Monday, May 4, 2009
Remember Illinois Ave?
My last post about this property generated a couple of comments so I thought I'd give an update.
Despite all of my outrage about the offer for 150K, my clients ran out of time and had to take it. It wasn't the outcome that I wanted for them but they needed the money. (A quick refresher: they were selling the house to fund an elderly Aunt's stay in a home.)
The deal closed in the beginning of April and I've been consumed with work. I hadn't thought about the property a lot.
Interestingly, when I was showing property on Saturday, I ran across Illinois Ave. again. Yep..the company that bought it is in the process of renovating and flipping it. It'll be available in June for $374,955.
You might have read about Express Homebuyers in the City Paper's Blog Housing Complex in April. This is the company that's listing Illinois Ave. It's not in the MLS yet. They are advertising the house in their weekly emails and flyers of current listings.
All is have to say is "hmmmmm." I can't decide how I feel about this. On one hand, good for Express Homebuyers. They're following their business plan and it's working. On the other hand, uf. I feel for my former clients. I wish they had more time to get a better price for the house. ESPECIALLY after seeing proposed listing price. Oh well. It's over now. But hmmmmmmmmmmm.