Wednesday, December 05, 2012

House of the Day, Happy Birthday

12431 Dandelion 92392

Lovely price history.  Purchased new 5 years ago next week for $260,000.

Asking $120,000.  Nota bene, this is a short sale and the price is not real.  More likely they are looking for $160,000.  Short sales suck.  Time, money, effort.  It would have to be a great deal to even bother.

So, how'd this little sip of "Dandelion Wine" work out for the only owner this structure has ever known?  Not so good.  60 months.  $54,000 downpayment gone.  Monthly payments of $1600.  Taxes of... OMG, look at those taxes!  $180/mo.  I guess there is always a price to be paid for living in beautiful Southern California Antelope Valley.  And if it doesn't close in 2012?  That's right taxable gain!  Winning.

And what does the rest of that neighborhood look like?

A disaster.Click to look at nearby for sale wishing prices and rent wishing prices. 


W.C. Varones said...

How you get down payment / loan info? I'm always looking for that. You have paid subscription to a lending database?

Rob Dawg said...

Not in this case. I just ballparked 20% down, prevailing rates of Dec 2007. It doesn't matter as the eventual sales price is so low zero downwould have just moved the loss to more per month and less up front.

I'll be more clear when I ballpark from now on.

Rob Dawg said...

Okay, seems nobody cares about CA residential real estate that massively cash flows.

Happy Hour...Somewhere said...

I do, I do! But since I am in the market for a house and being self-employed, it is more an exercise in futility. And in Temecula, the bubble has re-inflated. I guess a little bit of wine country makes all the difference. #snark