[researcher9]

As a normal buyer its becoming more and more frustrating. I am working with a knowledgable and experienced Buyer’s Agent. But after such experiences I have now decided to not engage him with any potential short sales (knowing the risks involved).
In my target zip (92011), its really very competitive for anything decent that comes up as a reasonably priced regular sale. In 700-900k range, it seems there are multiple motivated buyers who are watching like hawks with “Laser Like Focus”. In Dec-Jan (low season) and with 24×7 Negative news about Real Estate, anything decent went pending at the asking price in a blink (e.g. Barberry, Cassins, Sitio Sago).
My Conclusion for my price range and in my target zip: Those nicer Ocean View dream homes (with pool, yard and swaying palms) … the ones that we all want … well those are not going to be impacted any significntly by this down turn no matter how many DoubleDips we have. There are honestly no Deals/Steals on those in a regular sale or even in a straight REO/short sale (check 6647 Thrasher, 6636 surf crest). For each one of those there are multiple potential buyers who are ready for blood bath.
Only way you can get some discount on those is by risking it … either buy those at the courthouse steps all-cash or by joining some manipulative deal, being executed in the name of “Foreclosure Crisis”. Otherwise simply change your criteria and look elsewhere. After all there is a big “Opportunity Cost” in terms of time, energy and peace-of-mind that gets spent in doing all this research.

[researcher9]

As a normal buyer its becoming more and more frustrating. I am working with a knowledgable and experienced Buyer’s Agent. But after such experiences I have now decided to not engage him with any potential short sales (knowing the risks involved).
In my target zip (92011), its really very competitive for anything decent that comes up as a reasonably priced regular sale. In 700-900k range, it seems there are multiple motivated buyers who are watching like hawks with “Laser Like Focus”. In Dec-Jan (low season) and with 24×7 Negative news about Real Estate, anything decent went pending at the asking price in a blink (e.g. Barberry, Cassins, Sitio Sago).
My Conclusion for my price range and in my target zip: Those nicer Ocean View dream homes (with pool, yard and swaying palms) … the ones that we all want … well those are not going to be impacted any significntly by this down turn no matter how many DoubleDips we have. There are honestly no Deals/Steals on those in a regular sale or even in a straight REO/short sale (check 6647 Thrasher, 6636 surf crest). For each one of those there are multiple potential buyers who are ready for blood bath.
Only way you can get some discount on those is by risking it … either buy those at the courthouse steps all-cash or by joining some manipulative deal, being executed in the name of “Foreclosure Crisis”. Otherwise simply change your criteria and look elsewhere. After all there is a big “Opportunity Cost” in terms of time, energy and peace-of-mind that gets spent in doing all this research.

[researcher9]

As a normal buyer its becoming more and more frustrating. I am working with a knowledgable and experienced Buyer’s Agent. But after such experiences I have now decided to not engage him with any potential short sales (knowing the risks involved).
In my target zip (92011), its really very competitive for anything decent that comes up as a reasonably priced regular sale. In 700-900k range, it seems there are multiple motivated buyers who are watching like hawks with “Laser Like Focus”. In Dec-Jan (low season) and with 24×7 Negative news about Real Estate, anything decent went pending at the asking price in a blink (e.g. Barberry, Cassins, Sitio Sago).
My Conclusion for my price range and in my target zip: Those nicer Ocean View dream homes (with pool, yard and swaying palms) … the ones that we all want … well those are not going to be impacted any significntly by this down turn no matter how many DoubleDips we have. There are honestly no Deals/Steals on those in a regular sale or even in a straight REO/short sale (check 6647 Thrasher, 6636 surf crest). For each one of those there are multiple potential buyers who are ready for blood bath.
Only way you can get some discount on those is by risking it … either buy those at the courthouse steps all-cash or by joining some manipulative deal, being executed in the name of “Foreclosure Crisis”. Otherwise simply change your criteria and look elsewhere. After all there is a big “Opportunity Cost” in terms of time, energy and peace-of-mind that gets spent in doing all this research.

[researcher9]

As a normal buyer its becoming more and more frustrating. I am working with a knowledgable and experienced Buyer’s Agent. But after such experiences I have now decided to not engage him with any potential short sales (knowing the risks involved).
In my target zip (92011), its really very competitive for anything decent that comes up as a reasonably priced regular sale. In 700-900k range, it seems there are multiple motivated buyers who are watching like hawks with “Laser Like Focus”. In Dec-Jan (low season) and with 24×7 Negative news about Real Estate, anything decent went pending at the asking price in a blink (e.g. Barberry, Cassins, Sitio Sago).
My Conclusion for my price range and in my target zip: Those nicer Ocean View dream homes (with pool, yard and swaying palms) … the ones that we all want … well those are not going to be impacted any significntly by this down turn no matter how many DoubleDips we have. There are honestly no Deals/Steals on those in a regular sale or even in a straight REO/short sale (check 6647 Thrasher, 6636 surf crest). For each one of those there are multiple potential buyers who are ready for blood bath.
Only way you can get some discount on those is by risking it … either buy those at the courthouse steps all-cash or by joining some manipulative deal, being executed in the name of “Foreclosure Crisis”. Otherwise simply change your criteria and look elsewhere. After all there is a big “Opportunity Cost” in terms of time, energy and peace-of-mind that gets spent in doing all this research.

