Craziness returning 266K Increase in 4 months

[Raybyrnes]

Something doesn’t look right

Property History for 1235 Chalcedony St
Date Event Price Appreciation Source
Apr 08, 2011 Listed (Active) $776,000 — SANDICOR #110020676
Dec 22, 2010 Sold (Public Records) $510,000 -8.4%/yr Public Records
Dec 22, 2010 Sold (MLS) (Sold) $510,000 — Inactive SANDICOR #100016057
Mar 17, 2010 Pending (Contingent) — — Inactive SANDICOR #100016057
Mar 16, 2010 Listed (Active) $500,000 — Inactive SANDICOR #100016057
Sep 15, 2006 Sold (Public Records) $740,000 — Public Records

[UCGal]

They can ask anything they want.
It will be interesting to see what they CLOSE at.

Also – the sale that closed in December shows it was totally a “work in progress”. Like stripped to the studs.

http://www.redfin.com/CA/San-Diego/1235-Chalcedony-St-92109/home/5133783/sandicor-100016057

The new listing only has a picture of the outside- but at minumum we know they painted the outside. I’m assuming they finished it out.

If they did – then there is some value there to justify the price difference.

[UCGal]

They can ask anything they want.
It will be interesting to see what they CLOSE at.

Also – the sale that closed in December shows it was totally a “work in progress”. Like stripped to the studs.

http://www.redfin.com/CA/San-Diego/1235-Chalcedony-St-92109/home/5133783/sandicor-100016057

The new listing only has a picture of the outside- but at minumum we know they painted the outside. I’m assuming they finished it out.

If they did – then there is some value there to justify the price difference.

[UCGal]

They can ask anything they want.
It will be interesting to see what they CLOSE at.

Also – the sale that closed in December shows it was totally a “work in progress”. Like stripped to the studs.

http://www.redfin.com/CA/San-Diego/1235-Chalcedony-St-92109/home/5133783/sandicor-100016057

The new listing only has a picture of the outside- but at minumum we know they painted the outside. I’m assuming they finished it out.

If they did – then there is some value there to justify the price difference.

[UCGal]

They can ask anything they want.
It will be interesting to see what they CLOSE at.

Also – the sale that closed in December shows it was totally a “work in progress”. Like stripped to the studs.

http://www.redfin.com/CA/San-Diego/1235-Chalcedony-St-92109/home/5133783/sandicor-100016057

The new listing only has a picture of the outside- but at minumum we know they painted the outside. I’m assuming they finished it out.

If they did – then there is some value there to justify the price difference.

[UCGal]

They can ask anything they want.
It will be interesting to see what they CLOSE at.

Also – the sale that closed in December shows it was totally a “work in progress”. Like stripped to the studs.

http://www.redfin.com/CA/San-Diego/1235-Chalcedony-St-92109/home/5133783/sandicor-100016057

The new listing only has a picture of the outside- but at minumum we know they painted the outside. I’m assuming they finished it out.

If they did – then there is some value there to justify the price difference.

[CA renter]

In the previous listing, there wasn’t even any siding on the outside of the house, and it appears as though it was totally uninhabitable when previously listed.

I’m guessing it only qualified as a cash purchase, and it was picked up by flippers who re-did the entire thing (including a “new” garage, according to the listing).

I’ve seen worse than this, where the flippers hardly do anything at all, and then ask for these kinds of mark-ups — both in the NCC areas I follow, and in the parts of L.A. that I follow. All too often, they actually get pretty close to their asking price. At least the flippers on this house did something useful.

[CA renter]

In the previous listing, there wasn’t even any siding on the outside of the house, and it appears as though it was totally uninhabitable when previously listed.

I’m guessing it only qualified as a cash purchase, and it was picked up by flippers who re-did the entire thing (including a “new” garage, according to the listing).

I’ve seen worse than this, where the flippers hardly do anything at all, and then ask for these kinds of mark-ups — both in the NCC areas I follow, and in the parts of L.A. that I follow. All too often, they actually get pretty close to their asking price. At least the flippers on this house did something useful.

[CA renter]

In the previous listing, there wasn’t even any siding on the outside of the house, and it appears as though it was totally uninhabitable when previously listed.

I’m guessing it only qualified as a cash purchase, and it was picked up by flippers who re-did the entire thing (including a “new” garage, according to the listing).

I’ve seen worse than this, where the flippers hardly do anything at all, and then ask for these kinds of mark-ups — both in the NCC areas I follow, and in the parts of L.A. that I follow. All too often, they actually get pretty close to their asking price. At least the flippers on this house did something useful.

[CA renter]

In the previous listing, there wasn’t even any siding on the outside of the house, and it appears as though it was totally uninhabitable when previously listed.

I’m guessing it only qualified as a cash purchase, and it was picked up by flippers who re-did the entire thing (including a “new” garage, according to the listing).

I’ve seen worse than this, where the flippers hardly do anything at all, and then ask for these kinds of mark-ups — both in the NCC areas I follow, and in the parts of L.A. that I follow. All too often, they actually get pretty close to their asking price. At least the flippers on this house did something useful.

[CA renter]

In the previous listing, there wasn’t even any siding on the outside of the house, and it appears as though it was totally uninhabitable when previously listed.

I’m guessing it only qualified as a cash purchase, and it was picked up by flippers who re-did the entire thing (including a “new” garage, according to the listing).

