Monday, March 10, 2008
Redfin has the details:
169 LA PATERA DR Camarillo, CA 93010 Price: $819,000
BEDS: 4 BATHS: 2 SQ. FT.: 2,000 $/SQ. FT.: $410
LOT SIZE: 1.49 Acres ON REDFIN: 270 days
NOT A SHORT PAY!! Great Las Posas cul-de-sac location and is a complete fixer upper but has wonderful potential and also includes a barn/storage building. Property is sold AS-IS with no repair or pest control work done. Owners motivated to sell!!! NOT A SHORT PAY!!! -2 additional, contiguous, 1+ acre parcels also for sale (MLS 8000219) for $899,000
What? no pics of this $820k estate? No problem. I've got some.
A little peeling paint, a little structural rot. They did say fixer.
A little settling, a little foundation work. They did say fixer.
No plumbing and it doesn't take a rocket scientist to know the septic has completely failed either.
So, bottom line; this is worse than buying raw land with one exception. you have existing rights to a house and septic and such.
This is the point where Lou chimes in with expansive descriptions of what $820k gets you in suburban Austin.
We'll watch this one to see if some enterprising contractor can turn a deal or whether I pick it up at the tax auction in 2011. My bet is a contractor pays $620k and does a "Santa Monica Remodel" that sits on the market unloved at $1.1m summer 2009.