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  • January 6, 2009 at 3:15 PM #325611
    SD Realtor
    Participant

    I have been inside the home recently. Actually the home is pretty much a shell. JP you are correct nobody would finance the home.

    Currently they have 25 offers that have been submitted to the lender. I could not get the LA to divulge what the highest is. Yesterday was the “official” deadline to submit offers but she said if you write one up and send it today along with an addendum saying this is your highest and best they will send it in but with no gaurantee that it will be looked at.

    They are only accepting cash offers.

    January 6, 2009 at 6:14 PM #325179
    jpinpb
    Participant

    Thanks for the info SDR. Looks like a bidding war going on. We’re not at bottom yet.

    January 6, 2009 at 6:14 PM #325512
    jpinpb
    Participant

    Thanks for the info SDR. Looks like a bidding war going on. We’re not at bottom yet.

    January 6, 2009 at 6:14 PM #325582
    jpinpb
    Participant

    Thanks for the info SDR. Looks like a bidding war going on. We’re not at bottom yet.

    January 6, 2009 at 6:14 PM #325599
    jpinpb
    Participant

    Thanks for the info SDR. Looks like a bidding war going on. We’re not at bottom yet.

    January 6, 2009 at 6:14 PM #325681
    jpinpb
    Participant

    Thanks for the info SDR. Looks like a bidding war going on. We’re not at bottom yet.

    January 6, 2009 at 6:21 PM #325184
    waterboy
    Participant

    It is crazy how much action the Chelsea property is getting. Each time I run or walk by there are multiple people looking at it….maybe I saw you SDR! If it goes above $800k then I think they will be catching a knife. At $600k I think I would take it.

    A well experienced contractor or investor might be able to just work with existing shell, min permits, and put some nice lipstick back on it for under $50k then turn it around and sell for $1M-1.1M. Or put $300k into it and build up and out but not sure if that risk is worth it as you have those condos right behind looking down on you.

    Did anyone see the lot on Linda Rosa that had the foundation and some framing? I heard it is under contract for $650k all cash. Has approved plans to build 4bd 3.5ba 2car garage 2100sq ft home. Much better deal as it has great ocean views and a little more private than Chelsea. Downside is no back yard, just room to fence in front.

    January 6, 2009 at 6:21 PM #325517
    waterboy
    Participant

    It is crazy how much action the Chelsea property is getting. Each time I run or walk by there are multiple people looking at it….maybe I saw you SDR! If it goes above $800k then I think they will be catching a knife. At $600k I think I would take it.

    A well experienced contractor or investor might be able to just work with existing shell, min permits, and put some nice lipstick back on it for under $50k then turn it around and sell for $1M-1.1M. Or put $300k into it and build up and out but not sure if that risk is worth it as you have those condos right behind looking down on you.

    Did anyone see the lot on Linda Rosa that had the foundation and some framing? I heard it is under contract for $650k all cash. Has approved plans to build 4bd 3.5ba 2car garage 2100sq ft home. Much better deal as it has great ocean views and a little more private than Chelsea. Downside is no back yard, just room to fence in front.

    January 6, 2009 at 6:21 PM #325587
    waterboy
    Participant

    It is crazy how much action the Chelsea property is getting. Each time I run or walk by there are multiple people looking at it….maybe I saw you SDR! If it goes above $800k then I think they will be catching a knife. At $600k I think I would take it.

    A well experienced contractor or investor might be able to just work with existing shell, min permits, and put some nice lipstick back on it for under $50k then turn it around and sell for $1M-1.1M. Or put $300k into it and build up and out but not sure if that risk is worth it as you have those condos right behind looking down on you.

    Did anyone see the lot on Linda Rosa that had the foundation and some framing? I heard it is under contract for $650k all cash. Has approved plans to build 4bd 3.5ba 2car garage 2100sq ft home. Much better deal as it has great ocean views and a little more private than Chelsea. Downside is no back yard, just room to fence in front.

    January 6, 2009 at 6:21 PM #325604
    waterboy
    Participant

    It is crazy how much action the Chelsea property is getting. Each time I run or walk by there are multiple people looking at it….maybe I saw you SDR! If it goes above $800k then I think they will be catching a knife. At $600k I think I would take it.

    A well experienced contractor or investor might be able to just work with existing shell, min permits, and put some nice lipstick back on it for under $50k then turn it around and sell for $1M-1.1M. Or put $300k into it and build up and out but not sure if that risk is worth it as you have those condos right behind looking down on you.

    Did anyone see the lot on Linda Rosa that had the foundation and some framing? I heard it is under contract for $650k all cash. Has approved plans to build 4bd 3.5ba 2car garage 2100sq ft home. Much better deal as it has great ocean views and a little more private than Chelsea. Downside is no back yard, just room to fence in front.

    January 6, 2009 at 6:21 PM #325686
    waterboy
    Participant

    It is crazy how much action the Chelsea property is getting. Each time I run or walk by there are multiple people looking at it….maybe I saw you SDR! If it goes above $800k then I think they will be catching a knife. At $600k I think I would take it.

    A well experienced contractor or investor might be able to just work with existing shell, min permits, and put some nice lipstick back on it for under $50k then turn it around and sell for $1M-1.1M. Or put $300k into it and build up and out but not sure if that risk is worth it as you have those condos right behind looking down on you.

    Did anyone see the lot on Linda Rosa that had the foundation and some framing? I heard it is under contract for $650k all cash. Has approved plans to build 4bd 3.5ba 2car garage 2100sq ft home. Much better deal as it has great ocean views and a little more private than Chelsea. Downside is no back yard, just room to fence in front.

    January 6, 2009 at 9:05 PM #325252
    LarryTheRenter
    Participant

    Property on Marine st..

    This one sold for 1.9 million at the peak…now going for 1.367 mil. Teardown of course, but close to marine st.beach… any ideas????

    http://www.sdlookup.com/MLS-086032890-419_Marine_St_La_Jolla_Ca_92037

    January 6, 2009 at 9:05 PM #325588
    LarryTheRenter
    Participant

    Property on Marine st..

    This one sold for 1.9 million at the peak…now going for 1.367 mil. Teardown of course, but close to marine st.beach… any ideas????

    http://www.sdlookup.com/MLS-086032890-419_Marine_St_La_Jolla_Ca_92037

    January 6, 2009 at 9:05 PM #325658
    LarryTheRenter
    Participant

    Property on Marine st..

    This one sold for 1.9 million at the peak…now going for 1.367 mil. Teardown of course, but close to marine st.beach… any ideas????

    http://www.sdlookup.com/MLS-086032890-419_Marine_St_La_Jolla_Ca_92037

    January 6, 2009 at 9:05 PM #325674
    LarryTheRenter
    Participant

    Property on Marine st..

    This one sold for 1.9 million at the peak…now going for 1.367 mil. Teardown of course, but close to marine st.beach… any ideas????

    http://www.sdlookup.com/MLS-086032890-419_Marine_St_La_Jolla_Ca_92037

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