value: $669,320
You have GOT to be kidding!!!
Tax Assessment History: 2004
Property tax: $2,218
Assessed value bldgs: $105,939
Assessed value land: + $44,606
Total assessed value: = $150,545