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.
