San Diego Housing Bubble News and Analysis

I've identified a property, it sold for 760K
in 06 at peak of the bubble in DC.
It's now for sale at 299K, it's been 243 DOM
and the bank is now starting to get sick of it
sitting on their books.

it's halfway through a failed renovation, the electrical
looks complete, the plumbing is 90% done.

however all the permit apps are lost, so it's going
to be some wrestling iwth the city inspectors to
get those through.

it's weather tight, the renovation managed to wreck the utility of the upper floor, but if we
deck over the work, i think we can restore most of
the utility.

what i like is it has a basement apartment once
again about 90% ready to go.

bid cash get a construction loan fix the place up
and it will make a decent enough home.