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Tuesday, April 13th, 2010 at 12:50 AM

Double Down in La Jolla

This footage was taken in December when both houses were for sale.  The agent had told me that he would submit our offers of $1.2 each, that is until a female agent said she’d submit the same, and he forgot all about me.

Later he raised the prices to $1.5 million each, and mentioned in the remarks that they were approved short sales.  The house that owed $4,195,000 was foreclosed last week – the opening bid was $1.25 million, and no takers. WaMu has about the same amount out on the other house too:

Posted on Tuesday, April 13th, 2010 at 12:50 AM in Buying at Trustee Sale, Jim TV, Short Sales, Train Wrecks | 12 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: 12 Responses

  1. Stand by for upcoming questionable sale at $999k.

    Art Eclectic | April 13th, 2010 at 7:08 am

  2. I drive by those houses every day on the way to work. I always wondered what was going on with them. I agree with you Jim the road noise would be aggravating during the day. But after 8pm it dies down dramatically. You *might* even be able to hear the ocean at night.

    Here’s info another pair of vacant houses that I always wondered about in La Jolla.

    http://sohosandiego.org/endangered/mel2009/redrest.htm
    http://sohosandiego.org/reflections/2002april/redroost.htm

    shadash | April 13th, 2010 at 7:14 am

  3. Jim… what street are those homes on?

    GameAgent | April 13th, 2010 at 7:37 am

  4. Wouldn’t take those for free….the liability down the road is huge. There are too many ways to make money in this market which are much easier than fixing someone else’s disaster…

    clearfund | April 13th, 2010 at 11:56 am

  5. I have to agree with clearfund on this… Who knows what was left by the previous builder… if there were deficiencies/mistakes made. It’ll be hard for anyone to find a builder willing to pick up the project. I know this from personal experience – we had a contractor abandon a job – and most contractors wouldn’t touch our project. Whoever ends up with these properties may very well have to demo and start over.

    UCGal | April 13th, 2010 at 12:44 pm

  6. Fantastic post heading. I think we have our first quadruple entendre from Jim. The gambling reference, the fact that both properties are down in value, the likelihood of them needing to be torn down lest they end up down the hill on Torrey Pines Rd. Well done Jim.

    dacounselor | April 13th, 2010 at 1:40 pm

  7. Where’s Mike Holmes when you need him?

    Geotpf | April 13th, 2010 at 1:57 pm

  8. “Some Assembly Required.”

    Why are people talking about a tear-down? Are we that certain the work done so far is crud or unusable? If they were sinking 70-foot I-beams into the ground for foundation, that kind of limits your ability to re-design the site.

    ewhac | April 13th, 2010 at 2:32 pm

  9. Shadash, I know everyone digs those cottages, but I think they are too far gone.

    Street is Costebelle.

    Thanks dacounselor! Always working those title entendres!

    Jim the Realtor | April 13th, 2010 at 2:42 pm

  10. Thanks for posting this. I also drive by those houses at least once a week and had wondered about them. For the price, I don’t understand the appeal. Give up the view and you can get something walking distance to the same beaches you can only see from Costabelle.

    mathinmiramesa | April 13th, 2010 at 10:05 pm

  11. Thanks for posting this Jim. I live right below those woodpiles from the apartment complex where you took the underneath shot. They aren’t looking any prettier after the nice rainy season we’ve been having.

    uber_snotling | April 14th, 2010 at 4:40 pm

  12. This may be the best blog entry ever. Really cool houses…I can imagine all sorts of ways to make those shine.

    Lots of risk though. It’s going to take a brave soul.

    Locomotive Breath | April 14th, 2010 at 9:44 pm

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