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  • PRICE CUT: Doing a Full 360

    A sale at the current price will result in a profit of roughly $2,900 after they pay their agent’s commission. Their dream of getting out of this without taking any financial damage is still alive. But they’ll have to wake up and face reality at some point. ********PREVIOUS POST BELOW******** Address: 42769 La Placida Ave, Big…

  • PRICE CUT II: FHA Fail

    With this recent price cut, it’s time to update our calculations: $585,337 (total mortgage debt) minus $495,000 (current ask) = $90,337. $90,337 minus $20,000 (owner’s forfeited down payment) = $70,337 (total forgiven amount). $70,337 plus $16,020 for listing agent fees = $86,357 (total loss to bank) I don’t know exactly how it works with FHA…

  • ANOTHER SALE: Competition Package

    A while back we noted that the buyer of Unit #10 overpaid for his condo, citing the other, much lower-priced listings in the building. Well now we have a sold comp to reaffirm just how badly Unit #10 blew it. Unit #31, which we noted was smaller but in similar condition, just let theirs go…

  • PRICE CUT: The Flip That Flopped

    At this point they have chopped 100 grand from their initial, wildly optimistic demand of $549,000. Assuming they can get this price, they will eat about $63,000. I applaud them for finally getting aggressive, but is it too little too late? *******PREVIOUS POST BELOW******* Address: 236 Greenspot Blvd, Big Bear City, CA 92314 Link: https://www.redfin.com/CA/Big-Bear-City/236-Greenspot-Blvd-92314/home/3527614 Beds/Baths: 3…

  • PRICE CUT II: Live, Laugh, Lose

    This is only their second price cut in eight months, in case you’re wondering how deep their delusion goes. A sale at this price will result in a $41,770 loss, but the market for these tiny shacks just isn’t there. If they truly want to sell then they need to drop the price below $300,000…

  • PRICE CUT: Seeing the Light (Saber)

    Oh man, I had forgotten about these people. Despite a full year on the market they are committed to these tiny, meaningless price cuts. Look at this sad, slow journey from Wishing Price ($475,000, $460,000), to Washing Price ($458,000), to Petulant Child ($439,900 – just $100 less than they paid), to Flesh Wound ($425,000, $419,900).…

  • PRICE CUT IV: The $1,000 Question

    While I understand sellers being slow to make meaningful price cuts in a desperate desire to avoid monetary loss, this is just getting sad. These people need to rip off the Band-Aid and get this thing sold. At this point they have been on the market for an astounding 233 days. For those of you…

  • PRICE CUT II: Stay Focused

    An astonishing four months since their last price cut, these dorks have finally made a move. Assuming a sale at this price (nope), they will clear $126,530. That sure sounds great, but as we know most 2021 buyers are lucky to break even and massive profits like this are just not happening – especially for…

  • The Flip that Flopped

    Address: 236 Greenspot Blvd, Big Bear City, CA 92314 Link: https://www.redfin.com/CA/Big-Bear-City/236-Greenspot-Blvd-92314/home/3527614 Beds/Baths: 3 bed, 2 bath, 1,440 squares Purchase Price (6/2022): $499,000 Asking Price: $479,990 Difference: -$19,010 Commission (3%): -$14,400 Total Loss: -$33,410 In June 2022, this fool threw down $499,000 ($20,000 over ask – oops!) and less than two months later tried to flip it for…

  • Doing a Full 360

    Address: 42769 La Placida Ave, Big Bear Lake, CA 92315 Link: https://www.zillow.com/homedetails/42769-La-Placida-Ave-Big-Bear-Lake-CA-92315/17620340_zpid/ Beds/Baths: 1 bed, 1 bath, 360 squares Purchase Price (11/2021): $323,000 Asking Price: $350,000 Difference: +$27,000 Commission (3%): -$10,500 Total Gain: +$16,500 In February 2021, right in the heart of the pandemic frenzy, this place sold for $187,000. Pretty decent deal, although not so…