Mira Mesa on fire-prices have started increasing

[spdrun]

I can’t imagine that mesothelioma would be much fun. Though I suppose there may be better treatments for it 20-30 years from now.

However, having lived in a building that had asbestos abatement done when the roof was replaces, I may have had my fair share of exposure already, who knows.

[an]

I wouldn’t do it by myself if it has abestos. But if it doesn’t, then if you want to save some dough and have the desire to, you can.

[CA renter]

[quote=flu]Bump….

Lol…

http://www.sdlookup.com/MLS-130007958-8761_Menkar_Rd_San_Diego_CA_92126

Purchased. 12/10/2012 $395,000

Asking price 2 months later 529,000 to $549,000

Have we returned back to 2004/5 where we have to start writing letters to seller explain what a nice family we are yet?[/quote]

Sappy letters to sellers return in tight supply market
News, Rancho Bernardo
Jan 252013

One of the most ridiculous features of the housing bubble rally was when buyers would write emotional letters to sellers to try to make their offers stand out in the crowd. In 2004 in particular as the Option ARM permitted buyers to raise their bids to ridiculous levels, competing bids well over asking price prompted sappy letters to appeal to a seller’s emotions to get the deal. Now, with the federal reserve lowering interest rates below 3.5%, we face a similar infusion of affordability allowing buyers to raise their bids. The tight supply engineered by the banking cartel is causing the buyers to bid over ask again as they compete for the few properties available. The return of the ass-kissing letter is another sign of the success the cartel is having in reflating the housing bubble.

http://sdhousingnews.com/san-diego/rancho-bernardo/sappy-letters-to-sellers-return-in-tight-supply-market

[spdrun]

Why would a seller give a flying spaghetti frig about some sappy letter? It’s a commercial transaction. The purpose is to obtain cash. The firstest with the mostest wins this game.

The people writing the letters should save their time.

[UCGal]

[quote=AN]That house is a flip. There plenty around here like that lately. Here’s another one: http://www.sdlookup.com/MLS-130008108-8559_Hebrides_Dr_San_Diego_CA_92126%5B/quote%5D
AN is correct.

Flu’s original link
http://www.sdlookup.com/MLS-130007958-8761_Menkar_Rd_San_Diego_CA_92126

And the “listing” from the previous short sale.
http://www.sdlookup.com/Pictures-120053704
(which was just a street view picture.)

Between the short sale picture (which may not have been current) and current listing they’ve landscaped and painted the house. Can’t tell if it’s new roof – probably not.
The interior pictures show lots of cosmetic niceties… that seem unlikely from the dead yard street view from the previous listing… but you never know.

From AN’s listing – they did some cosmetic work and landscaping… Might not have a huge amount of profit.
Here’s the previous listing.
http://www.sdlookup.com/MLS-120011013-8559_Hebrides_Dr_San_Diego_CA_92126

Flipping is definitely back in force. A friend is interested in a house in Bay Park. He was disappointed to see that it had short-sold in December for $160k less than current ask.

And what I initially thought was flip added value (nice kitchen) turned out to have been in the old listing.
(not mira mesa – but here are the links:
before: http://www.sdlookup.com/MLS-120039719-1302_Elevation_Rd_San_Diego_CA_92110
after: http://www.sdlookup.com/MLS-130007494-1302_Elevation_Rd_San_Diego_CA_92110
To my eye the only thing they did was tiled over the wood floors and did some landscaping. )

[earlyretirement]

[quote=spdrun]Why would a seller give a flying spaghetti frig about some sappy letter? It’s a commercial transaction. The purpose is to obtain cash. The firstest with the mostest wins this game.

The people writing the letters should save their time.[/quote]

I totally agree. Maybe a VERY few times it might work if a few people are offering the same amount and the seller has a strong emotional attachment to their place and it’s either paid off or the amounts are all the same. I’ve heard of a few cases where someone thought their letter helped. (But who knows if it actually worked).

I’ve written letters before but not sappy letters. They were to the point letters where I offered to buy their place, was able to pay cash, offer a quick close and they could avoid realtor’s fees. I also agreed to reimburse them for any legal fees if they wanted to consult with their lawyer. Sometimes I agreed to pay for a professional mover to move their stuff out after the closing.

I once slid a letter under every single condo in a building. I wanted to try to buy the entire building and convert it to a hotel. The letter helped me buy 9 out of the 50 units but none of the others wanted to sell. Letters can work but not those sappy type letters.

I’ve purchased dozens of properties with those “to the point” type letters. They can and do work.

[an]

[quote=UCGal]
(not mira mesa – but here are the links:
before: http://www.sdlookup.com/MLS-120039719-1302_Elevation_Rd_San_Diego_CA_92110
after: http://www.sdlookup.com/MLS-130007494-1302_Elevation_Rd_San_Diego_CA_92110
To my eye the only thing they did was tiled over the wood floors and did some landscaping. )[/quote]
I see also new windows (not cheap), paint, bathrooms (assuming, since there’s no pix of bathroom from the before), probably patio sliding doors, interior doors, new light switches and outlets. My guess, they probably put in $30k? So that would be a pretty nice profit if they get their asking price.

[an]

Here’s another flip. http://www.sdlookup.com/MLS-130000375-7988_Lakeport_Rd_San_Diego_CA_92126

$135k-expenses in profit. Not too shabby for 2-3 months. This is why I believe the bigger the pot you have, the more opportunity you have to many a lot more money without the need to leverage.

[UCGal]

[quote=AN][quote=UCGal]
(not mira mesa – but here are the links:
before: http://www.sdlookup.com/MLS-120039719-1302_Elevation_Rd_San_Diego_CA_92110
after: http://www.sdlookup.com/MLS-130007494-1302_Elevation_Rd_San_Diego_CA_92110
To my eye the only thing they did was tiled over the wood floors and did some landscaping. )[/quote]
I see also new windows (not cheap), paint, bathrooms (assuming, since there’s no pix of bathroom from the before), probably patio sliding doors, interior doors, new light switches and outlets. My guess, they probably put in $30k? So that would be a pretty nice profit if they get their asking price.[/quote]
You may be right about the windows. I also notice it’s got new garage doors. (the new ones have lights in them.)

I think the flipper will get his price – my friend is the 2nd offer…

[CA renter]

[quote=AN][quote=UCGal]
(not mira mesa – but here are the links:
before: http://www.sdlookup.com/MLS-120039719-1302_Elevation_Rd_San_Diego_CA_92110
after: http://www.sdlookup.com/MLS-130007494-1302_Elevation_Rd_San_Diego_CA_92110
To my eye the only thing they did was tiled over the wood floors and did some landscaping. )[/quote]
I see also new windows (not cheap), paint, bathrooms (assuming, since there’s no pix of bathroom from the before), probably patio sliding doors, interior doors, new light switches and outlets. My guess, they probably put in $30k? So that would be a pretty nice profit if they get their asking price.[/quote]

New kitchen countertops and full backsplash, too. Not sure why, since the original countertops were quartz (or some similar solid surface). This is what bugs me about flippers — they often ruin what others would prefer like wood floors or the original countertops which didn’t need to be replaced, but they often leave out (or even worse, cover up problems with) the important items like new electrical or plumbing systems.

[(former)FormerSanDiegan]

[quote=spdrun]Why would a seller give a flying spaghetti frig about some sappy letter? It’s a commercial transaction. The purpose is to obtain cash. The firstest with the mostest wins this game.

The people writing the letters should save their time.[/quote]

Logic would agree with you.

However, there are a large chunk of buyers and sellers who rely more on emotion than logic in home price transactions.

Consider the family who is being transferred and selling their house where little johnny learned to walk, with pencil marks on the door frame marking his height each birthday. These people will react differently to these letters than say a rental property owner who is selling.

[Author]

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