Monday, April 6, 2009

A Pounding on the Promenade: UPDATE (sort of)



Dec 19, 2008 - Listed $389,000
Apr 03, 2009 - Price Increased $430,000

Now that's how you sell an overpriced condo!

Yep, if it hasn't sold in 108 days asking $389,000, YOU RAISE THAT FUCKING PRICE!

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6 comments:

  1. CarlMonday, April 06, 2009

    but..but.. It's got granite!!!!!!

    seriously, wtf is up with the long beach market??????????????????

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  2. el beeMonday, April 06, 2009

    Carl, you are going to love tomorrow's post!

    ReplyDelete
  3. MikeSunday, April 12, 2009

    ROFL

    ReplyDelete
  4. mdb in the lbcWednesday, May 06, 2009

    we've been keeping an eye on these places and were ready to make an offer when the bank finally pulled the file on these short sales and arbitrarily decided what the three condos with the exact same floor plan should be priced at. it's super retarded as they are the same, but with three fresh and excitingly different prices! and so they've been sitting. and so have we. HA.

    why wouldn't the bank want to unload these units that have dropped in value by freaking HALF to people that are pre-approved for a loan? nope, they'd rather jack up the price and wait patiently for the market to drop further. Real men of GENIUS.

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  5. el beeWednesday, May 06, 2009

    MDB,

    "why wouldn't the bank want to unload these units that have dropped in value by freaking HALF to people that are pre-approved for a loan?"

    Because they are waiting in earnest for housing to "bounce back." Hell, if I were a bank, I'd put my chips on a 2009 housing recovery too! I mean, accepting reality would be a difficult pill to swallow, so why not hope for the best?

    Thanks for commenting, and please keep us posted!

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  6. AnonymousSunday, May 31, 2009

    El bee,
    They've sold two of these townhouse units for around $435,000, which ought to wreck the home value for the entire building (most paid double and beyond). Now there's a third matchy-match unit the bank wants to get $435,000 for as well (short sale) ... and a penthouse foreclosure/REO with 500 more square feet for $465,000. Somehow this moron foreclosed since he purchased it in FEBRUARY for $682,000. Guess it was some sort of dine 'n' dash situation?
    THE SAGA CONTINUES... as the foreclosures keep comin'... :)

    -MDB in the LBC

    ReplyDelete

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