kaulat

We're used to seeing egregious typos in listing descriptions, but this is something new: Unless of course they mean Keith Sweat Dreams: In that case, you bet! Via It's Lovely! I'll Take It!

Well well well, looks like someone might have found that last remaining drunken knife catcher! The status was "Active" and changed to "Contingent" Only 22 days on market and it's already accepting backup offers. Not bad! If this sale actually closes, I am DYING to get a peek at the final sales price. If he gets anywhere near asking price of $599,000, huge congratulations are in order. You see, the updated property records show he picked it for $407,500. So, assuming Flippy here put $40,000 into it (we have no photos so that's pure speculation), he would make a hefty $150,000 profit (boosted by his realtor's commission). WOW. That, of course, is assuming this sale actually closes. A message to the prospective knife catcher: 1) Wipe drool from chin. 2) Turn on computer. 3) Open Internet Explorer. 4) Go to www.redfin.com. 5) Type in 4201 E 3rd St, 90814. 6) Scroll to Property History. 7) Reconcile the fact that you are about to pay $200,000 more t

It's just lovely here! I'm waiting for some people to come and show their children the new house they bought. Still a month from closing, but the boys never saw it because the parents didn't want to disappoint them if the deal fell through. They're more confident now - and today is a perfect day for it! The benches are back all through the village. People were relaxing in the sunshine across the street - I could see them through the open door. Our water bowl for dogs is outside. Over the winter we had to take it in on occasion because it froze solid. I look forward to it not freezing again for another eight or nine months. This year if you walk by with your dog, stop in. We have treats inside the Victorian cookie jar. Linda would love to hand them out! I received a marvelous e-mail this morning from an old friend. I had sold her house many years ago when I was first starting out, allowing her to move to the Adirondacks to semi-retire. She just wrote that with the help o

Uh oh. West Ocean Two is back on the radar. To jog your memory, here is a blog post from September 2008. Anyhow, I was perusing the always-entertaining Irvine Housing Blog Forums and I saw this: http://la.curbed.com/archives/2009/03/west_ocean_two_decides_to_throw_another_auction.php#more According to Curbed LA: A flyer was just released announcing that they are auctioning off 39 units. But here's the difference: Lower minimum bids. In August, the minimum bid on a 834-square-foot unit that was previously listed at $534,000 was $275,000. At the April auction, the minimum bid will be $195,000. ... Meanwhile, the developer reported that 33 of the 39 condos sold at that first auction, but the number didn't indicate how many had closed. Don't you find it odd that after a 39-unit auction in August, seven months later there are exactly 39 units for sale? That can mean one of several things: 1) None of the "sales" from the previous auction actually closed, and this is th

I can't stand it - there are just too many great news stories out there today. I was sorry I didn't know about a few of them for my update blog on Wednesday, but there's no reason I can't dedicate an entire blog to good news. I think the overall news starts with this webcast sent in by a loyal reader. Check it out: http://realtytimes.com . On many fronts this says the real estate market is turning around. Then there's the tax credit for first time (or not in a few years) homebuyers. I hear daily from my mortgage people that this is real - up to $8,000, not to be paid back at a later time. All yours - just for the buying of a home! I spoke with an agent yesterday who got our purchase confused with another one. She begged my forgiveness, and apologized for seeming to toot her own horn, but she has had 17 (SEVENTEEN!) transactions this month. That, in our market, is huge. As a reference, RE/MAX Masters agents average more than agents from other companies, and

Finally! It's been a long day, but a good one, and just when i thought I was ready to write the late spring afternoon assailed me and Boo. We went for a climb in the cornfield and then back home for dinner. I know it's spring in Central New York because my turtlenecks are more pastel. On to the market which has been red hot - I kid you not! There are currently 123 active listings in the Skaneateles area of the multiple listing service. But they won't last, not if the number of phone calls and the activity keeps up! Anyway, four are new this week: two waterfront re-lists at lower prices, one country listing drastically reduced (think 25%) and a new house with acreage actually in Cayuga County. There are six total properties marked contingent, and I must say that the two new ones are my listings. I am very happy, and I can't tell you what they will close for as my loyal readers know, but I am happy they are sold, or at least well on their way. Skaneateles will we

