[sdcellar]

Well, he certainly can’t be faulted for that. I’m curious though, does he comment on any of this, or just send you automated listings?

The property I’m talking about is in Santaluz. Originally listed in May for $1.1-$1.25, went to fixed pricing of $1.155 and continued to lower to $1.095. It relisted at $1.15.

Funny how these properties are somehow worth $25-50 kilobucks more all of a sudden…

I’d have noticed your CV listing as well, but my wife says I’m not allowed to track any more areas! (even though we’ve expanded our search to include CV. She must not be serious about it…)

[sdcellar]

WHen my agent sent a new listing the other day, I knew right away it was a re-list, with different picture & higher price. So at least for me, those schemes didn’t work.

This is the kind of thing the agent should be pointing out to their clients. If it were my agent, I’d let them make this mistake exactly one time and for that one time, they better have a good explanation.

I just saw another one of these re-listings today as well that had the added bonus of a higher price (and it’d only been on the market a little over 8 months). Definitely seems to be a bit of a new trend. I’m annoyed with seller’s agents who pull this kind of thing, but I’d be downright pissed off at my buyer’s agent if they didn’t advise me of it.

[sdcellar]

taxes are guaranteed

Yes they are. Just don’t forget the property taxes and Mello-Roos. Not such a great deal when you’ve got to pay additional taxes to get your tax break.

[sdcellar]

…and so nice of him to be subsidizing it. :-O

[sdcellar]

gn–

Density’s a tough call, but I’d say so far it’s generally more dense due to the generally smaller lot sizes. It doesn’t look too bad, but they’ve still got a lot of building to do. I looked at the master plan a while ago though and I seem to recall that they will have a significant percentage of smaller lots (< 5000 sq. feet)

Yards are generally smaller than in 4S Ranch. Small fronts and small backs. In 4S, it seems like a lot of places at least have one or the other. I have noticed that some of the newer places in 4S seem to be tending toward smaller yards as well however.

Arrogant sales people– It’s like any other place, some are arrogant, some are nice, some are great, some suck. Depends on who you get and the day you come by. I can tell you that they’ve had some turnover. For one development it helped, for another, it was just a different bad sales person.

[sdcellar]

Did they make it bigger? Zillow has it as a 2/2, 1064 sq. feet. That’s a pretty fast sale/rehab/sale in this market. Something’s going on, just not sure what. Zillow lists some screwy stuff sometimes.

[sdcellar]

When I see a range listing like that, I’m still pretty sure they want the $649K and have the low range there just to attract offers (ahh the idiotic brilliance of range pricing).

Since it’s possible that they put down $30-120K in the first place (probably the lower of the two), they might have some room to avoid bringing cash to closing. Even so, a tough loss to swallow.

If they really had to come up with $100K, that would sound tough, but I guess it depends on their circumstances. They might or might not have that kind of cash (or equity) somewhere. This listing seems to have signs of RE “investor” idiocy, but there could be more to it.

[sdcellar]

FSD– Der… of course. Guess I was so pleased with the opportunity to make bad jokes, I didn’t take the time to get my history straight. Probably just the humor-center of my brain protecting its turf, lest the joke be squelched. Or at least that’s what I’m running with.

Interesting, your experience with an appraiser. I had a similar circumstance, but the appraiser went ahead and did it, just considered it a one-bathroom place. Of course, that brought the appraisal down, but I didn’t care as it was still high enough to qualify for the lower interest rate loan we were trying to get.

Still seemed like a pretty significant hit (even though it didn’t really matter). Certainly more than the cost to finish the work.

[sdcellar]

Jamestown, how appropriate. You’d have to be drinking Kool-Aid to buy that dump. It may be a $200K haircut, but I’d say it’s still pretty shaggy and got a lot more trimming in store.

[sdcellar]

Yep, I think we may have run her off (us hooligans, that is). I can only speak for myself, but I enjoy much of what she has to say, so it’d be nice if she were to get back into the mix.

[sdcellar]

Next in Line, Please consider what no_such_reality is trying to tell you.

Also keep in mind who the article was written by: Don Taylor, Bankrate.com. It’s just possible he might have somebody elses interest in mind (ever so slight pun intended).

Find some real borrowers using this program and I’m confident you’ll find that it actually ended up costing them money.

[sdcellar]

jztz– Nice post with the cognitive dissonance piece. I assume you’ve considered that the NY Times might provide lefties with what they need and Fox News the same for righties?

The interesting thing about the NYT article you posted is that it has bits that both Princeton and Dartmouth alumni can latch on to, and the left and right for that matter. I assume you didn’t consider it a shining beacon of “truth”.

[sdcellar]

Thanks for sharing your experience, calidesigner. I’ve never really put a lot of thought a lot of thought into the emotional and pyschological effects of a downturn on those who can “afford” to stick with the property they’ve decided to purchase in the face of a prolonged decline.

Something to consider for those of us who think we just need to run the numbers and make sense out of those. I know I really hadn’t considered being “priced in forever” (or at least a long time).

[sdcellar]

kaycee– Sure, it appears to be fairly high margin adjustable rate loan, at least according to what they present in their simulator. It brings the effective interest rate about a percent higher than the conventional loan you would be transferring over.

Given that rates are considered to be at historic lows, the rate is most likely to increase in the future which presents tremendous downside potential.

[sdcellar]

Here’s the first part of Del Sur’s. Curiously no mention of West Rancho Bernardo or Rancho Penasquitos, which are actually closer than RSF and Fairbanks Ranch. And I was never aware of La Jolla valley until this came along..

Few American cities have a more idyllic story to tell than San Diego. Here, amid the gently rolling hills of La Jolla Valley, historic hideaways like Fairbanks Ranch and Rancho Santa Fe found their roots. Spanish “silver dons” and vaqueros rode the dusty trails on Black Mountain Ranch.

[Author]

Posts