Last sale in April 2005 for $315000.
Owned by Bank since April 2007. Original listing for $339900.
Then reduced to $239900.
Then furthre reduced to $115000.

We decide to buy it. I called the listing agent a couple of times but no answer as it is thanksgiving day today. We will continue to work on it.

We promised to buy with cash and also close within two weeks. We also offered to $120000.

The community is not a good one. Though, except for the other foreclosures, similar houses are listed around $250000 if the condition is good. The other foreclosures are also listed for at least $200000.

I also checked the historic sales data of the community and found the similar houses were sold for around $140000 in 2001.

This specific one needs $20000 to install carpet, fix water chute, ceiling, and various parts. This will bring the total cost to $140000. We want to sell it at $200000 in a few months. After the commission and other closing cost, we might be able to get a profit of $50000.

I will report once I sign the contract and the rehab is in process.

敬请期待。