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Old 04-16-2020, 02:27 AM
 
Location: Coastal San Diego
5,024 posts, read 7,575,311 times
Reputation: 4055

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Did you see this? The owners took a $100k haircut and it closed in less than 30 days. I'm stunned.

https://www.redfin.com/CA/San-Diego/...7/home/5203033
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Old 04-16-2020, 08:24 AM
 
Location: San Diego, CA
3,416 posts, read 2,457,198 times
Reputation: 6166
I favorited that property after we discussed it last month and actually looked earlier this week to check on it’s status. I’m not surprised at all. While a $100K is a lot, it’s only a 6% reduction. With everything going on I’d take the money and run if I was the seller.
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Old 04-16-2020, 09:59 AM
 
Location: La Mesa Aka The Table
9,824 posts, read 11,548,625 times
Reputation: 11900
Meh, Average!
J/k Nice view of the Bay
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Old 04-16-2020, 10:33 AM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
10,351 posts, read 8,569,440 times
Reputation: 16693
Maybe a 100K haircut, but still sold for $400K more than they paid for it.
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Old 04-16-2020, 10:36 AM
 
Location: Coastal San Diego
5,024 posts, read 7,575,311 times
Reputation: 4055
The closing was probably done via Docusign. Fannie Mae just approved Notary by Docusign.

Almost forgot... I'm stunned that it closed at all. But I guess houses like that don't come on the market very often.

It's all about the view. The listing has 25 photos. The 25th photo actually shows the front of the house.
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Old 04-16-2020, 11:45 AM
 
Location: San Diego, CA
3,416 posts, read 2,457,198 times
Reputation: 6166
Quote:
Originally Posted by cruitr View Post
The closing was probably done via Docusign. Fannie Mae just approved Notary by Docusign.

Almost forgot... I'm stunned that it closed at all. But I guess houses like that don't come on the market very often.

It's all about the view. The listing has 25 photos. The 25th photo actually shows the front of the house.
Huh? I see your view of the market has changed the last few weeks. You were convinced it would sell at the asking price or higher.

Quote:
Originally Posted by cruitr View Post
It takes a long time for houses to go down in price. Houses started to fall in price in 2006 in coastal SD. It's hard to say when the exact bottom happened. I'd say 2012.

I'll bet that house on Dillon Way closes in 30-60 days at asking price or higher. If you have the right credentials, the right relationships, and a decent down payment, a 3% mortgage is still easy to get. The seller and their broker must feel they have a very strong buyer. Why else would they take the place off the market? The buyer may have showed up with a suitcase full of Benjamins.
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Old 04-16-2020, 12:01 PM
 
Location: Coastal San Diego
5,024 posts, read 7,575,311 times
Reputation: 4055
Quote:
Originally Posted by TacoSoup View Post
Huh? I see your view of the market has changed the last few weeks. You were convinced it would sell at the asking price or higher.
Yep. I was. But apparently the owners or brokers got nervous and took the first solid deal that came in the door the same day they listed. There's no way I'd buy that house in the middle of this virus mess. But I'm 67 and I rarely go outside.
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Old 04-17-2020, 07:30 PM
 
9,526 posts, read 30,477,668 times
Reputation: 6435
Looks like a drug dealers house. Freeway noise and pollution must be incredible
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Old 04-17-2020, 10:22 PM
 
Location: Coastal San Diego
5,024 posts, read 7,575,311 times
Reputation: 4055
Quote:
Originally Posted by Sassberto View Post
Looks like a drug dealers house. Freeway noise and pollution must be incredible
I drove by the place and could hear the road noise from the front of the house. Add a few trains and trolleys, and you'll want to be on drugs. That noise problem is probably the reason there's no video available.

It would probably make a good Airbnb or Vrbo property when the tourists come back to town.
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