Latest Propert Ladder house still on market

[IONEGARM]

http://www.ziprealty.com/buy_a_home/logged_in/search/home_detail.jsp?listing_num=P514847&page=1&property_type=SFR&mls=mls_so_cal&cKey=q75l250g&source=SOCALMLS

2158 CHESTNUT AVENUE, Long Beach, CA 90806
MLS: P514847
100 DOM
Price Reduced: 06/13/06 — $795,000 to $695,000
Price Reduced: 08/07/06 — $695,000 to $690,000

[barnaby33]

As a public service for today and because I had an El Cap crossing, I will make you a link.
Some article posted by IONEGARM
Josh

[technovelist]

That was an amazing show last night. I thought I’d seen everything, but that “flipper” was really special. Her contractor should get a medal for not braining her.

[CardiffBaseball]

Yes but that $5000 decrease will finally get bodies through the door.

[sdappraiser]

Here is last weeks Property Ladder which was located in Chula Vista.

MLS #0680552110

Interesting thing about this is it was completed by more ‘professional’ types. According to the show the original purchase price was $455k, which I assume includes some financing costs as public records shows the price as $445k.

This was listed for 60 days, expired, refreshed for 54 days and finally went pending 2 weeks ago. The professional ‘realtor’ on the show recommended a price of 595k. Original list price was actually $649k. Current price shows $549,000-599,000.

One more interesting item, on the show they said they put about $50k into it. The first expired listing states over $80k of upgrades. The current listing states over $110k of upgrades. Hard to figure out the profit/loss on this without knowing the TRUE cost of upgrades and whether or not they are padding this figure to make it look more exceptional.

Will be interesting to see what this actually sells for. My calculations with 6 months of holding costs indicate $8,500 profit with 50k upgrades and 550k selling price.

[Author]

Posts