Sunday, September 14, 2008

Ass-Clown of the month award

I thought maybe, possibly, hopefully, I had seen the last of the delusional seller listings. But no, that was wishful thinking. This months assclown lives in Sycamore Creek. The biggest financial black hole in Corona. Most homes in this tract are currently listed for about 1/2 what they sold for new. That puts the average asking price in the low to mid 300's. Then there is this guy!

11439 Tesota Loop. The house is 3603 s/f with 5 bedrooms and 3 baths. The house looks nice but it's not high end. The kitchen counters appear to be tile, I don't see any hardwood flooring and the appliances are low end. The house was purchased new in April 2005 for $556k. It listed this week for a gut busting, soda spitting price of $830K!!

Is this another "fake" listing in order to get the bank to agree to a loan modification? "Sure, Mr Bank, I had it listed for 6 months and couldn't sell it...." I hope it is. Because to think that this far into the biggest real estate meldown in recent history, there are sellers and agents that think people will pay more than peak prices is disturbing. The agent should be strung up by the gonads just for taking this listing.

Checking Redfin to see what homes are selling for shows that about a dozen near him have sold in the last 3 months. The price range was $275k to $380k for those homes. In addition the three houses to his right are all for sale (4 in a row) , 2 are slightly smaller and one is the same floorplan. They are all listed under $400k and 2 of those 3 have been listed for over 4 months now. So, obviously they are asking too much.

$830K for an average tract home Sycamore Creek......What is this guy thinking. I bet we don't see those prices again until 2050.

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