Ridiculous in PB?

[JC]

Probably just one of many, but does anyone care to comment? (Zestimate is like 800k)

http://sandiego.craigslist.org/rfs/398621766.html

P.S. have no personal interest in this property. it is way out of my range.

[blahblahblah]

Original comment deleted — I just noticed that one side rents for $3800/mo. That’s pretty good but I don’t know if they’ll always be able to get that for only 1600sf.

Not sure what it’s worth, but I’ll tell you what it ain’t worth — 1.6M, that’s for sure.

[blahblahblah]

Original comment deleted — I just noticed that one side rents for $3800/mo. That’s pretty good but I don’t know if they’ll always be able to get that for only 1600sf.

Not sure what it’s worth, but I’ll tell you what it ain’t worth — 1.6M, that’s for sure.

[blahblahblah]

Original comment deleted — I just noticed that one side rents for $3800/mo. That’s pretty good but I don’t know if they’ll always be able to get that for only 1600sf.

Not sure what it’s worth, but I’ll tell you what it ain’t worth — 1.6M, that’s for sure.

[Ex-SD]

The owner is going to own that property for a long, long time (unless they walk away from it). No investor will pay anywhere near that price for that property because they would be upside down.

[Ex-SD]

The owner is going to own that property for a long, long time (unless they walk away from it). No investor will pay anywhere near that price for that property because they would be upside down.

[Ex-SD]

The owner is going to own that property for a long, long time (unless they walk away from it). No investor will pay anywhere near that price for that property because they would be upside down.

[waterboy]

Yeah that owner’s situation isn’t looking good and I don’t know how they got somebody to pay those rents…way to high.

PB is an interesting market as many have held tight to their original listing prices. For those that have the room to discount their price by 10%-20% do it now and you still might get it sold quickly. Very apparent with condos as you might see 5 similar units in the same building listed at way to high prices but the one priced 10-20% lower sells fast even though I don’t know why anyone would buy today. Maybe psychologically it gives that buyer a feeling that they are getting a good deal even though they might take another 15-20% dive over the next 4-5 years.

I am also seeing a few that still think they can flip……

[waterboy]

Yeah that owner’s situation isn’t looking good and I don’t know how they got somebody to pay those rents…way to high.

PB is an interesting market as many have held tight to their original listing prices. For those that have the room to discount their price by 10%-20% do it now and you still might get it sold quickly. Very apparent with condos as you might see 5 similar units in the same building listed at way to high prices but the one priced 10-20% lower sells fast even though I don’t know why anyone would buy today. Maybe psychologically it gives that buyer a feeling that they are getting a good deal even though they might take another 15-20% dive over the next 4-5 years.

I am also seeing a few that still think they can flip……

[waterboy]

Yeah that owner’s situation isn’t looking good and I don’t know how they got somebody to pay those rents…way to high.

PB is an interesting market as many have held tight to their original listing prices. For those that have the room to discount their price by 10%-20% do it now and you still might get it sold quickly. Very apparent with condos as you might see 5 similar units in the same building listed at way to high prices but the one priced 10-20% lower sells fast even though I don’t know why anyone would buy today. Maybe psychologically it gives that buyer a feeling that they are getting a good deal even though they might take another 15-20% dive over the next 4-5 years.

I am also seeing a few that still think they can flip……

[DCRogers]

Not that “desparate”… according to sdlookup.com, they just bought the house for $1.3M in March of 2006.

If wanting to sell your house at 25% more than it was worth last year counts as desperate, then I’m desperate too. Something tells me these people are about to learn a lot more about what actually counts as desperation.

[DCRogers]

Not that “desparate”… according to sdlookup.com, they just bought the house for $1.3M in March of 2006.

If wanting to sell your house at 25% more than it was worth last year counts as desperate, then I’m desperate too. Something tells me these people are about to learn a lot more about what actually counts as desperation.

[DCRogers]

Not that “desparate”… according to sdlookup.com, they just bought the house for $1.3M in March of 2006.

If wanting to sell your house at 25% more than it was worth last year counts as desperate, then I’m desperate too. Something tells me these people are about to learn a lot more about what actually counts as desperation.

[Ex-SD]

Even with it’s close location to the beach, it’s an odd property and in the real world, it’s really not worth more than $550k. I’m not saying that some sucker wouldn’t pay $900k in todays market and think that he stole it but it’s really not worth more than $550k with the buyer living in the larger unit and using the other unit as a rental. That’s all I would pay for it.

[Ex-SD]

Even with it’s close location to the beach, it’s an odd property and in the real world, it’s really not worth more than $550k. I’m not saying that some sucker wouldn’t pay $900k in todays market and think that he stole it but it’s really not worth more than $550k with the buyer living in the larger unit and using the other unit as a rental. That’s all I would pay for it.

[Author]

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