the owner of that house has some real class. I wonder what they got for the cabinets on craigslist?
GameAgent
on April 6, 2012 at 7:24 am
Would the lender really approve a short sale @ $499k? That’s about a 70% loss.
livinincali
on April 6, 2012 at 7:25 am
You could certainly see this one ending up as a flip. Get it for $550K cash and sell it for $650-675K after putting in $30-50K.
Ocrenter
on April 6, 2012 at 7:36 am
If sue wanted the kitchen cabinets, then take the entire thing! Don’t leave it half way done. At least the new owner would not have to pay for demo work.
Jim, how much was the amount owed? Was it 80/20 financing at the peak as well? I can’t imagine the bank would allow such a steep haircut and not ask a single question in regard to the missing cabinets.
Danniel(theotherone)
on April 6, 2012 at 8:14 am
I thought you couldn’t get financing without a kitchen.
Correct, she was taking cash offers only – and had more than a dozen.
The first mortgage was $1.13 million orginally, but had a NatCity second for $100,000 too.
I think it will close in the mid-to-high $500,000s, or possibly over 6? The house next door is the same model and was being offered at the same time for $675,000, and it went contingent too.
Jeeman
on April 6, 2012 at 10:36 am
I remember going up there in Dec 2006 to look at the last set of homes in Bonsall going for $1.3-1.4M. They were out in the boondocks, on a hill, with a stellar view. I don’t know who would buy a home that far out for that much money. The gas costs to commute to a place in San Diego proper is going to run $10-15 each way.
Me thinketh you use the term “realtor” loosley!!
the owner of that house has some real class. I wonder what they got for the cabinets on craigslist?
Would the lender really approve a short sale @ $499k? That’s about a 70% loss.
You could certainly see this one ending up as a flip. Get it for $550K cash and sell it for $650-675K after putting in $30-50K.
If sue wanted the kitchen cabinets, then take the entire thing! Don’t leave it half way done. At least the new owner would not have to pay for demo work.
Jim, how much was the amount owed? Was it 80/20 financing at the peak as well? I can’t imagine the bank would allow such a steep haircut and not ask a single question in regard to the missing cabinets.
I thought you couldn’t get financing without a kitchen.
Correct, she was taking cash offers only – and had more than a dozen.
The first mortgage was $1.13 million orginally, but had a NatCity second for $100,000 too.
I think it will close in the mid-to-high $500,000s, or possibly over 6? The house next door is the same model and was being offered at the same time for $675,000, and it went contingent too.
I remember going up there in Dec 2006 to look at the last set of homes in Bonsall going for $1.3-1.4M. They were out in the boondocks, on a hill, with a stellar view. I don’t know who would buy a home that far out for that much money. The gas costs to commute to a place in San Diego proper is going to run $10-15 each way.
A local high income professional would buy it.
a local high income professional will likely not want to live out in Bonsall.
4 acres? Is most of it a downhill cliff?