Interesting short sale in Hillcrest…

[djrobsd]

http://www.sdlookup.com/MLS-086005745-3812_Park_Blvd_401_San_Diego_CA_92103

Many of the sellers in this building have been waiting for offers to come in and nothing is happening, in fact the last unit to close was in October of last year.

Even with this reduction, this unit has not seen an offer. It will probably be REO soon, especially since the owner is also in default on their property taxes. According to SDLookup, there is one other unit in the complex that is also a short sale, and at least 2 others that do not say short sale, but after closing costs the sellers will have to bring $ to the table.

Is the $440+ in HOA dues in this building just too much to swallow for most home buyers? Or perhaps, the fact that it’s only a 1 bedroom, people aren’t willing to pay $400k or even $350k for a 1 bedroom unit, no matter how big it is.

Who knows, but it will be interesting to watch and see what happens to this unit… And if anyone buys it, you’ll be my neighbor. 😉 I’m a happy renter in the Egyptian!

[djrobsd]

Oh, by the way, I forgot to mention for $440 HOA there is no pool, hot tub, workout room, or any other amenities, that’s just the cost to insure the building, heat the water, keep the lights in the hallway on, and pay the janitors and maintenance staff to keep everything clean and running efficiently. HOA’s are certainly a racket, and the only winners are the property management companies who run them.

[djrobsd]

Oh, by the way, I forgot to mention for $440 HOA there is no pool, hot tub, workout room, or any other amenities, that’s just the cost to insure the building, heat the water, keep the lights in the hallway on, and pay the janitors and maintenance staff to keep everything clean and running efficiently. HOA’s are certainly a racket, and the only winners are the property management companies who run them.

[djrobsd]

Oh, by the way, I forgot to mention for $440 HOA there is no pool, hot tub, workout room, or any other amenities, that’s just the cost to insure the building, heat the water, keep the lights in the hallway on, and pay the janitors and maintenance staff to keep everything clean and running efficiently. HOA’s are certainly a racket, and the only winners are the property management companies who run them.

[djrobsd]

Oh, by the way, I forgot to mention for $440 HOA there is no pool, hot tub, workout room, or any other amenities, that’s just the cost to insure the building, heat the water, keep the lights in the hallway on, and pay the janitors and maintenance staff to keep everything clean and running efficiently. HOA’s are certainly a racket, and the only winners are the property management companies who run them.

[djrobsd]

Oh, by the way, I forgot to mention for $440 HOA there is no pool, hot tub, workout room, or any other amenities, that’s just the cost to insure the building, heat the water, keep the lights in the hallway on, and pay the janitors and maintenance staff to keep everything clean and running efficiently. HOA’s are certainly a racket, and the only winners are the property management companies who run them.

[barnaby33]

Its got a lot going against it. Its on a busy street corner, lots of noise. It was built and sold at the height of the boom in 04. Its ugly, and the corridors are fairly dimly lit. The Cairo next door seems like a better building, though I have not been inside any of those units.

Do you rent a 1 or 2 bdrm, what do you pay?

Josh

[Ex-SD]

You confused the HOA fee with the PPSF.
The HOA fee is $351 (still too high IMHO)
The PPSF is $444 which is ridiculous.

Wonder why these units haven’t been selling? Duhhhh!

[Ex-SD]

You confused the HOA fee with the PPSF.
The HOA fee is $351 (still too high IMHO)
The PPSF is $444 which is ridiculous.

Wonder why these units haven’t been selling? Duhhhh!

[Ex-SD]

You confused the HOA fee with the PPSF.
The HOA fee is $351 (still too high IMHO)
The PPSF is $444 which is ridiculous.

Wonder why these units haven’t been selling? Duhhhh!

[Ex-SD]

You confused the HOA fee with the PPSF.
The HOA fee is $351 (still too high IMHO)
The PPSF is $444 which is ridiculous.

Wonder why these units haven’t been selling? Duhhhh!

[Ex-SD]

You confused the HOA fee with the PPSF.
The HOA fee is $351 (still too high IMHO)
The PPSF is $444 which is ridiculous.

Wonder why these units haven’t been selling? Duhhhh!

[djrobsd]

I’m renting a 1br, 900sf, it’s currently $1600 a month. I absolutely love living here, the location is central to everything, and I get lots of sunlight. The sunsets are FABULOUS from the west facing units! The units facing the street (Park and University) are the ones that suffer the most. If you face the courtyard, it’s pretty quiet, I think the steel structure of the building really blocks out most of the noise for the inner units. The only thing you can really hear is the sirens from the ambulances and you’re going to hear that no matter where you live in Hillcrest.

The cairo is NOT a better building, it’s wooden construction, not steel, so you are going to hear every noise your neighbors make. I have yet to hear anything from my neighbors, except if they are stomping around above me, but you’re going to get that noise in any multi-story building you live in.

I definately think the prices must come down to rational levels before people will buy in here. How low can they go is a matter of how much burden the current owners can carry until they say enough is enough. If i’m renting a 1br for that price, the selling price would need to be about $225,00 for anyone to break even after property taxes and HOA fees.

