kaulat

Here they are, in alphabetical order. Some of these have seller concessions/points paid but that is insider information and I will only report what is public knowledge that you can get for yourself through www.ongov.net . I just tidy it up a bit. 36 Calemad $412,000 3067 East Lake Road $1,700,000 884 West Elizabeth Street $155,000 18 Goodspeed Place $365,000 25 Griffin Street $229,000 1552 Heifer Road $350,000 3930 Jordan Road $220,000 4671 Jordan Road $114,500 52 Jordan Street $375,000 2179 West Lake Road $300,000 12 Lakeview Circle $460,000 4076 Mill Road $60,000 1002 Mistletoe Drive $200,000 1675 New Seneca Turnpike $165,000 11 Onondaga Street $475,000 104 Orchard Road $572,164 1687 Russells Landing $525,000 1416 Thornton Heights Road $198,250 4740 Vinegar Hill Road $180,450 3373 West Lake Street $700,000 There they are, as requested! Please let me know if this is worthwhile to you. And yes, you will notice that "Skaneateles" is l...

Thank you all for being so patient. The last two days I've spent in Watertown, driving up for a 9:00 class and returning to show houses in the evening. Late evening. Watertown, for those of you who don't know, is about 90 miles due north up Route 81. The drive was spectacular each morning - rolling hills, very little traffic, and that early sunshine and low-lying fog. I was there for the core class for my Green designation. It fits with my lifestyle and concerns, so I am bringing my business into alignment, too. As of yesterday, there were 138 active listings in the Skaneateles area as defined by the multiple listing service. Seven new listings came on over the past week - 2 in new construction, 2 waterfront properties, 2 re-lists at different prices (lower), and one brand new listing. Four - count them! - single family residences "sold" in the past week. Wow! My fabulous fixer-upper (not mine, but I loved the possibilities) out on Nunnery is marked contingen...

Remember these next of kin trying to cash in on their dead relative shuffling off this mortal coil? The little weasels have cut the price twice since we last checked in, totalling $75,000 in reductions. However, $399,000 (reduced from an original $499,000) still represents a logic-flattening $639 per square foot! Here is the updated info: Address: 535 Grand Ave, 90814 Asking Price: $474,000 Year Built: 1920 Size: 1 beds, 1 baths, 624 sq. ft. $/Sq. Ft.: $639 Purchase price: N/A Purchase date: N/A MLS#: P662564 On Redfin: 183 days Down Payment: $80,000 (from $95,000) Monthly Payment: $2,100 (from $2,600) Income Requirement: $114,000 (from $135,000) Description: Charming 1 bedroom, 1 bath California Bungalow in fantastic Belmont Heights corner location. Great opportunity to own a single family residence in prestigous Belmont Heights for around the price of a condo. Close to the ocean, shopping, restaraunts and transportation. How is being located on the corner of a busy four-way stop int...

"Blessed are the flexible because they won't get bent out of shape." New appraisal rules take afect May 1st - no one talks to the appraiser! He or she is hired through an appraisal management company. Do you think they'll raise the cost? Binghamton used its stimulus money to buy 6 new hybrid buses. Why? They are built in Johnson City! Check this out: www.walkability.com It will give you an idea of how "walkable your neighborhood, or where you are buying, really is. (I haven't tried it yet.)

Today - Tuesday - I'm up in Watertown at the Jefferson-Lewis Board of realtors taking a class in "Green" Real Estate. It's a two day course that will lead to a designation - one of those things that shows you I am an expert. I won't be, but I'll be ahead of the curve, as they say. 12:30 So while I wait for class to begin again, I'll write a bit. From the morning I remember our discussion about what we do differently - green - in our homes. Not surprisingly, several women were from Ithaca. One of them composts dog poop for use on her flowers - can't wait to tell Bob and Boo! Another gave her husband a worm farm for Christmas, and now they compost instead of throw out leftover veggies, etc. Another high point was Velux solar tubes. Get sunshine into your home! Only $700 installed. Food for thought from the instructor: "List them high, watch them die. List them low, watch them go." Check tax bills when buying a home. Sometimes they inc...

