Real Estate Investment:Rancho Murieta Deal SMELLS Like Fish!

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Did you happen to watch Channel 10 Monday night when they aired a fishy story about a home that sold in Rancho Murieta?

Was this an inside job? Does this happen in other areas? Is there a cover up?

Well, for those who didn’t happen to see the news, it seems that a 3,803 square foot under priced luxury home sold in a mere 13 minutes from being entered into the MLS. 

You ask yourself why is that so unusual?  It IS… and in this case it seems that this house was a bank owned home for sale for about 0,000 under the going market for an asking price of 0,000.  You ask, who was the bank?  Oh, the bank was US Bank.

Ready for the kicker, the smelly fish?

Seems the asset manager for US Bank, Linda Merrihew who just so happens to own a home in Rancho Murieta and “guided the property through the foreclosure process” has a son Lance Merrihew who bought this under-priced luxury home in 13 minutes. oh yes, he owns another home in Rancho Murieta, too.  (Someone made a mistake on the sold price. MLS says 0,000 and the tax records say 5,000).  The smell just continues. Do you think the share holders at US Bank know about this one???

The fish smell is tremendous on this one!  It smells all the way from Rancho Murieta to Sacramento.

Bet you wish your mother worked as an asset manager and you could underpay and get a house in 13 minutes from it going public on MLS.  Wow, that’s pretty fast offering writing and approval!  Be sure to read Realtors Question Rancho Murieta Foreclosure Sale. 

Hey, maybe that’s a solution for all the home buyers having trouble getting their offers accepted…I’ll just become an asset manager…or not.