kaulat

Today's property is a throwback to the old days when you could buy an apartment for a good price, put a little elbow grease into it, quickly put it back on the market, and walk away with an easy, pocket-bulging profit. Unfortunately for this dolt, those old days of easy flipping are long gone and buyers know better than to fall prey to the greed-infused motivations of gold-bricking shysters. ADDRESS: 4301 East 2ND St Unit 3b, Long Beach, CA 90803 WISHING PRICE: $535,000 PURCHASE PRICE: $360,000 OVERLY OPTIMISTIC PROFIT TARGET: $140,000 BEDS: 2 BATHS: 2 SQ. FT.: 1,218 $/SQ. FT.: $439 YEAR BUILT: 1965 COMMUNITY: Belmont Shore/Park/Naples/Marina Pacific/Bay Harbor MLS#: P757318 DOWN PAYMENT: $107,000 INCOME REQUIREMENT: $122,000/year MONTHLY NUT (AT 5.05%): $2,900 HOA: $195 DESCRIPTION: Standard sale. Amazing ocean and Cataline views. Stunning end unit. Complete remodel, Kitchen has custom limestone floors, granite countertops, all new Bosch built-in appliances. Beautiful bat...

Sadly, as anyone actively looking for a house can attest, there isn't much to report. Same old shit, bigger pile. Here is the November update: ...and the most recent inventory : Sad. Just further decreases leading up to the (Supposed) Super Spring Selling Season ®. Looks like this year is going to be a(nother?) total dud for prospective buyers. Not only is inventory not ramping up in anticipation of selling season, it's down 4% from January (and down 14.5% from February 2010)! But the dismal lack of inventory (let alone quality inventory) has only emboldened sellers and their wildly optimistic pricing. Check out the substantial jump in list prices (blue line) during the last few weeks: ZZZZZZIP! Yes, I realize a $14 differential between List and Sold prices isn't that dramatic, but you have to compare it to 2010 when the List/Sold tracked within a few bucks. What's more interesting is how late-2009 buyers -- who listened to the hype about "the bottom is def...

Thanks to LBCee for sending in today's property. Address: 242 PROSPECT Ave, Long Beach, CA 90803 Wishing Price: $1,350,000 BEDS: 2 BATHS: 0.75 SQ. FT.: 1,476 $/SQ. FT.: $915 LOT SIZE: 6,347 Sq. Ft. YEAR BUILT: 1923 COMMUNITY: Belmont Heights/ Alamitos Heights MLS #: P769097 ON REDFIN : 10 days DESCRIPTION: This lovely bungalow will captivate you from the moment you step inside with its warm character and special attention to detail. Enter the garden dolloped with colorful flowers and bushes. Don't miss the exterior walls which were painted with what looks like whipped cream. Walk up the Spanish tiled steps to the veranda and enter your dream home through the gorgeous custom wrought iron double doors. Step inside to see a large main living space with lots of sunlight. Don't miss the custom hand-cut 12' wood plank flooring. A separate dining area leads you to a beautifully remodeled chef's kitchen with granite countertops and backsplash and top of the lin...

Sold on 12/17/2010 - $200,900 Wow. What a ride for this welted chunk of excrement. More than 1,000 days on the market and the bank finally approved a short sale at the price it should have been at all along. Just look at this lesson in incompetence: Dec 17, 2010 Sold (MLS) (Closed) $200,900 -- Inactive CARETS #P701097 Jul 31, 2010 Pending (Backup Offers Accepted) -- -- Inactive CARETS #P701097 Jul 19, 2010 Price Changed $199,900 -- Inactive CARETS #P701097 Jun 23, 2010 Price Changed $219,900 -- Inactive CARETS #P701097 May 19, 2010 Price Changed $225,000 -- Inactive CARETS #P701097 Mar 03, 2010 Price Changed $250,000 -- Inactive CARETS #P701097 Dec 30, 2009 Price Changed $289,000 -- Inactive CARETS #P701097 Dec 30, 2009 Relisted (Active) -- -- Inactive CARETS #P701097 Dec 03, 2009 Pending -- -- Inactive CARETS #P701097 Nov 12, 2009 Price Changed $239,000 -- Inactive CARETS #P701097 Oct 30, 2009 Relisted (Active) -- -- Inactive CARETS #P701097 Sep 23, 2009 Pending (Pending Sale) -- -- ...

Oct 15, 2010 - Price Changed $375,000 After spending the last TWO HUNDRED AND FIFTEEN DAYS stuck on the same ridiculous asking price, just days after my latest post the price dropped by $15,000. Looks like somebody reads the Long Beach Housing Blog. Or is it just coincidence? ++++++++++++++++++++++++++++++++ Days on Market: 324 I mean, why not just take it off the market? 11 months on the MLS and you've only managed a measly 8% price reduction...from a hilariously WTF asking price, no less. And that last price cut was seven months ago! Just give up the ghost, buddy. You're clearly not interested in selling, so pack up your stupid fish-eye lens and quit wasting our time. +++++++++++++++++++++++++++++ 2805 East 3RD St #14, 90814 WTF Price: $425,000 Beds: 2 Baths: 2 Sq. Ft.: 1,000 $/Sq. Ft.: $425 (The highest ppsft in this zip is $314) Year Built: 1974 MLS#: S596231 Source: SoCalMLS On Redfin: 30 days HOA Fine: $263 Down Payment: $15,000 (FHA) Income Requirement (4x income): $...