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Showing posts from July, 2009

That's a Helluva Sales Strategy You've Got There: UPDATE II

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The status was "Active" and changed to "Contingent"

No View and No Clue

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We're surrounded by idiots. I'm convinced. 1500 E Ocean Blvd #512, 90802 Price: $625,000 Beds: 3 Baths: 2 Sq. Ft.: 1,455 $/Sq. Ft.: $430 HOA: $473 Year Built: 2000 Down Payment: $125,000 Monthly Payment: $3,800 Income Requirement: $180,000 On Redfin: 2 years, 4 months (listing says 52 days) Description: The condo and the complex are instantly appealling... The condo is light and bright with wonderful ocean breezes coming from 2 balconies. Beautiful walnut wood floors and newer carpet in the bedrooms. The complex has direct beach access, 2 side by side parking spaces, pool, spa, clubhouse, gym plus incredible sundeck overlooking the Ocean and Queen Mary. Partial Ocean Views. Pet Friendly!! "Appealling"? More like "failling." Isn't it strange seeing cheap-ass white kitchen tiles in a place built so recently? That's some bush league builder-grade shit right there. And to have the ovaries to ask $430 per square foot for that? Wow. Want to see the anatomy

No Quit on Mariquita: UPDATE

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The seller of this pestilent dust bunny sanctuary is still begrudgingly chasing the market down, wringing his sweaty, greedy hands in anticipation of some brain-damaged clod happening by with a wheelbarrow full of cash. And today is the latest installment of Too Little Too Late : The list price was "$519,999" and changed to "$495,000" Allow me to put this recent price reduction into perspective: Jul 29, 2009 - Price Changed $495,000 Jul 13, 2009 - Relisted Jul 01, 2009 - Delisted May 07, 2009 - Relisted May 05, 2009 - Delisted Apr 19, 2009 - Price Changed $519,999 Feb 02, 2009 - Price Changed $529,999 Jul 28, 2008 - Price Changed $575,000 May 19, 2008 - Price Changed $600,000 Feb 25, 2008 - Listed $625,000 For those keeping score at home, the most recent price reduction on this Fixer (and for the realtor to not call it one is incredibly misleading) brings the total to $130,000 in bottom-chasing asininity. Mind you, it took a year and a half to get to the price the

Bridgeport Bungle

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4743 E 4th St, 90814 Price: $379,485 Beds: 2 Baths: 2 Sq. Ft.: 1,206 $/Sq. Ft.: $315 HOA Fee: $390 Year Built: 1983 On Redfin: 748 days! (listing says 64) Down Payment: $76,000 Monthly Payment: $2,400 Income Requirement: $108,000 Description: Fell Out Of Escrow Not REO Or Short Sale. This has it All. Located in Prime Highly Desirable and Rarely Available Belmont Heights Bridgeport Complex. Clean, Light & Private Condominium with Cathedral Ceilings in approx 1,206 Square feet. Beautiful 2 bedroom or 1 bedroom & Office, 2 bath condominium. Kitchen has new granite like counters, Comes with Refrigerator and Brand New Washer & Dryer in Full Size Laundry Room. Beautiful Hardwood Floor Entry. Gas/Wood Fireplace. Large Master Bedroom Lots of Closet Space. Bright & Airy Formal Dining Room and Breakfast Area. Delightful Treetop View Balcony Features Two Side x Side parking plus storage. Community Pool & Spa newly resurfaced. 3 Year New Roof, Guest Parking. Steps to the Lagoon

Skaneateles Real Estate - The Weekly Update

I think summer came this week. We were able to spend a couple really lovely days at the lake, at least in the evening. I could bake away my summer cold in the sun. The grass grew and I mowed it without having to work around the rain. Today I showed waterfront. There are some great deals out there - some left from last year (and the year before) and some new ones. Until I pulled the actual listings, I couldn't have told you how "cheap" some of these are. Currently there are 142 active listings in the Skaneateles area of the multiple listing service. Nine - count 'em! - nine new listings came on this week. Two were re-lists - my $799,000 Carlton's Cliff listed as a residential single family home (yes, a barn can be a home!) instead of just as a lot (nine plus acres with waterfront.) The other has lake rights and a significant reduction in price. Three more were waterfront also, but new. Two are in the low $200,000s - think of that! The other is a truly lovely 1.1M.

