Browsing all posts in Bubbleishis Schadenfreude.
I profiled this butt-ugly house on Huron Ave a while back. They had been trying to sell it off-and-on for more than 5 years.
The highest asking price was 947K as far as I can tell. It finally sold recently for 774K. Still insanely overpriced, but certainly more in line with 2004 prices on this street. I know this because I lived in a house on this street back in 2004 that sold for 805K – and it was smaller. Granted, it had more curb appeal, but it was definitely smaller in terms of square footage. Continue reading →
I profiled this house on Tilden Ave in Culver City a few months ago.
They started by listing it at 849K in February, dropped it to 799K in June after there were no takers for four months. According to Zillow, it did finally sell, for 785K.
Talk about buying at the “top” of the market (more like the precipice of the market).
Zillow is already estimating its value at 775K (although the range goes higher). Remember, this house is LESS than 900 square feet. Doh!
No doc no asset verification no sense whatsoever
Have they even wondered about the possibility of ending up on this website?
You might laugh if this weren’t so pathetically transparent…another schill with his take:
Don’t try to tell Dick Gaylord it’s a down housing market, or that there’s a housing slump – and don’t dare mention the word “bubble.” The congenial Long Beach man, who will assume the role as the nation’s head Realtor next year, will argue vehemently that the market “isn’t down but just returning to normal.” He has more than 30 years experience, and now the country’s largest trade organization, to back him up.
To back him up? How about reality. I guess all those people in foreclosures aren’t really losing their houses, they are regaining their rental apartments.
Desperately grab for any way to spin the data, that’s what. Continue reading →
UPDATE: LAST SALE: $689,000 (08/26/2008). Ouch.
You don’t see this that often – maybe moreso in the future – a short sale in Bevely Hills. Continue reading →
Short sale: 11913 MCDONALD ST, Culver City, CA 90230
This 3 bedroom, 2 bath, 1280 square foot house sold for 703,500 in mid 2005. Now it is listed as a short sale for 675K.
Two condos on Green Valley Circle are also currently advertising as short sales.
4910 Sawtelle is also listed as a short sale. However, it sold back in 2005 for 645K and they are asking 839K – maybe they HELOC’d their equity, hence the need for the sort sale.
I would expect 90230 to lead 90232 in these types of sales, as 90230 borders some sketchier areas of LA.
This gem is burned out according to the description. Completely burned out. So it’s a shell of a house. They want close to 300K for it. The delusional zillow.com values it at 436K. The last time the house sold, in 2001, it sold for 36K. Fundamentals, schmundamentals.
I especially love their “fat lady sings” cartoon to go with it. With the rating agencies no longer in on the Ponzi scheme, it can only go downhill from here…and fast.
