Predict the eventual sales price, and the closest will win a bubbleinfo t-shirt and pens, Padres tickets, plus an assorted gift package valued at somewhere under a million dollars!
Jim Klinge
Klinge Realty Group
Broker-Associate, Compass
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Argh! A Chevy Cobalt… the horror! the horror!
872K is my guess.
$987K all cash.
One Million seventy five thousand dollars and 99 cents.
900k.
how much do you think it would range in cost to rebuild to rsf standards in terms of $ per sq. ft.?
Triple the asking price of Ron Paul’s house, so $975K
I’m doing this Price is Right style….
I bid $1, Bob.
“…an assorted gift package valued at somewhere under a million dollars!”
Could it be that the winner of the contest will receive the house as the assorted gift package!?
Yep all cash…837K
It will be a cash offer of $750,000
I wager $650,000 all cash which is what I would pay for it without knowing the size of the lot.
1.1 million, all cash.
Sorry – 2.91 acres.
Sales history:
SP = $2,225,000 in August, 2001
SP = $2,400,000 in June, 2005
Both buyers got foreclosed.
$1.6 million is my guess
$ 1,051,000 Just cover up the cracks and flip it in a matter of days.
$887K is my guess. With the foundation/drywall cracks and where the house is sited on the lot, just tear it down and start over…
Concrete underpinnings or caissons could probably fix the foundation. Depending upon how deep the bedrock is under the house, the fix would cost about 100K. My guess, the house sells for 1.2M.
It got foreclosed twice and what does it say to ya? Bad karma? Poor FengShui? I’ll pass.
$1,250,000 cash.
What’s the location? It’s nice and quiet…..why would it be priced that low?
If you were the agent, Jim, what would you price it at?
Exactly the question I wanted to ask, College Joe…
$845,000
Pull the house back and not bother with a three car garage unless you have a classic.
Not a buck more than 923.
The house right behind/above this house belongs to Phil Mickelson and is for sale for 7.199 mil.
$1 million dollars! What a mil these days anyway?
$1.125mil with crack and all.
680k dollars with Komatsu Excavators
$695,000 all cash and can close in 2 days.
Saw it on CR – put me down for $999K – no one prices round numbers, not even at WalMart.
Nice work.
BTW – the bubble has move east – farm land.
Hm, I’m thinking $898K.
What did Atlas Shrugged make this weekend? Less than that: $1.265m.
Put me down for $885K.
$499,900
massive demo cost, cant build big on this broken lot.
540K – Cash Offer will take it…
Property falling into the creek, tear-down, she thinks 190k but my entry is 575k.
I’ll go $830 all cash
Not a penny over $435,000. Cash sale.
Have seen lots of these things, and no buyer should touch it! Hill side slumping, concrete slab, have to lift house to remove slab,50k for lift, 150 k for foundation replace with deep piers and foundations, 50K for engineering, then redo house inside,50K more. $300K repair cost, than try to sell it with the engineering report and notification of possible slide area, or improper fill in lot. Remove pool 25K
$350K tops! if you want to take the risk.
Or pay $795, demolish house, take tax write off, and sell the land, might make money!
I’ll try $855k…
722k is my entry
i’ll lo-ball at 610k cash for the land
If you’re gonna tear it down, the demolition costs are not write offs. That should be capitalized.
Besides the foundation and landslide issue, the place is just really tacky, yet boring, and the layout makes the place seem less than the sum of its expensive parts. Salvage the marble for some grave markers and knock that sucker down. That seems like one of those houses that would normally have one of Jim’s mafia or scarface background stories, if it weren’t so lame.
I love the Atlas Shrug bid, it’s so fitting in so many ways. So I’m gonna price-is-right that with $1,264,991 (subtracting the cost of one matinée ticket and a small popcorn). But I promise if I win, Krugmans Depressive can have the Padres tickets.
RE 42 – i was giddy drunk with optimism and now in a sober state retract my 610k bid for a 310k cash sale
$680,000 is my bid.
820k bid with a six pack throw in .
Too many lookers already:
8 all cash offers, bid ‘er up to 889K
$1.175M for my bid
Let’s see: $2,400,000 in 2005. Market’s dropped about 50%, so $1.2MM if it were repaired. Half a mil for repairs, puts it at $700K–cash only.
Definitely needs pilings under it, and if you have to jack it, you may as well move it away from the edge of that dropoff while you’re at it.
No sale. None. When do I collect my prize?
$1.34M . Why not.
1.4 M someone will take it for the neighborhood and tear down.
size of the cracks (after 24 years) : foundation is repairable ! No worries guys, distance to the creek and height difference -> bedrock is not far away from this castle ! Modern technology (already in use after 24 years of improvements in engineering) : repair cost about 350k USD.
My bet : 980k USD.
$674555. A shot in the dark.
Interesting its moving/cracking, the bank drop away isnt that bad, that distance should have been fine….I would conclude that the foundation was badly put in, or some other ground problems so a ground survey to look for why, and yes piles….then the house itself is just awful anyway….some of the flooring looks nice….so salvage the good stuff and tear it down….so its worth its section minus the clearance costs….Given the housing price collapse is not finished a good house would be worth 1.2Mil max…so this is worth half that, $600k….