LA TIMES: Study offers 5 options to reshape Long Beach’s breakwater

City leaders hope to persuade the Army Corps of Engineers to reconfigure the World War II-era structure. The result, they hope, will be cleaner water, bigger waves and more tourists. By Louis Sahagun, July 24, 2009 Just off downtown Long Beach, where freighters queue up to unload much of the nation’s imported goods, a long wall of rock rises from the waves, encrusted with mussels and crawling with crabs. ... Today, nearly two decades after the Navy and its ships pulled out of the area, critics contend that the stony barricade is the reason the city's now surf-less beaches are among the least popular and most polluted in the region. Long Beach officials Thursday released the results of a study designed to attract congressional support for a controversial proposal to reconfigure the breakwater to create bigger waves, cleaner water and beaches, and more surf tourism. The city could gain $52 million a year in local spending -- and $7 million annually in taxes and fees, the study found

That's a Helluva Sales Strategy You've Got There: UPDATE

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This Maersk shipping container with windows is all over the place: Jul 26, 2009 - Price Increased $426,000 Jul 25, 2009 - Price Decreased $399,000 Jul 20, 2009 - Relisted Jul 01, 2009 - Price Increased $426,000 Jul 01, 2009 - Relisted May 14, 2009 - Relisted May 13, 2009 - Delisted May 11, 2009 - Listed $399,000 Jun 09, 2008 - Delisted Jun 01, 2008 - Relisted May 27, 2008 - Delisted Apr 07, 2008 - Price Changed Feb 12, 2008 - Listed What a weirdo. Psst. Here's a helpful hint: If you've dropped the price by $27,000 and still nobody's interested... keep dropping the price . This may sound strange, but buyers respond to good deals--not abject rip offs. I know! Sounds crazy! But it's no crazier than your current non-sensical, disturbingly erratic pricing strategy. A poem from this seller: Roses are red, Violets are blue, I'm a schizophrenic, And so am I.

Hands Off, Chief!

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1187 E 3rd St #202, 90802 Price: $229,900 Beds: 2 Baths: 2 Sq. Ft.: 1,056 $/Sq. Ft.: $218 HOA: $235 Year Built: 1969 MLS#: P694073 Status: Backup Offers Accepted On Redfin: 21 days Down Payment: $46,000 Monthly Payment: $1,500 Income Requirement: $66,000 Description: SHARP SINGLE LEVEL CONDO WITH 2 BEDROOMS AND 2 BATHS. THIS IS A CORNER UNIT WITH 2 BALCONIES. IT HAS A VERY OPEN FEELING AND NUMEROUS WINDOWS. NEWER PAINT AND FLOORING. REMODELED KITCHEN AND BATHS. GATED PARKING IS ON THE 1ST FLOOR WITH AN ELEVATOR TO THE THIS 3RD FLOOR UNIT. Abysmal furniture, big flat-screen TV. That's the distressed seller's calling card. According to the listing description, this swingin' sixties short sale just went pending. Assuming the bank lets it go for the current asking price of $229,900 , the loss with commissions will be somewhere in the -$154,000 range. How's about a paper cut from a manila envelope right across your eyeball? Yowch! Can you believe that just two short years a

Too Good to be True?

