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Brian
Posts:2649
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| 05/20/2008 2:50 PM |
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Around this time each month, I'll do a snapshot of Electra activity so store the data and track that building as the prices drop.
Electra pricing is causing heartburns for sellers are the other "primo" buildings.
Look at PPSF at Electra vs. those of the other resales. I'm too busy to do an analysis but if you're buying, you definitely need to ask your agent to so such an analysis for you.
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Attachment: Electra 2008-05-20.pdf
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Brian
Posts:2649
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| 05/22/2008 1:07 PM |
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Here's an example of prices tumbling below original Bosa prices of 4 years ago.
#1802
Now listed at $819,000
Purchased from Bosa: $843,200 on 1/17/2008
MLS-086023202-700_W_E_St_1802_San_Diego_CA_92101
When the original sales show up on SDlookup, I'm going to have a field day making notations. :)
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Brian
Posts:2649
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| 05/24/2008 12:13 PM |
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#3104
Below "lifetime opportunity" pride of 4 years ago. Remember, you had to line up and grovel to be offered that opportunity.
$755,800 Closed 2/22/2008
$744,500 Current list price. ($799,000 Original list)
+ 4 years of opportunity lost on 15% deposit + transaction costs + carrying costs = Pride of ownership + bragging rights to a losing investment..... And you don't even get to live in it.
MLS-086031622-700_W_E_St_3104_San_Diego_CA_92101
Description
Priced to sell today! Forever views that can be seen from one of the largest balconies in the building. Thoughtful layout features cherry floors and high-end carpet flooring. This home would make a great corporate housing alternative for anyone downtown san diego wanting a sunny escape...
Upgraded wiring for all of your electronic toys and tools. Generous closets and huge bathrooms. If you haven't seen the amazing common areas of this building, you're missing out. The sunny 5th floor pool recreation area boasts panoramic views that span the coast. There's a sauna, fully equipped exercise room and grassy outdoor fireplace and barbecue area, too. Inside, the original san diego gas and electric building has been transformed into one of the most grand, open and stunning spaces to gather and entertain your guests in. Steps to trains, trolley, downtown businesses, restuarants, gaslamp quarter, the bay front, marinas, seaport village and more. This home is bound to please the most discriminating buyer.
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Goingup?
Posts:167
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| 05/24/2008 1:22 PM |
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While Electra hasn't worked out so well for investor/flippers, I get a charge out of the fact you think losing a few grand is a big deal to those doing the flipping.
You have to remember all those buyers given the privledge of buying there were previous Bosa buyers. Most probably profited to the tune of 50% on Horizons, Park Place and the Grand prior to hitting the wall on Electra. So if the flipper was working on 800K units I think they could stand to lose a few K on Electra and still be OK. While you've worked hard, rented and saved all your money the last 8 years (and saved what, maybe 100K after taxes), they've made over 1M tax free and I suspect have been busy shopping. Smart as you are I suspect you already know this: you don't suppose your passion for posting here has something to do with jealousy, do you?
Here is one of the orginial owners of Park Place who just sold their unit for probably a 80% profit. BTW, when you find one forclosed property that sales cheap in a building and conclude the entire building is about to be forclosed on forcing prices down, can I use the same logic in reverse for this sale at Park Place. Is the entire building now worth 80% above 2003 prices? By your logic that must be the case, since where one sale exists all will follow.
Of course your logic is silly, and I don't think for a moment all the units at Park Place are now worth 80% above 2003 prices. But the premier units in the maria district continue to go up in price, and my guess this was/is a premier unit.
http://www.sdlookup.com/MLS-086035235-700_W_Harbor_Dr_1803_San_Diego_CA_92101
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anon66
Posts:37
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| 05/24/2008 1:44 PM |
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| I don't know why you're so concerned about Brian's posts. They simply are reflecting reality. They're clear cut examples of what's happening the market today and not the overvalued crap that contributed to this mess we all have to endure. I suppose if you had any confidence in your position, you would ignore his and any other posts you don't agree with. Brian doesnt sound angry, but you do. I was going to end this post with "piss off", but that wouldnt be very nice. :) ciao |
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Brian
Posts:2649
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| 05/24/2008 2:20 PM |
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Posted By BrianHater on 05/24/2008 1:12 PM
Brian, you are an idiot. A freak that delights in the misery of another. No wonder your wife left you and kicked you out. What a loser!
