Tuesday, August 11, 2009

Dumbest. Seller. Ever.: UPDATE II

Remember this dingbat in the Diplomat? Well he finally sold!

Just kidding. He's still a greedtarded moron.


Check out this ingenious pricing strategy:

Mar 06, 2007 - Listed $510,000
May 08, 2007 - Price Changed $508,000
Nov 16, 2008 - Price Changed $490,000
Dec 23, 2008 - Price Changed $480,000

Easy there, broseph! We can barely keep up with all those aggressive price cuts!

Hell, at this rate he'll have it sold in no time! And by "no time" I mean 2056.

I mean, maybe he simply forgot his apartment was for sale? Is that possible? Kind of like leaving the iron on or locking your keys in the car?

And do you remember this nearby condo I highlighted in the original post:

Or, would you rather buy this nearby condo with upgraded bathrooms and floors (our mental midget at 1401 only has carpet) for $319,000:

If you bought this tidy little place, with a price unchanged since April and 393 total DOM, you'd have enough left over to buy a car commensurate with your six-figure income ($112,000 is four times the local median income, you big baller!) like a Beluga black Bentley Continental GT with a turbocharged 6.0L W12 under the hood:

Yeah, well that dude sold in May for $225,000. Ouch. Doesn't portend well for Crazy McKookiepants asking $480,000.


  1. Yeah but if you were up to your eyeballs in HELOC debt like this guy, what chance do you have? I mean he is f-ed up because he can't sell, he can't pay back what he borrowed, and he doesn't want to ruin his credit with a foreclosure. Call it a Zombie seller- more dead than alive...

  2. Qualified,

    "Zombie Seller"--classic! I've never heard that term before but it perfectly encapsulates this seller and others like him.

    The thing is, if you add up all of these Zombie Sellers who are technically "for sale" but really have no intention (or choice) of selling for anywhere near market value, you start to see just how little "real" inventory is out there.

  3. I think this unit has been on the market since the units were converted into condos over three years ago. The other buyers paid those outrageous prices at the time. They are now stuck with monthly payments for their mortgages, property taxes and HOA fines at $3,500+ per month..........Shoulda waited!!! Much cheaper to rent. I expect short sales and foreclosures in this building soon.

  4. Do we have a crack in 90808???

    REO just hit the market for $297 psf on Studebaker, Cliff May Rancho for $449K.


    Remember, per an anonymous poster the house featured here ("Failed Flip in the Ranchos")at 7131 E Mezzanine was apparently sold at a little over 600K ($550 psf.) The house has been off Redfin for a LONG time now, so I don't know if it closed or not.

    Yes, there is a little premium for being off Studebaker, but not $150K for a SMALLER house.

  5. We looked at this and said WOW, I WOULD LOVE IT IF I WERE IN PRISON. Of course that was when they were asking $533 for this diamond, (the pile of dung needs to ripen and turn into coal and then have a few more million years to achieve its asking value.) I do remember saying something to the real estate agent is the owner completely mad or trying to make up lost investments. Oh well sadly we had to pass on the poo spewing gem, as we could not wait a few million years.