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3600 E 4th St #202, 90814 Price: $282,596 Beds: 2 Baths: 2 Sq. Ft.: 1,320 $/Sq. Ft.: $214 Lot Size: 892 Sq. Ft. HOA: $259 Year Built: 1985 Purchase Price: $440,413 (this is the bank taking it back--and taking it in the shorts assuming it sells at this price!) Purchase Date: 5/2009 MLS#: P696443 On Redfin: 3 days Down Payment: $57,000 Monthly Payment: $1,800 Income Requirement: $81,000 Description: Bank Owned. Prime Belmont Heights Location. This is a large, 1320 sq ft, 2 bed/2 bath remodeled unit with w/d hook-ups in unit. Perfectly located to shopping, dinning and the beach. "Dinning"? This REO will likely be gone by the time I post it, but it's worth highlighting because, well, I think it's a good buy at this price. If this was a somewhat stable market and I wasn't convinced this thing would get bid up to well over $300,000, I'd put an offer in TONIGHT. First, this place is enormous. 1,300+ square feet is palatial compared to most Long Beach apartments. Seco

Arigato UPDATE VI

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On the Irvine Housing Blog Forums our friend Morekaos pointed out that this Asian-inspired eyeball seizure has yet again dropped the price in its seemingly never-ending sales attempt. The price was reduced $100,000 to $1,875,000. By the way this marks the seventh post on RE in the LBC and the 709th day on the market. This is getting to be regoddamndiculous. However, it appears the realtor is finally getting serious. No, not because of that hilariously pointless 5% price reduction. You see, he added this sweet video website: webcastcity.com/WhyBuyThisHouse/109PARKAVE Given the eternity on the market, I think the website should be webcastcity.com/WhyBuyThisHouse ? but I digress. I wonder how much loot they blew on that useless exercise. To paraphrase Jim the Realtor , you can play grab ass all you want with these bullshit videos and expensive "outside the box" marketing ideas, but if you're TRULY interested in selling, there's nothing price can't fix .

Foolhardy Financing, Foreclosure, FAIL

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1317 Ximeno Ave, CA 90804 Asking Price: $462,000 Beds: 3 Baths: 2 Sq. Ft.: 2,017 $/Sq. Ft.: $229 Year Built: 1955 Purchase price: $698,000 Purchase date: 5/2005 MLS#: P650732 Down Payment: $92,400 Monthly Payment: $2,600 Income Requirement: $132,000 Days on Market: 349 days Description: One of the nicest home in the neighborhood. Must see interior to appreciate. Conveniently located close to schools, shops, restaurants and freeways. Gourmet kitchen with granite counters, center island and newer appliances. Entire home is wired for Audio, TV and computer network with Cat 5. Audio system in Living room, kitchen, master suite and outside by family room in private yard. Private yard with fountain near the front of home. Walking distant to Wilson High School. Short Sale. All terms are subject to lender's approval. All information deemed reliable but buyers should verify all information. Please see agent's remarks for showing instructions. Dang, a 2,000 square footer with tons of upg

Skaneateles Real Estate - The Weekly Update

How lovely today was! I worked at home, giving myself a day to relax and recuperate - plus do all the wash from our many guests, clean out the refrigerator, chase a couple offers around and line up walk-throughs and closings. Yes, even in the summer, homes do close! There are currently 139 active listings in the Skaneateles area of the multiple listing service. Three "sorta/kinda" new ones came on the market. All are re-lists with changes - brokers and prices and reconfigurations. Two are waterfront (well, actually they are the same waterfront with and without land across the road) and the other is a small town home that has been reduced about 12% and re-entered into the system. One home has been marked contingent - a lovely village home that my buyers considered at one time. Priced realistically, it sold in under three months. Another home - great village waterfront - has gone straight to pending. Waterfront is starting to catch up. There is one new closed property -

Skaneateles - The Destination Wedding

Alex and Rachel were married this weekend in a marvelous ceremony with multiple parties surrounding the occasion. They had wanted a destination wedding, and while Alex dreamed of Hawaii and Rachel considered Italy, they came home to Skaneateles. And I must believe that after this weekend they are glad they did. We started with a small family party at our house on the deck. A simple cookout with hot dogs and "not" dogs, Boca burgers and hamburgers. Bob made his famous peach, mozzarella and basil salad - thank you to Freitag's for having the peaches, even if they had to come from South Carolina at this time of year. The bugs stayed away until 9:00 and then we came inside for a spirited practice of the Hora. People kept coming to stay at the house or move on to the Sherwood, Skaneateles Suites, or one of many bed and breakfasts in the area. I've been told I must mention the lovely accommodations of 10 Fitch Street in Auburn and Pine Grove (with the view of the lake

???

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Address: 711 E 1st St., 90802 Asking Price: $155,000 Year Built: 1920 Size: 1 beds, 1 baths, 468 sq. ft. $/Sq. Ft.: $331 Purchase price: $23,000 Purchase date: 8/1976 MLS#: A09042437 On Redfin: 98 days Down Payment: $31,000 Monthly Payment: $900 Income Requirement: $44,000 Description: ??? Investor???s Delight! Lease or Built (Lots of room to build) ??? Square feet: 486 SF, Lot: 2,444 SF, 1 bdrm/1bath, Zoning: LBPD30, Use Code: Single Family Residential. ??? Beach Lovers Dream, 1st Time Buyers Dream. ??? Cozy, warm, family home. ??? Close to Pacific Ocean, Queen Mary, Grocery market. Library, and Food Courts. FRONT AND BACK PATIO. LARGE FRONT YARD 3 BLOCKS AWAY FROM THE PACIFIC OCEAN "FRONT AND BACK PATIO"? Dude, with 468 square feet of living space--this property is all patio! According to the listing description, this is an "Investor???s Delight," as well as a "Beach Lovers Dream" and a "1st Time Buyers Dream." All things to all people, eh? Ho

Guess What Time it is...

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Address: 420 Winslow Ave, 90814 Asking Price: $799,900 Year Built: 1959 Size: 2 beds, 2 baths, 1,721 sq. ft. $/Sq. Ft.: $465 MLS#: P693035 On Redfin: 23 days Down Payment: $160,000 Monthly Payment: $4,800 Income Requirement: $230,000 Description: This rare, custom home epitomizes the architecture of the mid-century. A vaulted ceiling showcases a wall of glass overlooking the kidney shaped pool. Trendy home in one of the finest of neighborhoods. The fireplace hearth is curved and cantilevered. The master bedroom is large with sliding glass doors allowing an unobstructed view of the pool and outdoor living area. The guest bedroom is large with ample closet space. The absolutely adorable original guest bathroom with the darling yellow tile is accessible from the pool. The galley style kitchen has the original rich wood cabinets. There is also a den/office adjacent to the dining area. Nearly new central air conditioning, new pool pump, new garage door and new water heater. A pretty damn go

Skaneateles Real Estate - The Weekly Update (Wedding Edition)

Last night as I pulled out of the driveway and headed to the lake so we could get some sleep I realized that my update wasn't done. Since it was late, I didn't turn around and go back in the house. I apologize. The world doesn't stop, offers and counter-offers don't end, just because my one and only son is getting married on Saturday. That's the way it should be, in my opinion. Real estate is too much a moment to moment operation - "If you snooze, you lose!" No snoozing allowed. I would hate for one of my clients to lose anything. BUT! I can be a bit late and cursory with the update, I sincerely hope. This marriage will last so it will be the one and only time I can use this excuse. There are currently 144 active listings in the Skaneateles area of the multiple listing service. There are no new listings - the first time I think that has happened since I began the weekly update in March of 2008. There are no new sales, either - must be those thunde

Closed in Skaneateles! The Second Twenty

The first twenty I reported on April 30th. That was 120 days into 2009. The second twenty reporting occurred only 76 days later - I'd say that's progress, of the very good kind! Homes are selling - if you are thinking about buying, please don't wait because the market will probably increase in speed of sales. In alphabetical order! As always, further information can be found when updated via www.ongov.net . 49 Academy Street $625,000 Lot 32 Calemad $345,000 1398 Coach Road $482,500 6497 County Line Road $739,000 1915 East Lake Road $152,000 2599 East Lake Road $1,149,000 51 West Elizabeth Street $152,500 1527 East Genesee Street $150,000 61 West Genesee Street $375,000 16 Goodspeed Place $403,000 4684 Jordan Road $79,500 3802 Knightsbridge Road $261,000 43 Leitch Avenue $315,000 1835
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Hi y'all! Heavy travel this week, so probably no updates until the weekend.

