Given prices in the Seattle Area have not dropped to the extent of most of the Country, people wonder why there are some deep discount short sales here. Mostly those that have a deep discount are in worse shape than when the current owner purchased them.
Remodels gone bad…very, very bad. If you know the house below, please don’t mention where it is or the address in the comments. I can’t “advertise” another agent’s listing, but wanted to give you an idea of what a house looks like that will likely sell for $200,000 -$300,000 less than what is currently owed on it.
Often the work being done is substandard, in this case likely because of all of the beer being consumed while doing the work.
Often you will see a lot of new materials, like the travertine above, but partial and poor installation. I think there were more broken pieces of travertine strewn about than there were full tiles laid.
Still, the view considerations suggest it may be a worthwhile project for someone, especially an owner occupant, if it sells close enough to lot value.
But rarely does anyone but an investor want the house with Killer Views and piles of dog poop.