Carlsbad REO Contest

Written by Jim the Realtor

October 5, 2009

The REO on Buena Vista hasn’t hit the open market yet, but should be soon.

Take a guess at what it’ll sell for in the comment section – here’s a youtube tour:

114 Comments

  1. Jason

    $655,000

  2. osidecompass

    $679,500.

  3. jeff horwitz

    $540,000

  4. Susan

    $575K

  5. 4s Renter

    $567,890

  6. sdnerd

    $675,000

  7. Shawn

    $625,000.

  8. Katella

    $700,000

  9. propertysearch

    $627K

  10. Dave

    $595K

  11. UCGal

    $647,500.

    Just curious – what was the square footage of that back unit? It was TINY. Did it have a bathroom? It could be used as an office, maybe… but without a bathroom, it would be hard to have a family member out there. And even the downstairs bed/bath wasn’t very accessible if the elderly parent uses a walker or wheelchair. It looked pretty tight/hard to maneuver.

  12. dwr

    722K

  13. ucodegen

    Humm.. If it sells within a month, $685k…

  14. Kingside

    $631k

  15. Downturn

    OMG hardwood, granite!!

    $587.500

  16. bobfather99

    $591,000

  17. NateTG

    $697

  18. Al in IC

    643,750

  19. MDS

    $539,500.

  20. bill wilson

    $608,000

  21. 3clicks from da beach

    $589,750

  22. Pigpen

    710K

  23. SD_Coastal

    $735

  24. Pigpen

    JTR, the granny flat had to be built SANS permits. It looks like a death trap. I can’t imagine inspectors allowing this sale with the back place in the condition it is.

    Cheers,
    Pigpen

  25. srv

    $615.5K

  26. ARK

    724,500.00

  27. JK

    $661,000

  28. chetatkins

    $744,000.

  29. bklyn2vegas

    669,000

  30. cara

    $666,666

    (I think it would have been worth more without the deathtrap back garage unit thing)

  31. Goldwater's Ghost

    $659,900

  32. clearfund

    In true The Price Is Right Style….$1

  33. shadash

    $1

  34. JAP

    $777,777

  35. osidebuyer

    $677,777

    The extra 7’s are for the dual swimming pools. Overall the interior looks alot better than I expected. Why would the bank turn down a mid-600s short sale then auction it for low 500s?

    BTW Jim, I was in the area a couple of days after your original post, so I decided to drive by. Did you notice the ‘unique’ landscaping a few doors down at the corner of Buena Vista and Jefferson? I snapped a couple photos with my phone:

    image 1

    image 2

    That turret is not for fending off insurgents, but pirates!

  36. OCVulture

    >>>>>>>>>> $597,000 <<<<<

  37. DDH MN

    $699,999

  38. Mike

    $709,000

  39. tj & the bear

    I’ll hold my nose and say $619K.

  40. cheryl

    $654,500.00

  41. phil ne

    $570,000

  42. Blissful Ignoramus

    $703,000.

  43. dejams

    618K

  44. Wassup

    $649,900

  45. Eric

    $735,250

  46. kkman

    687K

  47. W.C. Varones

    $721,000.

    I’d hit that with an FHA loan and 3.5% down, 2% of which I’d get kicked back from Redfin and another 1% of which I’d get from the homebuyer tax credit (soon to be doubled to $15k or 2%). Throw in some mortgage broker kickbacks and they’re actually paying me to take this house, and the taxpayer bears all the risk if the market doesn’t rebound and I decide to walk away.

    Just kidding about the Redfin, Jim. You’re the man.

  48. DCRogers

    Damned if V.C. Varones isn’t right, so I’m gonna apply the screw job: $720K.

    HAHAHAHAHA.

  49. Erica Douglass

    $620,000.

    I like the house and if we were in the market right now, I’d at least tour it. Anything under $00K is a pretty good deal. Anything under $550K is an excellent deal.

    -Erica

  50. Erica Douglass

    er, last post “$00K” should say “$600K” — Jim, while you’re installing spam filters, can you install the WP AJAX Edit Comments plugin as well? 😉

    -Erica

  51. doug r

    I’ll go with the Redfin sale average $589,000

  52. Mario Rizzi

    653

  53. jbirdfunk

    $612,500

  54. Erin

    That house has intrigued me for awhile. I think I saw it when it was listed for sale, last year? Or the year before? Anyway, it was very nicely decorated or “staged” and it looked like the owners maintained it. Did I miss the 3rd bedroom? master up, 1 down, where is the other?

  55. Franklin

    $728,500

  56. tj & the bear

    Oh great, Erica and dejams have me boxed into a $1K range. My chances of being that accurate are about as good as agreeing with Mozart.

  57. aljanet

    637K

  58. ChrisG

    $750k.

    Here’s to all the buyers with 2 mother in laws.

  59. Jim the Realtor

    There are two bedrooms downstairs, and the ‘dining room’ looks like it was a third down originally, now opened up on two sides.

  60. CA renter

    $599,000

    Hate to admit it, but I actually like the pirate theme. Bet they’re fun neighbors! LOL! 😉

  61. Gunny

    $671,000

  62. Lqt

    $626,626

  63. Lqt

    I pulled that offer as a short sale when I closed on another place – it was higher than I wanted to spend but the lowest number I thought the bank might take.

  64. CVMan

    $680,000

  65. newcomer

    $580,000

  66. IRE

    $595,631

  67. Miss Lace

    $745.00

  68. Genius

    That house is hitting the market just in time for Halloween. I for one am frightened.

