Flipper Tests Market and Fails
1213 EAST LANE, IMPERIAL BEACH
This flipper tried to pull a quicky on some sucker when he listed this home for sale on 7/15/2006 for $950,000 only 20 short months after purchasing it for $740, 000 in November 2004. Well 88 days have passed and this flipper has lowered his asking price to $799,000-$850,000.
This flippers hair has grown too long and it's time for another $100K "hair cut" to $699-750K. If I were him, I would get on my knees and pray I break even on this one.
4 comments:
Holy shite. It should not ever cost more than $200K to live in IB. Even on the coast.
Yeah, it's close to the border. A lot of immigrants and low income people live there. The beach itself is a notorious place for needle drug users. Some people live there just because they want affordable beach property, but that's just not the case anymore either.
rerip,
By 2008-2010, I would look into Encinitas, Solano Beach, and Del Mar.
IB is not that bad, just like Long Beach, it has its good and bad areas. I personal would stay above the 8 and west of the 15.
That is one fugly house.
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