I’ve seen worse than this, where the flippers hardly do anything at all, and then ask for these kinds of mark-ups — both in the NCC areas I follow, and in the parts of L.A. that I follow. All too often, they actually get pretty close to their asking price. At least the flippers on this house did something useful.

[jpinpb]

I’ve been seeing a lot more reasonably priced inventory in 92109. I’d be surprised if 1235 Chalcedony sells for 776k. Chalcedony is a good street. Maybe they can get 700k for it. But I wouldn’t do it. I think SFH in PB should be around 600-650k. I’ve complained about PB before. It is congested and the infrastructure can’t support all the new development. I continue to see SFH being purchased by buyer agent Kathy Evans, which means her developer partner is going to throw up 4 to 6 more townhomes. People have to put up w/a lot in PB besides the traffic and water/sewer main breaks (they had another one just recently). It’s not in a good school district. There are more and more negatives than positives in PB and it’s really hard to justify those bubble prices. The City is cutting back more and the means less cleaning of the beach, not to mention the homeless and drunks. I just can’t even imagine paying that much for a place in PB right now. Yet I’m sure it will sell. I just hope KY is used during the transaction.

I’m more offended by 740 Balboa LP $1,059,000. I mean, seriously. You can get a reallly nice place in PL or sdr’s Nirvana for that price. Redfin says, This home was sold at a foreclosed. for $251k. Don’t know if that was third party or if there were any other liens or encumberances against the place, if that was only the 2nd TD. In any case, a million for that place is outrageous, IMO. OPP is selling some nicely built places in that price range over there.

[jpinpb]

I’ve been seeing a lot more reasonably priced inventory in 92109. I’d be surprised if 1235 Chalcedony sells for 776k. Chalcedony is a good street. Maybe they can get 700k for it. But I wouldn’t do it. I think SFH in PB should be around 600-650k. I’ve complained about PB before. It is congested and the infrastructure can’t support all the new development. I continue to see SFH being purchased by buyer agent Kathy Evans, which means her developer partner is going to throw up 4 to 6 more townhomes. People have to put up w/a lot in PB besides the traffic and water/sewer main breaks (they had another one just recently). It’s not in a good school district. There are more and more negatives than positives in PB and it’s really hard to justify those bubble prices. The City is cutting back more and the means less cleaning of the beach, not to mention the homeless and drunks. I just can’t even imagine paying that much for a place in PB right now. Yet I’m sure it will sell. I just hope KY is used during the transaction.

I’m more offended by 740 Balboa LP $1,059,000. I mean, seriously. You can get a reallly nice place in PL or sdr’s Nirvana for that price. Redfin says, This home was sold at a foreclosed. for $251k. Don’t know if that was third party or if there were any other liens or encumberances against the place, if that was only the 2nd TD. In any case, a million for that place is outrageous, IMO. OPP is selling some nicely built places in that price range over there.

[jpinpb]

I’ve been seeing a lot more reasonably priced inventory in 92109. I’d be surprised if 1235 Chalcedony sells for 776k. Chalcedony is a good street. Maybe they can get 700k for it. But I wouldn’t do it. I think SFH in PB should be around 600-650k. I’ve complained about PB before. It is congested and the infrastructure can’t support all the new development. I continue to see SFH being purchased by buyer agent Kathy Evans, which means her developer partner is going to throw up 4 to 6 more townhomes. People have to put up w/a lot in PB besides the traffic and water/sewer main breaks (they had another one just recently). It’s not in a good school district. There are more and more negatives than positives in PB and it’s really hard to justify those bubble prices. The City is cutting back more and the means less cleaning of the beach, not to mention the homeless and drunks. I just can’t even imagine paying that much for a place in PB right now. Yet I’m sure it will sell. I just hope KY is used during the transaction.

I’m more offended by 740 Balboa LP $1,059,000. I mean, seriously. You can get a reallly nice place in PL or sdr’s Nirvana for that price. Redfin says, This home was sold at a foreclosed. for $251k. Don’t know if that was third party or if there were any other liens or encumberances against the place, if that was only the 2nd TD. In any case, a million for that place is outrageous, IMO. OPP is selling some nicely built places in that price range over there.

[jpinpb]

I’ve been seeing a lot more reasonably priced inventory in 92109. I’d be surprised if 1235 Chalcedony sells for 776k. Chalcedony is a good street. Maybe they can get 700k for it. But I wouldn’t do it. I think SFH in PB should be around 600-650k. I’ve complained about PB before. It is congested and the infrastructure can’t support all the new development. I continue to see SFH being purchased by buyer agent Kathy Evans, which means her developer partner is going to throw up 4 to 6 more townhomes. People have to put up w/a lot in PB besides the traffic and water/sewer main breaks (they had another one just recently). It’s not in a good school district. There are more and more negatives than positives in PB and it’s really hard to justify those bubble prices. The City is cutting back more and the means less cleaning of the beach, not to mention the homeless and drunks. I just can’t even imagine paying that much for a place in PB right now. Yet I’m sure it will sell. I just hope KY is used during the transaction.

I’m more offended by 740 Balboa LP $1,059,000. I mean, seriously. You can get a reallly nice place in PL or sdr’s Nirvana for that price. Redfin says, This home was sold at a foreclosed. for $251k. Don’t know if that was third party or if there were any other liens or encumberances against the place, if that was only the 2nd TD. In any case, a million for that place is outrageous, IMO. OPP is selling some nicely built places in that price range over there.

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