Northpark Flip: 2 Malibu

[akula1488]

NonFCB is a legendary, TIC certified, genius.

He would be trying to get out of the bet now since it was de-listed.  Guess no one was willing to pay $1.1m+ living next to Culver, eh?

Yeah I guess no one was smart enough to understand pricing strategy. They are just losers hoping Irvine prices can fall 50% so they can afford to live here.

this just got relisted? what's the inside scoop? the seller found some dumb FCB buyer?

 

[usctrojancpa]

NonFCB is a legendary, TIC certified, genius.

He would be trying to get out of the bet now since it was de-listed.  Guess no one was willing to pay $1.1m+ living next to Culver, eh?

Yeah I guess no one was smart enough to understand pricing strategy. They are just losers hoping Irvine prices can fall 50% so they can afford to live here.

this just got relisted? what's the inside scoop? the seller found some dumb FCB buyer?

It was changed to "HOLD DO NOT SHOW" status on 8/14 and went back to "ACTIVE" status just after midnight.  It still won't less for more than $1.1M.

 

[IndieDev]

NonFCB is a legendary, TIC certified, genius.

He would be trying to get out of the bet now since it was de-listed.  Guess no one was willing to pay $1.1m+ living next to Culver, eh?

Yeah I guess no one was smart enough to understand pricing strategy. They are just losers hoping Irvine prices can fall 50% so they can afford to live here.

this just got relisted? what's the inside scoop? the seller found some dumb FCB buyer?

NonFCB's dad is initiating his "pricing strategy" plan B entitled "Chase the market down!"

 

[IndieDev]

NonFCB is a legendary, TIC certified, genius.

He would be trying to get out of the bet now since it was de-listed.  Guess no one was willing to pay $1.1m+ living next to Culver, eh?

Yeah I guess no one was smart enough to understand pricing strategy. They are just losers hoping Irvine prices can fall 50% so they can afford to live here.

this just got relisted? what's the inside scoop? the seller found some dumb FCB buyer?

It was changed to "HOLD DO NOT SHOW" status on 8/14 and went back to "ACTIVE" status just after midnight.  It still won't less for more than $1.1M.

Maybe I don't understand pricing strategy, but I am old enough to have observed the last real estate bubble, and everything that's happening now reminds me of the shadow of what happened last time. It makes me wonder if a lot of the bubble owners today are sub-40 years old. There's no plausible explanation besides stupidity for anyone 40+ to have fallen into this bubble trap of 1998-2007.

 

[akula1488]

NonFCB is a legendary, TIC certified, genius.

He would be trying to get out of the bet now since it was de-listed.  Guess no one was willing to pay $1.1m+ living next to Culver, eh?

Yeah I guess no one was smart enough to understand pricing strategy. They are just losers hoping Irvine prices can fall 50% so they can afford to live here.

this just got relisted? what's the inside scoop? the seller found some dumb FCB buyer?

It was changed to "HOLD DO NOT SHOW" status on 8/14 and went back to "ACTIVE" status just after midnight.  It still won't less for more than $1.1M.

Maybe I don't understand pricing strategy, but I am old enough to have observed the last real estate bubble, and everything that's happening now reminds me of the shadow of what happened last time. It makes me wonder if a lot of the bubble owners today are sub-40 years old. There's no plausible explanation besides stupidity for anyone 40+ to have fallen into this bubble trap of 1998-2007.

Do you think this will sell for $888,888.88?

 

[IndieDev]

Honestly the owner could probably dump the house right now at a loss (because of commissions) for low 900s, and might be able to get rid of it before the seasonal slump that usually accompanies winter. Beyond that, I see too much downside to try and hold the house for a $1.1m hail mary, full cash, chindian buyer.