[akbarpunjabi]

I know it is off the topic but whatever happened to the condo you owned (djrobsd)? Did the bank rework the loan? Did you get a short sale approved? Did you mail in the keys? Are you renting it out?

[djrobsd]

Haha, I posted a thread on here when I sold it, but I think a lot of people missed it since it was over the weekend. I sold it for $350,000. I had to bring $20,000 to close, and give the buyer the plasma TV on the wall, but I am so glad that it’s all over with and I’m back to being a renter, I have no regrets! I didn’t even go 30 days late, so my credit was not damaged either. 😉 I lucked out, I know, selling a 650 square foot house for $350k, but I obviously did the right upgrades and improvements that made that “emotional” connection with the buyer, he even put in the offer that he wanted to make sure I was leaving the pendant lights in the dining room and the track lighting in the kitchen. 😉

So, lesson learned, and now I’m waiting for the prices to fall down to reasonable levels again before jumping back in… 🙂

[djrobsd]

Haha, I posted a thread on here when I sold it, but I think a lot of people missed it since it was over the weekend. I sold it for $350,000. I had to bring $20,000 to close, and give the buyer the plasma TV on the wall, but I am so glad that it’s all over with and I’m back to being a renter, I have no regrets! I didn’t even go 30 days late, so my credit was not damaged either. 😉 I lucked out, I know, selling a 650 square foot house for $350k, but I obviously did the right upgrades and improvements that made that “emotional” connection with the buyer, he even put in the offer that he wanted to make sure I was leaving the pendant lights in the dining room and the track lighting in the kitchen. 😉

So, lesson learned, and now I’m waiting for the prices to fall down to reasonable levels again before jumping back in… 🙂

[djrobsd]

Haha, I posted a thread on here when I sold it, but I think a lot of people missed it since it was over the weekend. I sold it for $350,000. I had to bring $20,000 to close, and give the buyer the plasma TV on the wall, but I am so glad that it’s all over with and I’m back to being a renter, I have no regrets! I didn’t even go 30 days late, so my credit was not damaged either. 😉 I lucked out, I know, selling a 650 square foot house for $350k, but I obviously did the right upgrades and improvements that made that “emotional” connection with the buyer, he even put in the offer that he wanted to make sure I was leaving the pendant lights in the dining room and the track lighting in the kitchen. 😉

So, lesson learned, and now I’m waiting for the prices to fall down to reasonable levels again before jumping back in… 🙂

[djrobsd]

Haha, I posted a thread on here when I sold it, but I think a lot of people missed it since it was over the weekend. I sold it for $350,000. I had to bring $20,000 to close, and give the buyer the plasma TV on the wall, but I am so glad that it’s all over with and I’m back to being a renter, I have no regrets! I didn’t even go 30 days late, so my credit was not damaged either. 😉 I lucked out, I know, selling a 650 square foot house for $350k, but I obviously did the right upgrades and improvements that made that “emotional” connection with the buyer, he even put in the offer that he wanted to make sure I was leaving the pendant lights in the dining room and the track lighting in the kitchen. 😉

So, lesson learned, and now I’m waiting for the prices to fall down to reasonable levels again before jumping back in… 🙂

[djrobsd]

Haha, I posted a thread on here when I sold it, but I think a lot of people missed it since it was over the weekend. I sold it for $350,000. I had to bring $20,000 to close, and give the buyer the plasma TV on the wall, but I am so glad that it’s all over with and I’m back to being a renter, I have no regrets! I didn’t even go 30 days late, so my credit was not damaged either. 😉 I lucked out, I know, selling a 650 square foot house for $350k, but I obviously did the right upgrades and improvements that made that “emotional” connection with the buyer, he even put in the offer that he wanted to make sure I was leaving the pendant lights in the dining room and the track lighting in the kitchen. 😉

So, lesson learned, and now I’m waiting for the prices to fall down to reasonable levels again before jumping back in… 🙂

[akbarpunjabi]

I know it is off the topic but whatever happened to the condo you owned (djrobsd)? Did the bank rework the loan? Did you get a short sale approved? Did you mail in the keys? Are you renting it out?

[akbarpunjabi]

I know it is off the topic but whatever happened to the condo you owned (djrobsd)? Did the bank rework the loan? Did you get a short sale approved? Did you mail in the keys? Are you renting it out?

[akbarpunjabi]

I know it is off the topic but whatever happened to the condo you owned (djrobsd)? Did the bank rework the loan? Did you get a short sale approved? Did you mail in the keys? Are you renting it out?

[akbarpunjabi]

I know it is off the topic but whatever happened to the condo you owned (djrobsd)? Did the bank rework the loan? Did you get a short sale approved? Did you mail in the keys? Are you renting it out?

