Flippers Still Active in Chula Vista?

[Jim Jones]

Just came by this listing today, which is pretty interesting. Looks like the property was purchased on Feb 26, 2008 for $340,000 and is being relisted for $360,000. Here is the link.

http://www.redfin.com/stingray/do/printable-listing?listing-id=1500625

Are flippers still active in Chula Vista?

1. How did the owner get this house for $340k? This is way below the selling price of comps. in the area.

2. This house is 600-800 square feet larger then any of the houses listed in that price range in the area. I know from watching this area closely that prices are down about 100k in the 91915 ZIP over the last 8 months or so but this one is priced very aggressivly compared to the rest of the homes on the market and is going set a market precident when it does. Any comments?

3. Any commments about pricing on the mid range SFR homes in the 91915, 91914 areas of Chula Vista? I have been comparing them to similar properties in Mira Mesa but am looking for other areas which might be compareable when looking at quality of neighbourhood/schools/drive to downtown ect.

4. Any estimates on where you think an average 1300-1500 sq/ft SFR will settle at when this area bottoms out?

Last observation as a “PROUD” renter in the 91915 zip I can say that even at $300k the buy vs. rent still does not pencil out when you look at the PITI plus HOA and Mello Roos in the area. I nice 3br 1400sq/ft SFR rental can be had here for under $2000 a month. Renting with no regrets down here.

[recordsclerk]

I think the $340K was the amount the bank paid when it took over the property. This is a bank owned forclosure. This is not a flip job.

[recordsclerk]

BTW that is a nice house for the price.

[meadandale]

@recordsclerk

Nice house?

The kitchen is tiny. The lot is barely larger than the house. Probably 2500 sq ft.

These houses would be a nice house for the price at about $225k.

[recordsclerk]

You can’t fit a 2000sqft home on a 2500sqft lot. More like 4000+. I would have to agree with you about the $225k price. Kitchens for 2000sqft homes all usually small L-shaped kitchens. Rarely do you find one with an island or grand appearance, that’s why I prefer larger homes 3500sqft and larger.

[ocean]

I looked at some new condos @ the summit a few weeks ago.Although they have some pretty interesting floor plans up there,the hoa and mello roos are very high.The builder has a long way to go if they ever sell the place out,and is passing along huge hoa fees to the poor slubs who buy up there now.I sold in ocean view hills in 04.The hoa and mello roos are very low…..check it out!

[ocean]

I looked at some new condos @ the summit a few weeks ago.Although they have some pretty interesting floor plans up there,the hoa and mello roos are very high.The builder has a long way to go if they ever sell the place out,and is passing along huge hoa fees to the poor slubs who buy up there now.I sold in ocean view hills in 04.The hoa and mello roos are very low…..check it out!

[ocean]

I looked at some new condos @ the summit a few weeks ago.Although they have some pretty interesting floor plans up there,the hoa and mello roos are very high.The builder has a long way to go if they ever sell the place out,and is passing along huge hoa fees to the poor slubs who buy up there now.I sold in ocean view hills in 04.The hoa and mello roos are very low…..check it out!

[ocean]

I looked at some new condos @ the summit a few weeks ago.Although they have some pretty interesting floor plans up there,the hoa and mello roos are very high.The builder has a long way to go if they ever sell the place out,and is passing along huge hoa fees to the poor slubs who buy up there now.I sold in ocean view hills in 04.The hoa and mello roos are very low…..check it out!

[ocean]

I looked at some new condos @ the summit a few weeks ago.Although they have some pretty interesting floor plans up there,the hoa and mello roos are very high.The builder has a long way to go if they ever sell the place out,and is passing along huge hoa fees to the poor slubs who buy up there now.I sold in ocean view hills in 04.The hoa and mello roos are very low…..check it out!

[meadandale]

“You can’t fit a 2000sqft home on a 2500sqft lot. More like 4000+”

You can if it’s 2 stories….and those are. Just look at them on the map. Other than the house, there’s a tiny strip of grass in the back yard that can’t be more than about 400 sq ft.

