The stalled housing market continues to impact Charles Turner's flip project at 2356 NW Hoyt St.
He just dropped the asking price another $50,000. The new asking price is below $1 million ($999,950 to be specific).
The Original asking price in October 2008 was $1,195,000.
In January he dropped the asking price $45,000 to $1,150,000.
In February he dropped the asking price $25,000 to $1,125,000.
In March he dropped the asking price $25,000 to $1,100,000.
In May he dropped the asking price $50,000 to $1,050,000.
Total reduction is $195,050 or 16% and the home has been on the market for 8 months.
Records show Charles purchased the 'fixer upper' in May of 2008 for $535,150.00 under SAPPHIRE DEVELOPMENT LLC.
We do not know how much Charles has invested into the property but we do know he is personally liable if the LLC defaults.
Wednesday, June 10, 2009
Posted by Clint8200 at 3:35 PM