24% Loss on modest condo conversion

[PerryChase]

4050 46TH ST #8
San Diego, CA 92105
Year Built: 1971
Listing Date: 07/25/06
On Market: 103 days
Type: CONDO/TH
Status: ACTIVE
MLS #: 066064576

Purchase Date
04/11/2005 $222,000
List Price: $169,000
Loss: $53,000 24%

SDlookup.com details

ZipRealty listing

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I see more and more of those short sales just browsing ZipRealty.

My feeling is that every person who bought a condo conversion since 2004 is now without equity.

[lindismith]

Huge loss!

I wish there was a way to do a keyword search on Zip for, “short”. I think we’d be staggered at the results.

I guess this might be the area sdrealtor was talking about when he said there were some condos coming online that made sense to buy? I’d say that condo, (isn’t it really still an aparment?) could easily be rented for $800/month.

[barnaby33]

Sure it could, but since it was built in 71, figure an extra 800 for upkeep!

Josh

[Anonymous]

if the condo was built in 1971 is there a big risk in buying now?

[Author]

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