Elephantine Vanity and Greed

Well there's an interesting sales technique: Playing hard to get!

Feb 17, 2009 Relisted -- -- Oodle #876297025
Feb 04, 2009 Off Redfin -- -- Oodle #876297025
Jan 18, 2009 Relisted -- -- Oodle #876297025
Jan 04, 2009 Off Redfin -- -- Oodle #876297025
Dec 17, 2008 Relisted -- -- Oodle #876297025
Dec 05, 2008 Off Redfin -- -- Oodle #876297025
Nov 15, 2008 Relisted -- -- Oodle #876297025
Nov 13, 2008 Off Redfin * -- Inactive Oodle #2
Nov 11, 2008 Off Redfin -- -- Oodle #876297025
Nov 11, 2008 Listed * -- Inactive Oodle #2
Oct 27, 2008 Relisted -- -- Oodle #876297025
Oct 26, 2008 Off Redfin -- -- Oodle #876297025
Oct 08, 2008 Price Changed $365,000 -- Oodle #876297025
Aug 06, 2008 Off Redfin * -- Inactive Oodle #1
Aug 05, 2008 Listed * -- Inactive Oodle #1
Jul 21, 2008 Price Changed $369,900 -- Oodle #876297025
Jun 03, 2008 Relisted -- -- Oodle #876297025
Jun 02, 2008 Off Redfin -- -- Oodle #876297025
Apr 23, 2008 Listed $375,000 -- Oodle #876297025

WTF is going on here?

And after 302 days of bullshit, the price has only come down a measly 10 grand? A pathetic 2.75% cut in 10 freaking months?! This has to be a joke, right?

For all the crap I give to lazy realtors on this site, I have to say this For Sale by Owner listing makes a pretty good case for the services listing agents provide. A realtor would represent the best chance of some sense being slapped into this guy.

Address: 1418 E Florida St #1, 90802
Asking Price: $365,000
Year Built: 1981
Size: 2 beds, 2 baths, 964 square feet
$/Sq. Ft.: $379
HOA Fee: $150
Purchase price: N/A
Purchase date: N/A
MLS#: 876297025
On Redfin/Owners.com: 302 days
Down Payment: $73,000
Monthly Payment: $2,100
Income Requirement: $104,000
Description: Walking distance to Downtown Long Beach and Alamitos Beach area. Newly upgraded kitchen and bar area! Bamboo floors added on the main level with carpet in the bedrooms. Vaulted ceilings in bedrooms. Master bedroom has oversized window providing natural light. Upgraded master bath with tile flooring. Tankless water heater new as of 2006 provides endless hot water. All stainless steel appliances included!






This is a tidy little place, but anybody who either 1) Reads the Long Beach Housing Blog, or 2) Has a pair of working eyes, can figure out this tremendously tiny townhome is incredibly overpriced. But just how overpriced?

Here's all you need to know: Income Requirement: $104,000

Sorry, Charlie. Not in this neighborhood.

Other than this dumbshit at the Diplomat (skewered here), this is the highest asking price in the area by a long shot:

$289,999 1449 3rd St #303
0.05 miles 2 bd / 2 ba 858 Sq. Ft.

$229,900 1449 E 3rd St #204
0.05 miles 2 bd / 2 ba 810 Sq. Ft.

$299,900 1515 E Appleton St #304
0.13 miles 2 bd / 2 ba 780 Sq. Ft.

$279,900 1625 E Appleton St Unit 2a
0.18 miles 2 bd / 2 ba 987 Sq. Ft.

$250,000 1187 E 3rd St #207
0.18 miles 2 bd / 2 ba 1,041 Sq. Ft.

$269,000 1187 E 3rd St #311
0.18 miles 2 bd / 2 ba 1,039 Sq. Ft.

And let's not forget the competition in the same building, undercutting Count Walter VonWishfulthinking here by nearly $100,000:

$275,000 1418 E Florida St #3
0 miles 2 bd / 2 ba 964 Sq. Ft.

Good luck with your Wishing Price, pal!

Who knows what this guy is thinking. Running up and down those three flights of stairs must be reducing the amount of oxygen to his brain. Oh well, just another day of greed and delusion in the LBC.

I'm off to hit the slopes in Park City with some close friends, so no updates until next week. On that note, have a great weekend and as sappy as it may sound, I leave you with a quote from author Garrison Keillor:

"Even in a time of elephantine vanity and greed, one never has to look far to see the campfires of gentle people."