‘Hey Look At What I found On Craigslist!’
The readers second topic: “Hey Look at What I found on Craigslist!’ where everyone can put their OT comments without disrupting the flow of threads.”
The Housing Bubble
Examining the home price boom and its effect on owners, lenders, regulators, realtors and the economy as a whole.
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Name:Ben Jones
Location:Northern Arizona, United States
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Someone posted this last week. The realator claimed that this property would “Cash” flow because the buyer would get 30K in cash at closing. She had a calculation showing a positive figure for the first year using the deposit and monthy rent plus the 30K cash back. I looked the property up in the county records and an Investor bought it in June of 05 for 319K. I actually e-mailed her that her ad was being made fun of on a blog site. She e-mailed me back that Phoenix was headed into the “hot” selling market and to bad other did not feel that RE was a good investment. She asked for the link to this blog and I e-mailed her back with the question: what happens the second year you own this property? Do you lose 20K? No response. She might be reading this site. So Kristain, any offers on this great investment?
http://phoenix.craigslist.org/rfs/151387258.html
That’s the ticket. A seperate craigslist thread. AZGolfer, you are my hero.
Robert
Your welcome! I am off to play golf - no surprise! I am in the finals of a three round match play tourney put on by Working Women’s Golf Association. Looking forward to reading more when I get back tonight. See ya!
Nickel door knobs? Show me where to sign!
I e-mailed her as well, with the following:
“Let me get this straight: you expect someone to shell out $365K on the cusp of a housing bubble implosion of epic proportions, and my “inducement” is an in-place renter paying $1200/month? (And you factor his security deposit into that “income”?!!!!)
BWHAHAHAHAHAHAHAHAHAAHAHA!!!!!
Um, yeah. Good luck finding a “Bigger Fool.” ”
Needless to say she didn’t respond. I note, however, she no longer includes the tenant’s security deposit as part of the yearly income stream.
Gonna try to close that tag
Yeay, my kind of thread.
Here’s a golden nugget i found this morning
http://losangeles.craigslist.org/rfs/150953952.html
Last week I found a post from a desperate seller holding two empty properties and paying 4500 a month on each of them. He also wanted someone to take over his payments….9000 a month, yikes.
Ofcourse, aqccording to zillow he paid 475.000
http://www.zillow.com/HomeDetails.z?city=CHATSWORTH+&state=CA&zprop=20171901
And you have post office parking lot for a back yard. Now this is what I call an investement opportunity. I feel sorry for this fool.
I saw that on Zillow….One question, how can he want someone to take over the payments if he owes somewhere less than $475k he paid? Hmmmm…wonder if he used the ATM and really now owes $500k+?
Is that 9000 in rubles? If not, this ape is hosed.
That looks like real glass in the shower door — I’m impressed. Are all homes in this area so elegant? Momma taught me not to buy the “fainciest” place.
i live a block from the chatsworth house.there is a toppless bar 100 yards a way he should note that it is a selling point.
What is the idea with the ‘take over payments’?
Are they going to sign a deed and then not record it so that the mortgagee does not call the loan? WTF — this is like buying a deficiency judgment, not buying a house.
BAHAHAHAHAHAHA!!!!!! “Take over payments”!!! That expression is the the sound of those who are neck deep in debt and want out.
And the abbreviation for Take Over Payments? T.O.P.!
RC — good catch.
The Australian abbreviation used to be TOT (Take Over Terms). You saw it sometimes on used car ads, but I can’t ever remember seeing it applied to RE.
I spotted this one a while back. Heres the wording in his original listing
————————————–
“My home has been on the market for almost 8 months. The price has come down from the original listing price of 739,000 to where it sits listed on the MLS at 569,000.
Come take a look. You’ll not find a better 2 bedroom, 1 and 1/2 bath at this price, as it was completely renovated 3 years ago before I moved in. I will take 560,000 but that’s the bottom line.
”
——————————
It’s now listed again and this time he’s claiming 80.000 instant equity
http://losangeles.craigslist.org/rfs/150918039.html
Ofcourse he bought at 275k
Heh. What an asshole. How about this.. I’ll wait to “take it off of his hands” for the 200k or so it might actually be worth.