Another idiotic e-mail from ZipRealty: Dear El Bee, According to a recent Market Watch [sic] article, the shift in the housing market that we'e [sic] all been expecting has finally happened: home prices are on the rise for the first time in a year. That means that if you're thinking about buying a home (and I know you are!), it may be better to act sooner, rather than later. There are a lot of fantastic homes in your price range that I'd love to show you - just let me know of a good day and time, and I'll happily set up viewing appointments. Read the full Market Watch [sic] article here: http://www.ziprealty.com/EH/8tr843bz/47454/152724/30/146249 Talk to you soon, [SoCal ZipRealty Agent] Translation: BUY NOW OR BE PRICED OUT FOREVER!!! Not only did ZipRealty recently call the bottom, but now they've got the brass balls to actually call the recovery ! The funniest part is, the person who sent this e-mail CLEARLY did not read the very article she was so quick to cite ...

When my husband, Bob, was a young man just starting out in business in Syracuse he lived in an apartment house on the east side. There he met a little kid, 8 or so at the time, who looked up to him. Bob took Jose camping in the Adirondacks, they took karate classes together, and Bob generally became an older brother/father figure to him. Jose and his mother and sisters moved to Florida before his graduation from high school. Over the years he and Bob lost touch. A few years ago we ran into Jose's sister, Cynthia, at St. Camillus where my mother was a patient. She told him how to contact Jose and the friendship was renewed. Jose had gone to college in St. Louis on a football scholarship. After that he went into business as a private detective and took classes towards his Master's. He was divorced, but had two little boys whom he saw a lot. He took them to visit their grandmother in Florida with his ex-wife's blessing. His volunteer work involved working with kids i...

Address: 4649 E 4th St. #16, 90814 Asking Price: $449,000 Year Built: 1985 Size: 2 beds, 2 baths, 1,401 sq. ft. $/Sq. Ft.: $320 HOA Fee: $390 (!) Purchase price: $560,000 Purchase date: 10/2005 MLS#: P683862 On Redfin: 10 days Down Payment: $90,000 Monthly Payment: $2,700 Income Requirement: $128,000 Description: This 2 bedroom & 2 bath gorgeous condo is a must see. Turn key pride of ownership. Foyer entry, to gorgeous distressed wood floors throughout. The entire home has been remodeled with exquisite taste. Chandeliers throughout the home. Mahogany fireplace. New Kenmore appliances. In wall safe. Tumble marble flooring in bedroom and bathroom. Yeah, but does it have a chandelier above the toilet like this guy ? I didn’t think so. Er, well, actually, close enough: And what's up with the sink in this (cluttered, messy) bathroom? Is that another toilet? It looks like the Stay Puft Marshmallow Man's hemorrhoid pillow: The most significant aspect of this apartment is the 2002 ...

Sitting in the airport drinking coffee, making friends with old ladies, reading the newspaper (I know--so retro!) and all of a sudden I see the Orange County Register just called the bottom: After two consecutive months of price gains, Orange County's housing market may have bottomed out. But with home-default figures hitting a record high in March, it's clear that a new wave of distressed sales are headed to market. [And? And?! Spell it out for us, OCR. Draw the obvious conclusion: With the amount of distressed inventory about to hit the market, this is most assuredly not the bottom. I mean, how can your lede be "we may have bottomed out," followed by a line immediately refuting your claim? Oy.] ... But DataQuick analyst John Karevoll observed that it's not likely that the median will go below January's low-water mark. "In the world of likelihoods, I think we have seen the price bottom," Karevoll said. "But that's a statistical change only...

So, remember in 2007 when the worst in the housing "correction" was supposedly behind us? Ah, those were the days. Treasury Secretary Paulson came out in April and said subprime wouldn't spread to other parts of the economy, specifically stating: "I don't see (subprime mortgage market troubles) imposing a serious problem. I think it's going to be largely contained," he added. Um. Oops? In 2007 we also had commission-driven real estate "professionals" buying into that Pollyanna bullshit and slinging nasty comments on this blog, venomously ridiculing my attempts to educate people about the truth and warn them about the housing crash already underway. Sadly, based on advice from real estate "experts," many people in 2007 bought overpriced properties because, according to those with a vested financial interest to say so, "Now is a great time to buy" just as values were starting to fall. And the results for many 2007 buyers will ...

