Update: Bank losing money nothing to see here move along part the second

1601 NW 115Th Te Plantation, FL 33323 MLS ID# F887277

● Property Owner CITIBANK % EMC MORTGAGE CORPORATION
● 5 Bed, 4 Bath
● 4,570 Sq. Ft.
● Year Built: 1990
● Was on the MLS at $724,900
● Now On the MLS at $670,500
● Purchased on 5/11/2006 $1,300,000
● Former loss of $575,100 or about 44.2%
● Current losst of 629,500 or about 48.4%

So one month later "the market" has fallen over four percent! Assume six months and you can write off another 25% of this house's value, that's over a $150k. And 12 months, well let's just say buying now at any price is such a bad, bad gamble.

link back to previous post

No matter where you look its all the same news

4813 SE GRAHAM DR Stuart, FL 34997 MLS ID# R2917313

● New this week!
● 4 Bed, 2 Bath
● Year Built: 2006,
● On the MLS at $240,000
● Purchased on $387,800 Sale Date 4/3/2006
● For a loss of $147,800 or about 38.1%

Oh look all your neighbors have pools and you don't

11701 NW 23Rd St Plantation, FL 33323 MLS ID# F891247

● 3 Bed, 2 Bath
● Year Built: 1996
● On the MLS at $279,900
● Purchased on 10/8/2004 $430,000
● For a loss of $150,100 or about 34.9%

Almost half a million for a condo and it wasn't even on the beach, what were you thinking?

2901 NW 126th # 102 Sunrise, FL 33323 MLS ID# R2872279

● 2 Bed, 2.5 Bath
● 2,082 Sq. Ft.
● Year Built: 2007
● On the MLS at $289,000
● Purchased on 7/5/2007 $475,900
● For a loss of $186,900 or about 39.2%

Water front, swimming pool, lovely landscaping and a pending forclosure, priceless!

3304 NE 40Th St Fort Lauderdale, FL 33308 MLS ID# F903958l

● 3 Bed, 2.5 Bath
● 2,866 Sq. Ft.
● Year Built: 1974
● On the MLS at $1,200,000
● Purchased on 5/12/2006 $1,670,000
● For a loss of $470,000 or about 28.1%

Semi-private island, nice

3280 S Terra Mar Dr Lauderdale By the Sea, FL 33062 MLS ID# R2912422

● 3 Bed, 3 Bath
● 2,300 Sq. Ft.
● Year Built: 1954
● On the MLS at $729,000
● Purchased on 9/13/2005 $944,300
● For a loss of $215,300 or about 22.7%

Hey I can see this house from my apartment! (almost)

1973 SE 16Th Ct Lauderdale By The Sea, FL 33062 MLS ID# F906531

● Property Owner CHASE HOME FINANCE LLC % CHASE HOME FINANCE LLC
● 2 Bed, 2 Bath
● 1,768 Sq. Ft.
● Year Built: 1955
● On the MLS at $384,900
● Purchased on 1/11/2007 $840,000
● For a loss of $455,100 or about 54.1%

This is scary, east of US1 quality area

2620 SE 1St Ct Pompano Beach, FL 33062 MLS ID# F901285

● 2 Bed, 2 Bath
● 2,041 Sq. Ft.
● Year Built: 1956
● On the MLS at $279,000
● Purchased on 10/12/2006 $525,000
● For a loss of $246,000 or about 46.8%




2711 NE 23Rd St Pompano Beach, FL 33062 MLS ID# F837053

● 4 Bed, 2.5 Bath
● 2,650 Sq. Ft.
● Year Built: 1957
● On the MLS at $350,000
● Purchased on 8/19/2005 $559,000
● For a loss of $209,000 or about 37.3%


2681 NE 16Th St Pompano Beach, FL 33062 MLS ID# D1259800

● Property Owner EMC MORTGAGE CORP
● 5 Bed, 3 Bath
● 3,087 Sq. Ft.
● Year Built: 1958
● On the MLS at $390,750
● Purchased on 12/8/2006 $700,000
● For a loss of $309,250 or about 44.1%

1.4 million now less then a mill, and I'll guess lower still

2340 SE 8Th Ct Pompano Beach, FL 33062 MLS ID# M1114477

● 3 Bed, 2 Bath
● Year Built: 1959
● 2,318 sq ft
● On the MLS at $900,000
● Purchased on 8/30/2005 $1,400,000
● For a loss of $500,000 or about 35.7%

Bag holder, what this "owner" is

2519 SE 10Th St Pompano Beach, FL 33062 MLS ID# F885959

● 4 Bed, 3 Bath
● 2,293 Sq. Ft
● Year Built: 1958
● On the MLS at $799,000
● Purchased on 11/14/2006 $1,400,000
● For a loss of $601,000 or about 42.9%

Bubble History:

11/14/2006 $1,400,000
08/16/2004 $802,700
06/20/2003 $434,900
05/01/1993 $255,000
12/01/1978 $119,000

Honestly, you paid over a million for this crap house?

