In Cardiff-by-the-Sea (Encinitas), CA.
Asking price for a 732 square foot shack on a tiny lot that some dumbass paid $1.05 million for at the peak of the bubble in 2006? $1.095 million.
Dude, you're embarrassing yourself. Just give it back to the bank.
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You can get a three story, shotgun McMansion on a bigger lot, closer to the beach, with better access, in downtown Huntington Beach for the same or less, that I think would be a lot better deal but probably still overpriced. They're asking Laguna Beach money, only it ain't Laguna Beach, is it?
I think beachy property still has a way to fall. A lot of people are holding back from selling, thinking property values will rebound soon. I don't think it's true.
This place is a teardown. The fact that they even show interior photos indicates how misguided they are. I'd ask 650, hope for an offer of 550, take 450 and smile walking away. There's no way you could build anything up to code on that lot and get your money back.
I had a better view (and more space) from my $1250 a month apt in San Clemente, and I could walk to downtown. FAIL
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