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Sunday, May 24th, 2009 at 8:20 AM

Hotel California?

This is located just north of the 395 exit from the I-15 freeway, between Gopher Canyon and Mission off-ramps.

The owners had paid $170,000 for the lot in 1999.  Countrywide gave them a $1,140,000 mortgage in February, 2006, but that wasn’t enough, apparently, because they got a new loan for $1,499,000 on 12/29/06 to build 7 bedrooms, 5 bathrooms and 6,237sf on 15.82 acres.

Now it’s listed for just $466,900!

Here’s a youtube video tour:

Here are shots of the exterior stucco, where leaks are happening:

Posted on Sunday, May 24th, 2009 at 8:20 AM in Jim TV | 32 Comments » | Print Print You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Reader Comments: 32 Responses

  1. oops!Someone took it on this deal.Where is angelo mozillo now?

    arizonadude | May 24th, 2009 at 8:44 am

  2. Silly question but… how does stucco leak?

    Susie | May 24th, 2009 at 9:21 am

  3. Just how many grannys can you have?

    If problems are showing this early and that obvious you really gotta be worried about what’s behind the walls and under the floors taht you can’t see.

    Martin | May 24th, 2009 at 9:24 am

  4. The ceilings look like they were suppose to have drywall on them, but someone changed their mind or got lazy.

    Nice way to finish off the video. One last chirp from one of the smoke alarms. :)

    François Caron | May 24th, 2009 at 10:30 am

  5. You couldn’t give me that house. It is not worth $1. How many of you would take that house if you had to put more money into it and then live there? In other words, how many of you would take that house if the conditions were you had to keep it forever?

    The only person who will buy that house is someone who thinks they can fix it up and sell it to someone else. The investor will find that there are no takers, except maybe other more optimistic investors. If you think that it would make a wonderful house all fixed up, then ask yourself how much money would it take for you to fix it up. Then ask yourself if there are any buyers in that market right now? Specifically someone with over a $1,000,000 to spend who doesn’t have litterally thousands of better choices of better houses in better locations.

    As I said, there are no end buyers for this. It’s not worth $1 to anyone. (except to strip for scrap of course)
    Then I would have to pay taxes, insurance, and upkeep to live there.

    Average Joe | May 24th, 2009 at 10:51 am

  6. That is a huge house. I agree with Jim there is potential. The only downsides are the freeway noise and the weird master. A contractor with a big family or comeone that wants to keep their employees close might be able to finish it off correctly.

    shadash | May 24th, 2009 at 10:53 am

  7. Wow! There is a lot of money into that! That is a steal for the buyer that wants something like that.

    Do you think all that leak is from the exterior walls? What did they forget to paper under their lath??? Inspectors look at lath.. what is going on?

    Skeet | May 24th, 2009 at 12:20 pm

  8. I added the exterior stucco pics. They may have left out the flashing, or just did lousy work. It’ll take a pro to match the stucco color/finish if you tear out all the problem areas.

    Jim the Realtor | May 24th, 2009 at 12:23 pm

  9. Might make a nice compound for a cult.

    Tyrone | May 24th, 2009 at 12:42 pm

  10. http://www.zillow.com/homedetails/32762-Ranchos-Ladera-Rd-Bonsall-CA-92003/16572717_zpid/

    Here’s the listing.

    I only like the kitchen :(

    Ugly and falling apart :(

    MelodyofLove | May 24th, 2009 at 1:14 pm

  11. I vote ugly and badly designed. Who knows what other water damage is waiting, unseen? With construction quality this shoddy, the whole place is questionable. The master is weird, the property barren of landscaping…and that staircase to get to the downstairs area…killer on the knees of anyone over 50. Good luck getting furniture down that, too.

    My final words: hillside brush fire.

    ArtEclectic | May 24th, 2009 at 1:59 pm

  12. Shoddy construction is an understatement. The whole layout of that place is strange. Can you imagine $1.5 mil to build it and now it’s going for $467K… yikes.

    Mozilo should be hanged.

    JAP | May 24th, 2009 at 2:21 pm

  13. JIM YOU ARE THE BEST!!!! LOVE YOUR HONESTY!!!! IT IS SO REFRESHING TO FINALLY MEET A REAL ESTATE AGENT THAT TELLS IT LIKE IT IS….

    COLLEEN | May 24th, 2009 at 2:57 pm

  14. My late husband was a contractor/finish carpenter and always said to look at the “bones” of a home. This house has broken bones! For a new home to already be falling apart with leaks from a bad stucco job and the shoddy workmanship on the sprinkler system tells you all you want to know on HOW this house was built…

    Susie | May 24th, 2009 at 3:13 pm

  15. Jim, everyone else out there in San Diego. Don’t they have county building inspectors in San Diego? What about code violations?

