Can’t sell? Developer will buy your home

[La Jolla Renter]

Bugs,

Can you tell if Barratt has sold their entire inventory at Seahuas… the condo complex in Birdrock (La Jolla). Construction was completed in 2005 and I don’t think they have completely sold out.

I think the flippers in this complex are about to take a bath.

$800k in 2005 for a condo that rents for about $2,900 a month.

[La Jolla Renter]

Bugs,

Can you tell if Barratt has sold their entire inventory at Seahuas… the condo complex in Birdrock (La Jolla). Construction was completed in 2005 and I don’t think they have completely sold out.

I think the flippers in this complex are about to take a bath.

$800k in 2005 for a condo that rents for about $2,900 a month.

[(former)FormerSanDiegan]

Perhaps the builders think that the resale market is a bit stronger than the new home market ?

[(former)FormerSanDiegan]

Perhaps the builders think that the resale market is a bit stronger than the new home market ?

[PD]

This tactic probably allows the builder to cook their books somehow. Perhaps they put the loss in some other category but still make it look like the project was profitable? Further, the more people they entice with the plan, the more contracts they have to report, giving the illusion of strength.

[PD]

This tactic probably allows the builder to cook their books somehow. Perhaps they put the loss in some other category but still make it look like the project was profitable? Further, the more people they entice with the plan, the more contracts they have to report, giving the illusion of strength.

[SD Realtor]

Ja Jolla Renter this is just a guess but I think they are sold out… not sure but when I looked on the MLS all 12 active listings are being listed by a few different sales agents, although the majority happen to be with Prudential. The point is that none of the comments say anything about contacting the Barratt sales office. Usually if there are units left, there is a comment in there about contacting the sales office. This of course… is my guess…there could very well be units still left for sale by the developer.

SD Realtor

[SD Realtor]

Ja Jolla Renter this is just a guess but I think they are sold out… not sure but when I looked on the MLS all 12 active listings are being listed by a few different sales agents, although the majority happen to be with Prudential. The point is that none of the comments say anything about contacting the Barratt sales office. Usually if there are units left, there is a comment in there about contacting the sales office. This of course… is my guess…there could very well be units still left for sale by the developer.

SD Realtor

[mydogsarelazy]

We were at Barrington yesterday, a Lennar development in Temecula, and they said that starting today (6/6/07) they are initiating a home trade-in program.

JS

[mydogsarelazy]

We were at Barrington yesterday, a Lennar development in Temecula, and they said that starting today (6/6/07) they are initiating a home trade-in program.

JS

[kelly]

Thanks for your feedback; you’ve sent me in some good directions here. The story I was working on ran today, if you’re interested in checking it out: ‘We Buy Your House; You Buy Ours’

Keep me posted if you’ve got ideas you think should be tackled in a news story. You can always slide a note my way at kelly.bennett(at)voiceofsandiego.org

kb

[kelly]

Thanks for your feedback; you’ve sent me in some good directions here. The story I was working on ran today, if you’re interested in checking it out: ‘We Buy Your House; You Buy Ours’

Keep me posted if you’ve got ideas you think should be tackled in a news story. You can always slide a note my way at kelly.bennett(at)voiceofsandiego.org

kb

[davelj]

What about this guy Matt Battiata (the self-proclaimed #1 real estate agent in San Diego), the realtor who’s got a show on 103.7FM on the weekends. He “guarantees” a sale of your house within 30 days (might be 60 days) or his firm will buy your house. Obviously, there’s gotta be a catch…

**************** From his website***********

Guaranteed Sale Program
We will give you a guaranteed written offer on your home up front and in writing. This will give you the assurance that if your home does not sell in time to buy your next one, we will buy it at the up front agreed upon price. We think you’ll agree, shopping for homes is just more fun, when you know your home is already sold*.

*Certain conditions and restrictions apply. [Ed. – Translation: “We won’t be buying your house under any circumstances.”]

************************

I’d be curious to know how they come up with this “up front agreed upon price.” I’m betting it’s well below current list prices.

[davelj]

What about this guy Matt Battiata (the self-proclaimed #1 real estate agent in San Diego), the realtor who’s got a show on 103.7FM on the weekends. He “guarantees” a sale of your house within 30 days (might be 60 days) or his firm will buy your house. Obviously, there’s gotta be a catch…

**************** From his website***********

Guaranteed Sale Program
We will give you a guaranteed written offer on your home up front and in writing. This will give you the assurance that if your home does not sell in time to buy your next one, we will buy it at the up front agreed upon price. We think you’ll agree, shopping for homes is just more fun, when you know your home is already sold*.

*Certain conditions and restrictions apply. [Ed. – Translation: “We won’t be buying your house under any circumstances.”]

************************

I’d be curious to know how they come up with this “up front agreed upon price.” I’m betting it’s well below current list prices.

[Author]

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