Scripps Ranch home under 2005 price
Listing Details (click to enlarge):
Previous Sale:
Comments:
Originally listed for $751K this owner, like other owners now-a-days, has come to reality that his home is not worth what he paid for it, thus the new listing price. On the market now for a 113 days, and with a flood of new listings after the holidays, his situation is grim. Already looking at a $80K loss, he needs to cut the price at least another $50-100K or in a blink of an eye the $80K loss can potentially be over $200K.
With todays market, I personally would have a very difficult time offering more than $500K. But that is only my opinion, what do I know anyway.
4 comments:
This owner of the 750k scripps ranch property is deserving of the losses he is now sustaining. Only a fool would pay 750k for a 2200 sq. foot house that is overinflated because of speculators driving up prices. I'm an attorney making good money and I would never pay 750k for that property because I would be house poor. These real estate agents who think real in person home buyers intending to live in SD are going to pay these prices are out just of their mind.
I have a unique perspective on one other thing that will be driving down prices, since it recently happened in our development. We bumped up HOA dues to $95 from $87. One of the houses that was under contract the buyers found out and withdrew the offer and sent in a much lower (3K lower I believe) offer since their monthly outlay had to be under some number and they weren't aware that HOA can go up. Builders totally shaft the buyers that way. Our dues were set waaaay too low. The builder left and we have had to raise it 2 years in a row. High HOA = lower prices.
Cool.
Cow_tipping.
I would never buy a house with HOA. People spend others money foolishly and who wants all that control over you?
If you live in an HOA development, you can always get on the board, and then create a movement to disband the association. They are created, they can be uncreated.
With a proper division of the Association's assets among the owners, you should be able to create enough self-interest for everyone to go for it.
What does your HOA really do for you? For SFR projects, not much!
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