You took my advice and did buy a house or two this week - thank you! So I don't forget: Thursday evening is our mortgage discussion and learning session with John pettrus from Key Bank. It will be held at 3862 Highland Avenue, which of course just happens to be on the market and listed by me, from 7:00 to 8:00. Please come! John will be talking about more than just the new homebuyers' tax credit. He'll answer your questions about everything - well, almost everything! There are currently 134 listings in the Skaneateles area as defined by the multiple listing service. Six new ones came on the market in the past week and there is something for everyone. If you like small camps there's one out there for under $350,000, complete with its own independent toilet. More room needed? Try the waterfront with 1300 sf and almost twice the price. If you'd rather build, close to the village, Butters Farm now has a home under $400,000 - 3 bedrooms, but the prices have ch...

This New York Times article has been making the rounds, and I strongly suggest reading it from top to bottom: The Bottom for Housing is Probably Not Near As is often the case at these auctions, the seller of the condo — Fannie Mae — retained the right to refuse the winning bid and keep the property. But Mr. Houtkin told me he was optimistic his bid would be accepted. An R.E.D.C. employee suggested to him that $30,000 wasn’t much below the minimum price that Fannie Mae had hoped to receive. How could that be? Because Fannie Mae, like many banks, is inundated with foreclosed properties. In recent weeks, banks have begun accelerating foreclosures again, after having held off while waiting to find out which homeowners would be eligible for the Obama administration’s assistance program. The glut of foreclosed homes creates a self-reinforcing cycle. Falling prices lead to more foreclosures. Foreclosures lead to an excess supply of homes for sale. The excess supply then leads to further pric...

Old ass building? Check. Community laundry? Check. Insta-upgrades? Check. Ridiculous HOA considering the lack of amenities? Check. Delusional greedtard with a What The Fuck asking price? Check! WELCOME TO LONG BEACH, Y'ALL! Address: 3665 E 1st St #302, 90803 Asking Price: $499,900 Year Built: 1972 Size: 2 beds, 2 baths, 1,034 sq. ft. $/Sq. Ft.: $483 HOA Fee: $278 Purchase price: $330,000 Purchase date: 2/2004 MLS#: S569421 On Redfin: 21 days Down Payment: $100,000 Monthly Payment: $2,800 Income Requirement: $143,000 Description: This upscale corner unit is located on a lovely tree-lined street a block-and-a-half from the beach in charming Belmont Heights. It's a short stroll to Belmont Pier, Olympic Pool, and the trendy shops of Second Street. It has large bright windows and a nice balcony for enjoying the ocean breezes. Priced to sell, with over $60,000 worth of upgrades including maple kitchen cabinets with storage pullouts, granite countertops in the kitchen and baths, a cu...

In this post from October , I predicted the $190,000 asking price would require significant cutting to interest an investor. Specifically, I posited that even $166,000 still wouldn't be enough to lure a buyer. At the time my reasoning was: If you take the December 2001 sales price of $126,500 and calculate a 4% annual appreciation rate, today this condo would be valued at $166,000. However, at $166,000--a discount of $24,000--the monthly payment would still exceed equivalent rent by about 100 bones (By the way, I could have started the appreciation timeline at the 2000 price of $87,000, but I didn't want to make the seller cry). Well, after eight months on the market and a little List/De-list/Re-list grab assin', here we are at $158,000 and still no dice for this short sale. For the record, if you take the pre-bubble price of $87k and compound 4% appreciation, today's value would be $124,000. Yep, that's a 2001 price. And the price that would make this place a good ...

I hate dealing with New York taxes, but after a long hard look it's necessary to come to terms with them. It's on everyone's mind, so deal we must! The latest push came from a woman I spoke with today at Mirbeau. While I was waiting, ever so briefly, for a client, we got to talking. Within three minutes - I kid you not! - the matter of assessments had come up. She stated that a friend of hers had had his property's value increased 550%! Over the weekend I talked to another man. His waterfront had gone up about 300% over the past few years to the point where he had to sell. The prospect was obviously painful and emotional for him. He still hasn't decided what to do. He's already fought the assessment in the past and brought it down some. Is it a realistic assessment? Only time on the market will tell. Another man reminded me of the taxes in other parts of the country. His gorgeous - and I do mean gorgeous! - Florida home has about a third of the taxes ...

