We saw the Pacifica REO on the previous post, and here are three four other REOs around the same price point (half-million) in Encinitas. Once they are closed, they should make for excellent double-dip banter if they end up selling for well under list price.
But take a good look – would you be surprised if you hear that they end up selling for less?
1 Yapper = $10k Negative Equity
BTW, it probably cost more to put up those signs than it would have been to just turn on the water.
Banks are so stupid.
And people think they are intentionally holding off inventory. I have a hard time believing that “intentional” part.
Chuck
In my book, those are $300k – $350k houses. I cannot remotely fathom paying half a million dollars to return to the 70’s.
This is what I am talking about with “difficult” real estate in San Diego. It was the dark ages of homebuilding – the 1970’s and early 80’s.
These homes should be torn down.
No wonder places like Carmel Vally are so popular.
And sometimes people wonder why I whine 😉 about the inventory as a buyer. I visited REO #2 when it was still a short sale and hated it then. How is it the owners decided to rip out the master bath vanity and put in a 1/2 vanity and a bidet! Very poor decision making, and perhaps indicative of their overall ability to make decisions and prioritize; considering they no longer own the house!
Thanks Jim!
If you really want to see the inside of the Bluffcrest home, the slider is open. But you’ve seen (and smelled) it all before. There is mildew behind the tiles in the showers (some had fallen off) and obvious water damage repairs to the bottom of walls.
I asked a friend about the driveway cracks and he said you can usually tell if cracks are from tree roots by looking at the direction of the cracks. In this case, the cracks would move from the left to the right, not top to bottom. Also, it would probably affect just one section of driveway, not from the street all the way into the garage. Who knows? I’m not sticking around to find out 🙂
I work for a mid size commercial bank and we recently took back a small commercial building in SW Riverside County. The water utility will not give us water service until we pay unpaid bills with penalties and interest from the prior owner, including a lock out fee and other penalties (a ‘cut lock fee’). This is the first time I have had a utility refuse service, so our lawyers are now working this case. I have a property manager who is filling a 5 gallon bucket from the neighbor’s hose bib to manually flush the toilets. I was there this morning and got to do this duty as both restrooms were piled with crap. We changed the locks, but have no idea who is doing this. We can’t believe it would be a commercial agent showing the building, but no one else has access.