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ElPato
Posts:378
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| 07/27/2008 7:57 AM |
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55% off 2006 prices for a SFR
http://sdlookup.com/MLS-076075912-6566_Herrick_St_San_Diego_Ca_92114 |
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ElPato
Posts:378
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| 07/28/2008 11:31 AM |
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61% off 2005 prices for a SFR. Below 2001 price.
http://www.sdlookup.com/MLS-081029443-2009_Paddy_Pl_Escondido_Ca_92027 |
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jakob
Posts:549
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| 07/28/2008 11:33 AM |
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| These are getting ridiculous. 89% off? WTF. |
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ElPato
Posts:378
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| 07/28/2008 11:34 AM |
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58% off 2005 prices for a SFR.
http://www.sdlookup.com/MLS-080042781-591_Copper_Dr_Vista_Ca_92083
Still not back to 1995 prices, today this would be around $100k. |
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ElPato
Posts:378
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| 07/28/2008 11:36 AM |
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>> These are getting ridiculous. 89% off? WTF.
Jakob, agreed.
What is wrong is the loose lending standards. If banks had to eat this, they would pay more attention. Instead, this will be dumped on FHA/Fannie/Freddie. Until they colllapse, requiring a multi-trillion dollar bailout. |
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ElPato
Posts:378
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| 07/28/2008 11:40 AM |
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57% off 2006 prices. Below 2001 prices.
http://www.sdlookup.com/MLS-080052714-215_Guajome_Vista_Ca_92083 |
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ElPato
Posts:378
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| 07/28/2008 11:57 AM |
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55% off 2006 prices for a SFR. 41% cut in asking prices since February. This is an unprecedented collapse. I have to wonder if the financial system can take it.
http://www.sdlookup.com/MLS-076075912-6566_Herrick_St_San_Diego_Ca_92114
Price Reduced: 05/19/2008 from $253,000 to $195,000
Price Reduced: 04/23/2008 from $265,900 to $253,000
Price Reduced: 03/14/2008 from $279,900 to $265,900
Price Reduced: 02/15/2008 from $329,900 to $279,900 |
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Brian
Posts:2614
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| 07/28/2008 12:57 PM |
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Thanks for the period updates. They are very revealing.
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harpca
Posts:82
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| 07/28/2008 3:57 PM |
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07/21/2008 $117,500 2y 3m -68% -39%
04/06/2006 $370,000 2y 11m 90% 24%
04/16/2003 $195,000 n/a - -
http://www.sdlookup.com/MLS-078073176-118_Farland_Dr_Escondido_Ca_92027 |
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BigTrace
Posts:195
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| 07/29/2008 12:01 PM |
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I had to post my own experience here. In Escrow now for this property:
http://www.sdlookup.com/Property-5992089A-12710_Laurel_St_108_Lakeside_CA_92040
Price Drop from Tax day 2005 of over 60%. Will make for a great rental for my daughter and her better half and my new grand-daughter. This is a great property. It was a conversion, but from a newer apartment complex. Owner purchased entire complex in 2004 for 11,520,000 (72 units) which is $160k per unit. Re-did everything including new cabinets, new exterior fencing, landscaping, all new stainless appliances, paint, carpet and then gated everything. Sold all units for $275k+ in a market where everything was 350+. To get this for $110k is even 30% off of what it was as just an apartment. |
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78TTop
Posts:92
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| 07/29/2008 12:17 PM |
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45% off the previous sale. In PACIFIC BEACH.
http://www.sdlookup.com/MLS-080052719-1069_Archer_St_San_Diego_Ca_92109 |
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BigTrace
Posts:195
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| 07/29/2008 12:19 PM |
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Posted By 78TTop on 07/29/2008 12:17 PM
45% off the previous sale. In PACIFIC BEACH.
http://www.sdlookup.com/MLS-080052719-1069_Archer_St_San_Diego_Ca_92109
Something is fishy about this one. There's a whole thread devoted to just this sale. |
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jakob
Posts:549
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| 07/29/2008 12:29 PM |
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| BT, I'm in escrow now too on a house in Lakeside. Great deals out there. Still having issues clearing the title unfortunately. Foreclosed owners had a lot of people after them, one got a 190k lien on the house from a civil judgment. Good luck with your escrow! |
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BigTrace
Posts:195
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| 07/29/2008 12:36 PM |
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jakob
My first house I ever purchased was in Lakeside back in 1989 and I've been in East county ever since. There are many parts of El Cajon I would stay away from, but Lakeside has always treated me well with friendly people, close proximity to the 67 and the 8 and affordable housing. Crazy to me that it gets a bad rap. Good luck to you as well. Mine just went in yesterday after I was informed that I was the successful offereor (1 of 3 offers). It'll close in about 15-20 days after all the inspections and everything is done. My daughter is very excited since she lives in the El Cajon "ghetto" as she calls it. I agree and have been wanting to find her a deal she can live with in a nicer area of town. Bingo!! |
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jakob
Posts:549
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| 07/29/2008 12:48 PM |
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| I've been in escrow now 18 days and the seller and title firm are still struggling with delivering a clear title. I've been ready on day 3 after I had the inspection to wire the purchase money. It's frustrating as hell waiting. |
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BigTrace
Posts:195
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| 07/29/2008 12:51 PM |
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| At least my escrow paperwork says 15 days or sooner, but there are no penalties to the bank (seller) so they can drag their feet if they want I guess. |
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jakob
Posts:549
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| 07/29/2008 12:54 PM |
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| Yeah, my contract has a penalty for ME of $100 a day if I drag it out past 20 days. Nothing for the seller, tho. I wonder if they would have agreed to the same per diem. |
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BigTrace
Posts:195
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| 07/29/2008 12:55 PM |
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| Same here, but I've got 15 days instead of 20. Mine is through Chase Bank so we'll see. |
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jakob
Posts:549
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| 07/29/2008 1:03 PM |
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| Seller on mine is Citi. You'd think they would want to get rid of these houses quickly... |
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ElPato
Posts:378
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| 07/30/2008 10:49 AM |
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61% off 2005 prices for an SFR.
http://www.sdlookup.com/MLS-080053234-1027_Rhea_Vista_Ca_92084 |
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