13348 Shadetree Ct

[jpinpb]

Yep. Pretty much same price. Couple months ago listed for $1,299,000 to $1,449,000.

Now, 1.3 to 1.4, basically. These are others in the area for sale prices lower, except for one which is double the lot size. I included it just b/c for the ridiculous price, one could lowball the bigger one and be better off.

http://www.sdlookup.com/MLS-086030976-15069_Almond_Orchard_Ln_San_Diego_CA_92131

244 ppsf

http://www.sdlookup.com/MLS-086021116-13120_Downing_Ln_San_Diego_CA_92131

224 ppsf

http://www.sdlookup.com/MLS-086014113-11357_Silver_Oak_Ln_San_Diego_CA_92131

231 ppsf

My favorite: http://www.sdlookup.com/MLS-086027761-15533_Mission_Preserve_Pl_San_Diego_CA_92131

216 ppsf

This last one is prices more, but more than double the size lot w/pool http://www.sdlookup.com/MLS-086032427-11224_Deprise_Cove_San_Diego_CA_92131

[SD Realtor]

Navy off the top of my head I would say at least half of the distress sales in 92131 have been in Stonebridge. It has already taken a leg down of over 20% and more in some of the sales. The developers have been aggressive there as well though this spring there has been a bump in activity.

I would not worry about the reseller at this address, even if he gets his price, which I don’t see happening, there is not anything any of us can do about it.

Agreed with you it will be interesting to see what happens. Should leg down hard again within the next 2 years.

SD Realtor

[SD Realtor]

Navy off the top of my head I would say at least half of the distress sales in 92131 have been in Stonebridge. It has already taken a leg down of over 20% and more in some of the sales. The developers have been aggressive there as well though this spring there has been a bump in activity.

I would not worry about the reseller at this address, even if he gets his price, which I don’t see happening, there is not anything any of us can do about it.

Agreed with you it will be interesting to see what happens. Should leg down hard again within the next 2 years.

SD Realtor

[SD Realtor]

Navy off the top of my head I would say at least half of the distress sales in 92131 have been in Stonebridge. It has already taken a leg down of over 20% and more in some of the sales. The developers have been aggressive there as well though this spring there has been a bump in activity.

I would not worry about the reseller at this address, even if he gets his price, which I don’t see happening, there is not anything any of us can do about it.

Agreed with you it will be interesting to see what happens. Should leg down hard again within the next 2 years.

SD Realtor

[SD Realtor]

Navy off the top of my head I would say at least half of the distress sales in 92131 have been in Stonebridge. It has already taken a leg down of over 20% and more in some of the sales. The developers have been aggressive there as well though this spring there has been a bump in activity.

I would not worry about the reseller at this address, even if he gets his price, which I don’t see happening, there is not anything any of us can do about it.

Agreed with you it will be interesting to see what happens. Should leg down hard again within the next 2 years.

SD Realtor

[SD Realtor]

Navy off the top of my head I would say at least half of the distress sales in 92131 have been in Stonebridge. It has already taken a leg down of over 20% and more in some of the sales. The developers have been aggressive there as well though this spring there has been a bump in activity.

I would not worry about the reseller at this address, even if he gets his price, which I don’t see happening, there is not anything any of us can do about it.

Agreed with you it will be interesting to see what happens. Should leg down hard again within the next 2 years.

SD Realtor

[ocrenter]

let’s trace back a bit.

the flipper got it for $1,080,000 in 8/2007.

he did some exterior cosmetics and listed for $1.5 million, let’s just say $40k for the improvements (likely underestimation as he did go for brand new lawns, built-in bbq, pavers in the backyard, and new trees in the front.)

currently he is asking for $1,300,000 in May of ’08.

he was late paying his property tax of $20k, but he did finally manage to pay it.

assuming 5% commission, even at $1.3 million he’ll only be looking at $95,000 profit.

we know he had just 10% down, so his monthly mortgage runs roughly $6,400, after 10 months of holding this, he is out $64k.

so he’s basically hoping for a $30k paycheck on this?

[ocrenter]

let’s trace back a bit.

the flipper got it for $1,080,000 in 8/2007.

he did some exterior cosmetics and listed for $1.5 million, let’s just say $40k for the improvements (likely underestimation as he did go for brand new lawns, built-in bbq, pavers in the backyard, and new trees in the front.)

currently he is asking for $1,300,000 in May of ’08.

he was late paying his property tax of $20k, but he did finally manage to pay it.

assuming 5% commission, even at $1.3 million he’ll only be looking at $95,000 profit.

we know he had just 10% down, so his monthly mortgage runs roughly $6,400, after 10 months of holding this, he is out $64k.

so he’s basically hoping for a $30k paycheck on this?