It’s amazing to see the amount of rentals out here in Phoenix / Maricopa. I saw this 5 bedroom 3 1/2 bath, 3300+ sq. foot home for rent out in Maricopa with a Lease / Option purchase. $1100 per month. And no, that’s NOT a typo. I can’t imagine how much of a loss some poor asshole is taking on that right now. Too bad it’s way the hell out in Maricopa, else I’d jump all over it. I imagine that’s the problem with it.
i do like the house. an old craftsman is the hottest thing here in la.
Agreed, I’m hoping to buy a old craftsman in pasadena after this thing has unfolded.
Pasadena craftsmen are cheaper than Oxnard. Buy now. Seriously, nearly identical houses in Oxnard are $800k.
You’re comparing one overpriced market that’s currently slipping downhill with an even more overpriced market, and you reach the conclusion that I should buy a depreciating asset? Falling knife?
Besides, I don’t work anywhere near oxnard so the comparison is moot.
I remenber not too long ago you could buy those for 175k all day long.
Now THIS is a good OT category — here you go:
http://newyork.craigslist.org/brk/rfs/151375936.html
but again, please do not discourage OT posts in threads when they offer current, breaking realty stats/news-thanks!
Here’s another beauty posted on CL:
looks like someone’s begging some poor fool to take over his unaffordable mortgage
I was surprised, while surfing craiglist, to see our old next-door neighbors listing their house in North Park for sale. They used to tell us “you better buy now or you’ll never get in”. Then they mentioned how they used the equity in their house to buy two new cars….
We moved late last summer when the owner decided to sell the house we were renting. It took 7 months to sell, $170K less than the original asking price.
All I can say is: Oh. My. God….
Can you say, f’d investor?!
i hope this guy likes the taste of guano. seems he’s bathing in it
18% first ?? 40% seconds ?? I truly thought I had seen it all. How does one wrap his mind to sign up for something like this. Wait it’s the agents fault Oh ooops he is an agent . Stupidity and greed comes in all forms
This is why there is a housing “shortage”. Sounds like this FB is facing a “shortage” as well. LMFAO.
No, LSHIFOF. (Laughing so hard I fell on floor)
Either I got drunk and passed out on the grill again, or some FB is sizzling like the Sunday sausage.
I love the smell of burning FBs in the morning…it smells like VICTORY!
$93K, Richmond, CA (near Point Richmond), 2/1 townhome.
I have to hand it to them…they put a good price tag on this for folks with very low income. But they seem to be oblivious to what they are really showing in their pictures. The first picture tells me volumes:
http://www.craigslist.org/eby/rfs/151408689.html
BayQT~
i like the hammond organ in the living room. i parted with mine last time i moved. now i want it back.
Yeah…nice organ. But you can have the bars on the windows.
BayQT~
Awww come on where’s yoursense of adventure and community even Beverly Hills has bars on the windows.
What’s better than roses on your piano?
Tulips on your organ!
I bet you say that to all the boys.
Craigslist keywords:
“Desperate”
“Motivated”
“Foreclose”
“Urgent”
“Reduced”
i’m somewhat annoyed with craigslist because everytime the # of hits for a certain “bubbley” search like those you list gets high, it suddenly drops. i suspect that they’re reducing the amount of server space they allocate or something. very annoying, but i do find that each time they “tweak” their records, the low is higher than the previous low.
But they seem to be oblivious to what they are really showing in their pictures. The first picture tells me volumes:
I couldn’t live in Richmond, but if I had to I’d probably accept the need for bars on the windows.
–
I do like that the front bedroom has both a phone jack and a closet light.
(removing the italics down the page by inserting the missing closing tag.)
Disillusioned, C’s list has taken your chosen listing off the board….someone must be trolling this site…
You might want to try again, they’re both working for me this morning..(although I havent’ cleared my cache either). However, it wouldn’t surprise me to find someone’s trying to cover their ass after their humiliation. Heh!
In Richmond, besides window bars, also need a couple of shotguns, uzzis, Doberman, mace, etc.
From SoCalMtgGuy’s site, a listing I found last week - note the reduction. Link was deleted that I had found.
