$50k loss on modest condo

[PerryChase]

6924 HYDE PARK DR #213, SD – San Carlos, CA 92119**
Bank owned property
MLS #: 066091192
Listing Price: $192,000

Look at the sale history. This one is a recent “investment” gone awry.

Sale History
04/14/2006: $242,000
12/18/2003: $190,000
06/15/1998: $47,000

[no_such_reality]

Bank owned in less than six months?

That’s not an investment gone awry.

[Diego Mamani]

Quarter of a million dollars for an apartment?? And so far inland!!! What were these people smoking? This is proof of how crazy things got during the now defunct bubble.

The $50K loss in an understatement, as the POS will likely sell for less than the new $192K asking price, not to mention carrying costs and 6% sales comission.

From Zillow: It’s a 1/1, 688 sf, built in 1974. What a joke. Probably it can be rented for no more than $1100, which tells me that its true value can’t be much more than $130K.

[PD]

I just received a flyer from Havnanian Homes on Cortez Blu & Gaslamp Square.
The front says:
“Hurry in and see what everyone is talking about.. before it is too late!” —- Yep, people are talking… about reductions.

On the back it says:
“Homes like these with prices like this won’t last forever!” —- Because we are reducing next week….

[(former)FormerSanDiegan]

Now this is bona-fide 2003 pricing !

[barnaby33]

I haven’t actually heard of, or sign a flyer where the developer said they were reducing next week. Usually its price reduced! Come on in. No mention of previous prices, just the shiny new one.

Josh

[(former)FormerSanDiegan]

Josh –
The quotes are the ads. The other comments are tongue-in-cheek comedy.

[PD]

Sorry for the confusion. I added my own comments.

[barnaby33]

Josh fooled, Josh feeling hurt. Josh softly weep.

Josh

[sdcellar]

Josh funny!

[Author]

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