[researcher9]

As a normal buyer its becoming more and more frustrating. I am working with a knowledgable and experienced Buyer’s Agent. But after such experiences I have now decided to not engage him with any potential short sales (knowing the risks involved).
In my target zip (92011), its really very competitive for anything decent that comes up as a reasonably priced regular sale. In 700-900k range, it seems there are multiple motivated buyers who are watching like hawks with “Laser Like Focus”. In Dec-Jan (low season) and with 24×7 Negative news about Real Estate, anything decent went pending at the asking price in a blink (e.g. Barberry, Cassins, Sitio Sago).
My Conclusion for my price range and in my target zip: Those nicer Ocean View dream homes (with pool, yard and swaying palms) … the ones that we all want … well those are not going to be impacted any significntly by this down turn no matter how many DoubleDips we have. There are honestly no Deals/Steals on those in a regular sale or even in a straight REO/short sale (check 6647 Thrasher, 6636 surf crest). For each one of those there are multiple potential buyers who are ready for blood bath.
Only way you can get some discount on those is by risking it … either buy those at the courthouse steps all-cash or by joining some manipulative deal, being executed in the name of “Foreclosure Crisis”. Otherwise simply change your criteria and look elsewhere. After all there is a big “Opportunity Cost” in terms of time, energy and peace-of-mind that gets spent in doing all this research.

[researcher9]

Yes you are correct … Camphor, Lemon Leaf, Barberry (Partial) and Petunia (Partial) are very unique for those “sit down” – from the ground level Unobstructed Panoramic Ocean Views from your backyard …
There are few on Black Rail that have those similar deep Ocean views (but not from Ground level) and transmission lines come in the way.

[researcher9]

Yes you are correct … Camphor, Lemon Leaf, Barberry (Partial) and Petunia (Partial) are very unique for those “sit down” – from the ground level Unobstructed Panoramic Ocean Views from your backyard …
There are few on Black Rail that have those similar deep Ocean views (but not from Ground level) and transmission lines come in the way.

[researcher9]

Yes you are correct … Camphor, Lemon Leaf, Barberry (Partial) and Petunia (Partial) are very unique for those “sit down” – from the ground level Unobstructed Panoramic Ocean Views from your backyard …
There are few on Black Rail that have those similar deep Ocean views (but not from Ground level) and transmission lines come in the way.

[researcher9]

Yes you are correct … Camphor, Lemon Leaf, Barberry (Partial) and Petunia (Partial) are very unique for those “sit down” – from the ground level Unobstructed Panoramic Ocean Views from your backyard …
There are few on Black Rail that have those similar deep Ocean views (but not from Ground level) and transmission lines come in the way.

[researcher9]

Yes you are correct … Camphor, Lemon Leaf, Barberry (Partial) and Petunia (Partial) are very unique for those “sit down” – from the ground level Unobstructed Panoramic Ocean Views from your backyard …
There are few on Black Rail that have those similar deep Ocean views (but not from Ground level) and transmission lines come in the way.

[researcher9]

To ljinvestor, Eugene et al,
Sorry guys, with all due respect … I think you are wrong on this. I hate to break your enthusiasm, but 6721 Camphor is not a deal/steal but a FRAUD. I dont say it as my opinion … I present to you the Hard Data.
This one is pretty close to me, as I have been trying to buy on Ocean View side of that street/hood for the past 2+ years … There is nothing under a Million there. Its the best part of 92011 … better than Bay Collection and most of Aviara.
Here is the Hard Data …
6744 is not a Comp to this one as it’s on Non-View side at a much lower street. Not even in the same hood.
Same goes for 1202 Mariposa.
Difference in View side (West) and Non-View side (East) on Camphor and Barberry is 200-300K+.
If you want to see the True Comps … watch out for 6707 Barberry (Sit Down Pano Ocean views but still not as great as they are from the Camphor Pl). Listed for 1.4 Million on Dec 12 and went pending in just 2 weeks. That computes to $421/sqft.
Another possible Comp is 1278 Veronica sold for 1 Million+ in May 2010 at $301/sqft. Again not a True Comp but can be considered.
Remember Ocean View Properties can not be Comped with Non-Ocean View … why .. Because I am trying to buy one for $850k for the past 2+ years and could not find anything decent in 92011.
Back to 6721 Camphor … called the Listing Agent (who btw also happens to be some RE Legal/Attorney type) … Wanted to put in the offer but was told “already accepted and locked one in … Not accepting any backup offers” … Reminded her that it’s not ethical to represnt both sides while shorting the bank, neighbourhood and other potential buyers. Was told in a lawyer speak …. “Its OK to do it by Law and legally an agent can represent both sides … Ethics are well Non-technical stuff and its nice to have those too”.

