Has Potential

by | Oct 1, 2009 | Foreclosures/REOs, Jim TV, Thinking of Buying? | 19 comments

Every journey back starts with the first step….

19 Comments

  1. doughboy
    doughboy on October 1, 2009 at 4:42 pm

    Vista! Gotta love it!! Value around every corner!!!

  2. JAP
    JAP on October 1, 2009 at 7:04 pm

    Yikes!

  3. redys
    redys on October 1, 2009 at 8:04 pm

    LAMO. Then cry.

  4. Desert Realtor
    Desert Realtor on October 1, 2009 at 9:14 pm

    JtR, just curious, do you know the original sale price the ATM balance?

  5. tj & the bear
    tj & the bear on October 1, 2009 at 9:28 pm

    “This ain’t that bad.”

    Yes it is! Hope you’ve had all your shots; maybe those retired marines can get you some MOPP 4 gear for future visits to gems like these.

    You’re right, though; it’s practically a large duplex. A contractor could whip that place up and start collecting decent rent in no time. I’ll pass, though. 😉

  6. Jim the Realtor
    Jim the Realtor on October 1, 2009 at 9:37 pm

    Thanks for the compliment yesterday tj, I think a difference here is the lack of ads everywhere you look.

    I went to the Padres vs Dodgers last night, and was reminded of how the constant barrage of ads is so depressing.

    Padres are looking tough next year!

  7. Jim the Realtor
    Jim the Realtor on October 1, 2009 at 9:38 pm

    Sales price was $470,000, financed 100% in 10/04. Pulled out another $50,000 before going down.

  8. 3clicks from da beach
    3clicks from da beach on October 1, 2009 at 10:59 pm

    You aren’t a fatty until you jump for joy and get stuck.

  9. François Caron
    François Caron on October 2, 2009 at 4:13 am

    You? Doughy? You’re as skinny as a European! 🙂

    The place reminds me of an apartment I once had. Moldy and a complete wreck. I now see those places as potential tear-downs.

  10. Rob Dawg
    Rob Dawg on October 2, 2009 at 4:29 am

    “Illegal unit.” Whereinthehell did you learn to speak Realtorese® Jim? That buyer will verify bonus construction has income opportunity written all over it.

  11. d^2
    d^2 on October 2, 2009 at 6:27 am

    love it! franky went to town on this one!

  12. Local Boy
    Local Boy on October 2, 2009 at 7:03 am

    Can you say “Bootleg”

  13. Art Eclectic
    Art Eclectic on October 2, 2009 at 7:40 am

    With a major remodel, an ambitious homeowner could turn that downstairs into a great home office/storage space (and be able to use the garage as a garage) while making the upstairs a private family space. At least that’s what I saw when I watched the video. Storage space in the former “kitchen” and office space in the other “bedrooms.”

  14. Snohomish Sue
    Snohomish Sue on October 2, 2009 at 9:39 am

    I’d love to see a video of this after it’s ready for resale………..dump to dream??? Oh the potential!

  15. RBRenter
    RBRenter on October 2, 2009 at 10:09 am

    Reminds me of the old appraiser’s joke:

    “You know Frank Lloyd Wright?”

    “Yeah”

    “Well this is Frank Lloyd WRONG.”

    Ultimate man cave downstairs.

  16. Erin
    Erin on October 2, 2009 at 10:19 am

    I like the arrows drawn on the walls. very considerate to point out the problems to potential buyers.

  17. osidebuyer
    osidebuyer on October 2, 2009 at 11:06 am

    WOW. $520K borrowed on that? Seems to me this is the biggest off-peak decline we’ve seen, percentage wise.

  18. osidebuyer
    osidebuyer on October 2, 2009 at 11:07 am

    Oh and I loved the Frank Lloyd Wright comments, I was laughing several times.

  19. Anonymous
    Anonymous on October 3, 2009 at 12:48 pm

    osidebuyer-Not even close. The world record for decline from peak is 92.8%, found in this Palm Springs house:

    http://www.redfin.com/CA/Palm-Springs/398-W-Palm-Vista-Dr-92262/home/6044258

    Look at this crazy shit:

    Property History
    Date Event Price Appreciation Source
    Apr 30, 2009 Sold $32,500 -87.1%/yr Public Records
    Feb 08, 2008 Sold $399,479 -8.3%/yr Public Records
    Sep 22, 2006 Sold $450,000 28.4%/yr Public Records
    Sep 20, 2005 Sold $350,000 63.3%/yr Public Records
    Jul 30, 2004 Sold $200,000 89.0%/yr Public Records
    Oct 06, 2003 Sold $119,000 24.3%/yr Public Records
    Oct 11, 2002 Sold $96,000 114.3%/yr Public Records
    Jun 28, 2001 Sold $36,000 -26.2%/yr Public Records
    Apr 16, 2001 Sold $38,250 — Public Records

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