[recordsclerk]

meadandale,

I going to concede to you about the lot size. I can’t find any concrete evidence on any listings in that area to prove you wrong.

Would $133sqft be a good price point for homes in Chula Vista?
Would a property that sells for 50% off original sales price be a good deal?

[recordsclerk]

meadandale,

I going to concede to you about the lot size. I can’t find any concrete evidence on any listings in that area to prove you wrong.

Would $133sqft be a good price point for homes in Chula Vista?
Would a property that sells for 50% off original sales price be a good deal?

[recordsclerk]

meadandale,

I going to concede to you about the lot size. I can’t find any concrete evidence on any listings in that area to prove you wrong.

Would $133sqft be a good price point for homes in Chula Vista?
Would a property that sells for 50% off original sales price be a good deal?

[recordsclerk]

meadandale,

I going to concede to you about the lot size. I can’t find any concrete evidence on any listings in that area to prove you wrong.

Would $133sqft be a good price point for homes in Chula Vista?
Would a property that sells for 50% off original sales price be a good deal?

[recordsclerk]

meadandale,

I going to concede to you about the lot size. I can’t find any concrete evidence on any listings in that area to prove you wrong.

Would $133sqft be a good price point for homes in Chula Vista?
Would a property that sells for 50% off original sales price be a good deal?

[meadandale]

“You can’t fit a 2000sqft home on a 2500sqft lot. More like 4000+”

You can if it’s 2 stories….and those are. Just look at them on the map. Other than the house, there’s a tiny strip of grass in the back yard that can’t be more than about 400 sq ft.

[meadandale]

“You can’t fit a 2000sqft home on a 2500sqft lot. More like 4000+”

You can if it’s 2 stories….and those are. Just look at them on the map. Other than the house, there’s a tiny strip of grass in the back yard that can’t be more than about 400 sq ft.

[meadandale]

“You can’t fit a 2000sqft home on a 2500sqft lot. More like 4000+”

You can if it’s 2 stories….and those are. Just look at them on the map. Other than the house, there’s a tiny strip of grass in the back yard that can’t be more than about 400 sq ft.

[meadandale]

“You can’t fit a 2000sqft home on a 2500sqft lot. More like 4000+”

You can if it’s 2 stories….and those are. Just look at them on the map. Other than the house, there’s a tiny strip of grass in the back yard that can’t be more than about 400 sq ft.

[recordsclerk]

You can’t fit a 2000sqft home on a 2500sqft lot. More like 4000+. I would have to agree with you about the $225k price. Kitchens for 2000sqft homes all usually small L-shaped kitchens. Rarely do you find one with an island or grand appearance, that’s why I prefer larger homes 3500sqft and larger.

[recordsclerk]

You can’t fit a 2000sqft home on a 2500sqft lot. More like 4000+. I would have to agree with you about the $225k price. Kitchens for 2000sqft homes all usually small L-shaped kitchens. Rarely do you find one with an island or grand appearance, that’s why I prefer larger homes 3500sqft and larger.

[recordsclerk]

You can’t fit a 2000sqft home on a 2500sqft lot. More like 4000+. I would have to agree with you about the $225k price. Kitchens for 2000sqft homes all usually small L-shaped kitchens. Rarely do you find one with an island or grand appearance, that’s why I prefer larger homes 3500sqft and larger.

[recordsclerk]

You can’t fit a 2000sqft home on a 2500sqft lot. More like 4000+. I would have to agree with you about the $225k price. Kitchens for 2000sqft homes all usually small L-shaped kitchens. Rarely do you find one with an island or grand appearance, that’s why I prefer larger homes 3500sqft and larger.

[meadandale]

@recordsclerk

Nice house?

The kitchen is tiny. The lot is barely larger than the house. Probably 2500 sq ft.

These houses would be a nice house for the price at about $225k.

[meadandale]

@recordsclerk

Nice house?

