kaulat

Sold on 09/02/11 - $605,000 Well, that only took 400 days. Look at this long, sad saga: Sep 02, 2011 - Sold $605,000 Jul 15, 2011 - Pending (Backup Offers Accepted) Jul 08, 2011 - Price Changed $609,000 Jun 17, 2011 - Price Changed $639,000 May 27, 2011 - Listed (Active) $649,000 May 27, 2011 - Delisted (Cancelled) May 17, 2011 - Price Changed May 09, 2011 - Price Changed Apr 25, 2011 - Price Changed Mar 30, 2011 - Price Changed Mar 04, 2011 - Relisted (Active) $699,900 Mar 04, 2011 - Delisted (Hold) Mar 04, 2011 - Relisted (Active) Mar 03, 2011 - Delisted Mar 02, 2011 - Listed Nov 14, 2010 - Delisted (Expired) Oct 05, 2010 - Price Changed Sep 27, 2010 - Price Changed Aug 27, 2010 - Price Changed Jul 15, 2010 - Listed (Active) Apr 14, 2010 - Sold $405,000 Hey, a $200,000 profit! This flipper must really know what he's doing! Not so fast, punchy. Setting aside the fact that flippers who know what they're doing actually, you know, flip houses instead of chasing the market dow...

Price changed from $639,000 to $609,000 Ouch. This is getting uglier by the day. They've knocked off $90,000 from the list price and still no action. I mean, psychologically how do you think that feels? This flipper is still ahead of the game considering he paid only $405,000 in April 2010, but that seemingly fat $204,000 profit cushion isn't as comforting when you consider the 15 months of carrying costs, the substantial money he sunk into the flip ($80,000? $100,000?), and of course paying out commissions ($36,000). It's not like he'll lose money on the deal -- I think even in the worst-case scenario he'll break even. But I'm sure he'd like to gain some profit for his trouble, so with the fall and winter months (and his one-year MLS anniversary) approaching it would be wise to keep cutting. But with a listing history like this, would you characterize this flipper as "wise"? Jul 08, 2011 - Price Changed $609,000 Jun 17, 2011 - Price Chan...

Price changed from $659,000 to $649,000 How's that market chasing workin' out for ya?

Price changed from $675,000 to $669,500 This is actually the second price reduction in the last four weeks ($30,000 lopped off so far). Will it be enough to for this flipper to make money on his lipstick-on-a-pig makeover? Well, considering the census bureau reported that homes for sale are currently the lowest they've been since 1967 (yes, you read that correctly), they might find an impatient, frustrated buyer willing to overpay. For this kind of scratch I think a buyer can do way better, but in this inventory-free environment nothing really surprises me anymore. ++++++++++++++++++++++++++++++++++ ADDRESS: 4512 East VERMONT St, Long Beach, CA 90814 ASKING PRICE: $699,900 BEDS: 3 BATHS: 2.75 SQ. FT.: 1,500 $/SQ. FT.: $467 LOT SIZE: 4,735 Sq. Ft. YEAR BUILT: 1948 COMMUNITY: Belmont Heights/Alamitos Heights MLS#: P772185 ON REDFIN: 4 days DOWN PAYMENT: $140,000 INCOME REQUIREMENT (3.5x): $160,000 MONTHLY NUT: $3,700 DESCRIPTION: Remodeled 3 bedroom 2 3/4 bath Home with...

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...

ADDRESS: 4512 East VERMONT St, Long Beach, CA 90814 ASKING PRICE: $699,900 BEDS: 3 BATHS: 2.75 SQ. FT.: 1,500 $/SQ. FT.: $467 LOT SIZE: 4,735 Sq. Ft. YEAR BUILT: 1948 COMMUNITY: Belmont Heights/Alamitos Heights MLS#: P772185 ON REDFIN: 4 days DOWN PAYMENT: $140,000 INCOME REQUIREMENT (3.5x): $160,000 MONTHLY NUT: $3,700 DESCRIPTION: Remodeled 3 bedroom 2 3/4 bath Home with Contemporary Open Floor Plan and New Laminate Floors throughout. Light & Bright Living Room w/ Venetian Plaster Fireplace opens to Formal Dining Room. New Kitchen w/ Granite Counters, Pantry, & Stainless Steel Appliances including Gas Cooktop, Oven, Dishwasher, & Breakfast Bar opens to Dining Area and to spacious Family room which overlooks NEW Wooden deck with view of the Private Peaceful Backyard. Spacious Master Suite with a New Bathroom with custom flooring, Skylight tube, Vanity & oversized shower w/ seamless shower doors. 2 other custom remodeled bathrooms. There are many other NEW fea...

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...