Thursday, March 04, 2010

Hope Springs Eternal

Feb 06, 2010 Listed $559,900 -- VCRDS #10002095
Dec 10, 2009 Sold (Public Records) $490,000 14.5%/yr
May 29, 2003 Sold (Public Records) $202,500 -31.4%/yr
Oct 08, 2001 Sold (Public Records) $375,000 5.7%/yr
Nov 16, 1993 Sold (Public Records) $242,000 --

I imagine the 2003 price was a divorce split.

2004-2009 Total assessed value: = $541,708 = $552,542 = $563,592 = $574,863 = $586,359 = $495,000

We'll watch this flip closely. Here are the neighboring zillow comps:


Son of Brock Landers said...

first and come on man, the recovery is here, let's revise prices upwards and onwards.

Mr. Outspoken said...

Crash? I didn't hear any crash? What on earth are you talking about?

Jim the Realtor said...

$559,000 - $490,000 = $69,000 gross profit.

$559,000 x 3.5% closing costs = $19,000.

Net profit = $50,000

Have one or two bad comps over the next month and the $50,000 is toast.

It's like anything else - once people have a little success, they get cocky and think they can't miss.

They crave the adrenalin rush - they get hooked.

TJandTheBear said...

I'm waiting for the post that warrants a hot redhead. ;-)

Jean ValJean said...

Who needs a post?

TJandTheBear said...

Not bad, not bad. :-)

W.C. Varones said...

Dude, the Redfin says REO.

You sure that $490,000 sale wasn't the bank taking it back?

Bill in NC said...

What is the S. California obsession with pools?

Without fences they're little more than deathtraps for small children.

TJandTheBear said...

Without fences they're little more than deathtraps for small children.

That's such a load of crap.

W.C. Varones said...

How is that such a load of crap?

From my perspective, a pool subtracts from the value of a house. Even if you don't have small kids, the maintenance costs far outweigh the enjoyment most people could reasonably get out of them. And if you're paying a million bucks for a tract home because it's close to the beach, why not go to the beach?

TJandTheBear said...


Your arguments are all valid and completely miss the point. A kid's accidental death is always tragic, but characterizing pools as a deathtrap is patently ridiculous. Kids have fatal accidents everywhere; pools are just a convenient target of busy-body do-gooders that like to dictate to society.

Property Flopper said...

Pools are easier than planting Venus Kid Traps or hanging very, very large pest strips.

Difficult to keep the yard free of kids otherwise.

Bill in NC said...

Pools are a huge hazard, but the risk is easily mitigated.

Putting a 4 foot fence with a self-closing gate around the pool isn't exactly rocket science, but notice how rarely that is done with a backyard pool.