Wednesday, September 10, 2008

Craigslist Trolling

There are lessons to be learned from each of these. First up the new urban motif:See the Craigslist hype. "Builder is still selling same model & waterfront location for $800,000 plus! $230,000 REDUCTION from original purchase price!!!"
Talk about flopping. These poor floppers are trying to compete with very same people they've already paid $100s of thousands too much for their product. Selling snowballs in a blizzard.

Next up is best described as "Lancaster South". $494900 Bank Owned REO - Not a short sale. WOW! (Simi Valley) Don't you just love the high tension pole growing out of the roof?

Now let us visit our friend "Vilage at the Park." 2/2, 1200 sq/ft, Village at the Park - $319,900! Quick, whip out your calculator. $266/sf plus HOA plus Mello-Roos. What's the pitch? "Check the comps, this one is ready to be sold! Last exact model match sale was for over $80,000 more!"

Sold 09/12/2005: 391,000
***NOT a Short Sale or REO! Just a seller willing to pass on a great price to any willing and able buyer. Quick response time!***

Next up, the "Corporate Relocation" scam and a new local neighborhood disaster that makes 410 Avocado look good. Be sure to put on your overalls for this one.


wagga said...

First thing I'd want to do is take her's off.

Rob Dawg said...

Hey wagga:

What do you think? $15k?

Lost Cause said...

Seabridge Marina was just voted "California's Best Master Planned Community of 2006." This is the next Santa Barbara.

The next Santa Barbara...ROFL.

Jean ValJean said...

Oh Dawg, you always bring me the best pictures!

Akubi said...

Lose your house, lose your vote

Lex said...

More Sarah Palin pics, please.

Rob Dawg said...

I was gonna lead with the "next Santa Barbara" comment but I wanted people to follow the links and get their own take.

The link in the comments was meant for Wagga as we share a liking of fast Volvos.

Lost Cause said...

There are fast Volvos? The things that I learn on this blog!

Project SCOBY Doo™ said...

Here's a cute pic of Sarah and her family.

sm_landlord said...

Hey Rob,

I heard that those Seabridge condos carry an HOA plus Mellos-Roos of about $900/month. If that's true, that condo is maybe worth $150K at best when you figure the cost of ownership.

That flopper has got to be sweating bullets trying to get out from under that nut.

Rob Dawg said...

Yeah, some are pricy but those are the top floor penthouse types. This is just an apartment where you pay all the rent up front. Surely a lot less but the problem still exists, the City is about to get a surprise in the checkbook. This time is different. They won't ever be able to collect. Worse they are about to discover that the short term COPs market doesn't want their worthless promises of repayment.

1.44MB said...

Rob what's the latest with 410 Avocado? I seem to recall JTR featured it as having been bought by a contractor? Has he finished his vain fix up? Is it primed for NOD no. deux? Actually given its' previous state it probably wasn't mortgagable so someone is going to lose real money.