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(Zillow)   Apparently, nobody wants to pay 3$ million for a cruddy house in Lakeside California. Price cut $2 million   (zillow.com) divider line
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1572 clicks; posted to Business » on 02 Dec 2021 at 2:22 PM (23 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



24 Comments     (+0 »)
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2021-12-02 12:09:13 PM  
Is there a decent reason for the continued greening of these zillow links? Are they really all that interesting?
 
2021-12-02 12:18:28 PM  
Apparently, nobody wants to pay 3$ million for a cruddy house in Lakeside California. Price cut $2 million


For more than 20 acres, just west of Poway? If you've got a million and more to build and remodel, that's a hell of a deal.
 
2021-12-02 2:26:51 PM  

Badmoodman: Apparently, nobody wants to pay 3$ million for a cruddy house in Lakeside California. Price cut $2 million


For more than 20 acres, just west of Poway? If you've got a million and more to build and remodel, that's a hell of a deal.


I wouldn't say it is cruddy.  It isn't a bad house, just expensive.  That said, which lake is it next to?
 
2021-12-02 2:31:17 PM  

sleze: Badmoodman: Apparently, nobody wants to pay 3$ million for a cruddy house in Lakeside California. Price cut $2 million


For more than 20 acres, just west of Poway? If you've got a million and more to build and remodel, that's a hell of a deal.

I wouldn't say it is cruddy.  It isn't a bad house, just expensive.  That said, which lake is it next to?


A wildfire I'm guessing.
 
2021-12-02 2:42:37 PM  
Tax Assessment
2021--$434,821

Still asking over double the assessed value.
 
2021-12-02 2:45:38 PM  
Paying for land, I get.  But that house?  Less than 2000 sqft, only 2 car garage, a largely rectangular floor plan, and what looks like a painted concrete yard?  It's basically a glorified double wide.  And right in the middle of what looks like wildfire country.  I can't imagine that being worth even 1m, except maybe to a developer intending to drop a subdivision around the house.
 
2021-12-02 2:51:16 PM  

Officer Collins: Tax Assessment
2021--$434,821

Still asking over double the assessed value.


In some places, tax assessments do not attempt to match market value. I expect CA prop 13 might be applied in part by especially extreme deviation from current market value.
 
2021-12-02 2:51:23 PM  

Murflette: Is there a decent reason for the continued greening of these zillow links? Are they really all that interesting?


Subby is a fan of Zillow gone wild Twitter/gram account...but this being fark it's a couple days behind
 
2021-12-02 3:05:08 PM  
Lakeside?  That landscaping doesn't make me think "water is abundant."
 
2021-12-02 3:18:06 PM  
Is that a dirt driveway?
 
2021-12-02 3:20:23 PM  
The wide angle lens isn't helping any. There doesn't seem to be any sort of balance to the building. The whole thing gives me a weird vertigo just looking at the photos.
 
2021-12-02 3:51:08 PM  

Murflette: Is there a decent reason for the continued greening of these zillow links? Are they really all that interesting?


Yes, don't yuck my yum.
 
2021-12-02 3:51:56 PM  
I'm look for a new house in ATL and have noticed a fair number of homes that have had $65k+ price cuts after being listed for two or three weeks. I guess the only downside of throwing an outrageous number out there and seeing if anyone will bite is that the house sits on the market longer.
 
2021-12-02 4:01:41 PM  
Normally, I couldn't afford a house in Southern California even if I won the lottery. At last, there is one I could afford... if I won the lottery.
 
2021-12-02 4:17:52 PM  
20+ acres in the middle of nowhere? Pass.
 
2021-12-02 5:17:39 PM  
I'm holding out for the Spahn Ranch listing.
 
2021-12-02 5:39:23 PM  

uncoveror: Normally, I couldn't afford a house in Southern California even if I won the lottery. At last, there is one I could afford... if I won the lottery.


I feel that southern CA is highly overrated. I like it up closer to the Oregon border. There is a bit more open space, slightly fewer people, and more reasonable property prices.
 
2021-12-02 6:26:00 PM  
Probably because looks like someone stole the lawn.
 
2021-12-02 6:49:49 PM  

Officer Collins: Tax Assessment
2021--$434,821

Still asking over double the assessed value.


In California, the assessed value has nothing to do with what the house is worth, due to prop 13.  A house gets reassessed when sold, but then the legal value can not rise more than 2% a year, even if the value goes up 20%.  Then, if the value goes up 20% again, it still can only go up 2%.  After a decade of ownership (or even less), the house will frequently be on the books for less than half what it's worth.

I bought my California house in 2009 for $150k.  I don't remember the legal assessed value of it off the top of my head, but it's a hell of a lot less than the $500k or so it's worth today (probably under $200k).
 
2021-12-02 7:06:09 PM  

thornhill: I'm look for a new house in ATL and have noticed a fair number of homes that have had $65k+ price cuts after being listed for two or three weeks. I guess the only downside of throwing an outrageous number out there and seeing if anyone will bite is that the house sits on the market longer.


I don't know much about Atlanta real estate, but over in the DMV people were getting multiple offers over asking before it even went on the market from agents in the know that had a list of clients.  They'd put the signs up purely for advertising with the UNDER CONTRACT signs already installed.

Now there are open houses again to gather offers, so maybe it's cooling down.  Maybe just seasonal slowdown.

*twirls around*
 
2021-12-02 8:04:23 PM  

Hassan Ben Sobr: I'm holding out for the Spahn Ranch listing.


So is Squeaky Fromme.
 
2021-12-02 10:25:18 PM  
Country Dock Montana has something to say about this.

The Beat Farmers - Lakeside Trailer Park
Youtube jhu9N3iC11c
 
2021-12-02 10:25:55 PM  

mark_bert: Country Dick Montana has something to say about this.

[YouTube video: The Beat Farmers - Lakeside Trailer Park]


FTFM
 
2021-12-03 7:24:35 PM  
Lakeside is an up-and-coming area within a 20-minute drive of San Diego proper. And that 20 acres is a lot of land in this area for under a million. I think I have seen that property and it's pretty isolated.

That said, Lakeside is gross. It's right next to "Clan-Tee" (Santee) and both are full of methheads and old people, meaning high crime. Services are crap there. Most properties I have been to in the area are on septic still. And all for less than 2,000 square feet?!?

/Hard pass
 
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