Written by Jim the Realtor

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October 1, 2009

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Every journey back starts with the first step….

19 Comments

  1. doughboy

    Vista! Gotta love it!! Value around every corner!!!

  2. JAP

    Yikes!

  3. redys

    LAMO. Then cry.

  4. Desert Realtor

    JtR, just curious, do you know the original sale price the ATM balance?

  5. tj & the bear

    “This ain’t that bad.”

    Yes it is! Hope you’ve had all your shots; maybe those retired marines can get you some MOPP 4 gear for future visits to gems like these.

    You’re right, though; it’s practically a large duplex. A contractor could whip that place up and start collecting decent rent in no time. I’ll pass, though. 😉

  6. Jim the Realtor

    Thanks for the compliment yesterday tj, I think a difference here is the lack of ads everywhere you look.

    I went to the Padres vs Dodgers last night, and was reminded of how the constant barrage of ads is so depressing.

    Padres are looking tough next year!

  7. Jim the Realtor

    Sales price was $470,000, financed 100% in 10/04. Pulled out another $50,000 before going down.

  8. 3clicks from da beach

    You aren’t a fatty until you jump for joy and get stuck.

  9. François Caron

    You? Doughy? You’re as skinny as a European! 🙂

    The place reminds me of an apartment I once had. Moldy and a complete wreck. I now see those places as potential tear-downs.

  10. Rob Dawg

    “Illegal unit.” Whereinthehell did you learn to speak RealtoreseÂŽ Jim? That buyer will verify bonus construction has income opportunity written all over it.

  11. d^2

    love it! franky went to town on this one!

  12. Local Boy

    Can you say “Bootleg”

  13. Art Eclectic

    With a major remodel, an ambitious homeowner could turn that downstairs into a great home office/storage space (and be able to use the garage as a garage) while making the upstairs a private family space. At least that’s what I saw when I watched the video. Storage space in the former “kitchen” and office space in the other “bedrooms.”

  14. Snohomish Sue

    I’d love to see a video of this after it’s ready for resale………..dump to dream??? Oh the potential!

  15. RBRenter

    Reminds me of the old appraiser’s joke:

    “You know Frank Lloyd Wright?”

    “Yeah”

    “Well this is Frank Lloyd WRONG.”

    Ultimate man cave downstairs.

  16. Erin

    I like the arrows drawn on the walls. very considerate to point out the problems to potential buyers.

  17. osidebuyer

    WOW. $520K borrowed on that? Seems to me this is the biggest off-peak decline we’ve seen, percentage wise.

  18. osidebuyer

    Oh and I loved the Frank Lloyd Wright comments, I was laughing several times.

  19. Anonymous

    osidebuyer-Not even close. The world record for decline from peak is 92.8%, found in this Palm Springs house:

    http://www.redfin.com/CA/Palm-Springs/398-W-Palm-Vista-Dr-92262/home/6044258

    Look at this crazy shit:

    Property History
    Date Event Price Appreciation Source
    Apr 30, 2009 Sold $32,500 -87.1%/yr Public Records
    Feb 08, 2008 Sold $399,479 -8.3%/yr Public Records
    Sep 22, 2006 Sold $450,000 28.4%/yr Public Records
    Sep 20, 2005 Sold $350,000 63.3%/yr Public Records
    Jul 30, 2004 Sold $200,000 89.0%/yr Public Records
    Oct 06, 2003 Sold $119,000 24.3%/yr Public Records
    Oct 11, 2002 Sold $96,000 114.3%/yr Public Records
    Jun 28, 2001 Sold $36,000 -26.2%/yr Public Records
    Apr 16, 2001 Sold $38,250 — Public Records

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Jim Klinge
Klinge Realty Group

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