How many times have you seen a deal that looks like this …

Active -> Contigent -> Pending –> “Changed Price while pending” –> Sold.

Lesson learned … if you want to get the “Deal” … join them … there are many out there representing both Seller’s side and Buyer’s Side in a short sale.
Another example from the nearby hood is 1278 Mariposa .. Lost on that one too … learned the same lesson there too.

[researcher9]

To ljinvestor, Eugene et al,
Sorry guys, with all due respect … I think you are wrong on this. I hate to break your enthusiasm, but 6721 Camphor is not a deal/steal but a FRAUD. I dont say it as my opinion … I present to you the Hard Data.
This one is pretty close to me, as I have been trying to buy on Ocean View side of that street/hood for the past 2+ years … There is nothing under a Million there. Its the best part of 92011 … better than Bay Collection and most of Aviara.
Here is the Hard Data …
6744 is not a Comp to this one as it’s on Non-View side at a much lower street. Not even in the same hood.
Same goes for 1202 Mariposa.
Difference in View side (West) and Non-View side (East) on Camphor and Barberry is 200-300K+.
If you want to see the True Comps … watch out for 6707 Barberry (Sit Down Pano Ocean views but still not as great as they are from the Camphor Pl). Listed for 1.4 Million on Dec 12 and went pending in just 2 weeks. That computes to $421/sqft.
Another possible Comp is 1278 Veronica sold for 1 Million+ in May 2010 at $301/sqft. Again not a True Comp but can be considered.
Remember Ocean View Properties can not be Comped with Non-Ocean View … why .. Because I am trying to buy one for $850k for the past 2+ years and could not find anything decent in 92011.
Back to 6721 Camphor … called the Listing Agent (who btw also happens to be some RE Legal/Attorney type) … Wanted to put in the offer but was told “already accepted and locked one in … Not accepting any backup offers” … Reminded her that it’s not ethical to represnt both sides while shorting the bank, neighbourhood and other potential buyers. Was told in a lawyer speak …. “Its OK to do it by Law and legally an agent can represent both sides … Ethics are well Non-technical stuff and its nice to have those too”.

How many times have you seen a deal that looks like this …

Active -> Contigent -> Pending –> “Changed Price while pending” –> Sold.

Lesson learned … if you want to get the “Deal” … join them … there are many out there representing both Seller’s side and Buyer’s Side in a short sale.
Another example from the nearby hood is 1278 Mariposa .. Lost on that one too … learned the same lesson there too.

[researcher9]

To ljinvestor, Eugene et al,
Sorry guys, with all due respect … I think you are wrong on this. I hate to break your enthusiasm, but 6721 Camphor is not a deal/steal but a FRAUD. I dont say it as my opinion … I present to you the Hard Data.
This one is pretty close to me, as I have been trying to buy on Ocean View side of that street/hood for the past 2+ years … There is nothing under a Million there. Its the best part of 92011 … better than Bay Collection and most of Aviara.
Here is the Hard Data …
6744 is not a Comp to this one as it’s on Non-View side at a much lower street. Not even in the same hood.
Same goes for 1202 Mariposa.
Difference in View side (West) and Non-View side (East) on Camphor and Barberry is 200-300K+.
If you want to see the True Comps … watch out for 6707 Barberry (Sit Down Pano Ocean views but still not as great as they are from the Camphor Pl). Listed for 1.4 Million on Dec 12 and went pending in just 2 weeks. That computes to $421/sqft.
Another possible Comp is 1278 Veronica sold for 1 Million+ in May 2010 at $301/sqft. Again not a True Comp but can be considered.
Remember Ocean View Properties can not be Comped with Non-Ocean View … why .. Because I am trying to buy one for $850k for the past 2+ years and could not find anything decent in 92011.
Back to 6721 Camphor … called the Listing Agent (who btw also happens to be some RE Legal/Attorney type) … Wanted to put in the offer but was told “already accepted and locked one in … Not accepting any backup offers” … Reminded her that it’s not ethical to represnt both sides while shorting the bank, neighbourhood and other potential buyers. Was told in a lawyer speak …. “Its OK to do it by Law and legally an agent can represent both sides … Ethics are well Non-technical stuff and its nice to have those too”.

