patrick.net

http://www.redfin.com/CA/Daly-City/684-Higate-Dr-94015/home/1889582

Another flipper who thinks they can add granite/stainless, polish up the floors and make a quick $160k. I don't think that price will fly unless some sucker comes along and likes to be fogged in 350 days a year. Also the backyard is up against the highway so you must like lots of road noise. No thanks.

Jul 21, 2011 Listed (Active) $585,000 --
Jul 21, 2011 Listed (Active) $585,000 --
May 20, 2011 Sold (Public Records) $426,000 -10.0%/yr
May 20, 2011 Sold (MLS) (Sold) $426,000 --
Apr 26, 2011 Pending (Pending Without Release) --
Apr 11, 2011 Listed (Active) $374,900 --
Mar 01, 2011 Sold (Public Records)
This home was sold at a foreclosure

auction. $598,727 -- Public Records
Feb 23, 2011 - Delisted (Cancelled)
Dec 18, 2010 - Listed (Active)
Aug 15, 2006 Sold (Public Records) $705,000
Jul 24, 2006 Delisted
Jul 21, 2006 Sold (MLS) (Sold) $705,000
Jun 03, 2006 Listed $690,000

Daly sh*tty?

Katy Perry says

Daly sh*tty?

Reminds me of when I lived in Chicago, and heard mayor Daley say "the shitty of Chicago" by mistake on the radio. Laughed so hard I spilled my coffee, because it was so Freudian and so true.

I love Chicago, but have to admit parts of it are quite shitty.

E-man says

That must be some nice granite counters and stainless steel appliances. I wouldn't call someone who could afford to buy a $600k house, with the current lending standards, a sucker.

Success isn't by chance, but by choice.

I think there are lots of suckers who could qualify for that loan. Just because you qualify doesn't mean you are not a sucker IMO. If someone does buy this it will almost certainly be an FHA loan, from my perspective that is who is buying all these flips for top dollar. Also if you had a short sale just 2 years prior you can get an FHA loan.

E-man says

with the current lending standards, a sucker.

Red herring. Current lending standards are often closer to traditional Prime standards (20% down, 28% ratio for PITI, 36% ratio for overall debt).

However, FHA would be likely here too, no?

This property is in an excellent location for the zip code. You cannot hear the highway 35 in your backyard. This place has the same weather as the southern part of San Francisco; except you are at a higher location.

This property was picked up for below market value because a loan was not available. Missing lots of necessities such as water heater, all toilet fixtures, and etc.

The title is clouded. The listing agent does not know this yet :)

But you guys are right. Not worth $600k. They might get $550k for it.

E-man says

That must be some nice granite counters and stainless steel appliances.

I just bought appliances at Home Depot during 4th of July sale and recognize those appliances. The stove was 598, fridge was 600, dishwasher was 298, microwave was around 200. There were some rebates, and he got a $150 discount since he bought multiple kitchen appliances. I did a a lot of window shopping :)

vain says

You cannot hear the highway 35 in your backyard.

Is that because this is below grade? I'm assuming the noise is much louder if you're on the west side of Skyline, but then you also get better views.

vain says

The title is clouded. The listing agent does not know this yet :)

Any nice details for us?