 

[iacrenter]

So to recap, we are at 145 days and counting and the home has relisted for $1.188M! WTF! I guess RE has rebounded since the last time I checked.
http://www.redfin.com/CA/Irvine/2-Malibu-92602/home/5772647


Date Event Price Appreciation Source
Aug 25, 2011 Relisted (Active) -- -- SoCalMLS #S653830
Aug 14, 2011 Delisted (Hold) -- -- SoCalMLS #S653830
Jul 25, 2011 Price Changed $1,188,888 -- SoCalMLS #S653830
Jul 19, 2011 Price Changed $998,888 -- SoCalMLS #S653830
May 18, 2011 Price Changed $1,118,888 -- SoCalMLS #S653830
Apr 25, 2011 Price Changed $1,149,000 -- SoCalMLS #S653830
Apr 02, 2011 Listed (Active) $1,199,000 -- SoCalMLS #S653830
Jan 22, 2009 Sold (Public Records) $900,000 -- Public Records

 

[usctrojancpa]

So to recap, we are at 145 days and counting and the home has relisted for $1.188M! WTF! I guess RE has rebounded since the last time I checked.
http://www.redfin.com/CA/Irvine/2-Malibu-92602/home/5772647


Date Event Price Appreciation Source
Aug 25, 2011 Relisted (Active) -- -- SoCalMLS #S653830
Aug 14, 2011 Delisted (Hold) -- -- SoCalMLS #S653830
Jul 25, 2011 Price Changed $1,188,888 -- SoCalMLS #S653830
Jul 19, 2011 Price Changed $998,888 -- SoCalMLS #S653830
May 18, 2011 Price Changed $1,118,888 -- SoCalMLS #S653830
Apr 25, 2011 Price Changed $1,149,000 -- SoCalMLS #S653830
Apr 02, 2011 Listed (Active) $1,199,000 -- SoCalMLS #S653830
Jan 22, 2009 Sold (Public Records) $900,000 -- Public Records

I guess even the great Mike Dunn and his great descriptions can't get this one sold for over $1.1m.  More proof that PRICE matters more than the listing agent.

 

[irvinehomeowner]

It's like the Lotto, he's trying all the different 8 combinations until he hits the right price.

 

[IndieDev]

$888,888,888.88  and have a master Feng Shui master certify the house.

C'mon Mike Dunn, show how cultural sensitive you are! 

 

[davenlei]

So to recap, we are at 145 days and counting and the home has relisted for $1.188M! WTF! I guess RE has rebounded since the last time I checked.
http://www.redfin.com/CA/Irvine/2-Malibu-92602/home/5772647


Date Event Price Appreciation Source
Aug 25, 2011 Relisted (Active) -- -- SoCalMLS #S653830
Aug 14, 2011 Delisted (Hold) -- -- SoCalMLS #S653830
Jul 25, 2011 Price Changed $1,188,888 -- SoCalMLS #S653830
Jul 19, 2011 Price Changed $998,888 -- SoCalMLS #S653830
May 18, 2011 Price Changed $1,118,888 -- SoCalMLS #S653830
Apr 25, 2011 Price Changed $1,149,000 -- SoCalMLS #S653830
Apr 02, 2011 Listed (Active) $1,199,000 -- SoCalMLS #S653830
Jan 22, 2009 Sold (Public Records) $900,000 -- Public Records

It looks like his strategy started off with putting the price just under the top end of 'search' ranges for home prices and then shifted to the 'magic 8 ball' pricing strategy to snag an FCB.  Looks like neither is working out for him/her. 

Was the de-list and re-list to try to restart the MLS clock on the property? 

 

[usctrojancpa]

So to recap, we are at 145 days and counting and the home has relisted for $1.188M! WTF! I guess RE has rebounded since the last time I checked.
http://www.redfin.com/CA/Irvine/2-Malibu-92602/home/5772647


Date Event Price Appreciation Source
Aug 25, 2011 Relisted (Active) -- -- SoCalMLS #S653830
Aug 14, 2011 Delisted (Hold) -- -- SoCalMLS #S653830
Jul 25, 2011 Price Changed $1,188,888 -- SoCalMLS #S653830
Jul 19, 2011 Price Changed $998,888 -- SoCalMLS #S653830
May 18, 2011 Price Changed $1,118,888 -- SoCalMLS #S653830
Apr 25, 2011 Price Changed $1,149,000 -- SoCalMLS #S653830
Apr 02, 2011 Listed (Active) $1,199,000 -- SoCalMLS #S653830
Jan 22, 2009 Sold (Public Records) $900,000 -- Public Records

It looks like his strategy started off with putting the price just under the top end of 'search' ranges for home prices and then shifted to the 'magic 8 ball' pricing strategy to snag an FCB.  Looks like neither is working out for him/her. 

Was the de-list and re-list to try to restart the MLS clock on the property? 

Nope, when a property's status is changed to "HOLD DO NOT SHOW" the clock continues to tick.  It is still the same MLS listing number.