Realtor Question, Cardiff

[CardiffBaseball]

I looked up a house that seemingly didn’t sell for awhile and lo and behold it listed as sold at the SD Lookup site for $425,000, on 2/12/07. Then it sells again on 3/7/07 for $512,000. Is there such a thing as a partial sell? 1st then second? It seems like an awfully strange occurance. The house is now for rent, so something doesn’t seem right.

[CardiffBaseball]

Oops forgot the address is 912 Emma Dr.

[sdrealtor]

First sale was a non-MLS perhaps a FSBO at what looks like a very low price to a licensed realtor. Kinda looks like the first seller could have been a long time owner or someone who inherited the property. At that price I would say they got robbed but who really knows the circumstances around the sale.

The second sale was to another realtor in this area that has bought fixers and flipped them in the area. The second sale was for $560,000 four days after it was listed and based upon the asking price of $575,000 I would guess that no commissions were taken by the buyer/agent.

[SD Realtor]

Hi Cardiff –

Looking on the MLS, the property sold on 3/5/07 for 560k. The seller was a guy named Pujji Rominder. Now I did a lookup on him. He is not a Realtor yet he was the listing agent. More likely then not he is a mortgage guy. (That is a speculative statement)

Now there is something kind of wierd because on 2/12/07 there was a sell, (not on the MLS) for a price of 425k. Interestingly enough there is a mortgage recorded for an amount of 454k.

Anyways… it is what it is…
SD Realtor

[sdrealtor]

SD R,
He is a Realtor and is licensed as a RE salesperson. You probably reversed the names when you tried to look them up.

[CardiffBaseball]

Oh and the house is not for rent. I drove past it, and it’s under some remodeling, it looks pretty rough. So basically the original 2/12 sale, that person was merely getting out from under the home. Possibly not wanting to do repairs, but I am surprised it didn’t reset some comps.

[sdrealtor]

They guy who bought is also a general contractor. He’ll throw about 20K plus his own time at to make it pretty and my guess is that it will be back on the market for about $100,000 more than he paid within a couple weeks. Won’t make a killing but I’ll bet he walks away with at least $25,000 for his 30 to 60 days of work.

[SD Realtor]

Thanks sdr –

I did a member search on Sandicor on the name in the tax roll but nothing came up. So yeah I figured he is a licensee or broker but not a Realtor. Also I think the tax roll recording on the mortgage was a little higher then the recorded sales price.

SD Realtor

[sdrealtor]

Try this next time. Its a good link to have handy. It allows you to look up any individual with a real estate license in CA. You can see how long they’ve been licensed and with whom.

http://www2.dre.ca.gov/PublicASP/pplinfo.asp

[sdrealtor]

Damn I’m GOOD!

Just found this on his website as coming soon:

Cardiff. Fully rehabbed home close to the beach. 3/2/1100 sf. New everything, good sized yard, cul-de-sac, two car garage. Proposed price is $700,000. Should be ready June 07. Call now to get in early in the process and pick colors and finishes. Cardiff-by-the-Sea is one of the best beach towns in all of California and one of San Diegos strongest markets. Prices here have held up beautifully over the last year. There’s a reason for that.

[CardiffBaseball]

2/12/07 – $425,000
3/5/07 – $560,000
6/7/07 – $700,000

Who says the craziness is over, though admittedly we’d need to see the place sell at that price. The one halfway down Playa Riviera with a view was $581,000, though it was a junker. There is one just adjacent to this place on Playa Riviera that sold for $689,000 with a ton of upgrades. That property was far more elegant than this Emma property.

I drove by, and all I can say is Yuck, but one man’s trash….

[sdrealtor]

CBS is a unique place as you know and should fare better than most areas in the downturn even Encinitas. There is no undeveloped land in CBS and any new construction will be high end infill projects. If you are seriously considering staying in the immediate area I would look at some of the nice older parts of Encinitas closer to ECR where you can get a nice single level on a 10,000 sq ft lot with no HOA or mello roos. Those are far more likely to reach affordability for you than a decent place in CBS.

[CardiffBaseball]

Oh absolutely sdr, I will probably slide over to the area you mention. My friend who just bought in Westwood sent me one that he actually wanted to buy and couldn’t get them down to $595 from $617. Apparently the owner moved and is now willing to deal, but I think the area closer to El Camino Real while more expensive, is better for me. RB is just too hard to commute to I-5/Genessee area. From Cardiff it’s rarely more than 30 minutes and surface streets in Encinitas would add 5-10 minutes tops.

[sdrealtor]

If you stay south of Enc Blvd you save 5 to 10 minutes also vs being north of it.

[SD Realtor]

sdr of course the dre link is useful when checking the status of a licensee. I use that all the time. However the DRE has no information on whether that person is a Realtor. That is the point I was making.

The guy in question is not a Realtor. Or shall I say not a member of SDAR (that I know of)

SD Realtor

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