    $619,863.47

  69. REB

    $658,000

    PS Slow to respond…traveling in New England right now watching fall colors

  70. ice weasel

    $723,000

  71. Rob Dawg

    $631,500. (I wanted 666 but was too slow)

  72. doughboy

    799k

    Stock market at 10,000 by weeks end and Jumbo’s at 6%…party on!

  73. Mozart

    $646,900. It’s the average of all entries excluding the $1 comments and TJ who it is good to ignore in any case.

  74. dafox

    $602k, bob

  75. 3clicks from da beach

    $646,900. It’s the average of all entries excluding the $1 comments……..

    Then it is great to know that my number is $57K below average. And as a side note, I saw this book in the back of Realtards car recently – The Flaw of Averages: Why We Underestimate Risk in the Face of Uncertainty. Well, that person can take the book and at put it where the sun doesn’t shine.

  76. LC Jim

    $655,000

  77. 3clicks from da beach

    I’m missing the letter ‘a’ before ‘Realtard’ in my previous post (no, it wasn’t in the back of an old Chevy or MBZ).

  78. 3 Kings

    $685,000

  79. bubblenerd

    $580,100

  80. Blue Streak

    $652,500

  81. Chuck Ponzi

    617,500

    Wazzup! Not that it’s worth it.

  82. CDunk

    $618,520

  83. Singularity05

    $645,550

  84. Erin

    $639,000

  85. Daveg

    698K

  86. Scott

    719500!

  87. The Blur

    $605k

  88. Anonymous

    In the 7’s?!?! Are you f&*(ing kidding me?? Have you seen the neighborhood?

  89. François Caron

    A correction to my bid. Ucodegen had already posted the price of $685K. (3 Kings, you also posted $685).

    So I’ll change my bid to $686 instead.

  90. François Caron

    A correction to my correction.

    That’s $685K, not $685.

    Jim, I might need you to proofread my contracts! 🙂

  91. François Caron

    Third correction. $686K, not $685K.

    Two huge cups of coffee will do that to you. 🙂

  92. Two Buck Chuck

    $2!

  93. KBX

    cewl, free lottery – nothing to lose here…

    I´d guess it sold in the low 600 – lets pick a number noone had… 609.997 USD

    I´d never have paid even 530k for the house btw.

    But with people being afraid of inflation, dollar doom talk going around and tax credit as cherry on the cake – well, just grab it no matter where the price lies. The ocean view should have some value @ least…

  94. CB Mark

    $616,500

  95. Happs

    $689,000

  96. Franklin

    ” In the 7’s?!?! Are you f&*(ing kidding me?? Have you seen the neighborhood? ”

    That’s what I’ve been saying about ALL California RE for years.

  97. LQT

    Franklin – yes, CA real estate is kinda coo-coo. HOWEVER, this house, as much as I adore it personally (bank almost took my short sale offer if you want to believe the listing broker), it just isn’t worth more than low 6’s, and that’s pushing it given the immediate neighborhood and vicinity to the freeway. The granny flat in the back is not permitted as such, either, so it can’t be considered official living space. I am VERY curious what the squalor parlor across the street is going to be in the near future since it recently changed hands… even with all the village redevelopment, this road is not here or there for an R1, which is what this is.

  98. Shii

    800k lol, the extra 200k is because of the love

  99. tj & the bear

    Wow, this makes the 100th comment. Is that a record?

    p.s.: People keep tightening the noose around my guess. Argh!!! I wanted a t-shirt! 🙂

  100. Knockout

    $651,000 . Late to this match

  101. doughboy

    I went 799k as a joke and now we have 800k! Its a virtual auction!

    In this heated market you just never know who wants to live in the Olde Karlsbad barrio and at what price they will pay to be walking distance to Henessey’s tavern!

    102 comments

    its a record!

  102. Captain Obviousness

    Could it be….

    [raises pinky to mouth]

    …one MILLION dollars?!?

    /dr. evil

  103. TomL

    632,000

  104. Jay

    642,500

  105. Franklin

    So, when do we find out who the winner is ?

  106. Susie

    $638,090!
    Yippee, a Jtr video, a contest, and a record-breaking 106 comments so far! *Chuckle* I feel like I’ve won the real estate lottery already–even though I live nowhere near SD.

    What would I do if I won? Add it to my 20% down payment to a 30-year fixed—that’s if I can find my house AND financing.

  107. Yknaught

    575,900

  108. Law

    $660,000

  109. dave b

    625,500

    all these number still seem CRAZY to me. but I guess that the world still is crazy. you look on zillow back 10 years on ANY house in socali and you see where the start price should be. then add 5 percent a year for 10 years to get the real honest fair value for any of these houses in socal. that means my lil townhouse bought exactly 10 years ago new in carlsbad at 150,000 would be selling for just under 250,000 today. the last one to sell (in 1 day) about a month ago sold for over 400,000. 400k-250k = the amount the market is STILL overpriced. and 5 percent a year is a very very generous appreciation rate (have all of you gotten 5 percent raises at your jobs each year for 10 years?) do you still HAVE your job??

    if Jim is the realist I guess I am the ULTRA realist. 🙂

  110. SDAndy

    632,000

  111. SDAndy

    I will change that to 635,000 since 632K already taken

  112. mtb

    650,000

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Klinge Realty Group

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