Real Estate Awards (Mega Schadenfreude) |
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| Posted: 18 March 2008 03:46 PM |
[ Ignore ]
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Living with Parents
Total Posts: 147
Joined 2007-09-13
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After seeing this property I became compelled to give them an award:
Days on market: 211
I’m sure everyone has an award or two to give out so lets see ‘em. |
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| Posted: 18 March 2008 04:41 PM |
[ Ignore ]
[ # 1 ]
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Moderator
Total Posts: 3607
Joined 2007-01-28
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ROFL! Oh this should be a good thread. I will be back to post here for sure. |
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| Posted: 18 March 2008 05:16 PM |
[ Ignore ]
[ # 2 ]
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McMansion
Total Posts: 1500
Joined 2007-08-08
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Nice use of the logo! Can you edit the pic so it links to the redfin listing? |
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| Posted: 19 March 2008 12:22 AM |
[ Ignore ]
[ # 3 ]
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Starter Home
Total Posts: 857
Joined 2007-07-26
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Oh, I’ve found a few of these. I’ll post back when I get a chance. |
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| Posted: 19 March 2008 12:43 AM |
[ Ignore ]
[ # 4 ]
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Custom Estate
Total Posts: 2021
Joined 2007-09-19
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Listing Price History
<thead>
Date
Price
</thead>
Feb 22, 2007
$1,599,000
Mar 01, 2007
$1,499,000
May 04, 2007
$1,349,000
Jul 21, 2007
$1,299,000
Nov 07, 2007
$1,249,000
Feb 27, 2008
$1,149,000
That pesky Santiago fire last year took some of the shine off Modjeska Canyon…
http://www.redfin.com/stingray/do/printable-listing?listing-id=539756
[ Edited: 19 March 2008 01:25 AM by ipoplaya ]
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| Posted: 19 March 2008 12:53 AM |
[ Ignore ]
[ # 5 ]
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McMansion
Total Posts: 1619
Joined 2007-10-13
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I’m just a poor ole Floridian, but those prices, even as they stand now, seem to me to be out in orbit somewhere. |
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| Posted: 19 March 2008 02:52 AM |
[ Ignore ]
[ # 6 ]
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Starter Home
Total Posts: 857
Joined 2007-07-26
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For your consideration: a $300K nosedive in asking price and 303 DOM. (Psst! It’s also a 29% loss!)
17552 Medford AVE
Tustin, CA 92780
Price: $550,000
$/Sq. Ft.: $227
Beds: 4
Baths: 3
Sq. Ft.: 2,425
Lot Size: 7,205 sq. ft.
Sale History:
May 16, 1991 $300,000
Apr 06, 2005 $780,000
Listing Price History
Jun 02, 2007 $850,000
Jun 30, 2007 $815,000
Jul 22, 2007 $799,900
Jul 31, 2007 $790,000
Sep 25, 2007 $782,000
Oct 04, 2007 $780,000
Oct 09, 2007 $760,000
Oct 31, 2007 $740,000
Feb 10, 2008 $550,000
http://www.redfin.com/stingray/do/printable-listing?listing-id=800834
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| Posted: 19 March 2008 03:25 AM |
[ Ignore ]
[ # 7 ]
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Living with Parents
Total Posts: 147
Joined 2007-09-13
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Nude,
I can’t edit the post, but here is the redfin link:
http://www.redfin.com/stingray/do/printable-listing?listing-id=1065199 |
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| Posted: 19 March 2008 03:43 AM |
[ Ignore ]
[ # 8 ]
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Living with Parents
Total Posts: 147
Joined 2007-09-13
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www.redfin.com/stingray/do/printable-listing
This condo is nearby to where I live at east woodbridge lake. Mostly elderly people and small white dogs with screeching barks live there. Not an attractive area for younger or middle aged folks.
Assuming we finance this property with nothing down:
Results
		 			 				 					 					 				 				 					 					 				 				 					 					 				 				 					 					 				 			
$869,900.00
Purchase Price
$0.00
0% Downpayment
$869,900.00
Mortgage
$1,109,509.51
Interest Paid over the Life of Mortgage
			 			
