Are the Crosby/Santaluz fees bugging you, and you want a more-reasonable one-story house?
Here’s the other end of what buyers are experiencing these days.
A flipper in La Costa Valley (who just paid $575,100 at the trustee sale) thinks you won’t mind this:
Why in the world would a flipper think he can turn a 125-150K profit just because they made a few small upgrades, new paint and a rug cleaning? They were so cheap they didn’t even replace the front door. People will be immediately turned off when they see that.
I use flippers as one of my “finally hit the bottom/time to buy” metrics. When they are almost all gone from the market, that will be a buy signal. That could take 1-3 more years.
What do the comps say it is worth? Looks like the buyer only spent a few hundred dollars, so he/she must have thought it was a smoking deal at the courthouse.
Other than a “really” old home, why would anyone not have a dishwasher? That’s just crazy.
This must be the cheapest flipper yet. They didn’t even replace the batteries in the smoke alarms….WOW! The nerve of these people…
Comps?
This smaller one-story just closed up the street next door to the school for $500,000:
http://www.redfin.com/CA/Carlsbad/7872-Paseo-Tulipero-92009/home/4081226
Although this one is part of the continued murkiness permeating through the industry – it just showed up sold. It wasn’t a distressed sale, but was kicked around last year on range pricing for a couple of weeks here and there. If it would have hit the open market today, they may have gotten more than $500,000, but being next to the school is a hurdle.
Is it safe to buy in La Costa Valley with the soil problem there? The area would cover south of La Costa Ave. north of Barcelona, east of El Camino Real. Seems the saturated soil causes water pooling around the foundation of some houses. Is it true or just rumors?
It’s true, there was a push to file a class-action lawsuit but I don’t know if it went through.
Extensive ground work has been done to a few houses – you have to pick your spots.