Monday, March 09, 2009

Market Leader

1143 Corte Riviera Camarillo, CA 93010
Price: $669,000
Beds: 4
Baths: 3
Sq. Ft.: 1,928
$/Sq. Ft.: $347
Lot Size: 3,753 Sq. Ft.
Property Type: Detached, Single Family Residence
Year Built: 1996
On Redfin: 6 days
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Okay. Stop laughing. After all it has only been on the market for a week. Maybe they feel the spring bounce in the air. 1143 Corte Riviera. What about something... oh I don't know. Maybe nearby, maybe remotely similar, that kind of stuff? How about;

1108 Corte Riviera Camarillo, CA 93010
Price: $549,900
Beds: 4
Baths: 2.5
Sq. Ft.: 1,928
$/Sq. Ft.: $285
Lot Size: 3,204 Sq. Ft.
Property Type: Detached, Single Family Residence
Year Built: 1996
On Redfin: 170 days
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One hundred and seventy days and $100,000 less. Here's the listing and sales history:

Property History for 1108 Corte Riviera
Date Event Price
Mar 07, 2009 Price Changed $549,900 cut and run
Feb 11, 2009 Price Changed $649,000 mayday, mayday
Dec 11, 2008 Price Changed $699,000 time to move this sucker
Sep 20, 2008 Listed $775,000 hoping for a payday
Aug 01, 2003 Sold $500,000 8.3%/yr
Nov 21, 1997 Sold $318,000 sold new
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Poor 1143 woke up yesterday at least $100,000 poorer than when he went to bed.

16 comments:

Sweet Cashback said...

Only the garage of the FIRST house will fit a 20ft boat, Escalade AND quad. That's the reason for the extra 100K....

Jean ValJean said...

Dawg: what did you mean by a "currency event" in your last posting?

Rob Dawg said...

Dawg: what did you mean by a "currency event" in your last posting?

Iceland x 10 = Pound
Iceland x 100 = Euro
Iceland x 1000 = Dollar

Either a panic or something else is going to cause herd panic and there will be bodies piled up at the exits of the currency exchanges. And it could be an exodous or an influx away from other currencies.

Lance Zambezi said...

That .5 bath is worth at least six figures . . .

Rob Dawg said...

Good one Lance.

Truth is they are model matches and one (only one?) of the agents is incompetent. 2.5 baths in each.

s said...

There's an extra 550 square feet of grass to mow/concrete to sweep.

That's worth at least $100k.

Rob Dawg said...

1184 Corte Riviera Camarillo, CA 93010
Price: $531,900
Beds: 3
Baths: 3
Sq. Ft.: 1,623
$/Sq. Ft.: $328
Lot Size: 2,894 Sq. Ft.
On Redfin: 6 days

Peripheral Visionary said...

Lance beat me to it on the going price for 0.5 bath.

But why should real estate prices be at 2003 levels when the stock market is heading to 1997 levels and counting? I think even the second seller has some distance to go on getting a real price . . .

Rob Dawg said...

I think even the second seller has some distance to go on getting a real price . . .

I think the third seller is even more screwed. $328/sf? WTF?

Pleather Murse said...

I'm seeing houses comparable to either of these two going for about $200K in Phoenix.

Ed S. said...

Dawg,

It's all anchoring, wishing prices, and unrepayable mortgage debt (completely OT -- is there a journalism bot that inserts the phrase "hurt my credit score" in every article about a broke homedebtor?).

Speculators holding busted flush houses; underwater owners; banks that don't want to write down to true market value.

Half a million+ simoleons is A LOT of money and a house is no longer a worker-bee's equivalent of a hedge fund. So taking you $79,380 AGI and allocating oh, say, 50% of that to your house + tax doesn't seem like such a great investment.

Even $300k in 1997 was a lot (for an 2000 sq ft house).

I think even the saps are getting the idea. My call: $164,888 (Mr. Valentine has set the price)

Rob Dawg said...

Damn your eyes Mr.Ed S,
I was just about to post a "Mr. Valentine has set the price." post. It was a bit more market but now it looks like a pathetic shadow.

Hat tip sir.

w said...

With the dollar strengthening I am really worried about gold.

NOT

tj and the bear said...

Damn, I think I like this "Mr. Ed S".

Any seller too far above $100/sf is suffering severe hypoxia... and, as typical, don't even realize it.

Bill in NC said...

Forget a currency/bond event, how about an old-fashioned trade war?

http://news.bbc.co.uk/2/hi/business/7934583.stm

Looks to me that China's recent naval brinkmanship have it flirting with the loss of MFN status.

MANY in the current majority political party would love that.

Lost Cause said...

Camarillo, indeed!