Sunday, November 30, 2008

They're still out there

Dellusional sellers, you'd think by now that no one would try for peak pricing with a new listing. But, you would be wrong! Those ridiculous listings are harder to find these days, but they still appear and far too often too.

1592 El Paso Dr in Norco Hills is one such listing that hit the market this weekend. The home is a 4430 sq/ft, 4 bedroom/3.5 bath mini mansion. It does have all the bells and whistles. It's got the rock pool, a basketball court, a built in bbq, fancy stone work, pergraniteel kitchen and a multitude of other nicities. Two years ago all those upgrades would have fetched top dollar. But today they really don't mean much. The fancy pool is now just added maintenace and the rest of the stuff is just fluff, lipstick on a pig. The home was built in 2001 and sold new for $503k. I remember looking at the models for these homes. The floorplans were a bit funky. But, I digress.... back to the post. So whether due to job loss or unaffordable payments the owner has placed his dream castle on the market for the laughable price of $1.1 Million!. Yes that's right, there are still people smoking the dream pipe. There are still agents so desperate for a listing that they will clutter up the MLS with garbage like this. I'm not a big fan of Zillow, but in this case I think Zillow has the price about right. The Zestimate is $570k.

1.1 million.....paaaa leaze

The realtard states that the pictures sadly understate the home. He's not kidding. Not a single one is in focus, even the outdoor shots are blurry. He probably laughed so hard when the told him the asking price that he got spit on the camera lens. Either that or he took them with his cell phone. How hard is taking a picture these days with all the point and shoot cameras on the market. It's almost idiot proof. Yet again though, we are supplied proof that idiots can find a way to screw up the unskrewupable (that's a new word I just made up!).


Tyrone said...

Hey, the world is becoming a much fuzzier place, ya' know.


Market said...

Do you really agree with Zillow? I find that the "values" are a bit high and I tend to think they're a few months I delusional?

Kevin said...

I'll agree with you on the 1.1M being a bit delusional. What I cannot believe is that it sold for only $500K in 2001? Admittedly, it is a pretty nice house. Its large, on almost 2/3 of an acre, and does come stocked with quite a few amenities. Given, it's not necessarily a gorgeous house, but it is not the ugliest house in the IE either (especially for a McAnything). Why was the price so low 7 years ago? I could see these two prices being flipped - am I the only one?

golfer_X said...

Zillows prices are all over the place. Some houses are low, some high and others about right.

The $500k price in 2001 was what it sold for new. That's without the pool and fancy landscaping. I looked at these when they were building them. That tract started in the mid $300s. At $500k this must have been one of the most expensive homes in the tract.

So low 7 years ago?? Huh,$500k in 2001 was just about at the top of the price ladder in the IE, short of buying a real custom estate home. The average price for large tract homes back then was about $90 to $100 a s/f. So this home was pretty expensive in its day.

gbrody2013 said...

Golfer X,

Most realtards will take any listing they can not matter how delusional the seller. They do this for the free advertising on the shingle in front. In turn they think the "sheeple" will beleieve that they are the big dog in that development or market. Hopefully people are wising up and realtards (except in high niche markets) will go the way of the travel agent and Fotomat.


boxrs4sale said...

Wow. It's fun to look back at the housing boom and see how many people felt rich by "owning" a McMansion. Now everyone's trying to downsize, sell and get out with a shirt on their back.

I'd rather have a chunk of land anyday, over a 4,000 sq. ft. home parked 10ft from the next one.