[pemeliza]

“For example, note the house on Bolero in 92009 that recently went pending (the modern, white one with 1/2 acre and view). The flipper bought it for ~$645K, IIRC, and without doing any renovations (I prefer they NOT do renovations, for the same reasons stated by other posters in this thread), put it on the market in the high $900K range and it’s pending. Now, if the bank took it back instead, they could have listed it for $750K. The bank/taxpayers would have saved $100K, and the buyer could have saved $200K-$250K.”

If it is pending now for the high $900k range then how on earth would a buyer have bought it for $750k as a REO?

REO’s sell for more then flipper properties because everyone wants to “steal” one from the bank. BTW, the house on Bolero has a vacant lot sitting to the west of it. Still, if someone bought it at $645k than that was a great price.

[pemeliza]

“For example, note the house on Bolero in 92009 that recently went pending (the modern, white one with 1/2 acre and view). The flipper bought it for ~$645K, IIRC, and without doing any renovations (I prefer they NOT do renovations, for the same reasons stated by other posters in this thread), put it on the market in the high $900K range and it’s pending. Now, if the bank took it back instead, they could have listed it for $750K. The bank/taxpayers would have saved $100K, and the buyer could have saved $200K-$250K.”

If it is pending now for the high $900k range then how on earth would a buyer have bought it for $750k as a REO?

REO’s sell for more then flipper properties because everyone wants to “steal” one from the bank. BTW, the house on Bolero has a vacant lot sitting to the west of it. Still, if someone bought it at $645k than that was a great price.

[pemeliza]

“For example, note the house on Bolero in 92009 that recently went pending (the modern, white one with 1/2 acre and view). The flipper bought it for ~$645K, IIRC, and without doing any renovations (I prefer they NOT do renovations, for the same reasons stated by other posters in this thread), put it on the market in the high $900K range and it’s pending. Now, if the bank took it back instead, they could have listed it for $750K. The bank/taxpayers would have saved $100K, and the buyer could have saved $200K-$250K.”

If it is pending now for the high $900k range then how on earth would a buyer have bought it for $750k as a REO?

REO’s sell for more then flipper properties because everyone wants to “steal” one from the bank. BTW, the house on Bolero has a vacant lot sitting to the west of it. Still, if someone bought it at $645k than that was a great price.

[pemeliza]

sdr, thanks for the info. I think I know which house in LCO you are talking about for your client. When it came on the market I thought the price was very low. Congrats on getting the sale.

As bad as location as the two I mentioned are, there are some that are even worse because they back directly up to RSF road. These are a few houses away.

[pemeliza]

sdr, thanks for the info. I think I know which house in LCO you are talking about for your client. When it came on the market I thought the price was very low. Congrats on getting the sale.

As bad as location as the two I mentioned are, there are some that are even worse because they back directly up to RSF road. These are a few houses away.

[pemeliza]

sdr, thanks for the info. I think I know which house in LCO you are talking about for your client. When it came on the market I thought the price was very low. Congrats on getting the sale.

As bad as location as the two I mentioned are, there are some that are even worse because they back directly up to RSF road. These are a few houses away.

[pemeliza]

sdr, thanks for the info. I think I know which house in LCO you are talking about for your client. When it came on the market I thought the price was very low. Congrats on getting the sale.

As bad as location as the two I mentioned are, there are some that are even worse because they back directly up to RSF road. These are a few houses away.

[pemeliza]

sdr, thanks for the info. I think I know which house in LCO you are talking about for your client. When it came on the market I thought the price was very low. Congrats on getting the sale.

As bad as location as the two I mentioned are, there are some that are even worse because they back directly up to RSF road. These are a few houses away.

[pemeliza]

sdr, your cutoff last year was around 850k now it is 700k so you seem to have become a bit more bearish on the mid-priced (700k-850k) homes. Looking at the sales last year in Carlsbad, it was amazing to me to see what you could get for around 700k.

And early in ’10 it looks like things are still on shaky ground in LC Oaks.

http://www.sdlookup.com/MLS-090070603-7327_Paseo_Capuchina_Carlsbad_CA_92009

http://www.sdlookup.com/MLS-100002493-7331_Paseo_Capuchina_Carlsbad_CA_92009

These prices look more like La Costa Greens:

http://www.sdlookup.com/MLS-090006046-2377_Larimar_Carlsbad_CA_92009

[pemeliza]

sdr, your cutoff last year was around 850k now it is 700k so you seem to have become a bit more bearish on the mid-priced (700k-850k) homes. Looking at the sales last year in Carlsbad, it was amazing to me to see what you could get for around 700k.

And early in ’10 it looks like things are still on shaky ground in LC Oaks.

http://www.sdlookup.com/MLS-090070603-7327_Paseo_Capuchina_Carlsbad_CA_92009

http://www.sdlookup.com/MLS-100002493-7331_Paseo_Capuchina_Carlsbad_CA_92009

These prices look more like La Costa Greens:

http://www.sdlookup.com/MLS-090006046-2377_Larimar_Carlsbad_CA_92009

[pemeliza]

sdr, your cutoff last year was around 850k now it is 700k so you seem to have become a bit more bearish on the mid-priced (700k-850k) homes. Looking at the sales last year in Carlsbad, it was amazing to me to see what you could get for around 700k.

And early in ’10 it looks like things are still on shaky ground in LC Oaks.

http://www.sdlookup.com/MLS-090070603-7327_Paseo_Capuchina_Carlsbad_CA_92009

http://www.sdlookup.com/MLS-100002493-7331_Paseo_Capuchina_Carlsbad_CA_92009

These prices look more like La Costa Greens:

http://www.sdlookup.com/MLS-090006046-2377_Larimar_Carlsbad_CA_92009

[pemeliza]

sdr, your cutoff last year was around 850k now it is 700k so you seem to have become a bit more bearish on the mid-priced (700k-850k) homes. Looking at the sales last year in Carlsbad, it was amazing to me to see what you could get for around 700k.

And early in ’10 it looks like things are still on shaky ground in LC Oaks.

http://www.sdlookup.com/MLS-090070603-7327_Paseo_Capuchina_Carlsbad_CA_92009

http://www.sdlookup.com/MLS-100002493-7331_Paseo_Capuchina_Carlsbad_CA_92009

These prices look more like La Costa Greens:

http://www.sdlookup.com/MLS-090006046-2377_Larimar_Carlsbad_CA_92009

[pemeliza]

sdr, your cutoff last year was around 850k now it is 700k so you seem to have become a bit more bearish on the mid-priced (700k-850k) homes. Looking at the sales last year in Carlsbad, it was amazing to me to see what you could get for around 700k.

And early in ’10 it looks like things are still on shaky ground in LC Oaks.

http://www.sdlookup.com/MLS-090070603-7327_Paseo_Capuchina_Carlsbad_CA_92009

http://www.sdlookup.com/MLS-100002493-7331_Paseo_Capuchina_Carlsbad_CA_92009

These prices look more like La Costa Greens:

http://www.sdlookup.com/MLS-090006046-2377_Larimar_Carlsbad_CA_92009

[pemeliza]

For that price in Cardiff you are going to be a stone’s throw from the I-5. There are a few things in Encinitas but you would probably have to deal with a short sale to get something decent. A good detached foreclosure in your price point would probably be highly contested in these areas so be prepared for a tough fight if you want to get something good. Like CAR and SDR said the situation could improve for buyers but probably not over the next 6 months.

[pemeliza]

For that price in Cardiff you are going to be a stone’s throw from the I-5. There are a few things in Encinitas but you would probably have to deal with a short sale to get something decent. A good detached foreclosure in your price point would probably be highly contested in these areas so be prepared for a tough fight if you want to get something good. Like CAR and SDR said the situation could improve for buyers but probably not over the next 6 months.

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