Wow, I hope my more modest house and renovation have caused the value of my place to double. Right now zillow says I’m up 68%, but I bought at the very bottom of the market. Maybe I should test it at double what I paid?
While these prices seem high, they are basically in line with the few non-flip comparable listings. They are also in line with the most recent 1M+ closing:
You are correct. The house on coronado was my friends parents house and it use to be a very small and outdated .
They did a complete rebuild recently. It sits atop the highest point in OB and has amazing views the Pacific!
So…. Being the sour grapes, suspicious person as I am….I was curious as to what’s behind these amazing flips…and decided to ask someone knowledgeable about them.
For example, on one of these properties listed as 1.6million…. 4393 Coronado
This house went from being something in 2013 that is $815,000 priced at $1029/sqft to something that is $1.6million priced at $564/sqft.
In other words 4393 Coronado was a 792 sqft shack that was turned into a 2900sqft McMansion, most likely through a massive remodeling/teardown.
Credit goes to sdrealtor for helping me understand what is going on some of these properties. It doesn’t appear these are 100% gain “flips”, also supported by some of the the before and after pictures too….
Still nice looking modern homes though with a beautiful view from the upper floor that was added 🙂
Thanks for the history. The listing does not mention that 70% of house is brand new. You’d think that would be a big selling point since so many of the large houses around there are old, even if nicely renovated.
The hilarious thing about beach communities is some of the complete remodels will involve building a home in a completely different style. There are parts of La Jolla where it goes Craftsman, Spanish Style, Super Modern, etc, all on the same street.
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