Monthly Cost Breakdown
			 				 					 					 				 				 					 					 				 				 					 					 				 				 					 					 				 				 					 					 				 				 					 					 				 				 					 					
$5,498.36
Monthly Mortgage Payment @ 6.5%
$724.92
Property Taxes @ 1%
$181.23
Homeowners Insurance @ 0.25%
$0.00
Special Taxes and Levies @ 0%
$333.00
Homeowners Associate Dues or Fees
$1,087.38
Maintenance and Replacement Reserves @ 1.5%
$7,824.88
Total Monthly Cash Outflow
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| Posted: 19 March 2008 03:43 AM |
[ Ignore ]
[ # 9 ]
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Living with Parents
Total Posts: 147
Joined 2007-09-13
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continued…
Assuming we put 20% down:
Results
		 			 				 					 					 				 				 					 					 				 				 					 					 				 				 					 					 				 			
$869,900.00
Purchase Price
$173,980.00
20% Downpayment
$695,920.00
Mortgage
$887,607.60
Interest Paid over the Life of Mortgage
			 			
Monthly Cost Breakdown
			 				 					 					 				 				 					 					 				 				 					 					 				 				 					 					 				 				 					 					 				 				 					 					 				 				 					 					
$4,398.69
Monthly Mortgage Payment @ 6.5%
$724.92
Property Taxes @ 1%
$181.23
Homeowners Insurance @ 0.25%
$0.00
Special Taxes and Levies @ 0%
$333.00
Homeowners Associate Dues or Fees
$1,087.38
Maintenance and Replacement Reserves @ 1.5%
$6,725.21
Total Monthly Cash Outflow
Assuming somebody has mounts of equity from their former residence and puts 50% down:
Results
		 			 				 					 					 				 				 					 					 				 				 					 					 				 				 					 					 				 			
$869,900.00
Purchase Price
$434,950.00
50% Downpayment
$434,950.00
Mortgage
$554,754.75
Interest Paid over the Life of Mortgage
			 			
Monthly Cost Breakdown
			 				 					 					 				 				 					 					 				 				 					 					 				 				 					 					 				 				 					 					 				 				 					 					 				 				 					 					
$2,749.18
Monthly Mortgage Payment @ 6.5%
$724.92
Property Taxes @ 1%
$181.23
Homeowners Insurance @ 0.25%
$0.00
Special Taxes and Levies @ 0%
$333.00
Homeowners Associate Dues or Fees
$1,087.38
Maintenance and Replacement Reserves @ 1.5%
$5,075.70
Total Monthly Cash Outflow
How many elderly people do you know with this kind of cash flow? |
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| Posted: 19 March 2008 04:55 AM |
[ Ignore ]
[ # 10 ]
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Homeless Newbie
Total Posts: 35
Joined 2007-03-28
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previous()“] previous()“]Previous
1 of 20
next()“]Next next()“]
16636 SONORA DRIVE, Tustin, CA 92782
He has been trying to sell this for over a year
Price Reduced: 09/20/07—$995,000 to $970,000
Price Reduced: 10/04/07—$970,000 to $949,800
Price Reduced: 10/20/07—$949,800 to $930,000
Price Reduced: 03/15/08—$930,000 to $899,800
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| Posted: 19 March 2008 05:23 AM |
[ Ignore ]
[ # 11 ]
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IAC Rental
Total Posts: 178
Joined 2007-05-04
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boomben,
I think that house used to be next to the railroad tracks in Arkensas…...it was a crack house as I remember it. |
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| Posted: 19 March 2008 07:23 AM |
[ Ignore ]
[ # 12 ]
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Moderator
Total Posts: 2751
Joined 2007-01-02
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Priced_Out_IT_Guy,
Can you email me those images? I will use them on the main blog. |
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| Posted: 19 March 2008 01:21 PM |
[ Ignore ]
[ # 13 ]
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McMansion
Total Posts: 1208
Joined 2007-06-13
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Just terrible. I wonder what’s going on with their financing. Reset dates fast approaching? |
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| Posted: 19 March 2008 01:32 PM |
[ Ignore ]
[ # 14 ]
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Condo
Total Posts: 484
Joined 2007-05-03
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Oh we are hitting the high end? OK try this one on for size..nothin like carrying a 2.9 million dollar mortgage for 481 days and lowering your price (and expectations of profit) over 1.5 million dollars…that’s gonna leave a mark
http://www.redfin.com/stingray/do/printable-listing?listing-id=468908
Price: $3,250,000
On Redfin:
481 days
Listing Price History
<thead>
Date
Price
</thead>
Jan 29, 2007
$4,800,000
Feb 03, 2007
$4,299,000
Mar 16, 2007
$4,199,000
Jul 31, 2007
$3,999,000
Oct 26, 2007
$3,550,000
Jan 14, 2008
$3,250,000
<thead>
Date
Price
Appreciation
</thead>
Jun 19, 2002
$1,800,000
—
Apr 02, 2004
$2,500,000
20.2%/yr
Jul 16, 2004
$2,900,000
67.6%/yr
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| Posted: 19 March 2008 01:43 PM |
[ Ignore ]
[ # 15 ]
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Starter Home
Total Posts: 966
Joined 2007-07-17
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The high end is utterly disgusting. When you’re not watchin’ American idol one night, take a look at redfin.com. Search for properties between 2-5 million in OC. When you see the recent sales prices you will have a myocardial infarction.
I think in some ways the high end was inflated the most. The people who were making tons of money and had poor saving habits bought these places hoping to get super duper rich. A 20% gain on a million dollar property is 200,000 where a 10% gain on a 500k place is only 100,000. Big difference in $$$ amount.
Considering the insane leverage abilities (100% financing), the belief that real estate always goes up, and the high end is immune, the high priced properties went to the moon. The posers and speculators have been driven out of the market. The smart people who actually have big bucks are sitting on the sidelines. It’s only down from here! |
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| Posted: 19 March 2008 01:46 PM |
[ Ignore ]
[ # 16 ]
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Starter Home
Total Posts: 966
Joined 2007-07-17
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This took all of 10 seconds to find…..
purchased 1.2 mil 2002
Now asking 2.2 mil
http://redfin.com/stingray/do/printable-listing?listing-id=949755
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| Posted: 19 March 2008 01:50 PM |
[ Ignore ]
[ # 17 ]
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Custom Estate
Total Posts: 2021
Joined 2007-09-19
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Screw Idol. I’m enjoying Super Nanny right now… Makes me feel like Super Parent!
239 properties priced over $1M right now in Irvine. That’s a fourth of the friggin’ inventory. I think we definitely could have a top down driven decline in Irvine. [ Edited: 19 March 2008 01:52 PM by ipoplaya ]
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| Posted: 19 March 2008 01:57 PM |
[ Ignore ]
[ # 18 ]
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Condo
Total Posts: 484
Joined 2007-05-03
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What the hell LM this guy can’t make up his mind what this house is worth. If you graph his price history it lools like a heartbeat. But also it is in Newport Coast and nothng there is under a mil these days.
Jul 12, 2007
$2,495,000
Aug 25, 2007
$2,295,000
Aug 25, 2007
$2,495,000
Aug 25, 2007
$2,295,000
Sep 05, 2007
$2,200,000
Nov 03, 2007
$2,225,000
Dec 19, 2007
$2,299,000
Jan 14, 2008
$2,295,000
Feb 17, 2008
$2,290,000
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| Posted: 19 March 2008 02:08 PM |
[ Ignore ]
[ # 19 ]
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Starter Home
Total Posts: 966
Joined 2007-07-17
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OMG look at this!
Purchased 12/30/2004 for $956,000
Listed at $2,895,000!! On the market for eight months!
That means from the time the home was purchased to the time it was listed was only 2 1/2 years!
This nincompoop is looking for a payday of $1,939,000 in only 30 months. WTF? Why even work? You could have refinanced one time and lived off the tax-free cash and lived like a king.
http://redfin.com/stingray/do/printable-listing?listing-id=994997
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| Posted: 19 March 2008 02:12 PM |
[ Ignore ]
[ # 20 ]
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Condo
Total Posts: 484
Joined 2007-05-03
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LM if you really want to see some smoke punch in 92624 on redfin and look along beach road. Shacks that were bought for 150,000 are asking 3-5 million and more…too much smoke down there in Capo |
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| Posted: 25 March 2008 06:25 AM |
[ Ignore ]
[ # 21 ]
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Starter Home
Total Posts: 613
Joined 2007-09-13
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In Nellie Gail:
[url=“http://i-0.rfimg.us/photo/46/bigphoto/980/S482980_0.jpg"target=“_blank” ]
[/url] Asking price history:
						Apr 10, 2007 					
					
						$1,924,900 					
				
			 				
					
						Apr 27, 2007 					
					
						$1,899,900 					
				
			 				
					
						May 19, 2007 					
					
						$1,889,900 					
				
			 				
					
						Jun 01, 2007 					
					
						$1,879,900 					
				
			 				
					
						Jun 07, 2007 					
					
						$1,849,900 					
				
			 				
					
						Sep 25, 2007 					
					
						$1,749,900 					
				
			 				
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