Tracking Dollar Homes in San Bernardino

Tracking the properties

San Bernardino bought 62 homes from the Department of Housing and Urban Development for $1 from 2000 to 2002, selling most to investors who then sold them to low-income buyers. But the homes have continued to change hands, defeating the program's intent. Here are five homes, with the number of owners since they were first resold by the city and the latest sale price. For data on all 62 homes, go to www.latimes.com/dollarhomes.

1512 N. Wall Ave.

Owners: Eight

Square feet: 1,530

Starting price: $27,000

Latest price: $355,000

History: Sold in July 2000 for $27,000 to Alvarez & Associates, which sold the property in May 2001 to two buyers for $102,000. Countrywide Home Loans foreclosed on them in September 2003. HUD took over the home and sold it in February 2004 for $121,000. That buyer sold the home in February 2006 for $355,000. In July 2008, Bank of America foreclosed.

1455 N. G St.

Owners: Six

Square feet: 1,814

Starting price: $13,500

Latest price: $405,000

History: Sold in August 2000 for $13,500 to Alvarez & Associates, which first transferred it to another business under its umbrella before selling it to two buyers in August 2002 for $145,500. The buyers sold it for $300,000 in October 2004, doubling their money. That buyer in March 2007 sold it for $405,000, a 2,900% increase over the price the city received.

1064 N. D St.

Owners: Three

Square feet: 2,256

Starting price: $6,000

Latest price: $97,000

History: This home had been in foreclosure at least once before HUD took it over in 1998. The city sold it in November 2000 for $6,000 to California Capital Properties, which sold it in May 2001 for $97,000. That buyer refinanced twice, ending up in May 2005 with a $280,500 loan -- nearly three times the purchase price -- at an adjustable rate of 6.5%.

1228 N. Lugo Ave.

Owners: Four

Square feet: 1,382

Starting price: $48,000

Latest price: $180,000

History: Sold in June 2000 for $48,000 to ANR Industries. In March 2001, ANR sold the home for $101,000 -- more than double the purchase price -- to two buyers. In August 2004, those buyers sold the home for $180,000.

214 E. 4th St.

Owners: Four

Square feet: 1,343

Starting price: $0

Latest price: $360,000

History: The city gave the property in February 2006 to Meadowbrook Park Homes, which built a building on the land. It sold the building to a buyer in October 2007 for $360,000. The buyer had defaulted on her payments on a previous property in 1986 and lost another property to foreclosure that Fannie Mae took over for $268,291.

Sources: San Bernardino County property records, MDA DataQuick, and state and federal court records. Photographs by Ringo H.W. Chiu For The Times