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**UPDATE: The always-observant KatyinLBC noted: Hey el bee...did you notice this statement under the listing? "The seller of this home has requested that home value estimates not be shown. Per MLS rules, Redfin and other public MLS-powered sites may not display any automated valuation for this home." Hahahahahaha! Gee...I wonder why the seller doesn't want the value estimates to be shown!??!! Classic. *************************************** Reader LB1 sent in today's stunning example of greed, ignorance and drool-tinged wishful thinking. LB1 says: Great Blog, hopefully you'll save a few sellers from their own delusions. Speaking of delusions, you've gotta check out this ridiculous listing from the bixby knolls area: http://www.redfin.com/CA/Long-Beach/3962-Cedar-Ave-90807/home/7525777 Is that price a typo?? 3962 Cedar, 90807 Price: $1,700,000 Beds: 3 Baths: 2 Sq. Ft.: 2,233 $/Sq. Ft.: $761 Lot Size: 7,150 Sq. Ft. Year Built: 1953 MLS #: P696067 On Redfin : 41...

The last time we were updated about this overpriced train car we were informed: The status was "Active" and changed to "Contingent" Whoops: The list price was "$426,000" and changed to "$414,000" The status was "Contingent" and changed to "Active" This dummy's been wasting everyone's time since February of 2008 . And after dicking around and jacking up the price in anticipation of the Spring Bounce and Super Summer Selling Season, he's quickly finding out how foolish that greed-faced approach was. One more price cut and he'll be back to his May asking price. What a waste. To be fair, this might not entirely be the short seller's fault. The bank might be dragging its heels on accepting market value (which, as is obvious by now, is not anything above $399,000). As you have probably figured out, this house is technically on the MLS but is not actually for sale--the bank has no interest in selling for anythi...

732 N Washington Pl, CA 90813 Price: $344,000 Beds: 2 Baths: 1 Sq. Ft.: 1,064 $/Sq. Ft.: $323 Lot Size: 3,850 Sq. Ft. Property Type: Single Family Residence Year Built: 1905 MLS#: S514617 On Redfin: 630 days Down Payment: $67,000 Income Requirement: $95,000 Monthly PITI: $2,100 Description: HUGE PRICE REDUCTION!!!Historical Craftsman w/loads of charm.Huge Formal LR,original features:hardwood floors,doors & hardware glass & brass doorknobs,kit with 'ice box' cabinetry,mosaic tile counter,coved ceilings,wrap around porch has been enclosed,orig sash windows,light fixtures,french doors.Oversized lot w/alley and street access.'Potters area off kit with washer and dryer hook-ups. Formal Dining room. 1 BR w/original built ins above closet, 2nd BR has double walk in closet. Bath has built in linen cabinet above tub. Tandem gar divided "HUGE PRICE REDUCTION!!!" JUDGING BY THE LOOKS OF THIS THING, YOU'RE GONNA NEED A LOT MORE!!! Sweet mural. GONE! Sweet kitchen....

Mid-summer, dog days and mosquitoes, and I can't quite get excited about the Fair coming up or the opening day for SU football. I still want summer - those hot days and so warm evenings, looking at the stars and watching the moon rise without a sweatshirt in sight! There are currently 144 active listings in the Skaneateles area as defined by the multiple listing service. Three new ones came on this past week. One is a re-list of a home with a different agency, but remaining at the same price. Another is one of those smaller homes with smaller prices that have popped up recently, a very pretty little thing for $75,000 not far outside of the village. The third is a gorgeous home - well over 1 million - with a few feet of lakefront to boot. Sorry - no new pendings and no new contingent sales. In fact, the contingent sale from last week returned to the market. Sigh. We do have three - hooray! - closings and a very mixed bag at that. In the village a fixer-upper closed well unde...

The list price was "$495,000" and changed to "$475,000" Yawn. I mean... **COUGH**

847 Pine [Unit# ???], 90813 Price: $249,000 Beds: 1 Baths: 1 Sq. Ft.: 980 $/Sq. Ft.: $254 HOA: $226 Year Built: 2003 MLS#: P659710 On Redfin: 316 days Down Payment: $50,000 Income Requirement: $71,000 Monthly Payment: $1,500 Description: Check out what a live/work loft space can be. Use this very hip/chic space as your living and work space, or one or the other. It's up to you! The Courtyard Lofts are 16 spaces adapted from 2 retail spaces by the esteemed firm Interstices. This project won the coveted AIA design award and is an oasis in the city. The 16 units surround a tranquil courtyard beautifully landscaped, with a fountain soon to be completed. Inside you will find a very functional living space sharing the owner's photography business. Appliances include the stove dishwasher and microwave. There is a laundry area with hookups for your convenience. This is an end unit with a nice patio in the front for socializing with your neighbors. A short few steps will take you to you...

This HGTV show takes place in Baltimore, Maryland, and I can tell you from my own on-the-ground observations that the city has been absolutely pounded by the fallout from the Great Housing Bubble. And the Baltimore crash is being made much worse because in a declining market, the city’s warts can no longer be ignored for promises of rising property values and the resultant gentrification of so-so neighborhoods. No, in this it-turns-out-$350,000-is-a-lot-of-dough market, buyers pay very close attention to the crime rate (two summers ago in Baltimore, there were two murders a night. I don’t mean a body found in an alley and cops and coroners try to figure out the cause of death—I mean murder , where the gunshot wounds in the back of the dome take out all the guesswork), how far you need to walk to certain amenities, and proximity to undesirable aspect of city life—these things matter now to sellers, whereas they used to be overlooked just get in the game. And not just in Baltimore. Long ...

What do you think will happen with the $8,000 first-time homebuyer tax credit ? A) It will expire as scheduled on November 30 B) It will be extended well into 2010 C) It will be expanded to include more than just first-time buyers D) It will be increased to $15,000 at the behest of the NAR I'm betting on a combination of B, C, and D.

Boarding my flight from Atlanta to Fort Walton Beach, I noticed an impressively optimistic travel time estimation: 11 minutes? Uh, I'm pretty sure teleporting to Florida would take longer. Anyway, on with the madness: 922 Magnolia Ave, 90813 Price: $242,000 Beds: 3 Baths: 1 Sq. Ft.: 995 $/Sq. Ft.: $243 Year Built: 1908 Community: Downtown Area, Alamitos Beach MLS#: P694541 On Redfin: 41 days Down Payment: $48,400 Income Requirement: $69,000 Monthly Payment: $1,400 Description: Great Downtown area REO opportunity MUST SEE Don't Miss Out!!! 3 Bed 1 Bath Classic Home. Wait. "Community: Downtown Area, Alamitos Beach " ? Are you serious? You're probably closer to Redondo Beach than Alamitos Beach, guy. Nice try, though. I really wish the listing agent wasn't such a lazy sack of dumb because I'm dying to see photos of how three bedrooms, a bathroom, a kitchen, and (presumably) a living room fit into 955 square feet. I bet that's impressive as hell. But not n...

There is so much to talk about! So much exciting news! We'll start at the very beginning....a very good place to start. There are currently 143 active listings in the Skaneateles area of the multiple listing service. Four are new, well, sort of new. A village condo is being listed as single family, which in essence it is, with a reduced price. A home in the town has also come down so it's been re-listed and re-photographed - same house, but a new presentation never hurts! A house that had been under construction is now nearing the trim stage, so instead of a "lot" it is now a real house with a price in the mid-$400,000s. I toured it Saturday - lovely! A large village home has also been listed for the first time - asking price in the low $600,000s. There's one new property marked contingent, a great ranch that just came on and was priced under $200,000 to sell quickly - and by golly it did! Another property went straight to "pending" - gorgeous wa...

Heavy, HEAVY travel this week (right into Hurricane Central, too) so probably not a lot of posting. But comments are open as always, so please feel free to share whatever's on your mind.

I went to a garden party yesterday - really, I did! - and heard the most fantastic story that I want to share. So as the sun streams in with the fresh air, the crowds thin out, and Bob makes dinner at the lake (I hope) I'll tell you. My brother-in-law and sister-in-law had just returned from a weekend on the St Lawrence Seaway. Bruce is a great storyteller, and I'll try to do him justice. Mary Jo disagrees with some of the dates, but I like his version the best. Back in 1948 a young man paid $5 for a small, small island. It was no bigger than the 8' x 10' deck we were sitting on. Over the years he visited there, and every time he went out to it he brought rocks. After many, many years, he had a real island. As it was then large enough to support a house, he built - stone by stone - a small cottage where he could stay with his family in the summer. He added a dock for the boats, got a flat raft-like thing he called the "rock boat" and was able to bring ...

Off to Napa with The Lady. You kids have a good weekend.

Retail sales dip unexpectedly, jobless claims rise U.S. mortgage rates rise, may curb demand: survey U.S. home foreclosures set another record in July Pretty grim stuff, my friends.

16 12Th Pl, 90802 Price: $995,000 Beds: 2 Baths: 3 Sq. Ft.: 2,056 $/Sq. Ft.: $484 Lot Size: 2,915 Sq. Ft. (yikes!) Year Built: 1904 MLS #: P666834 On Redfin : 254 days Down Payment: $200,000 Monthly Payment: $6,100 (@ 6.5% jumbo) Income Requirement: $285,000 Description: $200,000. PRICE ADJUSTMENT!!! This one of a kind Alamitos Beach Bluff home has the location and views you've been wanting! It has an updated kitchen and breakfast bar with top-o-line Starmark European maple cabinets,bamboo flooring,recessed lites and S/S appliances.The large formal dining room and open living room lead to the patio overlooking the beach for your morning coffee or brunch. The large family room with recessed lites and crown moulding leads to your own private rear yard with new hardscape and landscape.The inside laundry room with premium washer, dryer and sink off the kitchen also has a upgraded 1/2 bath. The upper level off the foyer has two large master suites with walk in closets, berber carpet...

These are the "dog days" of summer. I have one dog under my feet as I write, another stretched out on the cooler flooring of the kitchen. Neither one has moved in a while. Outside nothing else seems to move, either. Except maybe the waterfall in the pond. It's artificial, but everything else where water could flow is running. Such rains! But the humidity, lack of a breeze, and warmth have put everything to sleep. Even the listings. Well, actually the sales. There are currently 143 active listings in the Skaneateles area of the multiple listing service. Seven "new" ones have come on the market in the past week. Actually, the phrasing should be "have returned to the market." Some have come with a reduction in price, others with a change of agency. Three waterfront, three town properties, and a village one thrown in. There are no new sales - or pending sales - or closed properties. "Dog days." I opened my yahoo home page this mornin...

1071 Newport Ave, 90804 Price: $378,000 Beds: 3 Baths: 1 Sq. Ft.: 753 $/Sq. Ft.: $502 Year Built: 1905 MLS#: S584658 On Redfin: 6 days Down Payment: $76,000 Monthly Payment: $2,100 Income Requirement: $108,000 Description: THIS PROPERTY HAS BEEN COMPLETELY REMODALED AND CUSTOMIZED INTO A LARGE 1 BED 1 BATH, EVERYTHING IS NEW INSIDE AND OUT, NEW SHUTTERS, LAMINATE FLOORING, LARGE LAUNDRY IN GARAGE. A MUST SEE TO APPRICIATE "APPRICIATE?" Huh? And speaking of huh? , the property is listed as a 3-bedroom, 1-bath. But in the listing description the realtard says it's been "REMODALED" into a large 1-bed/1-bath. Who the fuck would remodale into a smaller, less desirable configuration?! "Honey, I just customized our 3-series BMW. Yeah, I took out all of the passenger seats. Wanna drive to Big Bear?" What an idiot. And that useless 1-bed/1-bath layout makes the asking price of $378,000 that much more deliciously imbecilic. But I think the pièce de résistance i...

Remember this dingbat in the Diplomat ? Well he finally sold! Just kidding. He's still a greedtarded moron. DAYS ON MARKET: 889 Check out this ingenious pricing strategy: Mar 06, 2007 - Listed $510,000 May 08, 2007 - Price Changed $508,000 Nov 16, 2008 - Price Changed $490,000 Dec 23, 2008 - Price Changed $480,000 Easy there, broseph! We can barely keep up with all those aggressive price cuts! Hell, at this rate he'll have it sold in no time! And by "no time" I mean 2056 . I mean, maybe he simply forgot his apartment was for sale? Is that possible? Kind of like leaving the iron on or locking your keys in the car? And do you remember this nearby condo I highlighted in the original post: Or, would you rather buy this nearby condo with upgraded bathrooms and floors (our mental midget at 1401 only has carpet) for $319,000: If you bought this tidy little place, with a price unchanged since April and 393 total DOM, you'd have enough left over to buy a car commensurate...

Better call the Crazy Police because we might have a 5150 on our hands. 1919 E Beverly Way #212, 90802 Price: $365,000 Beds: 2 Baths: 2 Sq. Ft.: 1,151 $/Sq. Ft.: $317 HOA: $250 Year Built: 1982 MLS#: P697312 On Redfin: 12 days Down Payment: $73,000 Monthly Payment: $2,300 Income Requirement: $104,000 Description: Turnkey! Top Floor, End Unit 2 bedrooms/2 full baths PLUS ARTISTS STUDIO LOFT, Inviting Open Floor Plan with Abundant Natural Light, and Vaulted Ceilings. This unique condo has both a Balcony with a South Facing View and your Own Private Deck with City Lights View. Pass through Kitchen with a Bar Counter plus a Separate Dining Area. Spiral Staircase leads to spacious loft that has a separate entry and dircect access to private deck. There is also a Wood-burning Fireplace in living room, in-unit Washer and Dryer, and Ceramic Tile in kitchen and baths. Ample Closet and Storage Space. Comes with Two Parking Spaces in underground parking with storage space. Other amenities includ...