Address: 232 E Louise St, 90805 Asking Price: $129,900 Year Built: 1979 Size: 2 beds, 1 baths, 874 sq. ft. $/Sq. Ft.: $149 Purchase price: $324,307 Purchase date: 8/2007 MLS #: S08153774 On Redfin : 147 days Down Payment: $26,000 Monthly Payment: $800 Income Requirement: $37,000 Description: Built in 1979 this is a newer 2 Bedroom 1 Bath Home. in near move in condition. in good condition, shows well, Clean the carpets, maybe a little paint and it will look great, It has a 2 car detached garage, cute back yard with rose bushes and at $129,900 is price at less than 35% off its sell price in 2006. A screaming deal as a rental or starter home. Corporate owned and sold AS-IS. "Newer," eh? I guess that depends on what you're comparing it to, but okay. "Clean the carpets, maybe a little paint and it will look great"? HEY DUMMY, THAT'S YOUR JOB! I thought you were actually trying to sell this pile of crap! If it only needs minor work like carpet and paint to make it

I'm not sure how many of you are familiar with the Promenade in downtown Long Beach, but these places are pretty nice. Unfortunately, the units were incredibly overpriced during the bubble and as a consequence have been getting absolutely annihilated during the ensuing housing crash. UPDATE: Here's a picture of the "real" building and not some artist's utopian rendering: To wit: A 2-story, 2-bedroom (plus loft), 2.5-bath unit is asking $419,000 . Not bad, right? Too bad the 2007 sales price was $850,000 . That's right, friends, in just 24 months this condo's value has dropped an astounding 51% . Brutal! I'd rather shit hot knives than be the bagholder on this one. And that's assuming this place sells at the current asking price. With a 10.5% unemployment rate, I think we all know the odds of that happening. About as good as Steven Adler becoming Obama's Drug Czar. Some say walkaways are a minor aspect of this housing crash, that those who can

I'm back from Winston-Salem with a property in need of a little grooming: WHERE'S THE HOUSE?! Address: 732 N. Washington Pl, 90813 Asking Price: $364,000 Year Built: 1905 Size: 2 beds, 1 baths, 1,064 sq. ft. $/Sq. Ft.: $342 Purchase price: Purchase date: MLS#: S514617 On Redfin: 466 days Down Payment: $73,000 Monthly Payment: $2,000 Income Requirement: $104,000 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. 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 Anyone else have a headache from reading that thing? This is punctuation and ab

With great sadness I read of the death of Mike Condie, the manager of Roland's in the village. The calling hours and funeral will be tomorrow. He was a staple for 42 years in his storefront and I will miss him. At my brokers' open at 127 Raspberry - really, you must see this home for the decorating al o ne ! - a debate broke out among the attending Realtors about open houses. I mentioned that it would be open a lot, and one of the agents told me she thought open houses were a great waste of time and never did them. She said most people had an agent and if they wanted to see a house they could make an appointment, why take up her time. I responded that I sell through open houses and the easier I could make it for buyers to see a house, the better it was for my seller. The agent said that she still saw no reason for them. Others agreed primarily with her - so now I really want to sell my next house through an open house! Check out the Syracuse new Times this week! Lovely

Welcome to another week of the update! Tuesday was wild - we made an offer on a small home for over 10% of the list price, cash, no contingencies - and we lost it! There were 7 original offers and we bulled our way through to the second round. Amazing! (The price was under $100,000 - but still! - and in Syracuse - really! - and only a 2 bedroom - no way !) If you know of another one, call me please! So back to reality. There are currently 122 active listings in the Skaneateles area of the multiple listing service. Three are "new," reactivated from last year. Two are priced about the same, but one has been drastically reduced due to its condition. Cash offers, it would like and probably need. One property "went contingent" this week, less than a week since it came on the market. In the high, high $500,000s and overflowing with extras - everything larger or more than usual. And it sold - go figure! We now have 14 properties closed for the year. The lake

