I got my Clairemont home finally, and for $301k

[detourbeach]

Thanks all for the advice so far. My homework finally paid off and I picked up a great move-in ready 3bd/2ba foreclosure for $301k (listed at $299,999) in Clairemont.

The house was listed by an agent in OC so it wasn’t in the SD MLS system. Luckily, I saw it on redfin the first day it was on the market so I got the first offer in to the bank, 1k above list price and they took it!

[barnaby33]

Congrats detour. May you enjoy your new home. Its unfortunate for me that you did because a very real part of my thesis is that when 3/2 in Clairemont are going for 275, we’re pretty close to the bottom. I may have to get off my ass and shop for a home sooner than I’d thought.

On second thought, naw. The job losses haven’t even really picked up steam.

Josh

[barnaby33]

Congrats detour. May you enjoy your new home. Its unfortunate for me that you did because a very real part of my thesis is that when 3/2 in Clairemont are going for 275, we’re pretty close to the bottom. I may have to get off my ass and shop for a home sooner than I’d thought.

On second thought, naw. The job losses haven’t even really picked up steam.

Josh

[barnaby33]

Congrats detour. May you enjoy your new home. Its unfortunate for me that you did because a very real part of my thesis is that when 3/2 in Clairemont are going for 275, we’re pretty close to the bottom. I may have to get off my ass and shop for a home sooner than I’d thought.

On second thought, naw. The job losses haven’t even really picked up steam.

Josh

[barnaby33]

Congrats detour. May you enjoy your new home. Its unfortunate for me that you did because a very real part of my thesis is that when 3/2 in Clairemont are going for 275, we’re pretty close to the bottom. I may have to get off my ass and shop for a home sooner than I’d thought.

On second thought, naw. The job losses haven’t even really picked up steam.

Josh

[barnaby33]

Congrats detour. May you enjoy your new home. Its unfortunate for me that you did because a very real part of my thesis is that when 3/2 in Clairemont are going for 275, we’re pretty close to the bottom. I may have to get off my ass and shop for a home sooner than I’d thought.

On second thought, naw. The job losses haven’t even really picked up steam.

Josh

[detourbeach]

My thesis also puts bottom prices near $275k. Mine is based on rental prices. The average 3bd/2ba in Clairemont rents for $2000/month. I believe that when when housing prices near $275k, and the 30yr fixed payment + taxes nears $2000, people like myself will be purchasing houses just to rent them out because they are operating at a break even point.

Myself, I’m going to do some quick upgrades and put the house back on the market @ $360k and see what happens! There will be alot more homes selling for $300k this year.

[detourbeach]

My thesis also puts bottom prices near $275k. Mine is based on rental prices. The average 3bd/2ba in Clairemont rents for $2000/month. I believe that when when housing prices near $275k, and the 30yr fixed payment + taxes nears $2000, people like myself will be purchasing houses just to rent them out because they are operating at a break even point.

Myself, I’m going to do some quick upgrades and put the house back on the market @ $360k and see what happens! There will be alot more homes selling for $300k this year.

[detourbeach]

My thesis also puts bottom prices near $275k. Mine is based on rental prices. The average 3bd/2ba in Clairemont rents for $2000/month. I believe that when when housing prices near $275k, and the 30yr fixed payment + taxes nears $2000, people like myself will be purchasing houses just to rent them out because they are operating at a break even point.

Myself, I’m going to do some quick upgrades and put the house back on the market @ $360k and see what happens! There will be alot more homes selling for $300k this year.

[detourbeach]

My thesis also puts bottom prices near $275k. Mine is based on rental prices. The average 3bd/2ba in Clairemont rents for $2000/month. I believe that when when housing prices near $275k, and the 30yr fixed payment + taxes nears $2000, people like myself will be purchasing houses just to rent them out because they are operating at a break even point.

Myself, I’m going to do some quick upgrades and put the house back on the market @ $360k and see what happens! There will be alot more homes selling for $300k this year.

[detourbeach]

My thesis also puts bottom prices near $275k. Mine is based on rental prices. The average 3bd/2ba in Clairemont rents for $2000/month. I believe that when when housing prices near $275k, and the 30yr fixed payment + taxes nears $2000, people like myself will be purchasing houses just to rent them out because they are operating at a break even point.

Myself, I’m going to do some quick upgrades and put the house back on the market @ $360k and see what happens! There will be alot more homes selling for $300k this year.

[4plexowner]

I’m expecting a bottom of $275K in Clairemont but I think that will be for the 3/1, 1000 SQFT with 1 car garage that hasn’t been updated since built – your basic rental house in that area

A 3/2 in move-in shape, depending on area of Clairemont, is worth more than $301K in today’s market IMO

detourbeach was doing his research and due diligence and it paid off in a good deal

excellent example of knowing the market you are interested in – if you don’t recognize an exceptional deal the first day it comes on the market you won’t be the one closing escrow

good job detourbeach

[4plexowner]

I’m expecting a bottom of $275K in Clairemont but I think that will be for the 3/1, 1000 SQFT with 1 car garage that hasn’t been updated since built – your basic rental house in that area

A 3/2 in move-in shape, depending on area of Clairemont, is worth more than $301K in today’s market IMO

detourbeach was doing his research and due diligence and it paid off in a good deal

excellent example of knowing the market you are interested in – if you don’t recognize an exceptional deal the first day it comes on the market you won’t be the one closing escrow

good job detourbeach

[4plexowner]

I’m expecting a bottom of $275K in Clairemont but I think that will be for the 3/1, 1000 SQFT with 1 car garage that hasn’t been updated since built – your basic rental house in that area

A 3/2 in move-in shape, depending on area of Clairemont, is worth more than $301K in today’s market IMO

detourbeach was doing his research and due diligence and it paid off in a good deal

excellent example of knowing the market you are interested in – if you don’t recognize an exceptional deal the first day it comes on the market you won’t be the one closing escrow

good job detourbeach

[4plexowner]

I’m expecting a bottom of $275K in Clairemont but I think that will be for the 3/1, 1000 SQFT with 1 car garage that hasn’t been updated since built – your basic rental house in that area

A 3/2 in move-in shape, depending on area of Clairemont, is worth more than $301K in today’s market IMO

detourbeach was doing his research and due diligence and it paid off in a good deal

excellent example of knowing the market you are interested in – if you don’t recognize an exceptional deal the first day it comes on the market you won’t be the one closing escrow

good job detourbeach

[Author]

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