How many times have you seen a deal that looks like this …

Active -> Contigent -> Pending –> “Changed Price while pending” –> Sold.

Lesson learned … if you want to get the “Deal” … join them … there are many out there representing both Seller’s side and Buyer’s Side in a short sale.
Another example from the nearby hood is 1278 Mariposa .. Lost on that one too … learned the same lesson there too.

[researcher9]

To ljinvestor, Eugene et al,
Sorry guys, with all due respect … I think you are wrong on this. I hate to break your enthusiasm, but 6721 Camphor is not a deal/steal but a FRAUD. I dont say it as my opinion … I present to you the Hard Data.
This one is pretty close to me, as I have been trying to buy on Ocean View side of that street/hood for the past 2+ years … There is nothing under a Million there. Its the best part of 92011 … better than Bay Collection and most of Aviara.
Here is the Hard Data …
6744 is not a Comp to this one as it’s on Non-View side at a much lower street. Not even in the same hood.
Same goes for 1202 Mariposa.
Difference in View side (West) and Non-View side (East) on Camphor and Barberry is 200-300K+.
If you want to see the True Comps … watch out for 6707 Barberry (Sit Down Pano Ocean views but still not as great as they are from the Camphor Pl). Listed for 1.4 Million on Dec 12 and went pending in just 2 weeks. That computes to $421/sqft.
Another possible Comp is 1278 Veronica sold for 1 Million+ in May 2010 at $301/sqft. Again not a True Comp but can be considered.
Remember Ocean View Properties can not be Comped with Non-Ocean View … why .. Because I am trying to buy one for $850k for the past 2+ years and could not find anything decent in 92011.
Back to 6721 Camphor … called the Listing Agent (who btw also happens to be some RE Legal/Attorney type) … Wanted to put in the offer but was told “already accepted and locked one in … Not accepting any backup offers” … Reminded her that it’s not ethical to represnt both sides while shorting the bank, neighbourhood and other potential buyers. Was told in a lawyer speak …. “Its OK to do it by Law and legally an agent can represent both sides … Ethics are well Non-technical stuff and its nice to have those too”.

How many times have you seen a deal that looks like this …

Active -> Contigent -> Pending –> “Changed Price while pending” –> Sold.

Lesson learned … if you want to get the “Deal” … join them … there are many out there representing both Seller’s side and Buyer’s Side in a short sale.
Another example from the nearby hood is 1278 Mariposa .. Lost on that one too … learned the same lesson there too.

[researcher9]

To ljinvestor, Eugene et al,
Sorry guys, with all due respect … I think you are wrong on this. I hate to break your enthusiasm, but 6721 Camphor is not a deal/steal but a FRAUD. I dont say it as my opinion … I present to you the Hard Data.
This one is pretty close to me, as I have been trying to buy on Ocean View side of that street/hood for the past 2+ years … There is nothing under a Million there. Its the best part of 92011 … better than Bay Collection and most of Aviara.
Here is the Hard Data …
6744 is not a Comp to this one as it’s on Non-View side at a much lower street. Not even in the same hood.
Same goes for 1202 Mariposa.
Difference in View side (West) and Non-View side (East) on Camphor and Barberry is 200-300K+.
If you want to see the True Comps … watch out for 6707 Barberry (Sit Down Pano Ocean views but still not as great as they are from the Camphor Pl). Listed for 1.4 Million on Dec 12 and went pending in just 2 weeks. That computes to $421/sqft.
Another possible Comp is 1278 Veronica sold for 1 Million+ in May 2010 at $301/sqft. Again not a True Comp but can be considered.
Remember Ocean View Properties can not be Comped with Non-Ocean View … why .. Because I am trying to buy one for $850k for the past 2+ years and could not find anything decent in 92011.
Back to 6721 Camphor … called the Listing Agent (who btw also happens to be some RE Legal/Attorney type) … Wanted to put in the offer but was told “already accepted and locked one in … Not accepting any backup offers” … Reminded her that it’s not ethical to represnt both sides while shorting the bank, neighbourhood and other potential buyers. Was told in a lawyer speak …. “Its OK to do it by Law and legally an agent can represent both sides … Ethics are well Non-technical stuff and its nice to have those too”.

How many times have you seen a deal that looks like this …

Active -> Contigent -> Pending –> “Changed Price while pending” –> Sold.

Lesson learned … if you want to get the “Deal” … join them … there are many out there representing both Seller’s side and Buyer’s Side in a short sale.
Another example from the nearby hood is 1278 Mariposa .. Lost on that one too … learned the same lesson there too.

[Author]

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