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SD Realtor refresh my memory here again, if the bank repo’s, does it show up as a regular sale when they get rid of it or will it get discounted out of comparables because if was a foreclosure?

I think Perry hit the nail, they may know if they go foreclosure, they’ll get 50-60 of what they are asking now. However, if they sell it now for 80% of thier asking, half the homes in the neighborhood are DOA for loans.

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LBC, June will be a different time, if I didn’t move into my current place in June, I probably could have peeled 10-20% off the price.

You may have to suck it up for four months to get you through October, or better, commit to a six month extension which will allow you to find a place in December/January.

Meanwhile, back at my ranch, the neighboring place is still vacant, once again all his flyers in the little box are gone, but still no renters. Having previously checked Zillow, the owner is in great shape, they bought it 20 years ago… still, empty 2.5 months and counting.

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PC, that was kind of my thought. If it’s a short sale requiring bank approval, then there is probably very little negotiation room on the price.

The bank will stick for market price. Even though they’ll get a lower price when they foreclose, they know they’ll get real price.

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Those Laguna Niguel units were built and originally sold peak thru the bottom of last cycle.

If you snoop zillow along the ridge long enough, you’ll find places that sold in ’93-’96 range for low $200s.

Laguna Niguel was the boonies back in late 90s. There wasn’t coffee house or grocery store to be found near.

What factor would you add on for an area completing buildout and instead of being a few isolated subdivisions of homes, they’re now all interconnected with shopping centers, grocery stores, starbucks, etc.

A lot depends on market psychology. If they break $400K, they’ll test $300K. They’re also at the awkward age for homes 10-15 years. Style differences are big enough, wear and tear on long wear items heavy enough, that they becomes distractions yet, new enough that people have’t figured out how to revitalise and reuse the space like they have on the homes build in the 70s/80s out here.

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anyone know anything about MN?

You mean the State?

Ask away.

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Yep, reading something like this

Sale History & Tax Info Sale History
10/12/2006: $570,000
01/14/2003: $355,000
08/27/1997: $165,000

Makes you ask just how much a place is really worth.

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They’ve got enough other projects, I wonder why the lender didn’t make them extract some equity from one of their other projects?

Um, because losing $7 million on one deal is better than losing $25 million on five deals.

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Ouch 5987 units selling in current and future phases for just conversions.

that’s a lot of apartments coming back to the rental pool. Add the 5000 downtown new units and you’re over 10,000 condos coming into the market.

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I just crossed SFR that I’m going to go look at to see what the scoop is in a good part of Costa Mesa.

Last sold 10/2005 at $689,000, listed $615,000. On the market 176 days and counting…

At full asking price less 6% commission, that’s a harsh $110,900 loss in a year. (It’s was on the market in less than a year)

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Get the financial staement from the HOA and see how “liquid” you are.

And look with a cynical eye. I lived in a townhome complex that was 35 duplex structures. Each two stories high and 1300-1500 sf per unit. Essentially 35 large homes.

The complex had $350,000 in roofing reserves and was at 20 years with original shaker roof.

Not only did the HOA blow through the $300K downgrading to an asphalt shingle, but because of unforeseen termite damage (well known in the community), a special assessment of $3500 was due. This is after all bidders got the chance to inspect 3 units.

So, think what a repair is going to cost you in an SFR, multiply by two, and add a factor for incompetence and graft.

Want another one? My current rental last year needed to do terminte tenting. Since the HOA newsletter comes to the house, I know the special assessment for the owners was $3000, luckily it came with a monthly option $94/month for the next four years. Plus, all the owners had to foot themselves off to a hotel for a three day weekend.

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Is that pool table in the Grande in a common room? Or is this a repeat listing?

I’ve seen that pool table in pictures for the Grande before on Zip.

Also, #503, doesn’t have a single photo of the condo. It’s all common areas.

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“Brokers prospered by not giving out information,” says Dottie Herman, CEO of New York based broker, Prudential Douglas Elliman

All hail Dottie, admitter that RE agents prospered by maintaining an inefficient marketplace.

Efficient markets are dependent on all players have all known information available to them.

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Wow, someone actually paid $800,000 for a 3 bedroom apartment.

When you look at your Cedars complex property on Zip, one of the others it highlights is on India St.

love picture #6, gotta keep the bicycles in the 2nd bedroom because there’s no place else to store them. Guess that bedroom really isn’t used.

Talk about making feel like you’re in an apartment, bicycles rusting away on the balconies.

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[img_assist|nid=2403|title=Random Length Lumber Prices|desc=|link=node|align=left|width=466|height=373]

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Yeah, a starter home typical is a smaller 3bd 2ba place.

Whatever happened to the NAR proposal to redefine affordability to be based on just the median price of condos? Since in their rationale ‘condos represent the entry market’…

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