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See the home at Waterfall Canyon Drive
| Friday, Mar 28 2008 4:05 PM
Last Updated: Friday, Mar 28 2008 3:27 PM
4109 Waterfall Canyon Drive
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4109 Waterfall Canyon Drive in south Bakersfield.
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Sold for $350,000 on Feb. 4
Last sold for: $560,000 in November 2005
Square feet: 2,405
Bedrooms: 4
Bathrooms: 3
ZIP code: 93313 (southwest)
Home history:
• The Department of Veterans Affairs bought the property from Bakersfield-based Michael and Robert Wattenbarger Inc. for an unknown amount in 2004.
• The agency sold the home to an individual in November 2005 (again, price is unknown).
• The new owners turned around and sold the home that same month for $560,000.
The buyers appear to have received 100 percent financing, with records showing a primary mortgage from Burbank-based WMC Mortgage Corp. for $448,000 and a second for $112,000.
• The home went into default in August 2007, and was foreclosed on in November. At the time of foreclosure, the borrowers owed $476,352 on the first loan alone.
• The home sold for $350,000 on Feb. 4.