Tuesday, September 28, 2010

What's wrong with this house?


2114 Westminster is in the best area of Riverside, it's dead cheap and it can't seem to find a buyer. What the heck is wrong with this place. After a boat load of price drops this house is listed for $373k. The cheaper homes in this area are in the $500k to $600k range with most of the nearby homes over a million. From the pics it doesn't look that bad. I thought this place would have sold a year ago when it was listed at $425k.

12 comments:

Gold said...

It's a short sale - probably can't get bank approval.

"Short Pay/Subject to Lender Approval"

Allison said...

We were under contract a year and a half ago for about $415k. A week before closing we backed out. The inspection revealed more than we wanted to spend, and it just didn't feel right.

Now, after all of this time, the yard looks pretty crappy. The owners moved back in after we backed out, not sure if they still live there now.

The house needs some work - kitchen is outdated, back yard is all dirt and a pool that needs work. But, $373k sounds fair. I wonder if they have it listed for that but the bank won't actually take it. They were also very slow, took us 4 or 5 months to get under contract back then.

Kevin said...

There's a "4" in the address, so none of the all cash chinese buyer would touch it with a ten foot pole.

Tyrone said...

Site of a Murder-Death-Kill??

BrianH said...

I just comped it out and it looks to be a 425-450k house if it is in decent condition. Fixed up in amazing condition it would probably fetch a little more though. The problem is there are some really nice houses that are newer built, larger lots etc. in the high 400's and up.

golfer_X said...

This tract has very few homes under $600k. The new ones in this area are the Pulte homes at the top of Overlook and those started in the low $600s when they sold the last batch earlier this year (way over a million at the peak). I actually put an offer on one of them and came really close to buying it back in Feb. The lack of landscaping is the only thing that stopped me. This area is full of HUGE million dollar mansions. Its called "pill hill" because there are so many doctors living there.

Emily said...

As far as Feng Shui goes, it's oK to have a 4 in the address, so long as it doesn't BEGIN with a 4.

Julie said...

1.There is visible termite damage on the eaves at the front door.
2.There is no garage only a car port.
3.The pool needs to be re-done.
4.The sprinkler lines in the back yard are broken and eroding the soil.
5.The main hallways are 30 inches wide and about 10 feet tall.
6. The laundry is in the kitchen
7. Nice size yard and million dollar home for sale about two doors down.
8. For 120k and vision it could be really nice. However I lacked the vision

golfer_X said...

And I lack the 120K.....

Kevin said...

Regarding "4"
Feng shui is not the reason that chinese buyer avoid homes with 4 in the address. Its that the number 4 in chinese sounds like the word "death." So they try to avoid any address with the number 4.

Trust me, I'm looking for a house right now, but my wife will not even consider any house with "4" in the address. Its very painful to let a house with everything we want slip by because of the address.

golfer_X said...

Start using Spanish numbers! Problem solved.....

paula said...

Great designing of the place. Love the garden in front of it.

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