Month: June 2011

Spelling Mansion

From cnbc.com: Imagine you are 22 years old, getting married, and struggling to find a new home. It helps when Daddy steps in.  Just ask Petra Ecclestone. According to the Wall Street Journal, Ecclestone's father, Formula One boss Bernie Ecclestone, has bought his...

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YOY May Sales Tumble

From Dataquick.com: La Jolla, CA---Southern California home sales held at a three-year low last month amid a sluggish move-up market and record-low sales of newly built homes. The median sale price fell year-over-year by the largest amount in 20 months as buyer...

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Not a Lull Yet

Here's the wrap-up of my open house yesterday in Mission Hills, which went better than expected, but still facing a big hurdle with the foundation. Sellers in this predictament should accept their fate, and prepare for lowball offers. Lowering the price last week by...

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Re-Ignition

There is peak urgency during the first week of a listing, but after that they get stale quickly. Consider the Mission Hills REO on Hunter St., originally listed for $429,900 on May 19th.  We had four offers come in the first week, and after a round of...

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REO Country

Demand is strong for newer single-story custom homes on decent-sized lots, with no Mello-Roos. If you want to be in our regular target area, North SD County Coastal, be prepared to spend $1,000,000+.  If you'd rather spend less and aren't that concerned about the...

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Another Flipper

The guy from the TV show, Flip This House, wants to show you how to do it too. He has a seminar tomorrow to discuss how he is going to make $150,000 profit on this house at 1036 Edgemont in South Park. The house had been purchased at the trustee sale by our favorite...

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