Having just said that the purchase price equals the fair market price, here’s an exception

 

15 Linwood Drive

15 Linwood Drive

15 Linwood Drive, Riverside, was purchased by my clients from Deutsche Bank for $1.167 million in 2009. The mortgages owed at the time were somewhere around $1.7 million so we got a great deal (yes, they asked me to represent them now, no, I didn’t want to work with a relocation company). It’s listed today for $1.725 million, which I think is pretty close to where I’d place it and even accounting for the improvements they added, this is one of those buy low sell high cases where the owners are going to do very well indeed.

Great house, by the way.

141 Cat Rock

141 Cat Rock

And for those keeping track of sales, 141 Cat Rock, asking $1.295, sold for $1.175. 2 acres, decent house that needs work, but given land values, the house was free.

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