kaulat

That's down 3% just between September and October! Wow. And the result? A greed-driven divergence between List vs. Sold price per square foot. That's what happens when all but the dumbest, most delusional sellers take their ball and go home and wait for the market to "return to normal." Current sellers know there's no quality inventory out there and it makes them cocky and emboldened. As we enter the winter months we'll see if that approach pays off.

The status was "Active" and changed to "Contingent" I don't buy it. This apartment has been rotting on the MLS at $299,500 since November, and now it suddenly goes contingent after a measly 3% price reduction? I smell horseshit. Anyhow, the current list price of $289,500 is just $27,000 more than what this flipper paid for it in June of 2009 -- a far cry from the $62,500 premium he tried to get last summer. Factor in about $17,000 in commissions and we're looking at a razor-thin profit margin. Oh, but don't forget about the 13 months of carrying costs, including $5,460 in HOA fees, for this unoccupied unit. I think it's safe to say this flipper will absorb a loss in the tens of thousands for his delusional attempt to make real estate riches by "buying at the bottom" of '09. +++++++++++++++++++++++++++++++ Address: 5200 East ATHERTON St #125, 90815 Asking Price: $299,500 Beds: 2 Baths: 1.75 Sq. Ft.: 1,241 $/Sq. Ft.: $241 Year Built...

Address: 5200 East ATHERTON St #125, 90815 Asking Price: $299,500 Beds: 2 Baths: 1.75 Sq. Ft.: 1,241 $/Sq. Ft.: $241 Year Built: 1965 MLS#: S581393 On Redfin: 222 days HOA: $420 Down Payment: $60,000 (20% down)/$12,000 (FHA) Income Requirement: $86,000 Monthly Nut: $2,000 (20% down)/$2,200 (FHA) Description: This SPOTLESS and HUGE 1300 sqft 2 bedroom - 2 bathroom 'C' Model has been scrubbed, painted, hardwood floors refinished, ceiling acoustic removed with new skip-trowel finish, new baseboards installed, recessed lighting in kitchen & bath, kitchen cabinets refinished, new faucets, new mirrored closet doors, vertical blinds, stainless steel appliances including cooktop, built in oven, over-cooktop microwave, dishwasher AND new dual-pane windows throughout plus slider door. It even has central air and heat!!! This is one of the nicest, cleanest, most dialed-in properties I have seen! HOA fee includes TONS of STUFF like CABLE-WATER-TRASH-PEST CONTROL-MASTER FIRE INSURANCE-P...