Back in January we noticed this house on Parker that was a Downey REO – back in the day when they had their own brokerage.
This was the one photo in the listing:
It was listed for $169,000, and the day after this video ran about it (link to previous youtube video):
Downey cancelled their own listing and gave it to a local agent, who closed it for $134,000 all-cash in March, 2009.
For those of you who’d appreciate the before-and-after look on these cheapies, here is a new video of the house next door that just listed for $139,000, and has multiple offers on it:
At the end of this video the camera peeks over the fence to look at the backyard of the house at the top – and you’ll see quite a difference. It looks like they may have rented it out, and probably got $1,300 to $1,500/month without too much trouble. In April, almost two months after paying $134,000 cash, they refinanced with a loan for $131,000.