You’ll notice lately that I’ve been featuring a lot of Belmont Heights properties. That’s because while I’ve seen evidence that a decent number of Belmont Shore sellers are willing to deal, Belmont Heights sellers seem to be drinking a particularly strong blend of Kool-Aid. According to Anonymous, this RE in the LBC-featured property was recently picked up by a real estate agent in an attempted flip. Attempted , I said. He apparently bought it from under the bank at auction, put a little elbow grease into it, slapped together a new listing with a whopping three photos (all exterior—smart!), and now expects a nice fat profit for his "backbreaking" work. Yep, a profit. Flipping houses. In the middle of the worst housing decline anyone alive has ever seen. Good thinking, pal. Here is the new listing: Address: 4201 E 3rd St, 90814 Asking Price: $599,000 (increased by $84,100 from the January price) Year Built: 1922 Size: 2 beds, 1 bath, 1,163 sq. ft. $/Sq. Ft.: $515 (up from $443

And on and on it goes... The price was reduced $275,000 to $1,975,000. For those of you counting at home, they've reached 577 days on the market.

I've had one of those interesting, wonderful weeks that remind me why I'm in real estate. Last weekend we took a road trip (ROAD TRIP!) to North Carolina. I was inspired by a client/friend who called me periodically on the way to Florida a few weeks ago to negotiate an offer. By 9:00 that night he was in 65 degree temperatures and going out to eat - no boots, no gloves, no scarves, and NO snow! We were "chilling" in the teens, the snow was coming down, and "cozy by the fire" had lost its thrill. I got off the phone - the offer didn't go through - and said "We're going South - when?!" It took us a couple weeks to get ready and then we piled the dogs in the Element and left. As you've heard me say before, if you ever want to sell a house, go on vacation. Or better yet - send your agent on vacation! Sure enough, I spent all day Thursday on the phone. Bob drove, the dogs slept, and deals were made. By the end of the weekend I had

Is this a mobile home? Address: 4319 E 5th, 90814 Asking Price: $390,000 Year Built: 1990 Size: 2 beds, 1 baths, 760 sq. ft. $/Sq. Ft.: $513 Purchase price: $434,284 Purchase date: 11/2008 MLS#: P679069 On Redfin: 1 day Down Payment: $95,000 Monthly Payment: $2,600 Income Requirement: $135,000 Description: CLOSE TO THE OCEAN AND BELMONT SHORES. FEATURES INCLUDE HARDWOOD FLOORS,NEWER KITCHEN,FRESHLEY, PAINTED,AUTOMATIC ENTRY GATE TO DRIVEWAY. THIS PLACE IS VERY DESIRABLE This bank-owned property comes complete with a bank-owned-quality description. "FRESHLEY, PAINTED"? Okay... "CLOSE TO...BELMONT SHORES." What is it with LB listing agents who don't know that it's Belmont Shore , not Shores ? How can you expect people to believe you understand Long Beach real estate when you can't even correctly spell the name of one of its premier neighborhoods? This mediocre modular has been sitting on the market since December 23 with no interest. With this ridiculous p

20 days ago I wrote: Wake up, buddy. Slap a price tag of $200,000 on it TONIGHT and keep cutting by $10,000 every two weeks until it sells. I know it's difficult to accept that's what it will take, but if you keep this up you'll be looking at even more dreadful comps a year from now. I mean, how much longer are you willing to shell out that $2,500+ monthly payment to "own" before you realize you could rent the next door neighbor's house for half that? I'm starting to think we have a secret Long Beach Housing Blog reader on our hands because I just saw this: Mar 10, 2009, Price Reduced - $209,900 You're getting warmer, buddy...

