Wednesday, September 2, 2009

Motivated AND delusional



It's been a while since I did a delusional seller post, so here goes.

2608 Carlton Pl is an old wreck of a house overlooking Victoria Country Club in Riverside. The home was built in 1925 and the current owners have lived in it 40+ years. By the looks of the thing they haven't done much to it since they bought it. To me it looks like a tear down. At the very least any buyer would have to gut this thing and rebuild it from the ground up.

So they list this train wreck right after the market starts to tank, in Jan 2007, for 1.2 million dollars. Now, even during the heady days of the bubble getting $1.2M for this dog would have been unlikely. Now here we are 975 days later and the listing price has dropped a mind numbing........ ONE THOU! Yup, you read it right, it went from 1.2M to 1.199M and that whopping price drop only happened two weeks ago. This is another case of "what the frack is the realtard thinking". We all know this is not going to sell. Come on Roy from Realty World, do us all a favor and drop this dog!

Thre are no pics of the house bar a shot of the front (from a distance). But I have driven by this place and I can assure you there is a reason there are no pics. In addition to the house being a wreck, it's built on a huge slope, so there is no real back yard to speak of. And there's not much of a front yard either. It does over look the golf course and I'm sure there is some value to the lot. But the house looks like it should be condemned. Judging by the listing it is probably some old geezer that lives in it and doesn't care one way or the other if he sells it. Even though the listing say's "MOTIVATED", he obviously isn't. The lsiting does say "MILLION DOLLAR VIEW" and maybe that's why it's priced at 1.199M. That would imply the the house and lot are worth $199k and to me that seems about right!

8 comments:

Carl said...

it dropped $1,000... not $1.

not that it changes you point in any way..

maybe it comes with an equity membership in the country club?

VectorzSigma said...

Maybe the land is rich in oil.

Allison said...

I've been missing the delusional seller posts. This one is hilarious, that place looks like a tear down.

Newbie Blogger said...

They must not be too familiar with all of the McMansions built in the last 10 years if they think that just under 4000 sq feet is a "mansion"

golfer_X said...

$1000, That is what I meant to type, but after a couple of glasses of Macallan it just came out as a dollar.....

Terry said...

They say this is the first time it has been on the market in 40 years. They probably don't want to lose the ability to say that, even though it's been on the market for more than 2 years. If they take it off the market and then try again later, they can't say that anymore, at least not truthfully. So, they're just waiting for the market to make its miraculous come back next year.

David said...

Check out this article
http://www.housingnewslive.com/articles/reasons-housing-market-going-down.php

Clifford said...

totally off topic...but this place was right next door to my frat house in college. I knew it looked familiar!