Now that the real estate bubble has burst, there is plenty of schadenfreude to go around. Those who were priced out of the market, refused to participate in the irrational exuberance, or who didn't buy into the frenzy just out of dumb luck, are all watching with amazement (and yes, a bit of glee) as the house of cards burns to the ground. Personally, I was made to feel like a fool for not buying an overpriced house in 2005 and had to endure condescending conversations with people who barely made it out of high school but were now rolling in fake "equity" and looking down on me for being a lowly renter. And when I started this blog I was castigated further for pointing out the truth and documenting the all-too-obvious housing bubble implosion. So I have to admit that many aspects of the housing crash bring a smile to my face. Some say it's wrong to take pleasure in others' misery. In certain circumstances that's true, but that won't dissuade me from feeling...

April 16, 2009 - The status was "Active" and changed to "Contingent" Something is rotten in the state of Denmark. Let me get this straight. At the peak this apartment sold for an incredibly inflated $485,000. And three years into the worst housing crash in the history books, with Los Angeles prices crashing 40% already (25.8% of that just in the last year ), this SHORT SALE (which are always priced lower than regular sales) went contingent yesterday for only 17% off the peak price? With this kitchen? In a building with a top floor unit going contingent for $40,000 less?! Yeah, I smell horseshit. I don't think this one is going to make it out of escrow. Unless this seller found the absolute dumbest knife catcher in all of greater LA. I mean, just look at the numbers: Address: 2538 E 2nd St #107, 90803 Asking Price: $400,000 Year Built: 1976 Size: 2 beds, 2 baths, 1,347 sq. ft. $/Sq. Ft.: $297 HOA Fee: $250 Purchase price: $485,000 Purchase date: 9/2006 MLS#: P66...

A friend told me that if you bought a house this year and filed your taxes for 2008 claiming that house, a check for $8,000 would come directly to you in a few weeks. Hmmmmm. My mortgage person told me it was time to refinance , based on what rate I could get and what rate I had. I would save $173 per month! WOW! But my 700 credit score wasn't really good enough....had to get off that pesky Verizon mistake...hmmmmmm. A friend is buying a house. He bought a house before he got married and his wife never quite got on the deed, so he thought that if his wife bought a new house - first time home buyer! - they would qualify for the tax credit , but no........ There are so many questions out there that need answers! If you would like to informally ask some more or hear the answers, you are invited to spend an hour with John Petrus from Key Bank. When: Thursday, April 23rd 7:00 to 8:00 pm Where: 3862 Highland Avenue in Skaneateles (call for directions) Refreshments will be serve...

In the comments section of the most recent Volk You, Buddy! post, KatyinLBC says: Okay this is weird...shhhhh...I think they're listening! http://www.redfin.com/CA/Long-Beach/3057-Volk-Ave-90808/home/7499896 That's right. 30k price cut. Wow, just two days after my update post. By the way, type "3057 Volk Ave Greed" into Google, Yahoo or AIM search and look what site comes up first. Nice. Can you imagine what the LB real estate world would look like if sellers actually did read the Long Beach Housing Blog and heeded my advice? I guarantee one thing: Houses wouldn't sit on the market for 564 days .

I originally featured this property in June of last year . Back then a short sale had been approved at $165,000. That was after 273 days on the market. Now, at 564 days , we see that the price has been reduced a whopping 10%. Ten percent! WTF is wrong with you people? Here is the updated listing info: Address: 1833 E APPLETON St #8, 90802 Asking Price: $150,000 Size: 1 beds, 1 baths, 623 sq. ft. $/Sq. Ft.: $241 HOA Fee: $90 Purchase price: $260,000 Purchase date: 1/2006 MLS #: I07143120 On Redfin : 564 days Down Payment: $30,000 Monthly Payment: $900 Income Requirement: $43,000 Description: SPACIOUS, TURNKEY CONDO, 2ND FLOOR UNIT WITH BALCONY & PLEASENT VIEW OF PARK LIKE COURTYARD. UNIT FEATURED HARDWOOD FLOORS, & CLASSIC CERAMIC TILE, NEWER KITCHEN CABINETS, BUILT IN MICROWAVE, STOVE, DOUBLE PANE WINDOWS THROUGHOUT. EXELLENT LOCATION IN DESIRABLE ALAMITOS BEACH , JUST FEW BLOCKS FROM THE OCEAN, AND WALKING DISTANCE TO THE PARK, SHOPS, AND RESTAURANT. SELLER'S IS HIGHL...

