more on buying then and selling now, or trying to

Having read the trials and tribulations of buying then and selling now -
a reader marveled that just one of the 10 homes that were bought in 06 and trying to sell in 09 had actually sold. And it sold for 30% less now, than then. And he asked if I’d slip down a notch to the $750 - $999 price range and see how it measured up, ‘then and now’.

So sure, why not, it’s 100 outside and not a buyer in sight.

1) 7151 N Lemmon Rock Pl sold in a jiffy in 06 for $756. Re-listed in 08 it didn’t sell at $830, nor at $788. Then re-re-listed in 09 for $699, and still no sale, and two weeks ago they gave up.

2) 6360 N Placita Alta Reposa sold for $757,500 then, and was listed in 07 for $925,000 –ha ha ha. No Sale. Price reduced umpteen times, still no sale, property enters foreclosure @ $649,900, reduced umpteen times again, ends up selling in May 09 for $499,900.

3) 6230 N Camino Esquina, in Skyline Belair, sold for $760 then, was listed for $739,000 in late 08 and expired last month at $675,000.

4) 6202 N Placita Pajaro, a wonderful little house on the golf course in La Paloma and with beautiful mountain views, sold in 2 weeks in 06 for it’s $769 list price.
It was listed this March for $725, reduced to $715 then $699 and went to contract a couple of weeks ago, though it’s a contract that’s contingent on the buyer selling their home first. So good luck with that.

5) 4332 E cerrada del cazador went quickly in 06 for it’s $775 list price. But they cheated, here’s a shot from the 06 listing; the caption says, ”2000 benz convertible goes with house on full price accepted offer”

They got the full price accepted offer and away it went. Then in 08 they wanted $850, sans benz convertible, what were they thinking, and after many cuts over many months it sold for just $585 this April.

6) 4951 N Avenida De Castilla in Hacienda del Sol estates is an odd one. It sold for $800,000 in 06 and it was just 10 years old and looked to be in fine condition. But the new owners gutted it and then never got around to putting it back together. Instead, the put it back on the market a few weeks ago for $649,000. It’s 6500 sf, under $100/sf and it’s not a short sale or foreclosure.

7) 5751 E Placita Varas in Alta Vista sold in about 2 1/2 months for $800 in 06, was then beautifully remodeled and went back for sale at $1,175,000 this February. Now it’s $1,095,000, and I can’t see how they can even break even on this one.

This was then,
 

This is now,

Then,

Now,

The rest of it looks to be just as nicely done. So maybe.

8) 4860 E Salida Del Sol Pl- sold in no-time for $850 in 06, went back on the market a year later for $899,999, oops, went through 4 agents, had numerous price cuts, entered foreclosure and sold for $495 a few months ago.

9) 4516 N Via Bellas Catalinas was under contract in 9 days in 06 and sold for it’s $890,000 list price. They re-listed it in 08 for $985 and it expired, unsold, this April, still for $985. They’re right, it’s the buyers that are wrong.

10) 5460 N Placita Taza went for $890,000 in 06, was relisted about a year ago for $995 and can now be yours for $899,900. Such a deal.

No one is about to pay 06 prices in 09. But still they try, try and try again.

11) 6500 N Campbell Ave sold for $922 then, was listed for $990 in 08, with no sale, and can now be had for $899.

12) 5260 N Valley View Rd- they paid $925 in 06, yet they expected, but didn’t get, $1,195,000 when they listed in 08. Slow to come around it’s still 75 thou more than they paid in 06.

13) 6760 N Placita Acebo, Despite selling for $940 in 06, it’s been on the market since December 08, first at $850, now at $799 and still not a single taker. And a short sale too.

14) 4653 N ROCKY CREST sold for $950 in 06 and rather than sell it, they tried and tried to rent it, but no-go. and now I learn, have rented it as of June 1, for an undisclosed sum.

15) 5455 E Gleneagles Dr, in Skyline Country Club, sold in 06 for $950 and real quick this January, for $575 as a short sale.

16) 4755 N Camino Real, a charming remodel of a 1940’s hacienda, sold in one day for $965 back then. Listed this January for $985, then reduced to $899, they quickly determined that these were not the good old days, and yanked it from the market in March. And it’s not been seen since.

17) And ta-da!  6950 E Wild Canyon Pl that sold for $995 in 06, was relisted for $1,195,000 in 08, then reduced and reduced…
until it was a foreclosure and is now priced at $667,900, $31,000 less than it sold for in 04.

So pretty much the same story here; the only homes that are selling are selling for well below what they sold for back then. It’s the ugly truth. Spread it around.

102 homes, priced $750 to $999, sold in 06. These are the 17 that have tried, with not much luck, to sell again now.

Comments

[john schneider]

Kathy, Thank you

[Kathy]

Hey John,

4653 N. Rocky Crest Place was rented as of June 1.