Friday, November 30, 2012

Liars, Damn Liars and Realtors

In that order.  Check out this gem: 1480 Twin Lakes Rd
So?  Tiny little mountain cabin.  Here's the listing:

Home for sale in Wrightwood, CA 180,000 USD

PUT THIS ONE ON YOUR LIST OF MUST SEE! NICE OPEN FLOOR PLAN! COZY DECK THAT OV
ERLOOKS THE GOOD SIZED BACKYARD. 2 BEDROOMS AND ONE BATH UPSTAIRS. 2 BEDROOMS (ONE MASTER WITH WALK IN CLOSET) 2 BATH IN THE FINISHED BASEMENT. ALONG WITH A ROOMY LIVING ARE THAT IS SET UP FOR A HOME THEATER. OUTSIDE EXIT FROM BASEMENT. SEPTIC IS ONLY A FEW MONTHS OLD! LOTS OF ROOM TO PARK! LAUNDRY ROOM IN BASEMENT! BEAUTIFUL FIREPLACE IN LIVINGROOM!! Brokered And Advertised By: Platinum Realty West Listing Agent: Dina Velez 
 
Most recent information provided by Platinum Realty West via Point2 on 11/29/2012 10:06 PM:
  • Price: $180,000
  • Status: For Sale
  • MLS/Source ID: 422162
  • 4 Bedrooms
  • 3 Bathrooms
  • 2,080 sqft
  • Single-Family Home
  • Built In 1980
  • Zip: 92397
  • Parking: None None
Official property, sales, and tax information from county (public) records as of 08/2012:
  • Single Family Residential
  • 2 Bedrooms
  • 1 Bathroom
  • 1,040 sqft
  • Lot Size: 5,100 sqft
  • Built In 1980
  • Stories: 1 story with basement
  • Heating: Central
  • Roof: Composition Shingle
  • 4 Rooms
  • Construction: Frame
  • Basement: Basement (not specified)
  • Fireplace
  • County: San Bernardino
  • Tax Rate Code Area: 101-033
 See a discrepancy?  Basements and Attics are not square feet of living space!  Oh and ALL CAPS is lame.  

12 comments:

Cinco-X said...

I notice this is in a National Forrest. Is this one of those properties where the land is leased from the government bu the house if "owned" by the buyer? I've see that arrangement in CA properties, and often wondered how a bank would ever finance it...maybe the lease is sufficiently ironclad and transferable that the banks have no problem with it...I'm curious...

Thomas Stone said...

Dawg, simple ignorance. And quite likely a lack of permits. You CAN fix stupid, but for some strange reason they call it homicide.

Cinco-X said...

http://www.businessinsider.com/the-windows-8-sales-data-is-in-and-its-horrible-news-for-microsoft-2012-11

Wishing for hot links...pertinent to a few posts back...

Cinco-X said...

Ugg...wishing for edits as well...

Rob Dawg said...

This is in the village. Normal property ownership applies. There are a few dozen cabins nearby that are, as you note, on forest land with long term land leases. I saw one recently that only had 20 years to run so it might be that the forest service isn't extending and plans on taking them back.

Cobradriver said...

The fun starts when a dumbass submits an offer and then the appraiser uses the 1K sq/ft number.

Sandy has told all kind of stories about that happening.

BTW,I'm starting to see decent places back under/right at 30K again. I'm also getting an actual appraisal done on my place around March. It'll be interesting to see where I end up...

Chris

Thomas Stone said...

Cobradriver, That's what an appraiser should use. You can find the USPAP (Uniform Standards of Appraisal Practice)on line and that's what appraisers are supposed to follow. Some agents get upset when appraisers do what they are supposed to do. I don't, if it's a good appraisal ( Many are not). I'll use it to try to get the price down.

w said...

Chris,

Decent homes for 30k!!!

Whereabouts?

Rob Dawg said...

Port Charlotte, FL. About 20 miles inland from my mom.

Rob Dawg said...

Tom,
I've seem appraisals just all over the place. My dawghaus is an appraisal nightmare. It would probably be worth more as a lot and existing permit for 4 bedrooms, 3 baths, etc. The school fees for new construction are obscene and the lot is to die for. Still the appraiser will count sq feet and go 4 miles to pull a comp from somewhere in the city and pro rate next to nothing for the lot.

Cobradriver said...

Shit Rob...I can see Russia from here...

I ain't no 20 miles inland.

:)

I actually live right next to a canal that goes to the GOM,W. I'm not actually on the water. While it would be nice to be on the water,I like the whole no payment thingy.

Chris

Thomas Stone said...

Dawg, the Appraisal Biz is broken. Requiring Appraisal Management companies (Guess who owns them)to be used cuts the amount of $ actually recieved by the appraiser by about 40%. And it adds a layer of deniability to the lenders when they blackball appraisers who give the "Wrong" values. If you look at their overhead there's no way on earth to do a good appraisal for the fees they get.