Spring Housing Prediction

[(former)FormerSanDiegan]

[quote=DWCAP]’He recently used Craigslist, a popular community website, to advertise a one-bedroom apartment on Federal Avenue in West L.A. Price: $1,495 a month. When no one bit, he dropped it to $1,395. When the vacancy hit the two-month mark, McCabe dropped it another $100 and found a renter.’
-LA times article posted above.

Now, lets do the math. Assuming rental income over 1 year.

10 months X 1495/month = 14’950
12 months X 1295/month = 15’540

This LL lost $550 in potental rental income because it was priced too high. Not to mention the cash flow impact assuming this LL had a morgage. I know this wont go over well here, but some times I think LL get alittle caught up in the idea that “my place is special”.

[/quote]

I doubt that the McCabe, the president of property management firm Century West Properties really thinks that a 1-BR apartment in West LA is “special”.

[an]

[quote=sdrealtor]Pepsi
Just checked and only 1 fit the criteria. theo thers were too small, too old and/or backed to busy streets. Theonly one is the last one Corte AL Fresco an REO listed today for $795K which should sell very quickly with multiple offers above $800K unless teh listing agent slips one of thier own buyers in at a deal price.[/quote]
I guess the market doesn’t agree. It’s been on the market for 37 days and just dropped the price today to $780k.

[an]

[quote=sdrealtor]Pepsi
Just checked and only 1 fit the criteria. theo thers were too small, too old and/or backed to busy streets. Theonly one is the last one Corte AL Fresco an REO listed today for $795K which should sell very quickly with multiple offers above $800K unless teh listing agent slips one of thier own buyers in at a deal price.[/quote]
I guess the market doesn’t agree. It’s been on the market for 37 days and just dropped the price today to $780k.

[an]

[quote=sdrealtor]Pepsi
Just checked and only 1 fit the criteria. theo thers were too small, too old and/or backed to busy streets. Theonly one is the last one Corte AL Fresco an REO listed today for $795K which should sell very quickly with multiple offers above $800K unless teh listing agent slips one of thier own buyers in at a deal price.[/quote]
I guess the market doesn’t agree. It’s been on the market for 37 days and just dropped the price today to $780k.

[an]

[quote=sdrealtor]Pepsi
Just checked and only 1 fit the criteria. theo thers were too small, too old and/or backed to busy streets. Theonly one is the last one Corte AL Fresco an REO listed today for $795K which should sell very quickly with multiple offers above $800K unless teh listing agent slips one of thier own buyers in at a deal price.[/quote]
I guess the market doesn’t agree. It’s been on the market for 37 days and just dropped the price today to $780k.

[an]

[quote=sdrealtor]Pepsi
Just checked and only 1 fit the criteria. theo thers were too small, too old and/or backed to busy streets. Theonly one is the last one Corte AL Fresco an REO listed today for $795K which should sell very quickly with multiple offers above $800K unless teh listing agent slips one of thier own buyers in at a deal price.[/quote]
I guess the market doesn’t agree. It’s been on the market for 37 days and just dropped the price today to $780k.

[pepsi]

[quote=asianautica][quote=sdrealtor]Pepsi
Just checked and only 1 fit the criteria. theo thers were too small, too old and/or backed to busy streets. Theonly one is the last one Corte AL Fresco an REO listed today for $795K which should sell very quickly with multiple offers above $800K unless teh listing agent slips one of thier own buyers in at a deal price.[/quote]
I guess the market doesn’t agree. It’s been on the market for 37 days and just dropped the price today to $780k.[/quote]

That is not going sell, unless this one sold ($284/sqf) first:

http://www.sdlookup.com/MLS-090002717-12838_Briarcrest_San_Diego_Ca_92130

[pepsi]

[quote=asianautica][quote=sdrealtor]Pepsi
Just checked and only 1 fit the criteria. theo thers were too small, too old and/or backed to busy streets. Theonly one is the last one Corte AL Fresco an REO listed today for $795K which should sell very quickly with multiple offers above $800K unless teh listing agent slips one of thier own buyers in at a deal price.[/quote]
I guess the market doesn’t agree. It’s been on the market for 37 days and just dropped the price today to $780k.[/quote]

That is not going sell, unless this one sold ($284/sqf) first:

http://www.sdlookup.com/MLS-090002717-12838_Briarcrest_San_Diego_Ca_92130

[pepsi]

[quote=asianautica][quote=sdrealtor]Pepsi
Just checked and only 1 fit the criteria. theo thers were too small, too old and/or backed to busy streets. Theonly one is the last one Corte AL Fresco an REO listed today for $795K which should sell very quickly with multiple offers above $800K unless teh listing agent slips one of thier own buyers in at a deal price.[/quote]
I guess the market doesn’t agree. It’s been on the market for 37 days and just dropped the price today to $780k.[/quote]

That is not going sell, unless this one sold ($284/sqf) first:

http://www.sdlookup.com/MLS-090002717-12838_Briarcrest_San_Diego_Ca_92130

[pepsi]

[quote=asianautica][quote=sdrealtor]Pepsi
Just checked and only 1 fit the criteria. theo thers were too small, too old and/or backed to busy streets. Theonly one is the last one Corte AL Fresco an REO listed today for $795K which should sell very quickly with multiple offers above $800K unless teh listing agent slips one of thier own buyers in at a deal price.[/quote]
I guess the market doesn’t agree. It’s been on the market for 37 days and just dropped the price today to $780k.[/quote]

That is not going sell, unless this one sold ($284/sqf) first:

http://www.sdlookup.com/MLS-090002717-12838_Briarcrest_San_Diego_Ca_92130

[pepsi]

[quote=asianautica][quote=sdrealtor]Pepsi
Just checked and only 1 fit the criteria. theo thers were too small, too old and/or backed to busy streets. Theonly one is the last one Corte AL Fresco an REO listed today for $795K which should sell very quickly with multiple offers above $800K unless teh listing agent slips one of thier own buyers in at a deal price.[/quote]
I guess the market doesn’t agree. It’s been on the market for 37 days and just dropped the price today to $780k.[/quote]

That is not going sell, unless this one sold ($284/sqf) first:

http://www.sdlookup.com/MLS-090002717-12838_Briarcrest_San_Diego_Ca_92130

[an]

[quote=pepsi]
That is not going sell, unless this one sold ($284/sqf) first:

http://www.sdlookup.com/MLS-090002717-12838_Briarcrest_San_Diego_Ca_92130

[/quote]
This place is about 170 sq-ft bigger, but it’s right next to the freeway. I’d take the other one over this one for the same price. Freeway noise sucks.

[an]

[quote=pepsi]
That is not going sell, unless this one sold ($284/sqf) first:

http://www.sdlookup.com/MLS-090002717-12838_Briarcrest_San_Diego_Ca_92130

[/quote]
This place is about 170 sq-ft bigger, but it’s right next to the freeway. I’d take the other one over this one for the same price. Freeway noise sucks.

[an]

[quote=pepsi]
That is not going sell, unless this one sold ($284/sqf) first:

http://www.sdlookup.com/MLS-090002717-12838_Briarcrest_San_Diego_Ca_92130

[/quote]
This place is about 170 sq-ft bigger, but it’s right next to the freeway. I’d take the other one over this one for the same price. Freeway noise sucks.

[an]

[quote=pepsi]
That is not going sell, unless this one sold ($284/sqf) first:

http://www.sdlookup.com/MLS-090002717-12838_Briarcrest_San_Diego_Ca_92130

[/quote]
This place is about 170 sq-ft bigger, but it’s right next to the freeway. I’d take the other one over this one for the same price. Freeway noise sucks.

[Author]

Posts