Mira Mesa house went into pending, should I close?

[an]

Holly cow, this one just went pending after just 8 days on the market. Look at its condition and its price!!!

[sdrealtor]

All original and owned free and clear.

[Wah-Wah]

[quote=AN]Holly cow, this one just went pending after just 8 days on the market. Look at its condition and its price!!![/quote]

summer heat… someone had severe heat stroke.
🙂

[an]

[quote=AN][quote=sdrealtor]My prediction was a list price of $350K and selling in 30 days or less. It is actually priced at $394,000 and depending upon how greedy they are it could take a little longer to sell.[/quote]
My prediction is they’ll get their asking price of $394k w/in 30 days.[/quote]
It’s now pending. That’s 6 days from hitting the market and going pending. Now, the question is, what would the closing price be? Going pending after 6 days, it has a good chance it’ll close at asking price. Going pending for full asking price after 6 days is normal, right? It can’t possibly be the area is “on fire”?

[sdrealtor]

When this house sold for $270K the market for it was about $350K fixed up. I dont know if it will go to $394K but it should go about 10% above the $350K of just 2 months ago.

[an]

[quote=sdrealtor]When this house sold for $270K the market for it was about $350K fixed up. I dont know if it will go to $394K but it should go about 10% above the $350K of just 2 months ago.[/quote]
I don’t think the market was $350k. I pointed out this property: http://www.zillow.com/homedetails/8147-Gold-Coast-Dr-San-Diego-CA-92126/16831631_zpid/. Sold in early April (went in contract in March). The closing price was $399k. Bennington area is slightly worse, so I would give it $10k-$20k less. Not, $50k. I might be wrong, but I don’t think I’ve seen a flip that sell for $350k in the last 3-4 months if not the last year.

[sdrealtor]

You could be right on that one. I am probably just a bit too bearish on pricing LOL.

I figured the value of a flip around $380K for a nicer area and around $350K for that area. Whatever it was, its higher now than it was a couple months ago.

[sdrealtor]

It just closed for $392,000 on 7/3/2012. It was on the market all of 3 days. PokePud walked away from close to a $100,000 flipper profit. The LETDLITA were proven incorrect as to the value of interior walls. It all went down exactly as I said it would. The only thing I underestimated was the greed of the flipper and how high it could go. AN hit that part on the mark.

[an]

[quote=sdrealtor]It just closed for $392,000 on 7/3/2012. It was on the market all of 3 days. PokePud walked away from close to a $100,000 flipper profit. The LETDLITA were proven incorrect as to the value of interior walls. It all went down exactly as I said it would. The only thing I underestimated was the greed of the flipper and how high it could go. AN hit that part on the mark.[/quote]
Damn, I was off by $2k. 🙂 I agree, PokePud walked away from a killer opportunity. I wish I was in a position to take advantage of that. Making a 20-30% profit w/in a few months is more than I can ask for.

[Author]

Posts