I left the broad. I couldn't stand the whinning anymore. I had a prenup and guess who has a better change at another relationship? I was planning to make up for this by voting for Hillary. But might have that opportunity.
Misery? What misery? According to to Goingup?, they are the priviledged ones that we should jealous of.
Goingup?, I'm not jealous in the least. I'm enjoying living in those nice buildings thanks to the buyers. Those condos wouldn't get built otherwise.
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Brian
Posts:2649
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| 05/24/2008 2:39 PM |
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Goingup? I'll be watching the foreclosure list to see which one of our privileged millionaire buyers end up getting their "pride" repossessed.
#2503
List Price: $925,000
Purchase: $1,051,500 closed 1/29/28
Minimum loss = $126,500
+ 4 years of opportunity lost on 15% deposit + transaction costs + carrying costs = Pride of ownership + bragging rights to a losing investment..... And you don't even get to live in it.
MLS-086008246-700_W_E_St_2503_San_Diego_CA_92101
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Brian
Posts:2649
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| 05/27/2008 1:21 PM |
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The new and resale units at Electra are sinking the Marina district (is Electra in Marina or Columbia?)
Be sure to watch the foreclosure list in the fall/winter.
#1802
List price: $816,000
Closed purchase: $843,200 1/17/2008 (remember that was the killer pre-construction deal that on the privileged were eligible for).
MLS-086023202-700_W_E_St_1802_San_Diego_CA_92101
Listing Price Changes
Price Reduced: 05/27/2008 from $817,000 to $816,000
Price Reduced: 05/25/2008 from $818,000 to $817,000
Price Reduced: 05/23/2008 from $819,000 to $818,000
Price Reduced: 05/22/2008 from $820,000 to $819,000
Price Reduced: 05/21/2008 from $821,000 to $820,000
Price Reduced: 05/20/2008 from $822,000 to $821,000
Price Reduced: 05/19/2008 from $823,000 to $822,000
Price Reduced: 05/17/2008 from $825,000 to $823,000
Price Reduced: 05/15/2008 from $826,000 to $825,000
Price Reduced: 05/14/2008 from $827,000 to $826,000
Price Reduced: 05/01/2008 from $847,000 to $827,000
Price Reduced: 04/12/2008 from $865,000 to $847,000
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philtheconqueror
Posts:37
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| 05/27/2008 2:41 PM |
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| Even at a $500/day decline... It'd still take over a year before I even start to consider that unit. |
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Brian
Posts:2649
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| 05/27/2008 9:26 PM |
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Today #1802 was reduced a whopping $1000.
I guess they are desperate to get offers in by 6/1/2008
Description
Best offer over $815,000 good until 06/01/08. 2 parking spaces! Full west facing views of the harbor. This prime electra condo is priced to sell now at below sellers cost. Ash hardwood floors, beautiful granite counters & 'shaker' style cabinetry. Condo includes storage in garage. Will not last at this price! Act now.
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Brian
Posts:2649
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| 05/29/2008 9:38 PM |
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Now listed for $895,000
So much for the millionaires with unlimited staying power.
700_W_E_St_1503_San_Diego_Ca_92101
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Parcel Number: 533-532-10-57
Property Location: 700- E ST WEST #1503
Purchase Price: $982400
Living Area: 1370
Bedrooms: 2
Bathrooms: 2
Document Date: 1-10-2008
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Brian
Posts:2649
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| 05/31/2008 8:29 PM |
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Another " privileged owner" is listing below cost. What a gift from above!
Minimum Loss = $51,500
+ 4 years of opportunity lost on 15% deposit + transaction costs + carrying costs = Pride of ownership + bragging rights to a losing investment..... And you don't even get to live in it.
#101
Price: $598,000
MLS#: 086036547
Days on Market: 12
Listed: 05/19/2008
Parcel Number: 533-532-09-01
Property Location: 700101 E ST WEST
Purchase Price: $649500
Living Area: 1305
Bedrooms: 2
Bathrooms: 2
Document Date: 2-8-2008
MLS-086036547-700_W_E_St_101_San_Diego_CA_92101
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Brian
Posts:2649
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| 05/31/2008 8:36 PM |
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ahh!! The sweet smell of success and privilege!
