tag:blogger.com,1999:blog-2983944778720243687.post5344211935191053590..comments2023-11-05T04:24:01.807-08:00Comments on Westside Bubble: Flopper on 11thWestside Bubblehttp://www.blogger.com/profile/03383559105050069002noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-2983944778720243687.post-46187444297422072762007-11-14T15:13:00.000-08:002007-11-14T15:13:00.000-08:00"if it sold on 12/16/05, at the height of the bubb..."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?"<BR/><BR/>It now has granite counters. Enuf said.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-5719144156893248272007-11-14T12:30:00.000-08:002007-11-14T12:30:00.000-08:00In addition to the crazy traffic of 11th St., you ...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.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-58721453452797379912007-11-14T10:47:00.000-08:002007-11-14T10:47:00.000-08:00Can someone explain this to me: if it sold on 12/1...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?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-49396141642091115122007-11-14T08:54:00.000-08:002007-11-14T08:54:00.000-08:00Unfortunately for the floppers most buyers who pla...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.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-59617823607600358502007-11-14T00:28:00.000-08:002007-11-14T00:28:00.000-08:00homeonwers excemption is minimal- maybe $60. thats...homeonwers excemption is minimal- maybe $60. thats why no one bothersAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-33663381325927978312007-11-13T17:52:00.000-08:002007-11-13T17:52:00.000-08:00Look all of you - this place is clearly worth the ...Look all of you - this place is clearly worth the 580K these nice folks are asking for it!<BR/><BR/>Ooops, I missed the "1" in front of the 580K - my bad.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-71072259753476622342007-11-13T16:33:00.000-08:002007-11-13T16:33:00.000-08:001.1% taxes + 6.5% opportunity cost/interest cost g...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.<BR/><BR/>Then there are the remodeling costs that were sunk into this place...<BR/><BR/>Then there is the roughly $70,000 cost just to sell the place.<BR/><BR/>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.<BR/><BR/>The big variable is how much they spent on the remodel.WarChestSMhttps://www.blogger.com/profile/12269331482861143128noreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-33393259502866040002007-11-13T16:13:00.001-08:002007-11-13T16:13:00.001-08:00Oops, I meant "worth" not "with."Oops, I meant "worth" not "with."Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-29846899240510089202007-11-13T16:13:00.000-08:002007-11-13T16:13:00.000-08:00I want a 50-foot TV. That is probably with $1.4M ...I want a 50-foot TV. That is probably with $1.4M by itself.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2983944778720243687.post-79775756356852836462007-11-13T16:07:00.000-08:002007-11-13T16:07:00.000-08:00Very busy street.Very busy street.Anonymousnoreply@blogger.com