462,399 for the property which if left standing will have a cracked loo.
I’ll go 925,000.
I’ll go $579k all cash. Def needs to be torn down. It could cost a cool million to tear down and rebuild bringing a buyers total cost to almost $1.6m
@tc
Thanks for the tickets.
$210,000, or a silver toilet.
Given size, location, and a $300K budget to stabilize the place (don’t tear it down, stabilize it and call it good: Its only moved a couple of inches in 20 years), I’d say “~50% off peak OTD after stabilization”:
$934K.
$196,350.00
1/4 of the asking price – land value for rebuilding. Can’t be repaired. This is a tear down.
I’ll go with $865.
I’ll go with $625K….
$671,055 is the final sales price.
How about $989K.
I’m gonna say……..$715K.
I’m going to guess $392,151.
Don’t know the RSF market, but the land value less demo costs sets the bottom of the range. I don’t see a complete teardown at the price it seems likely to sell at. Half those houses in RSF seem to have slab cracks because of the soil. They are just “well maintained.”
Fix it and flip it seems the likely scenario to me. I’m going to guess $1,075,000, based on all of Jim’s educational RSF videos.
Anyone think they might have left the “1” off by mistake and meant to list it at $1,785,000? What was the opening bid at the trustee’s sale?
49k – that sucker needs to be ripped down, its poo on a stick.
Jim the Realtor: Predict the Price of REO
by CalculatedRisk on 4/18/2011 10:46:0
$510K cash.
I’m gonna go with $200,000.
$999,999 all cash + a Chevy Cobalt.
I am with Another Investor–without seeing it myself, someone is going to buy it cash, repair what they can of it, abandon the pool and flip it! There will be several offers from buyers with that in mind and it will get bid-up. I am going with $897K.
$627,400 all cash.
702,000. Structural issues are always so much fun!
$849,000 all cash
$653,000 certified check.
$713,000 – cash
It’s totally trouble. Not a dime over $250K, and it’s gotta be cash.
$850,000 cash…..I showed this home the morning it hit the market. The place was packed full of Rancho dreamers. I over heard a women say she could put her horses there. I asked the listing agent to send the geo reports, but I’m still waiting. As I drove off a brand new black Bentley convertible was making it’s grand entrance. Can’t wait to see what it sells for.
$700,000 Im feelin’ lucky!
$697,500 I am feeling confident:)
$777,777…feelin double lucky!
$679,000 all cash. A tear down in an upscale location.
$785k even with the work
$822K.
A little spackle paste and grout, and place is as good as new.
$990k just shy of a million
I’m thinking $645,900
Prediction: 625,000 cash
$866,550. And not a penny more.
$888,888 is my guess
It will sell for 862K cash for tear-down and redevelopment. My guess is that the reconfigured access to the lower level will be used to put in a key wall and berm to hold back the downslope movement and in about 15 years the lot will show that it’s slumping again. These are unconsolidated marine sediments and do not support slope stability. True about a lot of north County, unfortunately.
I’ll say $1,030,000
$400k, thats what it will be and that is too much.
869K – all cash
replace it with 3500 sf
I’d say $397,500 in – as Boss Hogg from the Dukes of Hazzard would say – “Cash on the barrelhead!”
I’m gonna lowball and say $450,000.
At the end of a street falling down a hill dated possible condemnation bad landscaping pool shot but in a very nice area. 1.5 mil Tear it down put up a new one still cheap.
1.05 Million – put some lipstick on that pig.
I’m thinking complete teardown on this one. The crack for one, but bottomline is this house is so not aesthetically pleasing that someone would probably tear it down even without the cracks.
There’s a 3 acre lot for sale also in the Covenant but further up next to Del Dios going for $850k.
This one is in a better location, much closer to RSF golf course and the I-5.
I say $800k.
My guess is 800K
“Can you believe they built this?” (referring to the sunken tub). Yes, I can. What a POS. Was there no Art Jury back then? Yes, there was.
Given the FAR better teardown lot on Los Morros went for $1.2 mil, this one is worth about half that WITHOUT the soils problem. $400K would seem about right. But maybe Shadash will step up and give them $900K. So I’ll go with that.
1.05 million and a quick flip
Predict-$320,000
There is too much pessimism here. I saw a teardown go for 75% of retail in Laguna Niguel about 6 months back. It’s definitely north of 700K… and you’d be surprised what engineers can do with a few hundred thousand. That whole hill could be stabilized, bedrocked, and filled. You’d also expand the usable size of the lot, and increase the future value of it… especially since Phil is your neighbor.
Chuck
$889,000 <– cash!
I guess it is about 615k.
$699,900 cash and some hot glue will fix ya right up!
~ Another CR reader.
979…….why tear it down? it’s fine
$1.15 million…. SD discount in reverse
$896,500 all cash/ no lender unless private monies in that condition
My guess is it will sell for $975,000. Probably able to stabilize the slope and do a nice remodel.
Lynda
I’ll guess $803,000.
$830,000 – going to be cash. Some hot glue, etc., and the price doubles.
demo res, 85,000. stabilize lot,$ 125,000. My est of sale price is DaDaDa. 574,750.
I say somewhere around $1.1M.
if there was a bidding war to drive up the price it should have gone pending by now… still active.