COMMENT OF THE DAY: IDYLWOOD APPRAISAL CASE CLOSED “All of you people are batsh!t crazy if you think you can get a house like that in Idylwood for the low $200’s. If houses LESS than 1300 sq ft have been selling for just under $200,000 or $145 to $150+ a foot. Do the math. 500 more sq ft, a second bath that not all of the other sales had and more upgrades for only $10,000 or so more? . . . This house has closed. It sold for $242,000 as well it should.” [Robert, commenting on Idling in Idylwood: Where’s a Friendly Appraiser When You Need One?]
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As has been shown by the economic collapse, which is still ongoing, there are many people with more money than sense.
Apparently, there are still some greater fools around.
Like the fools that comment on what homes are worth in Idylwood, when they would probably be lucky to even find Idylwood on a map.
So what was the deal? New appraisal? More cash? Conventional loan? Tax credit?
It appraised and closed conventional.