This flipper bought the house on 10/30/06 for $935K. The same house on the same street sold for $893K on 1/30/07. That is 4.5% price drop in 3 months. Now, the greedy flipper wants 215K or 23% profit. This flipper is not fooling the buyers, but he is only fooling himself:
Happy Renter I misspelled Bulrush but look at this link from June of 2006. House look familiar? At that time I was able to figure out the house had been on the market for a year (using Google Cache).
I can’t believe someone bought in Oct. 2006 at $939 and expects to unload at a price where the home sat on the market a long time. Check Google Cache for 2068 Bulrush and note how long she tried selling that house, and came down a long way.
Then again one born every minute. The worst thing about this place is two huge Torrey Pine trees in the neighbor to the south’s yard, block a great view.
I know most houses on that side of street have very good ocean view, but also very loud freeway noise. This house has freeway noise, but NO nice view. No wonder it’s so hard to sell.
I bought my 1st house in 1993 and that house was pre-foreclosed. Back then, homeowners cut prices a lot and very quick to avoid being foreclosed since most had 20% down plus good credit to buy houses. During this housing bubble, flippers & buyers bought houses with zero down and bad credits. So, they are not willing to cut prices. Some even ask for 20% more from the peak since they have NO money or No credit to lose. They enjoy free rents, kick back, relax and wait for lenders to foreclose. Also, most of them think they are genius since they flipped houses for insane huge profits.
I feel the quality of homeownership has been highly deteriorated by this housing bubble and corrupted lending system. Eventually, we as good honest citizens have to share the loss of the crash!
This flipper bought the house on 10/30/06 for $935K. The same house on the same street sold for $893K on 1/30/07. That is 4.5% price drop in 3 months. Now, the greedy flipper wants 215K or 23% profit. This flipper is not fooling the buyers, but he is only fooling himself:
Defies any reasonable common sense. Blows me away either the greed or ignorance that man possesses. Hopefully this person learns a tough lesson, and many others hear about it.
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