OC Flip Track Blog

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o0odianao0o_IHB

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Ok, so I went to my other favorite blog today and it says I can't see the blog because I am not invited! How do I get invited to see the blog? I got the link to this blog off the OC Flip Track blog, so I hope I am not out of line in posting this here. Thanks in advance for your help!
 
Hmm.. same thing here. I think OC Fliptrack might have been playing around with some settings ;) I'll send him an email right now.
 
<p>I'm back... I had a little "technical issue". Long story.</p>

<p>I'm shocked at how many people e-mailed me privately and requested access to the blog. I guess a few people actually read the crap I post. Half the time I look at my posts while writing them and I wonder why anyone bothers. Seldom do I write about anything that resembles an original thought... ;-)</p>
 
<p><em>"I'm shocked at how many people e-mailed me privately and requested access to the blog. I guess a few people actually read the crap I post. Half the time I look at my posts while writing them and I wonder why anyone bothers."</em></p>

<p>We do. I gotta say I'm always excited when I do my daily checkin, and then let down when there isn't a new flip of the day. I know it's not easy to keep them coming, but with some support and continued tips, I think you could do it.</p>

<p>Thanks</p>

<p>SCHB</p>
 
<p>Just when I wake-up and decide that I don't care about blogging any longer, something comes along which <a href="http://www.oc-fliptrack.com/2007/05/westpark-reo-comp-buster.html">excites me</a> and there I go again!</p>

<p>A 3/2.5 at $525k was absolutely unthinkable six months ago.</p>
 
I featured that one. Time for an update:

<a title="Permanent Link to Mazzoni Aisle Flop" rel="bookmark" href="http://www.irvinehousingblog.com/2007/04/20/mazzoni-aisle-flop/" set="yes">Mazzoni Aisle Flop</a>
 
<p>Nice of them to mention that. Better to hide it from the public. Then they show up to the unit, see the damage, and focus on the disappointment rather than the unit. Any mention of what is damaged?</p>
 
<p>oc_flip</p>

<p>8 Mozzoni was last bought by someone who had the same name as the buying agent in late 2005. The loan was 100% financing, suprime!. It was on the market for short sale but no taker so it went back to the bank.</p>

<p>Here is the note about this property to agent. I can share this "for agent only" info because the listing expired on 5/13/07, just before the bank bought back: </p>

<p><em>Agents, see storage area in garage which has standing water in the step down area. HOA is working on resolving problem. Listing Office has reports from Water Expert. Please bring prequalified buyer with proof of funds and good FICO scores. Property to be sold in as-is conditions with no expressed or implied warranties</em> </p>

<p>Who would be willing to purchase something like this? Any blogger cares to comment?</p>

<p>So far, I have not seen any property that sold or being sold under short sale or foreclosure sale "good deal" for buyers. These properties are risky buys. I suppose good properties are snatched up early by either bank's agents or re agents. Any left over goes to the public. IMHO.</p>
 
<p>oc_flip,</p>

<p>Standing water seeps into the drywall and mold starts to grow, which I suspect possible since home is vacant for months. Drywall repair and mold clean up can run up to $50K or more. The question is will the problem recoccur in the future.</p>
 
Me and my wife got bored so we drove to this neighborhood. It has an electronic gate and we were lucky enough to follow someone in.





The neighborhood has a good vibe and atmosphere to it, lots of greenery. But its so dense, you can stick your hands out the window and borrow some salt from your neighbor. Even our current apartment is not that dense.





The unit is a corner unit which means it has a lot of windows. We did not get a chance to go inside but based on the listing pictures it seems like the whole layout is awkward.
 
<p>oc_flip,</p>

<p>I forgot to mention HOA takes care of common walls so the cost is spread evenly among all homeowners. This is a good news for buyers.</p>

<p>The bad news is HOA may have to raise assessments to cover for unexpected cost; therefore, raising HOA fees, which is bad when you sell. Always read the HOA's financial statements and liens when you purchase a condo.</p>

<p> </p>
 
<p>You'd think that someone would be proactive and starting pulling drywall from the problem area, if for no other reason than to discourage further mold growth and possibly find the source of the leak.</p>

<p>Broken houses bug the crap out of me. Probably because they're so expensive... I have the mindset that anything that costs a half million dollars ought to be perfect. Yes, I know better.... But still. </p>
 
<p>I don't where else to post this so here goes; I was clicking through this site and somehow arrived at an old flip blog originally posted by Zovall. </p>

<p>Without too much asurety as to what this means, it seems zillow shows a sale of this home, (108 Mosaic in zip 92603), on 4/25/07 with two prices; $1,587,500 and $1,500,000, both of which are less than the last updated asking price of $1,693,000. </p>

<p>The previous sale occured on 4-24-2006 at a price of $1,725,000, so my math tells me that at a sale price of $1,587,500 and commissions of 5%, this home sold for a loss of $216,875 or a loss of 12.5% is one year. Wow! 12.5% in one year! Yichs!</p>

<p>Would anyone know or care to speculate on why zillow would list two sales prices of different amounts for the same day? Or why would a property would sell twice for different amounts on the same day? Are zillow's sales prices accurate?</p>
 
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