Big Trouble in Point Loma Revisited
Last time we visited this flipper (This Old House Flip: Big Trouble in Point Loma)
his asking was $740K-$875K.
his asking was $740K-$875K.
Looks like he took a class on expectation management.
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Hi I'm Bob Flippa and welcome to "This Old House Flip". We will be investigating detailed examples of flippers attempting to quickly make a profit buying and selling the "American Dream" of owning a home in the San Diego County area. This blog serves to educate potential buyers of the unscrupulous activies of these flippers and will hopefully save you money in the longterm.
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- Big Trouble in Point Loma Revisited
- New website launches to save fools from foreclosure
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- Yes, even in Carmel Valley there are losers
- No easy flip in Escondido
- Flipper scratching head in Scripps Ranch
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2 comments:
What is with the range? Cant these idiot Realtors in OC come up with a price like the rest of the world? Everyone just looks at the lowest number any way? Did any one go to college?
This property is in Liberty Station which is a 400 acre parcel that the Navy released to the city - the city then gave it to Corky McMillan's development company - here are some comments I made on another blog:
The houses in Liberty Station are so close together you could borrow a cup of sugar from your neighbor by sticking your hand out the kitchen window.
I watched these things being built in 2004 and I was amazed that people were paying $800+K for them.
Even more amazed when they started turning over at $1+ mil.
Not surprising that many of them are currently For Sale.
Remember that these fine homes are just a few blocks from being under the flight path and they also get to enjoy the road noise from Rosecrans / Nimitz / Harbor Blvd along with the Navy jets on North Island.
Not to mention that McMillan had to remediate the hazardous waste at NTC before he started building these homes.
~
I took another swing thru Liberty Station this morning.
There are 16 For Sale signs with one of them flying a SOLD sign.
There are 209 detached boxes in Liberty Station so currently, 7% of the development is for sale. Anyone know how this compares to other developments around town?
Interestingly, ALL of the streets have at least one box for sale and some of the streets have as many as 4.
~
Interesting factoid about Liberty Station: McMillan didn't want to remediate the contaminated topsoil from the home sites so he trucked in 6 feet of clean topsoil before laying foundations.
Told the city that he needed the extra height so the sewage would drain!
Not to mention that he was then allowed to build up to the 30' height max after starting from the new raised ground.
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