[djrobsd]

I’m renting a 1br, 900sf, it’s currently $1600 a month. I absolutely love living here, the location is central to everything, and I get lots of sunlight. The sunsets are FABULOUS from the west facing units! The units facing the street (Park and University) are the ones that suffer the most. If you face the courtyard, it’s pretty quiet, I think the steel structure of the building really blocks out most of the noise for the inner units. The only thing you can really hear is the sirens from the ambulances and you’re going to hear that no matter where you live in Hillcrest.

The cairo is NOT a better building, it’s wooden construction, not steel, so you are going to hear every noise your neighbors make. I have yet to hear anything from my neighbors, except if they are stomping around above me, but you’re going to get that noise in any multi-story building you live in.

I definately think the prices must come down to rational levels before people will buy in here. How low can they go is a matter of how much burden the current owners can carry until they say enough is enough. If i’m renting a 1br for that price, the selling price would need to be about $225,00 for anyone to break even after property taxes and HOA fees.

[djrobsd]

I’m renting a 1br, 900sf, it’s currently $1600 a month. I absolutely love living here, the location is central to everything, and I get lots of sunlight. The sunsets are FABULOUS from the west facing units! The units facing the street (Park and University) are the ones that suffer the most. If you face the courtyard, it’s pretty quiet, I think the steel structure of the building really blocks out most of the noise for the inner units. The only thing you can really hear is the sirens from the ambulances and you’re going to hear that no matter where you live in Hillcrest.

The cairo is NOT a better building, it’s wooden construction, not steel, so you are going to hear every noise your neighbors make. I have yet to hear anything from my neighbors, except if they are stomping around above me, but you’re going to get that noise in any multi-story building you live in.

I definately think the prices must come down to rational levels before people will buy in here. How low can they go is a matter of how much burden the current owners can carry until they say enough is enough. If i’m renting a 1br for that price, the selling price would need to be about $225,00 for anyone to break even after property taxes and HOA fees.

[djrobsd]

I’m renting a 1br, 900sf, it’s currently $1600 a month. I absolutely love living here, the location is central to everything, and I get lots of sunlight. The sunsets are FABULOUS from the west facing units! The units facing the street (Park and University) are the ones that suffer the most. If you face the courtyard, it’s pretty quiet, I think the steel structure of the building really blocks out most of the noise for the inner units. The only thing you can really hear is the sirens from the ambulances and you’re going to hear that no matter where you live in Hillcrest.

The cairo is NOT a better building, it’s wooden construction, not steel, so you are going to hear every noise your neighbors make. I have yet to hear anything from my neighbors, except if they are stomping around above me, but you’re going to get that noise in any multi-story building you live in.

I definately think the prices must come down to rational levels before people will buy in here. How low can they go is a matter of how much burden the current owners can carry until they say enough is enough. If i’m renting a 1br for that price, the selling price would need to be about $225,00 for anyone to break even after property taxes and HOA fees.

[djrobsd]

I’m renting a 1br, 900sf, it’s currently $1600 a month. I absolutely love living here, the location is central to everything, and I get lots of sunlight. The sunsets are FABULOUS from the west facing units! The units facing the street (Park and University) are the ones that suffer the most. If you face the courtyard, it’s pretty quiet, I think the steel structure of the building really blocks out most of the noise for the inner units. The only thing you can really hear is the sirens from the ambulances and you’re going to hear that no matter where you live in Hillcrest.

The cairo is NOT a better building, it’s wooden construction, not steel, so you are going to hear every noise your neighbors make. I have yet to hear anything from my neighbors, except if they are stomping around above me, but you’re going to get that noise in any multi-story building you live in.

I definately think the prices must come down to rational levels before people will buy in here. How low can they go is a matter of how much burden the current owners can carry until they say enough is enough. If i’m renting a 1br for that price, the selling price would need to be about $225,00 for anyone to break even after property taxes and HOA fees.

[barnaby33]

Its got a lot going against it. Its on a busy street corner, lots of noise. It was built and sold at the height of the boom in 04. Its ugly, and the corridors are fairly dimly lit. The Cairo next door seems like a better building, though I have not been inside any of those units.

Do you rent a 1 or 2 bdrm, what do you pay?

Josh

[barnaby33]

Its got a lot going against it. Its on a busy street corner, lots of noise. It was built and sold at the height of the boom in 04. Its ugly, and the corridors are fairly dimly lit. The Cairo next door seems like a better building, though I have not been inside any of those units.

Do you rent a 1 or 2 bdrm, what do you pay?

Josh

[barnaby33]

Its got a lot going against it. Its on a busy street corner, lots of noise. It was built and sold at the height of the boom in 04. Its ugly, and the corridors are fairly dimly lit. The Cairo next door seems like a better building, though I have not been inside any of those units.

Do you rent a 1 or 2 bdrm, what do you pay?

Josh

[barnaby33]

Its got a lot going against it. Its on a busy street corner, lots of noise. It was built and sold at the height of the boom in 04. Its ugly, and the corridors are fairly dimly lit. The Cairo next door seems like a better building, though I have not been inside any of those units.

Do you rent a 1 or 2 bdrm, what do you pay?

Josh

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