Bang for Buck

Written by Jim the Realtor

April 5, 2012

We had a number of requests to show reasonably-priced homes. 

Do you mind going out a little further?

They are improving the 76 highway, and access to Bonsall will be much easier before long.

Map.

Redfin listing, now contingent.

 

11 Comments

  1. Gary Thompson

    Me thinketh you use the term “realtor” loosley!!

  2. avgjoe

    the owner of that house has some real class. I wonder what they got for the cabinets on craigslist?

  3. GameAgent

    Would the lender really approve a short sale @ $499k? That’s about a 70% loss.

  4. livinincali

    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.

  5. Ocrenter

    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.

  6. Danniel(theotherone)

    I thought you couldn’t get financing without a kitchen.

  7. Jim the Realtor

    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.

  8. Jeeman

    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.

  9. george3

    A local high income professional would buy it.

  10. ocrenter

    a local high income professional will likely not want to live out in Bonsall.

  11. New To LA

    4 acres? Is most of it a downhill cliff?

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