Del Cerro View Homes

[betting on fall]

I don’t think is so much that prices are staying high as it is that so few houses are actually selling, so there really is no clear trend.

There were two houses for sale on Lourdes Terrace all last fall and winter. (near bottom of hill, just below the condos) Both were vacant and listed around $1m. I thought that the owners would have to give in an lower prices, but they pulled them off market and I think both were rented out.

There was a “must sell” flip gone bad on Madra (5980?) that finally sold at the end of 2007. It was first listed at up to 1.6m, and sold for less than $1m. I think it was about 3500 sq ft and some very extensive rehab work was done there.

I think this is the pattern your seeing in a lot of older neighboorhoods. The “must sells” get marked down until they seem like a value compared to prior comps, then someone scoops them up. Those that don’t need to sell refuse to budge.

[CMcG]

I agree with Rustico about Madra. People use that as a shortcut (avoiding the rest of College and Navajo Road) to get to the area on the other side (neighborhoods around Patrick Henry High)and many drive screaming fast because it’s a fun (well, I thought it was in my 20s) curvy drive. I would worry every day about backing out of the garage.

[CMcG]

I agree with Rustico about Madra. People use that as a shortcut (avoiding the rest of College and Navajo Road) to get to the area on the other side (neighborhoods around Patrick Henry High)and many drive screaming fast because it’s a fun (well, I thought it was in my 20s) curvy drive. I would worry every day about backing out of the garage.

[CMcG]

I agree with Rustico about Madra. People use that as a shortcut (avoiding the rest of College and Navajo Road) to get to the area on the other side (neighborhoods around Patrick Henry High)and many drive screaming fast because it’s a fun (well, I thought it was in my 20s) curvy drive. I would worry every day about backing out of the garage.

[CMcG]

I agree with Rustico about Madra. People use that as a shortcut (avoiding the rest of College and Navajo Road) to get to the area on the other side (neighborhoods around Patrick Henry High)and many drive screaming fast because it’s a fun (well, I thought it was in my 20s) curvy drive. I would worry every day about backing out of the garage.

[CMcG]

I agree with Rustico about Madra. People use that as a shortcut (avoiding the rest of College and Navajo Road) to get to the area on the other side (neighborhoods around Patrick Henry High)and many drive screaming fast because it’s a fun (well, I thought it was in my 20s) curvy drive. I would worry every day about backing out of the garage.

[poway_seller]

with this stimulus package raising conforming, you can likely get any of the 700-950 places with roughly 20% down and get a conforming loan soon. that’s huge! jumbo is at least 1% higher than conforming.. do you think we will see the activity in these established neighborhood just above conforming start to pick up again? does this change your sentiment Tumbles? it shure does for me, to get conforming will make things so much easier.

[poway_seller]

with this stimulus package raising conforming, you can likely get any of the 700-950 places with roughly 20% down and get a conforming loan soon. that’s huge! jumbo is at least 1% higher than conforming.. do you think we will see the activity in these established neighborhood just above conforming start to pick up again? does this change your sentiment Tumbles? it shure does for me, to get conforming will make things so much easier.

[poway_seller]

with this stimulus package raising conforming, you can likely get any of the 700-950 places with roughly 20% down and get a conforming loan soon. that’s huge! jumbo is at least 1% higher than conforming.. do you think we will see the activity in these established neighborhood just above conforming start to pick up again? does this change your sentiment Tumbles? it shure does for me, to get conforming will make things so much easier.

[poway_seller]

with this stimulus package raising conforming, you can likely get any of the 700-950 places with roughly 20% down and get a conforming loan soon. that’s huge! jumbo is at least 1% higher than conforming.. do you think we will see the activity in these established neighborhood just above conforming start to pick up again? does this change your sentiment Tumbles? it shure does for me, to get conforming will make things so much easier.

[poway_seller]

with this stimulus package raising conforming, you can likely get any of the 700-950 places with roughly 20% down and get a conforming loan soon. that’s huge! jumbo is at least 1% higher than conforming.. do you think we will see the activity in these established neighborhood just above conforming start to pick up again? does this change your sentiment Tumbles? it shure does for me, to get conforming will make things so much easier.

[macmichael]

There was a “must sell” flip gone bad on Madra (5980?) that finally sold at the end of 2007. It was first listed at up to 1.6m, and sold for less than $1m. I think it was about 3500 sq ft and some very extensive rehab work was done there.

You are right this was flip gone very very bad. They paid 869K and it took almost 2 years and probably put in about 150 – 200 in renovation costs. So cost including carrying was about 1.150 – 1.2. Sold recently for 970 as I recall. Buyers got a pretty good deal, but there were lots of stuff done in the remodel that didn’t come out well and looked cheap.

I looked at this hard to buy for myself, but knowing all that was needed my target at the time was $ 700 and they wouldn’t listen to a number at that level. So another fish caught the knife.

[macmichael]

There was a “must sell” flip gone bad on Madra (5980?) that finally sold at the end of 2007. It was first listed at up to 1.6m, and sold for less than $1m. I think it was about 3500 sq ft and some very extensive rehab work was done there.

You are right this was flip gone very very bad. They paid 869K and it took almost 2 years and probably put in about 150 – 200 in renovation costs. So cost including carrying was about 1.150 – 1.2. Sold recently for 970 as I recall. Buyers got a pretty good deal, but there were lots of stuff done in the remodel that didn’t come out well and looked cheap.

I looked at this hard to buy for myself, but knowing all that was needed my target at the time was $ 700 and they wouldn’t listen to a number at that level. So another fish caught the knife.

[macmichael]

There was a “must sell” flip gone bad on Madra (5980?) that finally sold at the end of 2007. It was first listed at up to 1.6m, and sold for less than $1m. I think it was about 3500 sq ft and some very extensive rehab work was done there.

You are right this was flip gone very very bad. They paid 869K and it took almost 2 years and probably put in about 150 – 200 in renovation costs. So cost including carrying was about 1.150 – 1.2. Sold recently for 970 as I recall. Buyers got a pretty good deal, but there were lots of stuff done in the remodel that didn’t come out well and looked cheap.

I looked at this hard to buy for myself, but knowing all that was needed my target at the time was $ 700 and they wouldn’t listen to a number at that level. So another fish caught the knife.

[macmichael]

There was a “must sell” flip gone bad on Madra (5980?) that finally sold at the end of 2007. It was first listed at up to 1.6m, and sold for less than $1m. I think it was about 3500 sq ft and some very extensive rehab work was done there.

You are right this was flip gone very very bad. They paid 869K and it took almost 2 years and probably put in about 150 – 200 in renovation costs. So cost including carrying was about 1.150 – 1.2. Sold recently for 970 as I recall. Buyers got a pretty good deal, but there were lots of stuff done in the remodel that didn’t come out well and looked cheap.

I looked at this hard to buy for myself, but knowing all that was needed my target at the time was $ 700 and they wouldn’t listen to a number at that level. So another fish caught the knife.

[Author]

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