A Palm Springs house, purchased for $2.9 million in April 2022, is now for sale at $2.295 million, causing speculation about the $600k loss. The property had a significant gain in value, last traded for $3.5 million in 2022, and previously sold for $611,000 in 2021 before being sold for $1.3 million in 2023. The house flip resulted in a bank-owned short sale less than a year later, raising questions about the dramatic price changes.
A Palm Springs house sold for $1.3 million in 2023 after zero days on the market. It previously sold for $611,000 in 2021. How is that possible? This mother of all house flips has ended up in a bank-owned short sale less than one year later. https://t.co/uJlYevWHmO @quantanamo
A Palm Springs house sold for $1.3 million in 2023 after zero days on the market. It previously sold for $611,000 in 2021. How is that possible? This mother of all house flips has ended up in a bank-owned short sale less than one year later. https://t.co/cHDqlIgbpN
A Palm Springs house sold for $1.3 million in April 2023 after zero days on the market. It previously sold for $611,000 in 2021. How is that possible? This mother of all house flips ended up in a bank-owned short sale less than one year later. https://t.co/96qGxIm63o
The property last traded for $3.5 million in 2022, so it had a huge gain in value. https://t.co/9cwWYT60Wq
A Palm Springs house sold for $1.3 million in 2023. It’s now selling for $625,000. What went wrong? I viewed it to find out. https://t.co/AZd6ghkbnU
Palm Springs, California Purchased April 2022 for $2.9MM Now for sale at $2.295MM Trying to understand… Why lock in a $600k loss? You can’t be losing *that much* money just holding on? https://t.co/m7fYYmSSWM
Palms Springs home for sale Purchased April 2022 for $2.9MM Now for sale at $2.295MM What’s going on here? https://t.co/lgZ7rvsRbm