I know what you might be thinking.
“Jim, your condo listing looks like a quality buy……but I need a big joint!”
“How much would it cost me to get a large contemporary where I can walk out my backdoor and stick my toes in the sand? And maybe pick up an inflatable raft for cheap?”
$9,200,000 – take a look:
Eh…it’s gonna fall into the Pacific soon from climate change. Or fall into the Pacific when the Rose Canyon Fault goes. Or everyone dies because of Coronavirus after if falls into the Pacific from climate change after the Rose Canyon Fault goes boom. And the neighbors next door in the glorified double-wide—geeesh. No thank you.
1.5 beers? Come back after 6-7 and let’s see what you got!
I’m always curious if people that use the term “money shot” knows it’s origin and what it means?
Funny that realtors think just because something is oceanfront it should command same ppsf whether it’s a renovated very nice house or average or a tear down. And to pay that for Carlsbad when you could get solana-Leucadia for less $ and lower ppsf? Won’t get $7
Tom because it’s the land that provides 90+% of the property value on the ocean front not the house
TheOldMan: as a previous oceanfront owner I respectfully say you’re wrong. The cost and time/hassle to renovate on the oceanfront makes those properties that are perfect THAT much more valuable than those in original condition.
Maybe an inexperienced shopper may think it’s all land value. Until they try to renovate and start to grasp the costs involved. And the years of red tape to do anything.
I could point to a lot of flips that took the time/expense to renovate and increased the profit many fold (with same underlying land value)