This is a two-part cruise around the 92067 to see if there is more hope that ranch properties might be slipping closer to the $1,000,000 mark. Jeeman had seen this too, and sent it over when the price was $999,000 to $1,350,000, but by the time I arrived, the price had already been raised to $1,200,000 to $1,350,000.
Another agent had gotten there first, and was marveling at the oppotunity. Most agents try to strut their stuff in a competitve situation like that, but I play stupid, hoping to learn a little something when they let their guard down. He starts raving about what a great buy this is, and then takes the key with him when he leaves, saying he’s just going to make a copy.
It looks like the sellers have abandoned the house, and hopefully they don’t mind if they get a little extra exposure here – if they do, it’ll be removed:
Dude, he took the key?? So that no one else will be able to get their buyers inside? (why would he need a copy?) The sellers should thank their lucky stars you took this video….
cara – i was stuck on they key comment too. stunned. i bet he’s got quite the key collection.
“He starts raving about what a great buy this is, and then takes the key with him when he leaves, saying he’s just going to make a copy”
This is hilarious!What a shiester!
JTR and commenters-
will SD housing bottom out in 2 years?
what do you think:
http://www.doctorhousingbubble.com/
Jim:
Answer to your question: Maybe in the loan business? 2007, things were roaring and maybe someone flush with killer earnings from prior years and a hopeful disposition decides to gamble big on a mansion.
Just one theory. I knew several like that.
Chuck
wincompetent,
“will SD housing bottom out in 2 years?”
House prices will fall when interest rates go up.
Because banks control the federal reserve I don’t foresee interest rates going up any time soon. Once banks have offload as much junk debt as possible on the US gov interest rates will start going back up.
Mortgage delinquencies hit a a recored high just announced today and mortgage applications at a 13 year low. This is nationwide, but how much longer will the mask stay on? The Fannie and Freddie news of needing and additional 18B l at the end of last week barely made the news…
Holy smokes, that’s a good deal. Look at the price of lots in RSF. If I weren’t eyeballs deep in my own build, I’d definitely consider this one. Hell, if it sits on the market for awhile, I may buy it anyway!
I agree it is a smoking deal and I would fix up the current house and live in it. Pretty much blows Poway out of the water. If you have 1M+ to spend the deals are a plenty these days.
Yeah, as-is, for $1M, I’d take it. $1.2M might be pushing it, seeing the work that still needs to be done. You couldn’t live there for more than a month without going crazy with the fixing that needs to be done. The area is nice, although I thought it was FBR. If it was FBR, $1.2M-$1.3M is smoking.
I should qualify my comment with the fact that I don’t know much about Del Rayo Estates, so it might be a smoking deal regardless, because I might not appreciate the area so much.
Be sure to check the traffic during drop-off and pick-up times for the school while it’s in session. It used to get backed up, and the residents passing through got stuck in it. Not sure if that’s still the case.
Lovely-an ugly house with a goofy layout in poor condition. But it’s a bargin at only one point two million dollars!
Geotpf, it’s not about the house. That’s worth less than $0.00. It’s about the land. Any lot of that size in RSF is a lot more dough than that and probably needs a mountain of cash for the grading alone. This one you just plow over, pay maybe $50K to get rid of the debris, and start over.
What? That house is not worth less than $0. That is totally livable with some fixing. You’d need serious renovation to make it FBR quality. Dunno about Del Rayo, though. Obviously, it’s hot at $1.2M, since there is so much interest.
Nice coincidence, another Circo Diegueno home on the auction block for Friday….double dip.
They just listed four days ago – for $2.595 with $3.395 outstanding. Good luck to them in stopping the f-train there.