The kitchen is tiny. The lot is barely larger than the house. Probably 2500 sq ft.

These houses would be a nice house for the price at about $225k.

[meadandale]

@recordsclerk

Nice house?

The kitchen is tiny. The lot is barely larger than the house. Probably 2500 sq ft.

These houses would be a nice house for the price at about $225k.

[meadandale]

@recordsclerk

Nice house?

The kitchen is tiny. The lot is barely larger than the house. Probably 2500 sq ft.

These houses would be a nice house for the price at about $225k.

[recordsclerk]

BTW that is a nice house for the price.

[recordsclerk]

BTW that is a nice house for the price.

[recordsclerk]

BTW that is a nice house for the price.

[recordsclerk]

BTW that is a nice house for the price.

[recordsclerk]

I think the $340K was the amount the bank paid when it took over the property. This is a bank owned forclosure. This is not a flip job.

[recordsclerk]

I think the $340K was the amount the bank paid when it took over the property. This is a bank owned forclosure. This is not a flip job.

[recordsclerk]

I think the $340K was the amount the bank paid when it took over the property. This is a bank owned forclosure. This is not a flip job.

[recordsclerk]

I think the $340K was the amount the bank paid when it took over the property. This is a bank owned forclosure. This is not a flip job.

[barnaby33]

20k hardly would be worth flipping once you figure in commissions and taxes. Actually its funny if you take 340k and multiply by 6% you get 20.4 Add that to 340 and you get 360.4. Sounds like the bank is selling for exactly what they tool it back for plus commissions.

Josh

[barnaby33]

20k hardly would be worth flipping once you figure in commissions and taxes. Actually its funny if you take 340k and multiply by 6% you get 20.4 Add that to 340 and you get 360.4. Sounds like the bank is selling for exactly what they tool it back for plus commissions.

Josh

[barnaby33]

20k hardly would be worth flipping once you figure in commissions and taxes. Actually its funny if you take 340k and multiply by 6% you get 20.4 Add that to 340 and you get 360.4. Sounds like the bank is selling for exactly what they tool it back for plus commissions.

Josh

[barnaby33]

20k hardly would be worth flipping once you figure in commissions and taxes. Actually its funny if you take 340k and multiply by 6% you get 20.4 Add that to 340 and you get 360.4. Sounds like the bank is selling for exactly what they tool it back for plus commissions.

Josh

[barnaby33]

20k hardly would be worth flipping once you figure in commissions and taxes. Actually its funny if you take 340k and multiply by 6% you get 20.4 Add that to 340 and you get 360.4. Sounds like the bank is selling for exactly what they tool it back for plus commissions.

Josh

[Eugene]

“The seller has never occupied the property and is exempt from supplying the buyer with a TDS” is jargon for “bank owned”.

Personally I like the pricing. For this house, for example, ITI plus HOA and Mello Roos, minus mortgage deduction comes up to $1850/month.

[Eugene]

“The seller has never occupied the property and is exempt from supplying the buyer with a TDS” is jargon for “bank owned”.

Personally I like the pricing. For this house, for example, ITI plus HOA and Mello Roos, minus mortgage deduction comes up to $1850/month.

[Eugene]

“The seller has never occupied the property and is exempt from supplying the buyer with a TDS” is jargon for “bank owned”.

Personally I like the pricing. For this house, for example, ITI plus HOA and Mello Roos, minus mortgage deduction comes up to $1850/month.

[Eugene]

“The seller has never occupied the property and is exempt from supplying the buyer with a TDS” is jargon for “bank owned”.

Personally I like the pricing. For this house, for example, ITI plus HOA and Mello Roos, minus mortgage deduction comes up to $1850/month.

[Eugene]

“The seller has never occupied the property and is exempt from supplying the buyer with a TDS” is jargon for “bank owned”.

Personally I like the pricing. For this house, for example, ITI plus HOA and Mello Roos, minus mortgage deduction comes up to $1850/month.

[Author]

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