Tuesday, November 13, 2007

Flopper on 11th

Let's interrupt updating the archives with this new-to-Westside Bubble attempted flipper not succeeding in Sunset Park. It's a 3 bed / 2 bath at 1101 Cedar St., on the corner of 11th St., asking $1,399K. You can kinda see it behind the trees.

The description includes (another SHOUTER): "STUNNING SUNSET PARK CONTEMPORARY REMODEL. BEAUTIFULLY REDONE W/AN OPEN FLR PLAN THE HOME FEATURES: DARK WALNUT FLRS; REMODELED KIT W/GRANITE, MAPLE CABINETS & STAINLESS APPLIANCES; & REMODELED BATHS W/ LIMESTONE & SLATE SURFACES & FLRS. ... 50' PLASMA TV IN LIV RM IS INCLUDED W/ ALL APPLIANCES...." [Really, a 50-foot TV?!]

It previously sold 12/16/05 for $1,169K, then listed 4/11/07 for $1,580K. Reductions to $1,499K in May, and $1,475K in July, and finally to the current $1,399K haven't moved it. D'ya think all the traffic on 11th has something to do with it?

11 comments:

Anonymous said...

Very busy street.

Anonymous said...

I want a 50-foot TV. That is probably with $1.4M by itself.

Anonymous said...

Oops, I meant "worth" not "with."

WarChestSM said...

1.1% taxes + 6.5% opportunity cost/interest cost gives us a monthly nut of about $7,400. That is over $170,000 for the holding period to date.

Then there are the remodeling costs that were sunk into this place...

Then there is the roughly $70,000 cost just to sell the place.

The loss that these costs would produce can partially be offset with the tax deduction and the fact that these people may have lived there for most/all of the holding period. Although I don't see a homeowners exemption claimed on the assessors site which would make it seem they did not live in the unit.

The big variable is how much they spent on the remodel.

Anonymous said...

Look all of you - this place is clearly worth the 580K these nice folks are asking for it!

Ooops, I missed the "1" in front of the 580K - my bad.

Anonymous said...

homeonwers excemption is minimal- maybe $60. thats why no one bothers

Anonymous said...

Unfortunately for the floppers most buyers who plan to live and not just invest in a house don't really care to cover holding costs of the previous owner. Does anyone really want to pay more than $800K for a house on 11th Street? Not only is it super-busy, it's loud and kind of dangerous because people drive really fast on it.

Anonymous said...

Can someone explain this to me: if it sold on 12/16/05, at the height of the bubble, for $1,169K, what on earth makes the sellers think they can now sell at $1.4 million? Any buyer who does the homework will use the $1.169 number as the baseline max to pay for the house, and see how much they can knock off of that bubble price. But $1.4?? Is there really a sucker out there who will pay $230,000 over the price paid at the peak of the bubble?

Anonymous said...

In addition to the crazy traffic of 11th St., you also have to contend with the somewhat scary intersection of Pico & Lincoln. And I don't neccesarily mean traffic. With the CLAIRE center located on the northwestern side of that intersection and the largest needle exchange center located on the southwest side, you deal with many difficult people in the area.

It's a good time to buy, or sell, or both said...

"if it sold on 12/16/05, at the height of the bubble, for $1,169K, what on earth makes the sellers think they can now sell at $1.4 million?"

It now has granite counters. Enuf said.

sexy said...

情趣用品,情趣用品,情趣用品,情趣用品,情趣用品,情趣用品,情趣,情趣,情趣,情趣,情趣,情趣,情趣用品,情趣用品,情趣,情趣,A片,A片,A片,A片,A片,A片,情趣用品,A片,情趣用品,A片,情趣用品,a片,情趣用品

A片,A片,AV女優,色情,成人,做愛,情色,AIO,視訊聊天室,SEX,聊天室,自拍,AV,情色,成人,情色,aio,sex,成人,情色

免費A片,美女視訊,情色交友,免費AV,色情網站,辣妹視訊,美女交友,色情影片,成人影片,成人網站,H漫,18成人,成人圖片,成人漫畫,情色網,日本A片,免費A片下載,性愛

情色文學,色情A片,A片下載,色情遊戲,色情影片,色情聊天室,情色電影,免費視訊,免費視訊聊天,免費視訊聊天室,一葉情貼圖片區,情色視訊,免費成人影片,視訊交友,視訊聊天,言情小說,愛情小說,AV片,A漫,AVDVD,情色論壇,視訊美女,AV成人網,成人交友,成人電影,成人貼圖,成人小說,成人文章,成人圖片區,成人遊戲,愛情公寓,情色貼圖,色情小說,情色小說,成人論壇

免費A片,AV女優,美女視訊,情色交友,色情網站,免費AV,辣妹視訊,美女交友,色情影片,成人網站,H漫,18成人,成人圖片,成人漫畫,成人影片,情色網

視訊聊天室,聊天室,視訊,,情色視訊,視訊交友,視訊交友90739,免費視訊,免費視訊聊天,視訊聊天,UT聊天室,聊天室,美女視訊,視訊交友網,豆豆聊天室,A片,尋夢園聊天室,色情聊天室,聊天室尋夢園,成人聊天室,中部人聊天室,一夜情聊天室,情色聊天室,080中部人聊天室,080聊天室,美女交友,辣妹視訊