Latest Chapter in Fern Hill Foreclosure

Where: 26xx Kipling Ave. South (St. Louis Park’s Fern Hill Neighborhood)
What: 3 BR/3 Bath; almost 2,800 FSF home
How much: $429,900 (Pending)
Market time: 2 weeks

This home caught my eye because: 1) it just went pending; and 2) I didn’t recognize it — and I know the area extremely well, having sold numerous nearby homes.

Further thickening the plot: the current owner closed just four months ago.

In fact, the home has been the subject of two previous posts on this blog: “What’s Selling: Fern Hill Foreclosure“; “Multiple Offers and $40k Over Asking.”

If you haven’t already figured it out: this one was a flip — a supposedly extinct (or at least endangered) species in today’s housing bear market. The owner won a wild bidding war, paying $40k over the $165k asking price back in February.

They then did a gut remodel, adding more than 1,000 FSF (mostly in the basement).

Did they make money?

You’d certainly guess that they did.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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