4221 Mount Casas 92117, Clairemont

[NotCranky]

Good input sdduuuude,
I like this property.This is the ideal rehab property. It is bad enough that only someone with a little money, skills and time can handle it and it is a perfect rent and hold property. It is still priced too high. Maybe the premium for the big yard will hurt the accounting on this one as a rental. Maybe not.

Hopefully we get to where these(with any size lot) are closer to 200k and sitting around with some market time.

Like SDR said there will be more of these and eventually they will be sitting out there rotting with hardly any competition…or at least I hope so.

[jimg111]

multiple offers on it already.

[jimg111]

multiple offers on it already.

[jimg111]

multiple offers on it already.

[jimg111]

multiple offers on it already.

[jimg111]

multiple offers on it already.

[sdduuuude]

sdnativeson,

While you may have dreams of a lower market, which may come eventually, you aren’t in touch with current reality of the actual market.

Comps on 3/2 1200 sq. ft houses in the neighborhood easily put a non-trashed house in this area at $450K. With a huge lot, on a canyon, adding $100K to that isn’t out of the question. Here’s a similar-sized house on a tiny, near-canyon lot that sold for $500K in Jan.:

http://www.redfin.com/CA/SAN-DIEGO/4621-MOUNT-FORDE-AVE-92117/home/4966642

Here’s one for ya that closed last month. Sure, it’s a greater fool, but it shows the potential of a flip here.

http://www.redfin.com/CA/SAN-DIEGO/4501-MOUNT-HIGHPINE-PL-92117/home/4961413

So, back out $100K for remodelling and $35K for closing costs and will probably go for > $400K to a flipper.

[sdduuuude]

sdnativeson,

While you may have dreams of a lower market, which may come eventually, you aren’t in touch with current reality of the actual market.

Comps on 3/2 1200 sq. ft houses in the neighborhood easily put a non-trashed house in this area at $450K. With a huge lot, on a canyon, adding $100K to that isn’t out of the question. Here’s a similar-sized house on a tiny, near-canyon lot that sold for $500K in Jan.:

http://www.redfin.com/CA/SAN-DIEGO/4621-MOUNT-FORDE-AVE-92117/home/4966642

Here’s one for ya that closed last month. Sure, it’s a greater fool, but it shows the potential of a flip here.

http://www.redfin.com/CA/SAN-DIEGO/4501-MOUNT-HIGHPINE-PL-92117/home/4961413

So, back out $100K for remodelling and $35K for closing costs and will probably go for > $400K to a flipper.

[sdduuuude]

sdnativeson,

While you may have dreams of a lower market, which may come eventually, you aren’t in touch with current reality of the actual market.

Comps on 3/2 1200 sq. ft houses in the neighborhood easily put a non-trashed house in this area at $450K. With a huge lot, on a canyon, adding $100K to that isn’t out of the question. Here’s a similar-sized house on a tiny, near-canyon lot that sold for $500K in Jan.:

http://www.redfin.com/CA/SAN-DIEGO/4621-MOUNT-FORDE-AVE-92117/home/4966642

Here’s one for ya that closed last month. Sure, it’s a greater fool, but it shows the potential of a flip here.

http://www.redfin.com/CA/SAN-DIEGO/4501-MOUNT-HIGHPINE-PL-92117/home/4961413

So, back out $100K for remodelling and $35K for closing costs and will probably go for > $400K to a flipper.

[sdduuuude]

sdnativeson,

While you may have dreams of a lower market, which may come eventually, you aren’t in touch with current reality of the actual market.

Comps on 3/2 1200 sq. ft houses in the neighborhood easily put a non-trashed house in this area at $450K. With a huge lot, on a canyon, adding $100K to that isn’t out of the question. Here’s a similar-sized house on a tiny, near-canyon lot that sold for $500K in Jan.:

http://www.redfin.com/CA/SAN-DIEGO/4621-MOUNT-FORDE-AVE-92117/home/4966642

Here’s one for ya that closed last month. Sure, it’s a greater fool, but it shows the potential of a flip here.

http://www.redfin.com/CA/SAN-DIEGO/4501-MOUNT-HIGHPINE-PL-92117/home/4961413

So, back out $100K for remodelling and $35K for closing costs and will probably go for > $400K to a flipper.

[sdduuuude]

sdnativeson,

While you may have dreams of a lower market, which may come eventually, you aren’t in touch with current reality of the actual market.

Comps on 3/2 1200 sq. ft houses in the neighborhood easily put a non-trashed house in this area at $450K. With a huge lot, on a canyon, adding $100K to that isn’t out of the question. Here’s a similar-sized house on a tiny, near-canyon lot that sold for $500K in Jan.:

http://www.redfin.com/CA/SAN-DIEGO/4621-MOUNT-FORDE-AVE-92117/home/4966642

Here’s one for ya that closed last month. Sure, it’s a greater fool, but it shows the potential of a flip here.

http://www.redfin.com/CA/SAN-DIEGO/4501-MOUNT-HIGHPINE-PL-92117/home/4961413

So, back out $100K for remodelling and $35K for closing costs and will probably go for > $400K to a flipper.

[detourbeach]

I put an offer in on this house on Saturday…. 😉

[detourbeach]

I put an offer in on this house on Saturday…. 😉

[detourbeach]

I put an offer in on this house on Saturday…. 😉

[detourbeach]

I put an offer in on this house on Saturday…. 😉

[Author]

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