kaulat

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...

Anonymous writes: This house has been in default - NOD filed 1/27/2010 (apx. 14K delinquent). [Trustee Sale] filed 4/29/10. Sale postponed, then I'm sure was eventually cancelled with no new NOD filed. Currently off the market, probably trying to modify $400K 1st TD. Problem is there's still some equity in it so likely will be denied. Thanks for the inside information, Anon. I actually tried to get in to see this house when it was still on the MLS. They wouldn't even take appointments. Like the vast majority of short sales, it wasn't actually for sale. From what I've been told, you are correct that they are in the process of modifying the loan. As I predicted in May, they'll play the short sale game and sign up for every government program (HAMP, HARP, HAFA, etc.) to buy some more time and enjoy the free/discounted rent. But what definitely WON'T happen is the bank foreclosing. It's going to be a long time before we see this place back on the market....

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) -- -- ...

Sold on 09/09/10 - $1,200,000 To recap, after purchasing this property right after the peak of The Great Housing Bubble for $950,000 , the former owner demolished the existing home and built this overwrought monstrosity with what I imagine was a hefty construction loan. Unfortunately, the minute ground was broken on this eyesore of a McCastle, the real estate market began its horrific, Great Depression-esque decline. Stuck with an asset that was losing money before it was even completed, he spent the next eleven months sweating .50-caliber bullets, wishing that the housing market would somehow stop its rampant, freight-train powered return back to normalcy before he got his masterpiece on the market. Wish in one hand, and crap in the other...and see which one fills up first. We all know how that worked out. And so, in January of this year, after dicking around with extend-and-pretend short sale tactics, the bank finally foreclosed on his ass and took back the property for $1,260,000 ...

Officially off the market. Wow. No takers despite its 2004 price. He only lasted three months on the MLS before skulking off into the night with his tail tucked between his legs. Better luck next summer, buddy. ++++++++++++++++++++++++++++++++++++++ With the 2010 Super Summer Selling Season (tm) over before it began, sellers like this should be sweating enough bullets to fill Camp Pendleton. 210 SAINT JOSEPH Ave, Long Beach, CA 90803 Asking Price: $999,000 Purchase Price: $1,145,000 Purchase Date: 9/2006 Beds: 3 Baths: 2.5 Sq. Ft.: 2,343 $/Sq. Ft.: $426 Lot Size: 2,970 Sq. Ft. Year Built: 1924 MLS#: Y1001993 On Redfin: 91 days Description: Ideal Belmont Shore location situated between 2nd and Livingston Drive so close to stores/restaurants, Livingston Park and Playground, as well as in desirable Lowell Elementary and Will Rogers Middle School District. Not a short-sale or bank-owned property. Remodeled in 2006 with new Tile Flooring, Updated Kitchen with Granite Counters and Stainle...