[ocrenter]

let’s trace back a bit.

the flipper got it for $1,080,000 in 8/2007.

he did some exterior cosmetics and listed for $1.5 million, let’s just say $40k for the improvements (likely underestimation as he did go for brand new lawns, built-in bbq, pavers in the backyard, and new trees in the front.)

currently he is asking for $1,300,000 in May of ’08.

he was late paying his property tax of $20k, but he did finally manage to pay it.

assuming 5% commission, even at $1.3 million he’ll only be looking at $95,000 profit.

we know he had just 10% down, so his monthly mortgage runs roughly $6,400, after 10 months of holding this, he is out $64k.

so he’s basically hoping for a $30k paycheck on this?

[ocrenter]

let’s trace back a bit.

the flipper got it for $1,080,000 in 8/2007.

he did some exterior cosmetics and listed for $1.5 million, let’s just say $40k for the improvements (likely underestimation as he did go for brand new lawns, built-in bbq, pavers in the backyard, and new trees in the front.)

currently he is asking for $1,300,000 in May of ’08.

he was late paying his property tax of $20k, but he did finally manage to pay it.

assuming 5% commission, even at $1.3 million he’ll only be looking at $95,000 profit.

we know he had just 10% down, so his monthly mortgage runs roughly $6,400, after 10 months of holding this, he is out $64k.

so he’s basically hoping for a $30k paycheck on this?

[ocrenter]

let’s trace back a bit.

the flipper got it for $1,080,000 in 8/2007.

he did some exterior cosmetics and listed for $1.5 million, let’s just say $40k for the improvements (likely underestimation as he did go for brand new lawns, built-in bbq, pavers in the backyard, and new trees in the front.)

currently he is asking for $1,300,000 in May of ’08.

he was late paying his property tax of $20k, but he did finally manage to pay it.

assuming 5% commission, even at $1.3 million he’ll only be looking at $95,000 profit.

we know he had just 10% down, so his monthly mortgage runs roughly $6,400, after 10 months of holding this, he is out $64k.

so he’s basically hoping for a $30k paycheck on this?

[jpinpb]

Repeatingly admitting my horrendous math skills, does the 6400 a month include the HOAs and insurance? Must not be counting the property taxes, since you mentioned that seperately that it’s current. So they must not be paying the taxes monthly. Nevertheless, shouldn’t the property tax be included in the total, since it’s money spent, in effect. What were the taxes?

If he’s looking to make 30k out of all this, seems like quite a risk, especially w/other nicer homes in the area (some for less) with which to compete against.

The longer it takes to sell, that 30k will be shrinking.

[jpinpb]

Repeatingly admitting my horrendous math skills, does the 6400 a month include the HOAs and insurance? Must not be counting the property taxes, since you mentioned that seperately that it’s current. So they must not be paying the taxes monthly. Nevertheless, shouldn’t the property tax be included in the total, since it’s money spent, in effect. What were the taxes?

If he’s looking to make 30k out of all this, seems like quite a risk, especially w/other nicer homes in the area (some for less) with which to compete against.

The longer it takes to sell, that 30k will be shrinking.

[jpinpb]

Repeatingly admitting my horrendous math skills, does the 6400 a month include the HOAs and insurance? Must not be counting the property taxes, since you mentioned that seperately that it’s current. So they must not be paying the taxes monthly. Nevertheless, shouldn’t the property tax be included in the total, since it’s money spent, in effect. What were the taxes?

If he’s looking to make 30k out of all this, seems like quite a risk, especially w/other nicer homes in the area (some for less) with which to compete against.

The longer it takes to sell, that 30k will be shrinking.

[jpinpb]

Repeatingly admitting my horrendous math skills, does the 6400 a month include the HOAs and insurance? Must not be counting the property taxes, since you mentioned that seperately that it’s current. So they must not be paying the taxes monthly. Nevertheless, shouldn’t the property tax be included in the total, since it’s money spent, in effect. What were the taxes?

If he’s looking to make 30k out of all this, seems like quite a risk, especially w/other nicer homes in the area (some for less) with which to compete against.

The longer it takes to sell, that 30k will be shrinking.

[Author]

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