Sunday, May 06, 2007

727 Kirkwall Dr. San Marcos, List Price: $520,000

Where do we start here? This seller is already taking over a $150K loss on this home (if he gets lucky), yet I have yet to see why this is a good deal.
At $520K the taxes and HOA add up to about $700 per month.
Put 20% down on this house and your mortgage payment is $2,500.
So thats $3,200 a month with no utility bills, no landscaping, no home get the point.
The lenders, the state, the flippers and the builders are all making money off stupid people who purchased homes in the last 5 -years.
Hold off your purchase another year or two and you will be rewarded!


Anonymous said...

You are right on point. $520k is too much. For Carlsbad I may pay $350k for this property. That's what it's worth to me and my family, taking into consideration the need to save for retirement and my kids' college education.

Anonymous said...

I certainly hope Arizona, Doesn't end up as Greedy as California. I have been watching this market since 2003, here in AZ closely and feel that there is no excuse for stupidity anylonger . From Oregon to Chicago and back.