I had a listing last summer at the end of Steinbeck in Carlsbad, a 3,495 square footer with a great view of the ocean/smokestack (like you’ll see at the end of this video).
The seller, who had already moved and wasn’t coming back, really struggled with the idea of selling for only $1,015,000. But he relented after I presented a compelling case, and I promised that in a year or two that he’d be thanking his lucky stars, and that he’d probably want to buy me a beer.
We closed July 29, 2009. Here’s the latest in the neighborhood:
Remember crack kills…
We looked at your listing last summer. At the time, I didn’t know it was yours. Nice home, good back yard, decent enough view. My husband didn’t like the smoke stack that had a flashing light on top of it all night long. It also was a bit far for us from the beach. And for being so far from the beach, you’d think they wouldn’t stack neighbors so close. It seemed to be from a higher quality builder/developer than other homes. Lots of nice touches. He owes you a beer.
Nice no-mow back yard!
But I thought Case-Shiller was +10.6% year over year.
He doesn’t owe you a beer, Jim! He’s owes you a case of your fav…
FTR, 818 is the San Fernando Valley.
W.C. Varones
FTW ++
He owes you a case of beer, after he buys your way at Pizza Port. And then throw in a nice 42″ flat screen, because you saved him from losing $250k.
The lot looks small, and the astro-crete back yard is a little depressing. It also looks like the carpet will need either aggressive cleaning or replacement.
Other than that, the bones don’t seem too bad, and the price per square foot seems reasonable.
Thank you W.C.
Whenever I hear “Spyglass” I think Corona Del Mar… and don’t feel quite so bad about local pricing.
Anyone know anything about short sales?
Can a homeowner negotiate with the bank for a short sale and then sell the house himself or hire an agent after he has negotiated with the bank for a price?
Welcome to the blog, tweeter.
We have documented cases like that where flippers have pulled off that scenario, and made a decent profit. Watch the potential for fraud though, don’t do a double escrow – close on the first deal, then sell.
I hope those C’bad homes drop to 600K then I’m moving in with an old RV and pack of wild dogs to really get’em riled up.
Loved the “ending” of that video..
Who says this isn’t 10% higher YOY? Watch your assumptions..
*Chuckle* I guess this would be under the subject of “undercutting”. I just saw pictures of a 5,693 sf (2008) home (not in San Diego) that is selling for $369K. All of the fixtures have been removed, including the outside kitchen, all carpet, all kitchen and bathroom cabinets and appliances, inset fireplace and large tub–even down to the light switches. The listing says: “The house has wonderful potential”…
Jim, in your real estate adventures, have you ever seen something to this extent in a home of this size?
hey jtr-
been reading your blog for years… you’re famous back here in chicago (nightline?)
see old hickory’s comments on trump tower
http://cribchatter.com/?p=8699#comments
btw, what do you think 7357 Portage Way will really go for… have a contest!
have my eye on that area for when i move back to socal, but was scared by a bad drywall fix on seafarer (not your listing) due to a leaky shower pan (i think that was the story) upstairs
wincompetent –
No one had an opportunity to bid on portage way. it listed with contingent status on day 0.
a drive wall fix is cheap for living so close to the beach.
i remember hearing about a class action law suit against the builder for the shower leakage north of avenida encinas on a bunch of home. but that case was settled a few months ago. they must have blown through their settlement money.
Steinbeck homes have not been moving. http://www.sdlookup.com/MLS-100001287-5141_Steinbeck_Ct_Carlsbad_CA_92008
justme-
i looked at that reo? house on seafarer in early ’09.
guess i was really more scared by what might have been a half baked mold fix behind the wall.
thanks for the update on the lawsuit, hadn’t heard anything on it lately.
don’t even get me started on the train 🙂