Hurtin’ for Certain in Coronado

[lostkitty]

Sales:

1052 ISABELLA AVE 2/1 900sqft 01/20/06 0.44 $910,000 $1011

1052 ISABELLA AVE 2/1 900sqft 05/18/06 0.44 $679,000 $754

[Anonymous]

Wow! What a drop!

Hey, dz, this is what happens when you kick us ‘trailer trash’ out of your fancy neighborhoods!

[barnaby33]

Then there is alot more kicking that needs to be done. That is an impressive drop. Ouch, thats going to leave a mark!

Josh

[LookoutBelow]

THATS what Im talkin about !

Let the race to the bottom begin ! (900 sq ft? LOL…still too high)

The sillyness is officially OVER 

 

[lostkitty]

Realistically though.. even at 679k… I think that is still WAY too much money to pay for a converted 900 sqft apt with no parking (it is mostly metered out front).

[PD]

I went to an open house in Coronado last weekend. The realtor was trying to tell me that it is a great time to buy because inventory is huge. He showed me a list that he had sitting on the counter next to the house flyers. I was impressed all right, but not in the way he intended!

He told me that the seller was, “Very motivated.” I don’t doubt it! The inside needed major updating. The bathrooms had not been touched since it was built (82), the kitchen was okay but had a musty smell (major red flag!), There was an ugly 8×8 tile in most of the house that was only saved by the fact that it was a solid color (I was not impressed that it was supposed to have come all the way from Europe), popcorn ceilings and it is very, very ugly from the street. I commented on how ugly the house was and the realtor tried to tell me that all it needed was a good power washing. Power washing is not going wash off the ugly, I’m afraid. I think that poor house is one of the ugliest houses in pretty Coronado.

It did have some good points. The space was very usable, it was a 3/2, it had a nice size patio area in the front and in the back between the main house and garage and the garage was ally entrance. Lot size was 3,500.

All this for an asking price of 1,250,000. I am sure they are going to have to chop a lot off in order to sell it. There was another house only two or three down that had just cut their price to 1,085,000. I have not been inside that one.

[PD]

I just looked up the house on realtor.com. It is listed at 2,275,000. There are a number of pictures but no picture of the front of the house! Smart realtor!

They are playing up the custom European tile, too. Ugh!

[North County Jim]

As much as I’d like to believe it, there’s got to be more to this than meets the eye. Why don’t we look a little deeper into this?

Okay, here goes.

The $910k transaction was on Unit E, which county records indicate is 1,071 sq ft. This transaction closed on 2/17/06.

There were two transactions for $679k. Unit B and Unit D, both of which closed in June. These are both 900 sq ft.

I’ll assume Unit E is a two bedroom while B & D are one bedroom units.

Since we’re in a coastal community, we also have the wild card of views.

While we’re at it, Unit A (1,071 sq ft) sold last October for $999k.

[lostkitty]

I took this info exactly as posted on ziprealty. So you could be right, although zip says specifically that the sq footage is the same. They may be the same, but one with an ocean view? This would be a looooong crooked view, over the metered parking island in the middle of the street, and down another block and over Ocean Blvd.

I tried to verify at zillow, but there is still no record of sales (even though one was back in Jan). Regardless, the building is butt ugly! I had been watching these units languish for months. Heck, there is probably still one there on ziprealty trying to get sold. I’ll go check….

[lostkitty]

Yes, there is still one on the market. A 3br Unit ‘A’.

Price Reduced: 05/18/06 — $1,025,000 to $999,000
Price Reduced: 06/01/06 — $999,000 to $900,000
Price Reduced: 07/14/06 — $900,000 to $850,000
Price Increased: 09/19/06 — $850,000 to $855,000

I think my numbers above may be accurate for same-sized 2br units. Could one of the realtors on here do a check…?Gotta run…. no more time for Piggington today.

[blahblahblah]

“Power washing is not going to wash off the ugly…”

Best quote in a long time — that one made my day!!!

[PerryChase]

Ha,ha, I had a good laugh also. LOL.

[sdrealtor]

Per the mls the 910K sale was 3Br/2BA, 1200 sq ft with an ocean view while the 679K sale was a 2BR/1BA, 999 sq ft with no view.

[sdrealtor]

Here’s the punchline…..
The one Hello Kitty mentioned on the market is not from the developer. Its a resale and a short sale at that! Buyer put 5% down and paid $999K in 10/05. Its on the market for $855K subject to lender approval.

[Author]

Posts