Someone’s been snorting too much Kool-Aid Kocaine. Address: 535 Grand Ave, 90814 Asking Price: $474,000 Year Built: 1920 Size: 1 beds, 1 baths, 624 sq. ft. $/Sq. Ft.: $760 Purchase price: N/A Purchase date: N/A MLS#: P662564 On Redfin: 132 days Down Payment: $95,000 Monthly Payment: $2,600 Income Requirement: $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. “Single family residence”? Is that a joke? It’s a 624 square foot 1 bed/1 bath, you dolt! “Presitgous”? “Restaraunts”? The most astounding aspect of this property is the $760 per square foot asking price. Really? With a straight face? You do realize there isn't a 50-foot boat slip behind it, right? This is a probate sale and the vultures--ERRR, next of kin are obviously trying to cash in. Yo

Happy One Year Anniversary of the Weekly Update! My readers have made it possible, kept me informed, and encouraged me. Thank you! There are currently 121 active listings in the Skaneateles area of the multiple listing service. Three new ones came on last week. The village home is a re-activation - that gorgeous home on the corner of East and Onondaga. I doubt Pat Snyder, the listing agent, will object if I mention it. Then there's new construction - apparently very new - out in Parcell Woods. It's a 3 bedroom in the high $300,000s. To complete the tour - 68 acres - oh my! - in Moravia School District and a small farmhouse to boot! High $200,000s. Altogether there are only 4 homes marked contingent in the system; the new one this week is in the town but Marcellus schools, listed in the low $100,000s. By the way, I have a buyer looking for a home in that price range but it has to be Skaneateles Schools and not too far from the village. How far - call me with a home

It's getting late and there is so much to say.... This is the first anniversary of the weekly update and I must congratulate myself on having produced an update each and every week. Maybe not always in the beginning of the week, as I had planned, but certainly by Thursday at the latest. The last few weeks I know people have waited on Tuesdays for the update which seems to be the day I strive to complete it. "Striving" is the key word. Tuesdays are filled with brokers' opens and ad deadlines. They also are the days people respond to open houses they saw on the weekend. This evening I wrote an offer for a house that can't be seen until Sunday. My buyers are putting in an offer sight unseen, but they've done their homework and know this is the house for them. They are friends, it was fun to see them and try to make our offer as good as possible, but my blog got delayed again until now, after 8:00. I want to do a good job, and writing now will not produce on

Has someone finally seen the light? This poorly-located bank-owned doo doo pile has been enjoying solid $10,000 cuts for the last two months (which I recommend to any seller languishing on the market for more than 60 days without a bite). It's a smart, disciplined way to go about things and I hope they continue with this pricing plan. Let's re-crunch the numbers: Address: 837 E. Ocean Unit #??, 90802 Asking Price: $199,900 Size: 2 beds, 1 baths, 1,206 sq. ft. (built in ??) $/Sq. Ft.: $166 (WOW!) HOA Fee: ?? Purchase price: $389,534 Purchase date: 3/2008 MLS#: 08-333463 On Redfin: 101 days Down Payment: $40,000 (from $47,000) Monthly Payment: $1,300 (assuming $200 HOA) Income Requirement: $57,000 (from $67,000) Description: Bank-owned property in prime Long Beach location move-in condition 2 bdrm, 1 bth with great open floor plan. Kitchen opens to living room and dining area with nice front porch. In heart of downtown only 4 units in charming building. 101 days. Same useless lis

I can't believe this isn't listed as a Fixer Upper. Address: 777 St. Louis Ave, 90804 Asking Price: $299,000 Year Built: 1924 Size: 4 beds, 2 baths, 1,674 sq. ft. $/Sq. Ft.: $179 Purchase price: $650,000 Purchase date: 4/2007 MLS#: R811004 On Redfin: 65 days Down Payment: $60,000 Monthly Payment: $1,700 Income Requirement: $85,000 Description: Bank owned. Sold for 650K in 2006. Raised foundation, hardwood floors, formal dining, 50x135 lot, big private yard. "Sold for 650K in 2006"? WHO GIVES A SHIT?! Mark McGwire's 70th home run baseball sold for $3 Million at auction in 1999. What's that thing worth now? I strongly suggest you click the Redfin link and check out these amazing pictures. Here are the greatest hits: I mean, wow. What a colossal, stank, rank, piece of shit. And speaking of pieces of shit: FLOATER CHECK! You'll also notice there isn't a single picture of those "hardwood floors" the listing agent seems so proud of. All I see is bo