Friday, May 22, 2009

One for Buttermonkey



Here's one in Victoria Woods that's listed for 1999 prices. 2627 Dorchester is a 4 bedroom 2.5 bath home that is nearly 3000 s/f. That's a good size for an older area. This looks like a home equity withdrawal gone wrong. They ex-owners look to have purchased this in 1999 for $325k. They lost it to the bank back in Jan. The bank tried to get $418k at the trustee sale but obviously no one took the bait. It's now listed for $332k. That's just about what it sold for in 1999.

13 comments:

Allison said...

Looked at it yesterday...wonder if that was Buttermonkey I saw there... :)

ButterMonkey said...

LOL X! Yeah, I looked at this one yesterday. The kitchen is in good shape. Expensive cabinets and granite counter tops. Not my style, but quality. The flooring is abhorrent. They must have had a rodent because all of the carpets had the corners scratched up and peed on. The wood floors are high quality, but they were installed improperly. Looks like they didn't put a moisture barrier down because the wood is pulling up all over the place and is a serious tripping hazard. Overall it's a good house. There was A LOT of traffic there yesterday. The agent I was with (my agent is out of town ATM) said that she was sure that it'll go for well over $400k. She's probably right, but I'm still not paying that much. I told her the max amount that our budget will allow and told her that if she wanted to offer that, ok, but if she thinks it's a waste of time, that's ok too, just forget it.

Allison, I had on a yellow shirt with with cherries on it, jeans, and black flip flops.

It will be a joyful day when I can come and tell y'all that I finally found my Victoria Woods house, but I don't think this one is it.

golfer_X said...

I quit looking for now. With so few decent foreclosures there's not much point. Every knife catcher in the IE seems to be looking to buy right now. They are fighting to overpay, it's just stupid. I will just sit back until the fall and see what happens. Besides we booked another cruise for us and the kids next month and I it will take a couple of months to knock the credit card balance back down.

Allison said...

Buttermonkey - I don't think I saw you then, but there were two other lookers when I went. It was a zoo.

I agree with your assessment of the house. I loved the high ceilings though, which is rare in that neighborhood. You can touch the ceilings on all the homes we've looked at there.

Our agent guessed more like 350k, 360k. If folks bid it up to 400k, that is ridiculous.

X - We are staying out too. There is a flood of Spring Bounce buyers and very little inventory. I refuse to compete with 20 offers right now when I know a flood of inventory is right around the corner.

OSA said...

what if the inventory you are looking for does not materialize?

ButterMonkey said...

Allison, yeah the high ceilings were nice, I agree.

Our agent said that the listing agent told her there are multiple offers over $400k at this point.

Oh well. I sure as hell am not paying that.

Allison said...

Buttermonkey - Really? Wow. Too much for sure.

OSA - Even if a flood of inventory never comes, I'll wait until Fall/Winter when there are fewer buyers out there. I'm pretty sure it is coming though. Well, I shouldn't say that. The banks are trying to control price drops so they are letting them trickle out. Perhaps no flood, but at least a steadier trickle than there is now. :)

ButterMonkey said...

Allison, you guys going to go take a peak at the Rawlings place? I'd like to look inside, but that one is way too much for our budget.

golfer_X said...

That rawlings house looks nice but it backs up to Central. That's got to be noisy. It will be interesting to see if they get that price. They are asking quite a premium over what the bank was willing to take at the auction.

Allison said...

Yep, the Rawlings house does look nice but I agree, backing up to Central is a deal breaker for me, even if it is a big lot. I think they'll have to lower the price quite a bit due to that location. I wasn't planning on looking.

When I first started looking in early '08, 537k for a house like that would have sounded fantastic. Now it sounds way too high. I might pay that for one of the new homes off Bradley/Overlook - but that's about it.

Buttermonkey - have you looked at the house on Ruth Way? It is right next door to my in-laws. 399k, great neighborhood.

ButterMonkey said...

Where's the Ruth way house? Canyon Crest? I'd really prefer to be in Victoria woods as we have friends there, it's close to work for both of us, and Alcott starts at a normal time (8:30)not at the buttcrack of dawn like other elementary school in Riverside. My son's current school wants them there at 7:25 a.m. It's horrible! We are not morning people!

X, just for fun, what's your guess on what the Rawlings house will go for. Someone has to go take a look and come back to report whether they trashed it or not.

Allison said...

Buttermonkey - Ruth Way is kind of near Overlook, off Washington. I forgot you are solely looking in Victoria Woods. And I thought my 92506 search was narrow! Don't blame you though, when you know what you want, you know what you want!

Oh, and if you want a later time, move to Woodcrest. Woodcrest Elementary starts at 9 a.m. Doesn't meet your other criteria though :)

golfer_X said...

Just for fun, I will guess $440k on the Rawlings place. Without seeing it that's a total swag. I don't think they have a prayer of selling it at the $538k asking price. Even with 20% down that's still a Jumbo loan and that eliminates most buyers these days.

The mid priced homes these days are very hard to unload. On the high end there is still a chance of unloading a home if it's priced right. Rich folks can still buy. Low end is moving because the payments are so low these days with the interest rates. That, and the stupid low DPs that FHA will take means just about anyone can get in if they have a half decent credit rating. But the mid level stuff, the stuff priced over the conforming limit but not the stuff the rich folks will look at is DEAD. It's "stick a fork in it DEAD". There's just not enough people running around with $100k plus in the bank to buy these homes. Anything over $450k seems to be hard to move unless it's priced right. This place ain't priced right.