***Official Real Estate Thread***

One-Off

Tom Curren status
Jul 28, 2005
10,880
5,661
113
33.8N - 118.4W
For me it's related to the retirement thread. We'd like to downsize or move to a lower rent district to get rid of the mortgage. So I'm always looking.

This one's a little outside my geogrpahic range but I thought I'd share it here for you guys/gals/whatevers. Seems like a great opportunity ....or not. Maybe for a flip. Or for people who like to hit their heads on piers...

 
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LifeOnMars

Michael Peterson status
Jan 14, 2020
3,164
2,097
113
For me it's related to the retirement thread. We'd like to downsize or move to a lower rent district to get rid of the mortgage. So I'm always looking.

This one's a little outside my range but I thought I'd share it here for you guys/gals/whatevers. Seems like a great opportunity ....or not. Maybe for a flip. Of for people who like to hit their heads on piers...

looks like a tear down, you basically paying for the land
 

One-Off

Tom Curren status
Jul 28, 2005
10,880
5,661
113
33.8N - 118.4W
looks like a tear down, you basically paying for the land
I take umbrage with that attitude. I, instead, would be thinking you could throw $100,000-$200,000 into it and have a home within minutes of surf in Southern Ca for under $600,000 (for some reason the link I put up does not show the price but my email alert shows $400,000). If you've been looking for homes in coastal so cal....

I bristle when realtors in my neighborhood list the old 1920's bungalows as teardowns. Inspired me to become a city commissioner (historic preservation). Do whatever I can to save them from becoming 2-3 on a lot, pseudo spanish stucco monstrosities.
 
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LifeOnMars

Michael Peterson status
Jan 14, 2020
3,164
2,097
113
I take umbrage with that attitude. I, instead, would be thinking you could throw $100,000-$200,000 into it and have a home within minutes of surf in Southern Ca for under $600,000 (for some reason the link I put up does not show the price but my email alert shows $400,000). If you've been looking for homes in coastal so cal....

I bristle when realtors in my neighborhood list the old 1920's bungalows as teardowns. Inspired me to become a city commissioner (historic preservation). Do whatever I can to save them from becoming 2-3 on a lot, stucco monstrosities.
Looks like the structure could be decent, hard to tell from that singular photo. Looks like at least it would be a total Reno of the in and outside. could possibly be done for less than 200k if you’re ready to do some of the work yourself. was overseas for most of the year but heard building materials were going through the roof. Maybe better to wait for another financial collapse, shouldn’t be that far off.
 

grapedrink

Duke status
May 21, 2011
20,065
9,455
113
A Beach
Maybe better to wait for another financial collapse, shouldn’t be that far off.
I dunno. There are a lot less bad loans floating around this time around. Plus there is a lot of cash on the sidelines waiting to buy up desirable coastal real estate in the event of a dip. If/when there is a correction, it will be nothing like 2008 for the top zip codes.
 
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LifeOnMars

Michael Peterson status
Jan 14, 2020
3,164
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I dunno. There are a lot less bad loans floating around this time around. Plus there is a lot of cash on the sidelines waiting to buy up desirable coastal real estate in the event of a dip. If/when there is a correction, it will be nothing like 2008 for the top zip codes.
money printer go brrrrrr until it don't
 
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_____

Phil Edwards status
Sep 17, 2012
6,723
2,814
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That home is at the base of the La Conchita mudslide. Neighboring homes are literally underground or partially buried.:drowning:

Screen Shot 2021-10-30 at 3.24.19 PM.png
 
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One-Off

Tom Curren status
Jul 28, 2005
10,880
5,661
113
33.8N - 118.4W
That home is at the base of the La Conchita mudslide. Neighboring homes are literally underground or partially buried.:drowning:

View attachment 118600
Didn't realize that. Kind of like buying property in Puna on the Big Island.

OK. Next listing. $3,000,000 mobile home-

 

LifeOnMars

Michael Peterson status
Jan 14, 2020
3,164
2,097
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Agreed, but who’s going to stop it? :drowning:
Even if it stops, there’s plenty of smart money out there that’s been saving who will pounce.
it will stop, already has been decided by your overlords. marks these words, within the next 6 months there will be a financial collapse. the rug will be pulled and many gonna fall flat on their face.
 

npsp

Michael Peterson status
Dec 30, 2003
2,928
1,624
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down the hill and to the right
Visit site
it will stop, already has been decided by your overlords. marks these words, within the next 6 months there will be a financial collapse. the rug will be pulled and many gonna fall flat on their face.
You are not far off. It won't be an apocalypse but it is slowing down in some areas. Per my wife, Zillo is sitting on a load of properties that they over paid for and are going to be in deep $hit with at some point.
 

potato-nator

Phil Edwards status
Nov 10, 2015
6,066
1,273
113
the last real estate slowdown was brutal in these parts..
my county led the nation in foreclosures for years.
:eek: