What Do Foreclosures Look Like?
It’s not (always) what you think.
I came across this beauty in the MLS that was sold last year in El Dorado Hills.
5364 square feet, 4 bedroom, 7 bath.
Selling price? $1.16 million. Including an 800 Square Foot Racquetball Court.
Nifty.
The transaction history is fascinating.
The owners purchased the home in 1998 for $550,000, and took out a $100,00 line of credit within a month of that. In 2001 they obtained another line of credit for $200,000, refinancing the whole shooting match in 2002 for a $750,000 first and another $150,000 line of credit. Three years later, in 2005, they took out an adjustable rate first at $1,267,500 getting another line of credit a couple of months later for $292,500.
El Dorado Hills — That’s Where I Want to Be!