1841 W TERRA MAR DR Pompano Beach, FL 33062 MLS ID# R2904753

● Property Owner BANK OF NEW YORK TRUSTEE
● 2 Bed, 2 Bath
● Year Built: 1955
● 2,050 Sq. Ft.
● On the MLS at $799,000
● Purchased on 10/18/2005 $1,200,000
● For a loss of $401,000 or about 33.4%

This one is on the island side of the intracoastal very rich, but not as much now

1921 SE 18Th St Lauderdale By The Sea, FL 33062 MLS ID# F922142

● Property Owner WASHINGTON MUTUAL BANK FA % FIDELITY/WASHINGTON MUTUAL
● New this week!
● 3 Bed, 3 Bath
● Year Built: 1959
● On the MLS at $689,900
● Purchased on 3/31/2006 $1,100,000
● For a loss of $410,100 or about 37.2%

Almost a million dollar home no more

2612 SE 9TH ST Pompano Beach, FL 33062 MLS ID# R2892077

● Property Owner WELLS FARGO BANK C/O FIDELITY/OPTION ONE
● 3 Bed, 2 Bath
● 1,900 Sq. Ft.
● Year Built: 1958
● On the MLS at $529,900
● Purchased on 4/27/2006 $950,000
● For a loss of $420,100 or about 44.2%

Sales history:

4/27/2006 $950,000
5/16/2005 $825,000
8/28/2003 $595,000

Canal house still about 200k over priced, if you ask my opinion

2349 SE 12Th St Pompano Beach, FL 33062 MLS ID# D1246036

● 3 Bed, 1.5 Bath
● Year Built: 1965
● On the MLS at $600,000
● Purchased on 2/15/2006 $825,000
● For a loss of $225,000 or about 27.2%

Bonus Sales History:
02/15/2006 $825,000
12/12/1997 $206,000
10/01/1993 $195,000
05/01/1990 $141,000

Pre-Construction pricing 3 years post construction

3001 S Ocean Dr Unit: 939 E Hollywood, FL 33019 MLS ID# M1199053

● 1 Bed, 1 Bath
● 817 Sq. Ft.
● Year Built: 2005
● On the MLS at $180,000
● Purchased on 6/24/2005 $300,000
● For a loss of $120,000 or about 40%

Sales history:

6/24/2005 $300,000
4/01/2005 $193,900

Letting the air out of the bubble circa 2004, no bottom in this here year either

2501 S Ocean Dr Unit: 536 Hollywood, FL 33019 MLS ID# D1266644

● New this week!
● 2 Bed, 2 Bath
● Year Built: 2004
● On the MLS at $359,000
● Purchased on 6/21/2006 $597,000
● For a loss of $238,000 or about 39.8%

Bonus sales history!

6/21/2006 $597,000
6/16/2005 $408,000
9/30/2004 $344,000

But I don't want it at over half a million because its still over priced, duh!

3001 S Ocean Dr Unit: 1611 Hollywood, FL 33019 MLS ID# M1168289

● 3 Bed, 2 Bath
● Year Built: 2005
● On the MLS at $575,000
● Purchased on 12/23/2005 $995,000
● For a loss of $420,000 or about 42.2%



6001 N Ocean Dr Unit: 803 Hollywood, FL 33019 MLS ID# M1191590

● 2 Bed, 2.5 Bath
● 1,800 Sq. Ft.
● Year Built: 2000
● On the MLS at $555,000
● Purchased on 3/22/2006 $950,000
● For a loss of $395000 or about 41.5%

Boca Raton bubbled and burst no better no worse

410 7th Ter Boca Raton, FL 33486 MLS ID# R2914252

● New this week!
● 2 Bed, 2 Bath
● 1,885 Sq. Ft.
● On the MLS at $259,900
● Purchased on Nov-2005 $419,900
● For a loss of $160,000 or about 38.1%

Oh hey look the exact same guy "owns" this house too! Real Estate investor!!

851 Sw 7th St Boca Raton, FL 33486 MLS ID# R2914253

● New this week!
● 2 Bed, 2 Bath
● 1,949 Sq. Ft.
● Year Built: 1963
● On the MLS at $274,900
● Purchased on Nov-2005 $419,900
● For a loss of $145000 or about 34.5%

Latest UPDATE! Protected neighborhood house loses some protection

TheSixteenthHour prior blog post on this house

783 CAMINO LAKES Cir Boca Raton, FL 33486 MLS ID# R2800922

We were told in no uncertain terms about 7 or 8 months ago that this neighborhood was "protected" and that this house would sell for the high 500's by its realestator at an open house. And I'm jut going to keep repeating it here.

Now on the mls at $549,000

And just a reminder here's the nearly identical house in the same area:

1041 SW 17TH St Boca Raton, FL 33486 MLS ID# R2760581

● 4 Bed, 3 Bath
● 3,276 Sq. Ft.
● Year Built: 1981
● On the MLS at $429,000 back in Feburary now at $399,000
● Purchased on Jan-2006 $639,300
● For a loss of $240,300 or about 37.5%




Oh hey look at this one! Number 1 on map, number 2 is the protected house.

