Delusional? You wanna see delusional????

[AK]

Here’s a FSBO in the Emerald Point development near Oceanside Blvd. and College Ave., which is a nice, well-kept, if slightly claustrophobic tract of 3-4 BD starter homes.

In this development there are four active listings (three short sales and an REO) all with asking prices between $260K and $285K. A fifth (REO) just went pending this week, asking price around $220K.

But wait … there is a sixth house for sale, this one a FSBO:

http://www.forsalebyowner.com/listing/22344

“This property was the former model home: there are incredible 11 lights in garage, alarm system & central AC. … Few miles to Oceanside beach/pier, ocean breeze, close to freeway 78 & I-5. Property is liked new, excellent conditions, ready to move in. … Good for first time home buyers.”

Now for the asking price … make sure you’re sitting down.

“Sale Price $425,000 (firm).”

Oh, there is a lease-to-own option, but yeah, you know how those are.

[4plexowner]

lease-to-own is one way to try and recover from a bad RE investment

statistically, only 20% or so of lease-to-owns are ever purchased by the renter

landlord gets a premium rent and a tenant that takes care of the property and then gets to keep to property to boot

it doesn’t get much better than that!

[4plexowner]

lease-to-own is one way to try and recover from a bad RE investment

statistically, only 20% or so of lease-to-owns are ever purchased by the renter

landlord gets a premium rent and a tenant that takes care of the property and then gets to keep to property to boot

it doesn’t get much better than that!

[4plexowner]

lease-to-own is one way to try and recover from a bad RE investment

statistically, only 20% or so of lease-to-owns are ever purchased by the renter

landlord gets a premium rent and a tenant that takes care of the property and then gets to keep to property to boot

it doesn’t get much better than that!

[4plexowner]

lease-to-own is one way to try and recover from a bad RE investment

statistically, only 20% or so of lease-to-owns are ever purchased by the renter

landlord gets a premium rent and a tenant that takes care of the property and then gets to keep to property to boot

it doesn’t get much better than that!

[4plexowner]

lease-to-own is one way to try and recover from a bad RE investment

statistically, only 20% or so of lease-to-owns are ever purchased by the renter

landlord gets a premium rent and a tenant that takes care of the property and then gets to keep to property to boot

it doesn’t get much better than that!

[AK]

I’m surprised even 20% of lease-to-own deals ever go through.

[AK]

I’m surprised even 20% of lease-to-own deals ever go through.

[AK]

I’m surprised even 20% of lease-to-own deals ever go through.

[AK]

I’m surprised even 20% of lease-to-own deals ever go through.

[AK]

I’m surprised even 20% of lease-to-own deals ever go through.

[Blissful Ignoramus]

According to Zillow, it last sold in Sep 2003 for 327K.

Maybe they’re thinking that if someone comes in at 100K under the asking price, they won’t take a bath.

Anyway, you know things are pretty bad when people who bought 5+ years ago are looking at a good 20% price decline.

[Blissful Ignoramus]

According to Zillow, it last sold in Sep 2003 for 327K.

Maybe they’re thinking that if someone comes in at 100K under the asking price, they won’t take a bath.

Anyway, you know things are pretty bad when people who bought 5+ years ago are looking at a good 20% price decline.

[Blissful Ignoramus]

According to Zillow, it last sold in Sep 2003 for 327K.

Maybe they’re thinking that if someone comes in at 100K under the asking price, they won’t take a bath.

Anyway, you know things are pretty bad when people who bought 5+ years ago are looking at a good 20% price decline.

[Blissful Ignoramus]

According to Zillow, it last sold in Sep 2003 for 327K.

Maybe they’re thinking that if someone comes in at 100K under the asking price, they won’t take a bath.

Anyway, you know things are pretty bad when people who bought 5+ years ago are looking at a good 20% price decline.

[Author]

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