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JC
ParticipantI like the “open house everday”. What a riot!
ParticipantI like the “open house everday”. What a riot!
ParticipantI like the “open house everday”. What a riot!
ParticipantI like the “open house everday”. What a riot!
ParticipantI like the “open house everday”. What a riot!
October 10, 2007 at 10:11 PM in reply to: So you still think that a 50% correction or more is crazy??? #87978ParticipantJust for fun, here is a close to 50% drop: http://www.sdlookup.com/MLS-076060789-4509_Idaho_St_8_San_Diego_CA_92116
How they EVER thought they could get 350k for this is beyond me…
October 10, 2007 at 10:11 PM in reply to: So you still think that a 50% correction or more is crazy??? #87983ParticipantJust for fun, here is a close to 50% drop: http://www.sdlookup.com/MLS-076060789-4509_Idaho_St_8_San_Diego_CA_92116
How they EVER thought they could get 350k for this is beyond me…
Participanthmmm. seems like there is so much that can’t be predicted in this market, but it does seem pretty certain that raising prices on “low-end” properties isn’t the best strategy if one actually wants to sell right now. again, i am no expert….
ParticipantInteresting question (if you were serious). I think I might actually buy it at 100k. At that point, it is almost a good investment, no? Mortgage payment + HOA + wear and tear could be covered by renting it out. I guess this is assuming my math is correct. 🙂
BTW. I am just having fun speculating. I am looking to buy something to live in, not to rent out.
ParticipantLOL. Thanks for a good laugh. 🙂 I thought La B was a comp killer, not a reason to boost prices, but I’m no expert.
ParticipantArraya,
Gotcha. I did not realize it was that bad. I feel for your friend — DEFINITELY not a fun situation to be in.
May I ask how you came up with the -$900/ month? My math might be orrible or maybe my assumptions are wrong.
I assumed 2bed place. 50k down / 249k purchase price = approx. 1,500/ mth + approx 200 HOA= 1,700/mth.
2 bed room rentals in NP – 1100 to 1500 per month. It’s still a loss, but not as dramatic as 900. (To be fair, I don’t know that I would be ok with any loss, so I am not making a judgement here).
Are you factoring in loss due to wear and tear or something like that? Or, am I missing something else big?
ParticipantArraya,
I like NP, but have to mostly agree with your comments about NP condos. However, the La Boheme project is newer and I *think* square footage might be good (relatively speaking). Do you think this makes any difference?
Of course, their HOAs are a tad outrageous. Not quite as bad as downtown, but….
ParticipantSpeaking of auctions of North Park properties…
Does anyone know what this property went for? I think the auction was last weekend.
ParticipantI LOVE it! I am not in real estate, but I closed several 1M + deals last year (better than anyone in my group). I drive one of the oldest cars on the lot and don’t “dress for success”. My clients give me great reviews (i do what i say i am going to do and then some).
Sadly, that appearance crap counts with a lot of people, so I’ve been moved off sales in my regular job.
Fortunately, I have friends who care more about results, so I can now do sales as a side gig and earn more in commission on a single deal than I did for the all of the 1M + deals.
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