Wednesday, May 12, 2010

It's been a while




It's been a while since I gave out the Ass-Clown award, then I ran across this listing and I just couldn't help but break it back out.

1505 Vanigraff in Corona was purchased in late 08 for $615k. The previous owner paid $1.062m for it. The current owner has only been in the home 18 months but somehow thinks it has increased in value some $370k in that time! He has listed it for $985K. I don't even have words for how silly that asking price is.

The home right behind this one (identical floor plan, nice house with awesome pool) sold two months ago for $600k. So this guy will be very lucky if he can get out for what he paid. After costs he's still looking at a healthy loss though (based on that comp next door).

5 comments:

Tyrone said...

Crazy stuff. Here's a little article by Dr. HB. He's got a title for it, but I'll say...
Is it Safe?
.

golfer_X said...

He hit the nail on the head. What's amazing is how few Americans are upset at the government for this fiasco. The fact that the big banks and investment houses are making Billions now after transferring all their toxic crap to the government is infuriating. Fannie and Freddie are losing Billions while those banks are making record profits. Yup, quite a con those guys pulled off.

BrianH said...

I'm of the opinion that when a realtard takes a listing they should be required to upload a minimum of 5 pictures otherwise their listing is automatically yanked from the MLS. 11 days now and there are no pictures, unbelievable.

golfer_X said...

I agree, and the picture should be taken with something other than a cell phone. It never ceases to amaze me that clients put up with that crap. If I was selling a home and paying 6% for the "services" of a realtor I would expect at least a dozen GOOD shots showing the best features of my home. Half the time the pictures are of only the outside, then they include pics of hallways and empty 2nd or 3rd bedrooms or closets. WTF, I want to see the kitchen, the master suite, the family room etc. I don't give a crap about the hallway or the staircase.

Neudi said...

Non-related to the article. Ran across someone this evening that told me her spouse, who is an attorney, has been doing most of his Bankruptcy work for Realtors. Totally hilarious.