#306
Minimum Loss = $22,000
+ 4 years of opportunity lost on 15% deposit + transaction costs + carrying costs = Pride of ownership + bragging rights to a losing investment..... And you don't even get to live in it.
Price: $720,000
Beds/Baths: 2 / 1.5
Square Feet: 1,491 sf
PPSF: $483
Listing
MLS#: 086027477
Days on Market: 48
Listed: 04/13/2008
Parcel Number: 533-532-09-15
Property Location: 700306 E ST WEST
Purchase Price: $742000
Living Area: 1491
Bedrooms: 2
Bathrooms: 2
Document Date: 3-26-2008
MLS-086027477-700_W_E_St_306_San_Diego_CA_92101
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Brian
Posts:2649
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| 05/31/2008 8:43 PM |
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#518
Price: $735,000
PPSF: $474
Miniumum Loss = $300 + 4 years of opportunity lost on 15% deposit + transaction costs + carrying costs = Pride of ownership + bragging rights to a losing investment..... And you don't even get to live in it.
...... And the end is nowhere near.
Parcel Number: 533-532-09-38
Property Location: 700518 E ST WEST
Purchase Price: $735300
Living Area: 1513
Bedrooms: 2
Bathrooms: 1
Document Date: 1-17-2008
MLS-086011477-700_W_E_St_518_San_Diego_CA_92101
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Brian
Posts:2649
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| 06/03/2008 1:19 PM |
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Don't you think that the cabinets at Electra are ugly and too traditional for such a building?
It looks like some kitchen in the suburbs.
Oak cabinets remind me of the 1980s.
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Brian
Posts:2649
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| 06/03/2008 2:02 PM |
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#3706
Price: $1,200,000
MLS#: 084024937
Days on Market: 61
Listed: 03/26/2008
Minimum loss = $29,900
+ 4 years of opportunity lost on 15% deposit + transaction costs + carrying costs = Pride of ownership + bragging rights to a losing investment..... And you don't even get to live in it.
Parcel Number: 533-532-12-33
Property Location: 700- E ST WEST #3703
Purchase Price: $1229900
Living Area: 1389
Bedrooms: 2
Bathrooms: 2
Document Date: 2-29-2008
http://www.sdlookup.com/MLS-084024937-700_W_E_St_3703_San_Diego_CA_92101
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philtheconqueror
Posts:37
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| 06/03/2008 9:49 PM |
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| I must admit that I've never been to Electra so I cannot say how nicely designed it is but I definitely would have expected something a little more modern and upscale than that picture shows.... then again, who said that those w/ money had any style! |
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Brian
Posts:2649
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| 06/13/2008 12:22 PM |
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#1906
So much for view condos increasing in prices.
Remodeled to remove the den.
seller also claims $30,000 in upgrades.
Minimum loss = $100,000??
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4 years of opportunity lost on 15% deposit + transaction costs +
carrying costs = Pride of ownership + bragging rights to a losing
investment..... And you don't even get to live in it.
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Attachment: Electra #1906.pdf
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Brian
Posts:2649
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Brian
Posts:2649
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| 06/19/2008 11:52 AM |
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#1701
Purchased for $1,039,400 (2004 amazing, privileged buyer, never to be repeated price).
Now listed at $1,099,900
"it is a historic treasure that can not be duplicated at any price." Yet the prices keeps on dropping.
All flip profits are virtually gone.
+ 4 years of opportunity lost on 15% deposit + transaction costs + carrying costs = Pride of ownership + bragging rights to a losing investment..... And you don't even get to live in it.
My bet is that his unit eventually goes into foreclosure.
http://www.sdlookup.com/MLS-086003837-700_W_E_St_1701_San_Diego_Ca_92101
Listing Price Changes
Price Reduced: 05/07/2008 from $1,157,000 to $1,099,900
Price Reduced: 05/07/2008 from $1,157,000 to $1,099,900
Price Reduced: 05/05/2008 from $1,160,000 to $1,157,000
Price Reduced: 03/14/2008 from $1,169,500 to $1,160,000
Price Reduced: 02/21/2008 from $1,195,000 to $1,169,500
Price Reduced: 02/13/2008 from $1,225,000 to $1,195,000
Price Reduced: 01/28/2008 from $1,250,000 to $1,225,000 |
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