**BREAKING NEWS**BREAKING NEWS**BREAKING NEWS**

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**FOR WIDESPREAD DISSEMINATION** CRACK PANDEMIC SWEEPS DOWNTOWN LONG BEACH, CA. LONG BEACH POLICE SPOKESMAN SAMUEL L. BRONKOWITZ INFORMS THE LONG BEACH HOUSING BLOG THAT AN EXCESSIVELY POTENT STRAIN OF CRACK COCAINE HAS MADE ITS WAY INTO THE GREATER LONG BEACH AREA, AND ESPECIALLY DOWNTOWN. THIS POWERFUL VERSION, REFERRED TO BY THOSE ON THE STREET AS "SUPER-CRACK," IS SAID TO CAUSE USERS TO LOSE TOUCH WITH REALITY AND SUFFER FROM HORRIFIC DELUSIONS OF GRANDEUR. ACCORDING TO POLICE SOURCES, EFFORTS ARE BEING MADE TO CONTAIN THE SPREADING PANDEMIC, BUT THERE ARE REPORTS OF PARTICULARLY FREQUENT USE AMONG THE BANKER AND REALTOR COMMUNITIES. PLEASE BE ON THE LOOKOUT AND CALL POLICE IF YOU SEE EVIDENCE OF SUPER-CRACK ABUSE IN YOUR COMMUNITY. "Yeah, uh, Police? You need to get down here now . Some crackhead just photoshopped flames into a fireplace." Address: 400 W Ocean Blvd #3002, 90802 Asking Price: $2,149,000 Year Built: 2007 Size: 3 beds, 3 baths, 3,249 sq. ft. $/Sq.

Dawson's Crock: UPDATE

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This Diminutive Dump on Dawson had itself a little price reduction: From Redfin: The list price was "$339,900" and changed to "$316,900" Wow, a whopping 7%. Hell, they probably already lost that much equity in the first half of this year--now they're just playing catch up! Regardless, we're now firmly in 2003 pricing for a detached home 4,000 feet from the ocean. QUESTION OF THE DAY: Will it be enough to nab a seller before we creep over into 2002 pricing?

Skaneateles Real Estate - The Weekly Update

I ran into an old friend last evening at Boom Boom's in Camillus. If you haven't been there, I highly recommend it. After laughing that the last time I'd seen him was there, he asked how the market was doing in Skaneateles. His house had been listed by another company and hadn't sold, so he was probing for answers. I referred him to my blog - maybe he's reading it now! I enjoy pulling together the statistics, because then I have them on my tongue. Often when I know I'm going into a listing appointment where I'll be asked pertinent questions I gear my blog towards the answers that week, thus making it possible to do two things at once. Life is short - multi-purpose researching saves time. So I sit here tonight in the office with the door wide open to the setting sun, people walking by with ice cream cones, kids calling out to each other, cars as always clogging the streets, and look forward to writing the update. The research has been done and proved i

Nutjob in Naples

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Morekaos over on the Irvine Housing Blog Forums reminded me of this resilient (read: wholly delusional) Naples seller: Dude, the front of this house looks like Clifford's dick. Address: 169 Angelo Walk, 90803 Asking Price: $995,000 Year Built: 1984 Size: 3 beds, 3 baths, 2,103 sq. ft. $/Sq. Ft.: $473 Purchase price: $997,000 Purchase date: 6/2004 MLS#: P593707 On Redfin: 900 days Down Payment: $200,000 Monthly Payment: $6,000 Income Requirement: $285,000 Description: This custom built home has it all.Great open floorplan, w/spacious gourmet kitchen w/food preparation island,surrounded by French doors opening to a secluded brick courtyard,which is centrally located for great entertaining and dining.There is casual dining off the kitchen area, Formal Living room with fireplace and custom bookshelves. Oversized Master bedroom complete with fireplace, sitting area, balcony and spacious master bath adjacent with large tub.Excellent Naples location, close to Bay! That description, althou