patrick.net

Don't forget the triangle lot, making it nearly impossible to get approval to rebuild/expand that house. Whoever paid 750k for that thing in 2005 must be hating life. I bet they got to the 'well, we'll just foreclose' price and this will sit until the bank takes it back.

Its like playing Russian Roulette ..

Buyer in 2008 taking a loss, as did the buyer in 2007, after it was forclosed in 2006.

Looks like 3 former buyers-owners not to happy with this purchase..

What cost $243 in 1988 would cost $435.04 in 2009.
Mid 400K sounds more safe than 800K

Property History for 89 ENSENADA Rd
Date Event Price Appreciation Source

Dec 30, 2010 Sold (Public Records) $800,000 -12.5%/yr Public Records
Dec 30, 2010 Sold (MLS) (Sold) $800,000 -- Inactive MLSListings #81045668
Nov 17, 2010 Price Changed ** -- Inactive MLSListings #81045668
Oct 18, 2010 Price Changed ** -- Inactive MLSListings #81045668
Sep 15, 2010 Listed (Active) ** -- Inactive MLSListings #81045668

Oct 30, 2008 Sold (Public Records) $1,069,000 84.8%/yr Public Records
Jan 18, 2008 Sold (Public Records) $660,000 -32.7%/yr Public Records
Jan 22, 2007 Sold (Public Records) $975,000 7.6%/yr Public Records

Dec 01, 2006 Sold (Public Records)
This home was foreclosedForeclosure is a process that transfers the right of home ownership from the homeowner to the bank or lender. A home goes into foreclosure when the owner stops paying his mortgage loan payments.. $89,764 -- Public Records

Jan 28, 1988 Sold (Public Records) $243,000 -- Public Records

All,

I am currently looking at this house in what seems to be a market flooded with buyers currently. What should I be looking at as an offer price?

Why would you really want that house? It's an awkward lot, 2/1 with no possibility of expansion thanks to setbacks and lot shape, plus it's a flip. A complete inside remodel in 3 months = super-speedy who cares about craftsmanship flip. They tore out any good cabinetry and put in Ikea knock flats, slapped up the cheapest tile they could, and called it beautiful.

Look at how long it languished before selling before. It's a very undesirable lot, and all you get for it is San Carlos schools. If that's what you want, and being stuck with 2 bedrooms max forever is okay, then sure, it's your cheapest option. Very, very meh.

The property overview doesn't look great, but the pictures from the street look pretty nice. Decent sized front yard and back yard for the are. The house is pretty open, not a bunch of closed in mini rooms.

There isn't a lot of property, if you want to live in that area, it's always going to be a sellers market. Good demand, and few properties.

Don't buy this house if you believe in Feng Shui. This house has many bad Feng Shui. No Chinese will buy this house. Bought for $500k, put some lipstick on this pig & try to flip it for $680k. Nice.

Still no buyer. No surprise, the surprise would be if it sold.

Kozumasbullitt says

All,

I am currently looking at this house in what seems to be a market flooded with buyers currently. What should I be looking at as an offer price?

$49,995

Somewhere around $300K - $400K if you must bid on it.