These owners bought this Bressi Ranch home new for $1,109,000 in July 2005, financed 90%, and refinanced three times since.

I’m fairly certain that this is the seller that called in mid-2007 asking about an offer-to-purchase that was presented to her by a certain realtor working the area, that included a kick-back of $100,000 to the brokerage, and raised the sales price to compensate.

I told her that I thought that she could be seen as a co-conspirator attempting to defraud a federally-insured bank.

The sellers listed it for sale instead, and vacated shortly thereafter. They have really struggled with a number of issues since, and fallen out of escrow at least two times. I don’t think they’ve made a payment since they left, but the NODs have come and gone.

In September, 2007, the list price was $1,300,000.

Today?  $799,900.

Here’s a youtube video tour:

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