Tuesday, August 21, 2007

How much would you pay for this dump?




Great home with great potential. This home needs some work but is priced Accordingly! This property is sold as is! Come and take a look today!

offered at $145,000.

19 comments:

Rob Dawg said...

Depends on the electricy use history. If it is high we can get a few good crops out before being raided. Too low and the jump would alert the DEA.

Bakersfield Bubble said...

BAHHAHAHAHAHA

TheFunSucker said...

these poor folks bought this place for for 35k in '01 then refi'd in '05 for 48k and then again in '06 for a whopping 123k! Assuming they paid off the 48k this netted these folks with 75k and they obviously didn't put it back into the house! So what did they do with it...I'll bet there's a pretty nice vehicle in the driveway or maybe even a boat of RV.

I'll say it again, I have no pity for ignorant folks that pull that kind of cash out and blow it on whatever they blew it on. They had to have known they could not afford the payment (I am guessing they cannot afford as they are now selling it for about what they owe with fees just as everyone elese is trying to do) The loan shows as an adjustable at 8.75%. Won't be long until this place ends up on the block.

Concerning our local RE 'expert' with years of experience, I figured he moved on to greener pastures! The home he owns down the street was finally rented out as it was not selling, even with all that'built in' equity. I'll guess the renters will have the place thrashed in a year, sure glad I'm renting!

Bakersfield Bubble said...

Thanks for the information funsucker!

rrastronomo said...

Crispy,
cked out the beezer home on panama and buena vista there was no 100k off the price. we did however find a dr horton home in a gated community by old river rd for 257k after all incentives (1800 sq ft.) granitecounter tops stainless steal appliances-- oh yeah! just the beginning though

Bakersfield Bubble said...

rrastronomo -

The 100k was off the highest price homes in one of BZH developments.

I am sorry I did not save the ad, I will give more details the next time I post, I dont want anyone to think I am trying to mislead.

Thanks for the update!!

Bakersfield Bubble said...

" this place for for 35k in '01 "

When "homes" like this reach $50k we will be close to the bottom.

Bakersfield Bubble said...

That is $142.78 per sq foot for new construction in a gated community, we are moving the right direction...

EPblog said...

Well, Alec Baldwin did say it takes brass balls to sell real estate.

W.C. Varones said...

In other news, David Crisp goes to England.

link

rrastronomo said...

wc
are you for real? crisp got arrested in England?

Tyrone said...

If that's the same David Crisp, he's an even bigger a$$hole than I thought, and I didn't think it could get bigger.

Raynor said...

Varones: Thats truly funny!

Good catch!

Too bad they took OUR David's passport!

(maybe Feds read this blog?)

wine country dude said...

And it has a "gated yard"! I think I'm going to bid over the asking price.

Gwynster said...

LOL I see craptastic values like that all the time in Sacramento now. What was the name of the blog that used to feature the ugliest, most overpriced RE in every market? I miss them.

Bakersfield Bubble said...

gwynster -

yes I remember that blog - overpricedrealestate blog. They left the scene and I think they sold the blog to someone for $$$ because of all the hits they received for showing that little "island" for sale for some ungodly amount of money.

Phil said...

rrastronomo, or anyone else has bought new construction lately, what incentives are the builders willing to throw in? my wife and I are looking to possibly buy in the next few months, and are intrested in how much the builders are willing to bend...is there a blog that specifically addresses this?

Bakersfield Bubble said...

phil-

All the bloogs address this issue. You just need to wade through all the comments to find these nuggets.

All the national Home builders visit these blogs :)

Anonymous said...

Great as Meth Lab or Gang Hideout!.