921 SW 19th St Boca Raton, FL 33486 MLS ID# R2914527

● New this week!
● 2 Bed, 2 Bath
● 2,136 Sq. Ft.
● Year Built: 1977
● On the MLS at $319,000
● Purchased on Sep-2004 $380,000
● For a loss of $61,000 or about 16%

"NO LETTERS OF INTENT/NO VERBAL OFFERS." Don't worry at this price you won't be getting any!

1850 S Ocean Dr Unit: 1407 Hallandale, FL 33009 MLS ID# F895163

● Property Owner U S BANK NATIONAL ASSN % ADVANTA/CHASE MTGE CO
● 2 Bed, 3 Bath
● Year Built: 2007
● On the MLS at $505,000
● Purchased on 5/4/2006 $910,000
● For a loss of $405,000 or about 44.5%

I have some bad news for you, your neighbor is underselling you at a huge PROFIT!

3161 South Ocean Dr Unit: 705 Hallandale, FL 33009 MLS ID# H844407

● New this week!
● 2 Bed, 2 Bath
● Year Built: 1971
● On the MLS at $239,500
● Purchased on 11/24/2006 $370,000
● For a loss of $130,500 or about 35.2%

Sales History Bonus!
11/24/2006 $370,000
11/09/1999 $87,000
09/21/1996 $66,000
12/01/1987 $58,000


3161 South Ocean Dr Unit:309 Hallandale, FL 33009 MLS ID# M1160994

● 2 Bed, 2 Bath
● Year Built: 1971
● On the MLS at $175,000
● Purchased on 4/1/1978 $37,000
● For a GAIN of $138,000 or about 372.9%

Brand New Construction, almost.

5378 SW 183Rd Av Miramar, FL 33029 MLS ID# F902832

● 4 Bed, 3 Bath
● 3,146 Sq. Ft.
● Year Built: 2007
● On the MLS at $569,000
● Purchased on 4/20/2007 $654,100
● For a loss of $85,100 or about 13%

And still more swampland underwater, do you even care any more? I didn't think so.

2213 SW 173Rd Av Miramar, FL 33029 MLS ID# F906897

● 3 Bed, 2 Bath
● 1,651 Sq. Ft.
● Year Built: 1997
● On the MLS at $249,942
● Purchased on 9/15/2005 $355,000
● For a loss of $105,058 or about 29.5%

The asking price ending in "942" was so wierd I was sure it was REO or you know bank owned, sign of the times or what that you want buyers to think its a foreclosure in order to sell?

Sales History Bonus!

9/15/2005 $355,000
7/08/2003 $214,000
1/17/1997 $129,400




2567 SW 177Th Av Miramar, FL 33029 MLS ID# F892817

● Property Owner U S BANK NATIONAL ASSN % AMERICA'S SERVICING COMPANY
● 4 Bed, 2 Bath
● 1,672 Sq. Ft.
● Year Built: 1996
● On the MLS at $265,000
● Purchased on 3/8/2006 $400,000
● For a loss of $135,000 or about 33.7%

Oh, and here is one actually bank owned with out a wierd price go figure.

Fun with sales history part 2:

3/08/2006 $400,000
7/13/2001 $144,000
5/03/1995 $127,700




4145 SW 190Th Av Miramar, FL 33029 MLS ID# M1224071

● New This Week!
● 5 Bed, 3.5 Bath
● 4,610 Sq. Ft.
● Year Built: 2003
● On the MLS at $599,000
● Purchased on 1/29/2007 $950,000
● For a loss of $351,000 or about 36.9%




19433 SW 55Th St Miramar, FL 33029 MLS ID# M1211970

● 6 Bed, 4 Bath
● 4,239 Sq. Ft.
● Year Built: 2004
● On the MLS at $593,812
● Purchased on 4/30/2007 $950,000
● For a loss of $356,188 or about 37.4%

UPDATED,UPDATE: If any or all of the info in this post is in error, then... Happy April Fools Day!

20 Hickory Street Pt.Jefferson Sta, NY 11776 MLS ID# 2057598

● 3 Bed, 1.5 Bath
● 0.83 Acres
● Year Built: 1979
● On the MLS at $249,900
● Purchased on July 1999 $160,000
● Foreclosed (Sold) on 01/17/2008: $308,987

If you are wondering why I'm posting this place it's because one of my readers is very interested in it and you know who you are :)

Again I apologize if any of this information is incorrect but this house is a little out of my usual area so I'm using sources that I'm not fully comfortable with and some guess work as well.

Is my blog to blame for the broken link to realtor.com? Yes, yes it is, that is the power of my tiny unread blog to drive realtors nuts! Unless its not. Any way you can't hide from the Google! Courtesy of the Google a new unbroken link!!!

● On the MLS at $249,900




● On the MLS at $349,900