kaulat

Sold on 02/01/12 - $165,000 At $155 per square foot, that is less than half the original asking price. Way to hold out for top dollar! +++++++++++++++++++++++++++++++++ Since there is no new inventory to speak of, out of "Where Are They Now?" curiosity I've been revisiting past Long Beach Housing Blog properties. Although most RE in the LBC victims--ERRR... featured sellers have since pulled their properties after unsuccessfully pursuing insane wishing prices ("Well, I'm not going to just give it away! "), a few deluded soldiers continue marching on. Like this idiot: This dreadful piece of doodie is now entering its FOURTH YEAR on the market. The good news is that after more than 1,100 days of wholly ridiculous prices and slack-jawed market chasing, this dolt seems to be finally waking up to reality. To wit: Jan 05, 2011 Relisted - $223,000 ($210 per square foot) But take another look at the photos and ask yourself if $223,000 is even that great of a p...

Given some of the ridiculous bullshit I've encountered in my house search, I might have to come out of blogging retirement. ASKING PRICE: $469,900 ADDRESS: 14 5TH Pl, Long Beach, CA 90802 BEDS: 2 BATHS: 2 SQ. FT.: 1,214 $/SQ. FT.: $387 YEAR BUILT: 1953 MLS#: P786112 ON REDFIN: 86 days HOA: $260 DOWN PAYMENT (20%): $94,000 INCOME REQUIREMENT (3.5 x Income): $107,000 MONTHLY NUT: $2,500 DESCRIPTION: Amazing sweeping ocean views from the main living space of this two bedroom, two bath condo. This secure unit is just steps from the sand and a large communal patio area, perfect for entertaining or watching the 4th of July fireworks. Condo features hardwood floors, updated kitchen, upgraded bathrooms and plantation style shutters. This could be your perfect ocean home. I looked at this bank-owned condo a few months back and walked away unimpressed. Between the termite damage, filth, poor condition of the kitchen cabinets, darkness of the bathrooms, lack of street parking, community lau...

Since there is no new inventory to speak of, out of "Where Are They Now?" curiosity I've been revisiting past Long Beach Housing Blog properties. Although most RE in the LBC victims--ERRR... featured sellers have since pulled their properties after unsuccessfully pursuing insane wishing prices ("Well, I'm not going to just give it away! "), a few deluded soldiers continue marching on. Like this idiot: This dreadful piece of doodie is now entering its FOURTH YEAR on the market. The good news is that after more than 1,100 days of wholly ridiculous prices and slack-jawed market chasing, this dolt seems to be finally waking up to reality. To wit: Jan 05, 2011 Relisted - $223,000 ($210 per square foot) But take another look at the photos and ask yourself if $223,000 is even that great of a price for this shit hole. Even if it was asking $50,000 -- the 1981 sales price -- I still don't think it's worth it. In addition to the property taxes and insu...

Sold on 09/01/10 - $440,000 After 15 months on the market (so long they finally gave up and returned the staging furniture -- check out the new listing photos) and 12% in price cuts, they finally found a buyer. Look, this is a beautifully restored house in a decent neighborhood (I'm being generous...this lower-income, rental-filled 'hood is marginal at best), but this buyer still overpaid. Straight up. He could have waited a bit longer and saved himself a substantial chunk of loot. $383 per square foot, although an okay deal on the surface, is at least $120 more per square foot than the going rate in this area. Yes, you have to factor in how the plethora of condos in this rental-inundated area affects the ppsft, but the overall point is that's a rich premium to pay. And it goes back to the aforementioned golden rule of real estate: Buy the crappiest house in the nicest neighborhood. And look, I get that some people would rather let another jackass spend all of his loot pain...

455 East OCEAN Blvd #1104, Long Beach, CA 90802 Beds: 1 Baths: 1 Sq. Ft.: 664 $/Sq. Ft.: $248 Year Built: 1923 Community: Downtown Area/Alamitos Beach County: Los Angeles MLS#: P728984 On Redfin: 123 days Description: Adorable 1 bed 1 bath condo on the 11 floor really cute kitchen, lots of storage, well laid out floor plan for the sq. footage, light and bright, shared balcony with a view of the Marina and the water. Located on the west side of the building overlooking the courtyard and the fountain. MUST SEE! Ready for the money shot? Purchase Price (9/2005): $330,000 Current Asking Price: $165,000 _________________ Loss Assuming Sale: $165,000 OUCH. And considering the HOA fine is $300 per month and there's no parking, it would need another 50% reduction before I'd consider it.

Sold on 7/8/10 - $315,000 ($6,000 above asking price) As I said in May: Who knows...maybe the bank has it priced correctly for today's low-inventory, low-interest-rate environment. I think $309,000 is straight up Jocelyn Wildenstein crazy for this shite neighborhood, but given all the manipulation and interference in the market, it's tough to determine the true "value" of anything these days. ...so I'm not terribly surprised by the sales price (especially given the bevy of Fed and State tax incentives that essentially reduced the sales price by $20,000). But I still think the new owner overpaid (dude, burglar bars). Congratulations on purchasing the most expensive house in a one-mile radius! The good news for the bank is that it recouped some of its money, but the bad news is overall they are still in the hole about $180,000 . +++++++++++++++++++++++++++++++ 705 East 8TH St, Long Beach, CA 90813 Asking Price: $309,900 Beds: 2 Baths: 1.5 Sq. Ft.: 1,310 $/Sq. Ft...