    Please, educate me.

    Consultant | May 24th, 2009 at 4:36 pm

  16. I don’t see that house surviving a rain storm without all the circuit breakers tripping.

    no bubble here | May 24th, 2009 at 4:57 pm

  17. Just think you could own this for the same price as a dump went for in Oceanside 3 years ago. Some of those seem to be constructed on par with this
    one.

    mybleachhouse | May 24th, 2009 at 5:48 pm

  18. Does being at the top of a steep hill like that make for more of a fire hazard?

    NateTG | May 24th, 2009 at 9:29 pm

  19. Jim, you are the stair master.
    Looking at that one outside stairway, is that slope stable? I’m thinking one good rainfall, especially after a hillside brush fire, and the whole thing slides down the hill.

    doug r | May 24th, 2009 at 9:33 pm

  20. Consultant – yes they have inspectors… I suspect that the contractor screwed up so much they walked when they realized it wouldn’t pass inspections.

    I suspect that because we had a contractor do that to us. Fortunately our project was smaller… but it was still seriously expensive to get final occupancy.

    Jim – is this property certified for occupancy?

    UCGal | May 24th, 2009 at 10:43 pm

  21. what a mess. I guess if you know good contractors, maybe you can make this property work for you.

    Myriad | May 24th, 2009 at 11:02 pm

  22. Bad location, weird layout, poorly constructed with questionable materials and workmanship.

    It might be worth something for the lot, but the house is a liability, IMHO.

    CA renter | May 24th, 2009 at 11:24 pm

  23. In the run up to the housing collapse, building this house was just a cover to get lots of money from a bank.

    It’s pretty clear no real effort was made to build a livable home. Our housing Ponzi scheme was so vast, that people could get loans to build “fake homes”.

    Consultant | May 25th, 2009 at 6:17 am

  24. Looks to be about one cigarette butt out a car window away from ending up a torch job.

    Sol | May 25th, 2009 at 6:56 am

  25. You’d think that if they were lent $1.5 million, there had to be some sort of voucher program.

    They already had to borrow another $300,000 they didn’t think they needed, and one good rain was the last straw.

    I’m guessing that the price is low because they’ve been told that the stucco needs to be re-done.

    Jim the Realtor | May 25th, 2009 at 7:47 am

  26. not that I want to give these guys too much credit, but I think the wacky layout is to maximize views from the living spaces. All those hallways on the flat size and bedroom/living room on the slope side.

    Of course, that doesn’t excuse the general fugliness of the house.

    becky | May 25th, 2009 at 8:19 am

  27. Photo #2 – looks like no weep screed construction – stucco in direct contact with ground. I believe this is contrary to current building code.

    Desert Realtor | May 25th, 2009 at 12:40 pm

  28. Horrible house. What a mess. Construction quality is poor and the design is retarded.

    Geotpf | May 25th, 2009 at 3:50 pm

  29. I agree with everyone who says the layout is bad and just really poor construction. The master is horrible, the living room should be 30% bigger and the kitchen is also poorly designed and constructed. 2 Granny flats and a “pool house”? The neighbors hope someone bulldozes it and starts over. It’s salvagable, but at an enormous cost.

    jbirdfunk | May 25th, 2009 at 8:16 pm

  30. These recent desert hillbilly mansions featured here are interesting.

    I simply don’t understand why anyone would buy that house. Can’t you get a very nice, good-sized house in Temecula on a large lot for $450K? One that isn’t next to a freeway, and perhaps IS next to some conveniences? In a good school district? Why would anyone choose this place over one of the many, many such options available?

    No, you probably can’t get a 7000 sq ft house for that, but when you’re talking about 7000 sq ft of crap, the extra space is a burden, not a benefit. Unless you plan on running a cult or a halfway house, but where’s the market for that?

    People think the bubble is over, but as long as there are people who look at this and think it’s anything approaching a good deal, the bubble mentality remains.

    Blissful Ignoramus | May 26th, 2009 at 1:15 am

  31. I figured out a solution!

    Disassemble the house piece by piece, throw away the bad stuff, and build a smaller house with what’s left! You should be able to build a decent and properly built mid-sized home with all that crap, possibly two. :)

    François Caron | May 27th, 2009 at 11:00 am

  32. It’s already in escrow, so someone saw something in it.

    Dr. Kibble | May 28th, 2009 at 6:12 pm

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