First crack in the high end?

[larrylujack]

“Another interesting one. This is in Carlsbad, linky. Bought in 09/29/2006 for $1,700,000, now, it’s bank owned and is asking $1.1M. That’s a 600k price in in 2 years.”

yes, what a gem, power lines front and back, no pool and lousy curb appeal, what a POS gawdawful dump. No wonder it is BO’d. If they get 500k they would be lucky.
sorry AN, but this place is a sh.t hole.

[an]

larrylujack, does it really matter if it’s a castle or a dump? $600k off asking from last sold is still $600k, however you slice it. You wouldn’t buy it for more than $500k but obviously, the last person was willing to pay $1.7M for it.

[an]

larrylujack, does it really matter if it’s a castle or a dump? $600k off asking from last sold is still $600k, however you slice it. You wouldn’t buy it for more than $500k but obviously, the last person was willing to pay $1.7M for it.

[an]

larrylujack, does it really matter if it’s a castle or a dump? $600k off asking from last sold is still $600k, however you slice it. You wouldn’t buy it for more than $500k but obviously, the last person was willing to pay $1.7M for it.

[an]

larrylujack, does it really matter if it’s a castle or a dump? $600k off asking from last sold is still $600k, however you slice it. You wouldn’t buy it for more than $500k but obviously, the last person was willing to pay $1.7M for it.

[an]

larrylujack, does it really matter if it’s a castle or a dump? $600k off asking from last sold is still $600k, however you slice it. You wouldn’t buy it for more than $500k but obviously, the last person was willing to pay $1.7M for it.

[temeculaguy]

No need for arguing but larry has a point. If there was ever a poster child for the bubble, it is 1.7 million for that house. And if there ever was a reason to think that 40% off is nothing more than the tip of the iceburg, it is that house at 1.1 mil. 20 years ago that would be nothing more than a surfer/stoner flop house and today it is a flip that someone painted and called it a luxury pad worth millions but they didn’t even paint it.

I wouldn’t pay 500k for it and I wouldn’t pay over 2k to rent it and you know my standards aren’t too high, I live in Temecula. There is a freakin power pole blocking the view and one in the back yard!!!! Even if it came with a stripper to dance on the pole, sorry, no sale, well, maybe. Real estate is part emotion, but if the house makes me wish for a stucco box in the desert, it does not merit seven digits and it never should have.

Still, Asia, it is a good find for it’s mathematical significance as to the cracks in the high end.

[temeculaguy]

No need for arguing but larry has a point. If there was ever a poster child for the bubble, it is 1.7 million for that house. And if there ever was a reason to think that 40% off is nothing more than the tip of the iceburg, it is that house at 1.1 mil. 20 years ago that would be nothing more than a surfer/stoner flop house and today it is a flip that someone painted and called it a luxury pad worth millions but they didn’t even paint it.

I wouldn’t pay 500k for it and I wouldn’t pay over 2k to rent it and you know my standards aren’t too high, I live in Temecula. There is a freakin power pole blocking the view and one in the back yard!!!! Even if it came with a stripper to dance on the pole, sorry, no sale, well, maybe. Real estate is part emotion, but if the house makes me wish for a stucco box in the desert, it does not merit seven digits and it never should have.

Still, Asia, it is a good find for it’s mathematical significance as to the cracks in the high end.

[temeculaguy]

No need for arguing but larry has a point. If there was ever a poster child for the bubble, it is 1.7 million for that house. And if there ever was a reason to think that 40% off is nothing more than the tip of the iceburg, it is that house at 1.1 mil. 20 years ago that would be nothing more than a surfer/stoner flop house and today it is a flip that someone painted and called it a luxury pad worth millions but they didn’t even paint it.

I wouldn’t pay 500k for it and I wouldn’t pay over 2k to rent it and you know my standards aren’t too high, I live in Temecula. There is a freakin power pole blocking the view and one in the back yard!!!! Even if it came with a stripper to dance on the pole, sorry, no sale, well, maybe. Real estate is part emotion, but if the house makes me wish for a stucco box in the desert, it does not merit seven digits and it never should have.

