Wednesday, January 21st, 2009 at 5:32 AM
Flipper in O-hain
Remember this one?
The owner was part of a big SEC investigation over short-selling and stock manipulation, and was sentenced to 11 years in jail. His conviction was upheld last month.
He had bought this 6,412sf house new in 2001 for $2,200,000. Because of his ‘detention’, his mortgage fell in arrears, and he was sent a trustee sale notice.
The attorney thought there would be a bidding war on the courthouse steps and would get bid up into the mid-$2 millions. He said that if the trustee sale did occur, he’d send his guy down to buy it.
Not sure if there’s a connection, but it was bought for $1,857,854 on the courthouse steps on 2/22/08. Keith heard that there were no other bidders at the auction, and that the new owners planned to offer it for sale in 6 weeks – for $2.45 million.
That was last February.
It finally listed it last week - for $3,900,000.
It’s open today from 10:30 to 2:00, if you’d like to go by for a look – they cleaned the pool!
3371 Calle Tres Vistas.
Posted on Wednesday, January 21st, 2009 at 5:32 AM in Uncategorized | 9 Comments » | 
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Jim, if you do go to the open, be kind enough to advise the owner that the great housing bubble officially had been over since when.
george8 | January 21st, 2009 at 6:23 am“Stupidity, like virtue, is its own reward.”
Bill Davidsen
shadash | January 21st, 2009 at 6:47 amWorst case of Clue Deficit Disorder I’ve seen in a long time. Green pool cleaned? Maybe Casey wants to buy it.
Rob Dawg | January 21st, 2009 at 7:25 amI predict they don’t get half of their ask.
Genius | January 21st, 2009 at 11:55 amThey call him Flipper, Flipper, faster than lightning,
No-one you see, is smarter than he,
And we know Flipper, lives in a world full of wonder,
Flying there-under, under the sea!
Everyone loves the king of the sea,
Ever so kind and gentle is he,
Tricks he will do when children appear,
And how they laugh when he’s near!
They call him Flipper, Flipper, faster than lightning,
No-one you see, is smarter than he,
And we know Flipper, lives in a world full of wonder,
Flying there-under, under the sea!
(From http://preview.tinyurl.com/cznpkm )
Kwaping | January 21st, 2009 at 3:03 pmDamn, I was P*SSED when that place sold on the courthouse steps and my agent didn’t let me know (we had seen it one week before, and the selling agent said not to even bother with any lowballs like $2.1m, which was what I was considering bidding). Cleaned up and with some basic things changed, I could easily see it going for near $2.5ish. It’s a solid place.
Aztec ("Anonymous" above) | January 21st, 2009 at 3:07 pmAztec,
You can monitor what’s going to go on the courthouse yourself via a site Jim noted earlier:
http://www.fidelityasap.com
You just need to use your email and make up a password to access the info. You can search by city, zip or even APN number.
The opening bid price often does not show up till a couple of days prior.
shoppingaround | January 21st, 2009 at 7:46 pmP.S.–I’m guessing since your agent isn’t Jim, who would proably work out some kind of deal with you, the majority of realtors have no vested interest in helping you buy it from the courthouse–there’s no commission.
shoppingaround | January 21st, 2009 at 7:48 pmMan I must have missed the first article. This Tony dude was some character. You can go on some website and read his extended prose about how wrong the case was against him. He had some nice cars at that place as well. I am pretty sure I was in the Bedford, TX area when he got his start, kind of strange we both wound in Encinitas.
Anyway some good reading. Can’t tell if the guy is speaking the truth or certifiable.
AnthonyPacific | January 21st, 2009 at 10:19 pm