Full Member
Posts: 131
Ugly overpriced SD getaway house
« on: April 07, 2006, 10:58:36 AM »
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http://sandiego.craigslist.org/rfs/147846947.html
862 Via La Cresta at Crest google map yahoo map
$950000 - !!!!!!!!!! HOME FOR SALE ON 1.2 ACRS !!!!!!!!!! PIC INSIDE
——————————————————————————–
Reply to: hous-147846947@craigslist.org
Date: 2006-04-03, 1:13PM PDT
This three (3) bedroom two (2) bath home located in Crest Hills in El Cajon, California, is a must have for any family. With an above ground pool and hot tub, lots of room for children and pets with a complete fenced yard and remote gate opener.
This home has approximately 3000 square feet and a tri level home built in the early 80s. This home was designed by an architect and added vaulted ceilings in the main living quarters and in one of the spear bedroom. The master sweat has a private bathroom with a custom shower and Stone tile floor. Kitchen as well has stone floor. Dining room has a wood floor and is in excellent shape.
The home has had many upgrades like countertop stove, wall unit oven and built in microwave, garbage compactor, in counter dishwasher, water filtration system in sink and a side by side refrigerator with in door ice and filtered water dispenser.
This home has a two year old a/c system and a new hot water heater. On the property there is a stand alone carport for your RV or boat and a stand alone 4 care garage or work shop. The house has a two car attached garage with remote opener. The home also has a central security system installed.
In the family room there is a wood burning stove that keeps the coldest days warm and toasty. On the property there is a garden that is beautiful and peaceful to boot with many birds stopping in for a drink at the fountain. Also on the property there are fruit trees, Orange, lemon, grapefruit, avocado and tangerines. This home is a perfect getaway from the hostel and bustle of everyday life with a country feeling.
Asking price for this home is 1.1 million OBO
If you have any question Please forward them to this e-mail link.
Serious inquiries only please.
Viewing by appointment only.
Photos can be seen here:
http://pg.photos.yahoo.com/ph/lovensunsets2002/detail?.dir=/c774&.dnm=ac03scd.jpg&.src=ph
Report to moderator 168.103.124.198
Jay
Jr. Member
Posts: 61
Re: Ugly overpriced SD getaway house
« Reply #1 on: April 07, 2006, 11:17:27 AM »
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Okay, now that could actually be a nice house from the description, except for the warning signs that they list things like a countertop stove and dishwasher as “upgrades”.
However..
I strongly recommend everyone here go look at the photos.
http://pg.photos.yahoo.com/ph/lovensunsets2002/detail?.dir=/c774&.dnm=ac03scd.jpg&.src=ph
Well worth your time, for this $1,100,000 home. Seriously.
(The Coca-Cola-themed dining room is definitely my favorite)
« Last Edit: April 07, 2006, 11:18:59 AM by Jay » Report to moderator Logged
UnRealtor
Newbie
Posts: 6
Re: Ugly overpriced SD getaway house
« Reply #2 on: April 07, 2006, 02:01:07 PM »
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That lot sits on a giant layer of rock?
Report to moderator Logged
Wickedheart
Jr. Member
Posts: 35
Re: Ugly overpriced SD getaway house
« Reply #3 on: April 07, 2006, 03:17:31 PM »
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More like it is built around a bunch of boulders. It can look awesome when done properly. That wreck is not a good example of how it’s done, however. A friend of our recently sold (last year) their home in that area and moved to Denver. It was a lovely home, beautifully landscaped with an inground pool on over an acre and it sold for much less, around 600k. They listed for 700k El Cajon is known as tweakerland. You might be right about the sellers being high when pricing that one.
Report to moderator Logged
Wickedheart
Jr. Member
Posts: 35
Re: Ugly overpriced SD getaway house
« Reply #4 on: Today at 10:57:48 AM »
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Asking price has been reduced to 800k
One extremely greedy MF FB trying to make $300K and appear as a desperate seller
« on: April 11, 2006, 11:55:05 AM »
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The greed of some of these flippers. This one is unbelievable. And right in the middle of the “Hood. They are only motivated to scam another stupid flipper, if one is dumb enough to bite.
http://www.craigslist.org/eby/rfs/150278908.html
Motivated Seller
——————————————————————————–
Reply to: hous-150278908@craigslist.org
Date: 2006-04-11, 11:05AM PDT
Duplex is located in Oakland, both units are 1 bedroom 1 bathroom, with fireplace in both units, new plumming, new electrical, new roof is being added. Take over payments, $15,000 down. or purchase for $520,000.
1616 Auseon Ave, Oakland, Ca 94621
Victoria
510-305-6472
Note to realtors, I do not wish to list or put on the mls, please do not contact me for that reason.
1616 Auseon Ave, Oakland, CA 94621
ZESTIMATE™: $458,513 (What’s this?)
Value Range: $403,491 - $499,779
09/01/2005: $185,000
09/30/2004: $236,000
2005 Property Tax $4,515
Total assessed value: = $236,000
Assessed value bldgs: $165,200
Assessed value land: + $70,800
I sent an email to her about being overpriced. Her was her response.
Thanks for your comments! But don’t assume anything, because that is
not the
case, if you are even a little bit savvy, then you would be able to
find out
the exact amount of the mortgage on the property and then tell me I am
about to
make $300,000, I wish I could!
Full Member
Posts: 131
Ugly overpriced SD getaway house
« on: April 07, 2006, 10:58:36 AM »
——————————————————————————–
http://sandiego.craigslist.org/rfs/147846947.html
862 Via La Cresta at Crest google map yahoo map
$950000 - !!!!!!!!!! HOME FOR SALE ON 1.2 ACRS !!!!!!!!!! PIC INSIDE
——————————————————————————–
Reply to: hous-147846947@craigslist.org
Date: 2006-04-03, 1:13PM PDT
This three (3) bedroom two (2) bath home located in Crest Hills in El Cajon, California, is a must have for any family. With an above ground pool and hot tub, lots of room for children and pets with a complete fenced yard and remote gate opener.
This home has approximately 3000 square feet and a tri level home built in the early 80s. This home was designed by an architect and added vaulted ceilings in the main living quarters and in one of the spear bedroom. The master sweat has a private bathroom with a custom shower and Stone tile floor. Kitchen as well has stone floor. Dining room has a wood floor and is in excellent shape.
The home has had many upgrades like countertop stove, wall unit oven and built in microwave, garbage compactor, in counter dishwasher, water filtration system in sink and a side by side refrigerator with in door ice and filtered water dispenser.
This home has a two year old a/c system and a new hot water heater. On the property there is a stand alone carport for your RV or boat and a stand alone 4 care garage or work shop. The house has a two car attached garage with remote opener. The home also has a central security system installed.
In the family room there is a wood burning stove that keeps the coldest days warm and toasty. On the property there is a garden that is beautiful and peaceful to boot with many birds stopping in for a drink at the fountain. Also on the property there are fruit trees, Orange, lemon, grapefruit, avocado and tangerines. This home is a perfect getaway from the hostel and bustle of everyday life with a country feeling.
Asking price for this home is 1.1 million OBO
If you have any question Please forward them to this e-mail link.
Serious inquiries only please.
Viewing by appointment only.
Photos can be seen here:
http://pg.photos.yahoo.com/ph/lovensunsets2002/detail?.dir=/c774&.dnm=ac03scd.jpg&.src=ph
Report to moderator 168.103.124.198
Jay
Jr. Member
Posts: 61
Re: Ugly overpriced SD getaway house
« Reply #1 on: April 07, 2006, 11:17:27 AM »
——————————————————————————–
Okay, now that could actually be a nice house from the description, except for the warning signs that they list things like a countertop stove and dishwasher as “upgrades”.
However..
I strongly recommend everyone here go look at the photos.
http://pg.photos.yahoo.com/ph/lovensunsets2002/detail?.dir=/c774&.dnm=ac03scd.jpg&.src=ph
Well worth your time, for this $1,100,000 home. Seriously.
(The Coca-Cola-themed dining room is definitely my favorite)
« Last Edit: April 07, 2006, 11:18:59 AM by Jay » Report to moderator Logged
UnRealtor
Newbie
Posts: 6
Re: Ugly overpriced SD getaway house
« Reply #2 on: April 07, 2006, 02:01:07 PM »
——————————————————————————–
That lot sits on a giant layer of rock?
Report to moderator Logged
Wickedheart
Jr. Member
Posts: 35
Re: Ugly overpriced SD getaway house
« Reply #3 on: April 07, 2006, 03:17:31 PM »
——————————————————————————–
More like it is built around a bunch of boulders. It can look awesome when done properly. That wreck is not a good example of how it’s done, however. A friend of our recently sold (last year) their home in that area and moved to Denver. It was a lovely home, beautifully landscaped with an inground pool on over an acre and it sold for much less, around 600k. They listed for 700k El Cajon is known as tweakerland. You might be right about the sellers being high when pricing that one.
Report to moderator Logged
Wickedheart
Jr. Member
Posts: 35
Re: Ugly overpriced SD getaway house
« Reply #4 on: Today at 10:57:48 AM »
——————————————————————————–
Asking price has been reduced to 800k
Full Member
Posts: 131
Fucked sellers need to dump a dollhouse. Do you have $900K to throw away?
« on: April 04, 2006, 12:56:35 PM »
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My old living area. UGLY houses, too close together, etc. Most homes will be for sale soon as ARMs reset, people lose jobs, can’t buy their SUVs (everyone is expected to have one here), etc. These folks soon to be in BK court.
$879000 - Reduced Price 4 Bedrm 2298 Sq Ft Windemere (danville / san ramon)
This home has been reduced twice and the sellers are motivated!
This home has many upgrades and is in move-in condition. Built 2002, 4 Bedrooms, 2.5 Bathrooms, 2298 Sq Ft., Close to many neighborhood parks, and walking distance to the Hidden Hills Elementary School and new high school. Maple and Granite Island Kitchen, Hardwood Floors, Upgraded Carpet, Custom Interior Paint, Plantation Shutters, Custom Closet Organizers and lots of closet space. The family room is wired for surround sound. The front and back yard is professionally landscaped. There are NO HOA dues!
Virtual Tour: http://www.baytour.com/NVt/VT.aspx?hid=1944
MLS # 608750 http://www.mlslistings.com
OPEN HOUSE Sun Apr 9th 1-4PM
1844 Barossa Dr, San Ramon
Left on Windemere, L on S.Bellingham, L on Barossa
Look at front of home. Looks like Barbie should be in the driveway with Ken and her toy car.
Report to moderator 71.32.108.219
Txchick57
Jr. Member
Posts: 40
Re: Fucked sellers need to dump a dollhouse. Do you have $900K to throw away?
« Reply #1 on: April 04, 2006, 07:41:19 PM »
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UFB! 900k FOR THAT?
Someone pull the axe out of the back of my head! It’s obvious that I’ve been dead for 20 years.
Report to moderator Logged
Jerkstore
Newbie
Posts: 5
Re: Fucked sellers need to dump a dollhouse. Do you have $900K to throw away?
« Reply #2 on: April 12, 2006, 07:58:42 PM »
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You can see Valenn’s used Audi across the street.
Posts: 131
Can you sense the DESPERATION here?
« on: April 07, 2006, 10:56:19 AM »
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The ad says it all. I would have an argument that this is a BEAUTIFUL house.
http://sacramento.craigslist.org/rfs/148767663.html
I NEED TO SELL MY BEAUTIFUL 4BD HOUSE FAST!! AM VERY MOTIVATED FSBO
——————————————————————————–
Reply to: see below
No contact info listed below? Let them know.
Date: 2006-04-06, 10:18AM PDT
FOR SALE BY VERY MOTIVATED OWNER, I NEED TO SELL FAST! 4 BEDROOMS 2 FULL BATHS WITH BONUS ROOM 1,700 SQF SIZE HOME IN SACRAMENTO, CA
NO Leases Or Lease Purchase, Nor Rent To Own offers, please
NO Brokers/Agents, Please
I AM The Owner Of This House And Want A SERIOUS BUYER FAST!!!
House Built In 1979
Asking Price:$345,999
Address: 7280 Huntsville Dr., Sacramento, CA 95828
Call Our Cell ONLY if you are a SERIOUS Buyer Ready To Buy ASAP!
Cell: 209-835-0612 Ask For Dana
Thank You!!
this is in or around Serious Buyers ONLY Please
no — it’s NOT ok to contact this poster with services or other commercial interests
Report to moderator 168.103.124.198
nweaver
Jr. Member
Posts: 59
Re: Can you sense the DESPERATION here?
« Reply #1 on: April 10, 2006, 02:13:42 PM »
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Not desparate enough…
Bought in 2002 for $200k. Which seems a fair price IMO.
$350k is basically what the area prices are for.
So either HELOCed, some other personal situation, or simply thinks that “Make it SMELL like a desparate seller and I can move this fast”.
Report to moderator Logged
Friar_Tuck
Newbie
Posts: 8
Re: Can you sense the DESPERATION here?
« Reply #2 on: April 10, 2006, 05:59:57 PM »
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The fact that theres a 209 area code contact number indicates they live 50+ miles away from the property (916 area code= Sacramento) which makes it smell like a f@cked flipper..
Report to moderator Logged
nweaver
Jr. Member
Posts: 59
Re: Can you sense the DESPERATION here?
« Reply #3 on: April 11, 2006, 10:06:26 AM »
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These days, with cellphones, a lot of people move and keep their number. EG, my brother in law has a 408 number, even though he’s in Chicago.
Full Member
Posts: 131
Another OAK ‘hood’ special. Don’t forget your gun and Doberman for new home.
« on: April 13, 2006, 11:33:56 PM »
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This motivated seller probably HELOC’d themselves into oblivion. $150K profit should be enought for 2 yrs. According to Zillow, not overpriced though. But this whole area is going to blow big time. But, having been through that neighborhood (only in day - too dangerous at night), it is probably a real thrasher inside, and will take a lot to fix up. Just in time for values to be cut in half for the lucky owner.
http://www.craigslist.org/eby/rfs/150758056.html
$469000 - HOUSE FOR SALE (oakland east)
——————————————————————————–
Reply to: hous-150758056@craigslist.org
Date: 2006-04-13, 6:50AM PDT
AS-IS SALE , COSMETIC FIXER UPPER . 3/1 & BONUS ROOM COULD BE USE FOR STORAGE ROOM. APPROX. 1343 SQ.FT LIVING AREA, CORNER HOUSE. SELLER IS VERY MOTIVATED.
2451 61ST AVE. OAKLAND,CA
FOR MORE INFO. PLS CALL CRYS @ 510-224-7919
Sale History
09/12/2003: $342,000
No other sale data is available
2005 Property Tax $5,463
Total assessed value: = $348,840
Assessed value bldgs: $244,188
Assessed value land: + $104,652
ZESTIMATE™: $502,584 (What’s this?)
Value Range: $442,274 - $547,817
Full Member
Posts: 131
Lose $3000/mo with this outstanding investment prop in da HOOD.
« on: April 11, 2006, 12:52:31 PM »
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$520K for about $2000/mo rent, if you are lucky enough to collect. Don’t forget that a Doberman is needed to keep you safe in da hea’t of da’hood. The seller is either really good with words,
Check out the well maintained driveway in the pictures.
http://www.craigslist.org/eby/rfs/150269706.html
$550000 - Duplex ( Investment) (oakland east)
——————————————————————————–
Reply to: deansanton@hotmail.com
Date: 2006-04-11, 10:42AM PDT
Awesome Investment property. Duplex. 2 Bedrooms 1 bath each unit.Both Tenant occupied, in Oakland. Very motivated seller. Working studio in the back with non conforming 2bed/1 bath. An extra give away! Offers as they come. Property is located in Oakland. Make your offer! Don’thave an agent? Cantact me!
Dean Oduah
Cell : 510-415-5415
Work : 510-834-2010
Fax : 510-834-3841
5206 Foothill Blvd at Vicksburg google map yahoo map
$5.00 fine to geoff. left the italics on.
ben, can you fix?
Gonna try to close that tag.
Close the tag.
here’s another “instant equity” claim… love it. when is the SEC going to slam these people for giving financial advice for personal gain??
http://washingtondc.craigslist.org/rfs/151896917.html