Pain in La Jolla

[34f3f3f]

[quote=LarryTheRenter]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
[/quote]

Sorry to barge in on pig’s Realtors again, but I am absolutely floored. I can’t understand even in my wildest dreams why on earth anyone would want to pay so much money for this house. You’re paying a king’s ransom to live in a hut. Someone please enlighten me, because I just don’t get it.

[SD Realtor]

I gave up trying to figure out why people do things a long time ago qwerty.

[SD Realtor]

I gave up trying to figure out why people do things a long time ago qwerty.

[SD Realtor]

I gave up trying to figure out why people do things a long time ago qwerty.

[SD Realtor]

I gave up trying to figure out why people do things a long time ago qwerty.

[SD Realtor]

I gave up trying to figure out why people do things a long time ago qwerty.

[jpinpb]

qwerty – I rode around Chelsea. Great area. But for sure in today’s market, too much.

Seems like anything priced below the normal high peak generates a lot of interest and people start foaming at the mouth and falling over each other to get it as if it will be the last deal out there.

That, to me, is the biggest sign that we are no where near bottom. When I sold my house in Carmel Valley we were beginning the bubble. I did not get multiple offers. It was nice. Not a McMansion, but you still couldn’t buy it today for anything reasonable.

When the frenzy of multiple bids stop, you know you’re at bottom. JMO. That may mean bottom and it’s flat for a while.

Many of the overpriced homes are languishing and if they really want and/or need to sell, eventually they will reduce.

[jpinpb]

qwerty – I rode around Chelsea. Great area. But for sure in today’s market, too much.

Seems like anything priced below the normal high peak generates a lot of interest and people start foaming at the mouth and falling over each other to get it as if it will be the last deal out there.

That, to me, is the biggest sign that we are no where near bottom. When I sold my house in Carmel Valley we were beginning the bubble. I did not get multiple offers. It was nice. Not a McMansion, but you still couldn’t buy it today for anything reasonable.

When the frenzy of multiple bids stop, you know you’re at bottom. JMO. That may mean bottom and it’s flat for a while.

Many of the overpriced homes are languishing and if they really want and/or need to sell, eventually they will reduce.

[jpinpb]

qwerty – I rode around Chelsea. Great area. But for sure in today’s market, too much.

Seems like anything priced below the normal high peak generates a lot of interest and people start foaming at the mouth and falling over each other to get it as if it will be the last deal out there.

That, to me, is the biggest sign that we are no where near bottom. When I sold my house in Carmel Valley we were beginning the bubble. I did not get multiple offers. It was nice. Not a McMansion, but you still couldn’t buy it today for anything reasonable.

When the frenzy of multiple bids stop, you know you’re at bottom. JMO. That may mean bottom and it’s flat for a while.

Many of the overpriced homes are languishing and if they really want and/or need to sell, eventually they will reduce.

[jpinpb]

qwerty – I rode around Chelsea. Great area. But for sure in today’s market, too much.

Seems like anything priced below the normal high peak generates a lot of interest and people start foaming at the mouth and falling over each other to get it as if it will be the last deal out there.

That, to me, is the biggest sign that we are no where near bottom. When I sold my house in Carmel Valley we were beginning the bubble. I did not get multiple offers. It was nice. Not a McMansion, but you still couldn’t buy it today for anything reasonable.

When the frenzy of multiple bids stop, you know you’re at bottom. JMO. That may mean bottom and it’s flat for a while.

Many of the overpriced homes are languishing and if they really want and/or need to sell, eventually they will reduce.

[jpinpb]

qwerty – I rode around Chelsea. Great area. But for sure in today’s market, too much.

Seems like anything priced below the normal high peak generates a lot of interest and people start foaming at the mouth and falling over each other to get it as if it will be the last deal out there.

That, to me, is the biggest sign that we are no where near bottom. When I sold my house in Carmel Valley we were beginning the bubble. I did not get multiple offers. It was nice. Not a McMansion, but you still couldn’t buy it today for anything reasonable.

When the frenzy of multiple bids stop, you know you’re at bottom. JMO. That may mean bottom and it’s flat for a while.

Many of the overpriced homes are languishing and if they really want and/or need to sell, eventually they will reduce.

[XBoxBoy]

While I might be in the minority with this opinion, I’d say the location on Chelsea is not nearly as nice as you might think at first. There is a lot of traffic on Chelsea as people try to avoid LJ Blvd, and this traffic will only get worse in the coming years.

I’m not surprised though that there are lots of bids in on the house with such a low price. But whoever gets it is going to spend a good bit to put it back together. More than likely, more headache and cost than they currently realize.

For my money, there are several places in LJ that while a couple hundred grand more, are far better values if you want a construction project. (Not a lot of these mind you, but they are out there)

JP – you can always get a bidding war, even in horrible times, just set your asking price low enough and let the market tell you what the best price is. And there’s always the chance that someone will get caught up in the excitement of the auction and way overbid.

Of course, time will tell whether this optimism and bidding war is justified.

XBoxBoy

[XBoxBoy]

While I might be in the minority with this opinion, I’d say the location on Chelsea is not nearly as nice as you might think at first. There is a lot of traffic on Chelsea as people try to avoid LJ Blvd, and this traffic will only get worse in the coming years.

I’m not surprised though that there are lots of bids in on the house with such a low price. But whoever gets it is going to spend a good bit to put it back together. More than likely, more headache and cost than they currently realize.

For my money, there are several places in LJ that while a couple hundred grand more, are far better values if you want a construction project. (Not a lot of these mind you, but they are out there)

JP – you can always get a bidding war, even in horrible times, just set your asking price low enough and let the market tell you what the best price is. And there’s always the chance that someone will get caught up in the excitement of the auction and way overbid.

Of course, time will tell whether this optimism and bidding war is justified.

XBoxBoy

[XBoxBoy]

While I might be in the minority with this opinion, I’d say the location on Chelsea is not nearly as nice as you might think at first. There is a lot of traffic on Chelsea as people try to avoid LJ Blvd, and this traffic will only get worse in the coming years.

I’m not surprised though that there are lots of bids in on the house with such a low price. But whoever gets it is going to spend a good bit to put it back together. More than likely, more headache and cost than they currently realize.

For my money, there are several places in LJ that while a couple hundred grand more, are far better values if you want a construction project. (Not a lot of these mind you, but they are out there)

JP – you can always get a bidding war, even in horrible times, just set your asking price low enough and let the market tell you what the best price is. And there’s always the chance that someone will get caught up in the excitement of the auction and way overbid.

Of course, time will tell whether this optimism and bidding war is justified.

XBoxBoy

[XBoxBoy]

While I might be in the minority with this opinion, I’d say the location on Chelsea is not nearly as nice as you might think at first. There is a lot of traffic on Chelsea as people try to avoid LJ Blvd, and this traffic will only get worse in the coming years.

I’m not surprised though that there are lots of bids in on the house with such a low price. But whoever gets it is going to spend a good bit to put it back together. More than likely, more headache and cost than they currently realize.

For my money, there are several places in LJ that while a couple hundred grand more, are far better values if you want a construction project. (Not a lot of these mind you, but they are out there)

JP – you can always get a bidding war, even in horrible times, just set your asking price low enough and let the market tell you what the best price is. And there’s always the chance that someone will get caught up in the excitement of the auction and way overbid.

Of course, time will tell whether this optimism and bidding war is justified.

XBoxBoy

[Author]

Posts