A big congratulations to our friends at 803 Ida in Solana Beach on their fourth anniversary on the MLS.
We first covered 803 Ida back in 2008 when they were asking $995,000, down from $1.2 million earlier. Then on their second anniversary, they were asking $899,000. Two years later, and they are at $749,000. Just wait until 2013 and you'll be able to pick it up for $600,000. Unfortunately, all that time on the market hasn't been kind to the building. The Redfin agent notes that it "could use a little TLC."
In other news of misguided Solana Beach condo developers, remember 140 - 146 N. Rios? These glue-sniffers were trying to sell strip-mall-view condos for the same price as nearby big, beautiful, ocean-view single-family homes. Well, that didn't work out so well. Three years later, they're still trying to sell them at the same asinine prices.
"Seller may carry" indeed. That dude would carry you on his back across the Sahara Desert if you'd give him $1.65 million for a concrete jungle condo.
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There's a whole new wave of people in foreclosure, losing their houses. Soon the banks will have even more over priced homes that they can't sell, listed at unrealistic prices.
I figure I could get a little better than $350,000 for my house in Huntington, that was worth about $700,000 five years ago. They're trying to get just under $500,000 for the ones on the market.
They aren't selling like hotcakes.
You can get a nice 5-7 year old, 5bd/3ba, 3,000 sq ft house in the Merced area for about $40,000. Any takers?
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