Please read through the usual update, short and sweet, then read on for a discussion I've been having in my head for a few days, prompted by a loyal reader. Currently there are 133 active listings in the Skaneateles area of the multiple listing service. Eight new ones have been added - spring must be coming! Of the eight, only two are re-lists. One is waterfront with a new agent and a 10% reduction in price from the last listing and the second is also reduced about 10% and is in the Jordan-Elbridge school district. The six new listings are made up of two in the village (both with the number 16 - spooky!) and one in the country. The other three have waterfront and range in price from $520,000 for lake rights, albeit village, to almost one million dollars down the East side. I imagine there will be others coming on.....now how would I know that? But nothing sold this week, as evidenced by being marked contingent. And nothing new closed. I do know again at least two that are pr...

One of the first properties I ever featured on this blog has finally, mercifully sold! Click here for the (seemingly endless) series of posts: THE BOOGER CHRONICLES The original asking price was $310,000 , and long ago I predicted that would need to be cut nearly in half before the property would reach its true market value. In March of 200 friggin 8, I said: At $160,000 it might make sense as an investment property. It would have to be torn down (or maybe the Historical Society would come down on you for trying to level this 95 year-old dumpster) and rebuilt, so you have to factor in those costs as well. I'm a few months late, but here you go: Jan 5, 2009 - Sold $165,000 Come on, admit it. I'm fucking GOOD . And all I did to make that amazingly accurate prediction was consider fundamentals: Local rents, local incomes, and pre-bubble appreciation rate (It's no coincidence that a home rotting on the market FOR TWENTY THREE MONTHS only sold once the price met those fundament...

Well, it’s technically not an update because nothing has changed since last year, but I just wanted to draw to your attention that this rube still refuses to reduce the price--despite almost 400 days on the market. Great plan there, Sparky! Check out these shenanigans : Apr 11, 2009 - Relisted Mar 26, 2009 - Off Redfin Dec 04, 2008 - Listed $649,000 Dec 04, 2008 - Off Redfin Sep 06, 2008 - Listed Sep 02, 2008 - Off Redfin May 09, 2008 - Price Changed Feb 24, 2008 - Listed The unwavering delusion of Long Beach sellers is astounding. What do you want to bet that each of those "Off Redfin" entries represents a listing agent getting fired? "Reduce the price?! How dare you! I'm not going to give the thing away ! If you're not going to help me find a buyer to overpay for my 'investment' then I'll find someone who will!" The saddest thing about this listing is that after a full year on the market, we have yet to see a photo of any of the ...

Psst! Wanna see a dirty picture? No, not that one. This filthy portrait of greed, delusion, and desperate market chasing: Feb 24, 2009 Price Changed $274,000 Mar 12, 2009 - Price Changed $239,000 Feb 24, 2009 - Price Changed $274,000 Jan 03, 2009 - Price Changed $279,000 Dec 19, 2008 - Price Changed $299,000 Dec 04, 2008 - Price Changed $329,000 Nov 24, 2008 - Price Changed $350,000 Oct 07, 2008 - Listed $404,000 Jan 23, 2004 - Sold $367,000 Mar 30, 1999 - Sold $135,000 Sep 14, 1998 - Sold $70,000 Oct 03, 1997 - Sold $122,325 Jul 31, 1992 - Sold $120,000 Yikes, what a sordid tale. As you can clearly see, in early 2004 our seller purchased the duplex for an astounding $367,000. That's $232,000 more than the previous owner paid just five years earlier (23.1% appreciation per year!). Then, after a few years of crime, deadbeat tenants, constant maintenance calls (a likely result of perpetually-deferred maintenance), and incessant headaches, our seller finally got fed up and in October ...