Still, Asia, it is a good find for it’s mathematical significance as to the cracks in the high end.

[temeculaguy]

No need for arguing but larry has a point. If there was ever a poster child for the bubble, it is 1.7 million for that house. And if there ever was a reason to think that 40% off is nothing more than the tip of the iceburg, it is that house at 1.1 mil. 20 years ago that would be nothing more than a surfer/stoner flop house and today it is a flip that someone painted and called it a luxury pad worth millions but they didn’t even paint it.

I wouldn’t pay 500k for it and I wouldn’t pay over 2k to rent it and you know my standards aren’t too high, I live in Temecula. There is a freakin power pole blocking the view and one in the back yard!!!! Even if it came with a stripper to dance on the pole, sorry, no sale, well, maybe. Real estate is part emotion, but if the house makes me wish for a stucco box in the desert, it does not merit seven digits and it never should have.

Still, Asia, it is a good find for it’s mathematical significance as to the cracks in the high end.

[temeculaguy]

No need for arguing but larry has a point. If there was ever a poster child for the bubble, it is 1.7 million for that house. And if there ever was a reason to think that 40% off is nothing more than the tip of the iceburg, it is that house at 1.1 mil. 20 years ago that would be nothing more than a surfer/stoner flop house and today it is a flip that someone painted and called it a luxury pad worth millions but they didn’t even paint it.

I wouldn’t pay 500k for it and I wouldn’t pay over 2k to rent it and you know my standards aren’t too high, I live in Temecula. There is a freakin power pole blocking the view and one in the back yard!!!! Even if it came with a stripper to dance on the pole, sorry, no sale, well, maybe. Real estate is part emotion, but if the house makes me wish for a stucco box in the desert, it does not merit seven digits and it never should have.

Still, Asia, it is a good find for it’s mathematical significance as to the cracks in the high end.

[an]

TG, I agree that some people wouldn’t even consider that place even if it’s asking for $200k. But I don’t think it’s any more of a poster child of this bubble than most other places in CA. This house did not just got expensive recent with the bubble. If you look at past sales history, it was sold for $325k in 1986. Here’s a frame of reference, in 1987, this house in La Jolla was sold for $335k. They’re asking for $1,578,000 to $1,650,000 right now. As you can see, it’s priced very similar to this La Jolla house from as far back as 1986 up to recently, before the massive REO price cut. Do you get my point?

[an]

TG, I agree that some people wouldn’t even consider that place even if it’s asking for $200k. But I don’t think it’s any more of a poster child of this bubble than most other places in CA. This house did not just got expensive recent with the bubble. If you look at past sales history, it was sold for $325k in 1986. Here’s a frame of reference, in 1987, this house in La Jolla was sold for $335k. They’re asking for $1,578,000 to $1,650,000 right now. As you can see, it’s priced very similar to this La Jolla house from as far back as 1986 up to recently, before the massive REO price cut. Do you get my point?

[an]

TG, I agree that some people wouldn’t even consider that place even if it’s asking for $200k. But I don’t think it’s any more of a poster child of this bubble than most other places in CA. This house did not just got expensive recent with the bubble. If you look at past sales history, it was sold for $325k in 1986. Here’s a frame of reference, in 1987, this house in La Jolla was sold for $335k. They’re asking for $1,578,000 to $1,650,000 right now. As you can see, it’s priced very similar to this La Jolla house from as far back as 1986 up to recently, before the massive REO price cut. Do you get my point?

[an]

TG, I agree that some people wouldn’t even consider that place even if it’s asking for $200k. But I don’t think it’s any more of a poster child of this bubble than most other places in CA. This house did not just got expensive recent with the bubble. If you look at past sales history, it was sold for $325k in 1986. Here’s a frame of reference, in 1987, this house in La Jolla was sold for $335k. They’re asking for $1,578,000 to $1,650,000 right now. As you can see, it’s priced very similar to this La Jolla house from as far back as 1986 up to recently, before the massive REO price cut. Do you get my point?

[Author]

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