To fulfill the entire frenzy experience, it’s good to review closed sales to see how crazy it can get.
Back on December 2, 2011, the bank’s opening bid at the trustee’s sale was $990,000 on this La Jolla house that had undergone a partial demo & rebuild (more demo than rebuild) – but no takers.
It goes into the bank’s REO inventory, and for some reason, a year goes by before they get around to selling it.
Last month they listed it for $924,900.
On Friday it closed for $1,120,000…..cash.
A video reminder: