Below are some 3 bedroom or larger homes that strike me as flips gone wrong or about to go wrong, especially since Laguna Beach home prices are spiraling downward:
2867 Terry Road - Asking $1,895,000, bought it for $1,850,000 in 2006. Listed for almost a year. This house is a small 3 bedroom, but it is nice. No yard though and really close to PCH noise.
954 Miramar St- Asking $1,099,000, bought for $1,000,000; listed in 2007 and recently relisted to make it look "new".
31371 Monterey St - Reduced to $2,050,000, bought for $1,400,000. I visited this one this weekend and they are eager to sell - further price reductions likely on this one. This house sits right above PCH - a very noisy location. The renovation stopped at the doors - there are some ocean decks that are in bad shape - a sign of financial distress.
1914 Upper Rim Rock - Asking $1,980,000, bought for $1,500,000 and about $200,000 spent on remodeling. Listed for over 100 days. The predictor says......watch for a price reduction.
454 Broadway - Asking $1,549,000, bought for $999,999. Listed for over 100 days. Ditto - price reduction soon. Broadway street is the 133 highway - this is a bad location.
645 Buena Vista Way - Asking $3,850,000, bought for only $200,000 less. Listed for 148 days. Can you say "watch for the repo man?"
954 Miramar St- Asking $1,099,000, bought for $1,000,000; listed in 2007 and recently relisted to make it look "new".
31371 Monterey St - Reduced to $2,050,000, bought for $1,400,000. I visited this one this weekend and they are eager to sell - further price reductions likely on this one. This house sits right above PCH - a very noisy location. The renovation stopped at the doors - there are some ocean decks that are in bad shape - a sign of financial distress.
1914 Upper Rim Rock - Asking $1,980,000, bought for $1,500,000 and about $200,000 spent on remodeling. Listed for over 100 days. The predictor says......watch for a price reduction.
454 Broadway - Asking $1,549,000, bought for $999,999. Listed for over 100 days. Ditto - price reduction soon. Broadway street is the 133 highway - this is a bad location.
645 Buena Vista Way - Asking $3,850,000, bought for only $200,000 less. Listed for 148 days. Can you say "watch for the repo man?"
2 comments:
Yeah, 954 Miramar is a flip that no one wants. Bought in 2006 for $1 million, but then the flipper listed it for $1450,000. Here's what happened next:
Price Reduced: 09/12/06 -- $1,450,000 to $1,399,000
Price Reduced: 09/27/06 -- $1,399,000 to $1,350,000
Price Reduced: 11/11/06 -- $1,350,000 to $1,349,000
Price Reduced: 11/17/06 -- $1,349,000 to $1,295,000
Price Reduced: 03/01/07 -- $1,295,000 to $1,275,000
Price Reduced: 03/21/07 -- $1,275,000 to $1,249,000
Price Reduced: 06/11/07 -- $1,249,000 to $1,195,000
Price Reduced: 08.03/07 -- $1,195,000 to $1,189,000
Price Reduced: 09/06/07 -- $1,189,000 to $1,159,000
Price Reduced: 09/19/07 -- $1,159,000 to $1,158,000
Price Reduced: 09/19/07 -- $1,158,000 to $1,157,000
Price Reduced: 10/08/07 -- $1,157,000 to $1,156,000
Price Reduced: 10/27/07 -- $1,156,000 to $1,129,000
Get a load of those $1,000 price reductions! Aren't they enticing? Sadly, they didn't work. This place has been languishing on the market, stalled, at $1,099,000 for ages. Good luck selling it!
$1,450,000. Sorry.
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