We're heading up to San Marcos for this post as we focus on a home that was purchased in early 2005 that's been listed and relisted a few times.
Also noteable as that the houses on each side of this property are also for sale.
Type: Listed on MLS(#066078490)
Resale Price: $887,500
(Range priced $925,000 to $850,000)
Cost: $931,887
Loss@6% Sales Expenses: $97,637
Loss%: 10.48%
Purchase Date: 03/03/2005
Holding Period: 18 months and counting...
Bedrooms: 5
Bathrooms: 4.5
Square Feet: 3,607
Purchase Details: view
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5 comments:
This is not the end of it.
Idiot who just bought it for $887K will sell it for $700k in 18 month.
I don't think it has sold yet.
If you look at the posts that point out specific properties, they will either indicate "Listed on MLS(#066078490)" or "Closed Sale".
This one is still listed.
I know this development--it's a nice property in a respectable neighborhood--but the builder (Pulte) has slashed the asking prices on the few remaining unsold homes by >$120,000--and these have nice ocean views, unlike this resale.
Poor flippers--the builder's going to sell no matter what!
standard pacific has a project just a couple of blocks down from this house of 132 homes, they maybe sold 20 so far. the largest model is at 3,400 sqft and asking $720,000.
of course this isn't an apple to apple comparison, but still, over $150,000 difference in asking price over a very similar home near by. I don't think they'll see a buyer anytime soon.
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