![]() 901 O St Rio Linda, CA 95673 |
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![]() 5330 Agate Way Carmichael, CA 95608 |
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![]() 5412 Ravine Creek Way Elk Grove, CA 95758 |
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![]() 12045 Mandolin Way Rancho Cordova, CA 95742 |
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![]() 104 Herrill Ct Folsom, CA 95630 |
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![]() 5110 Pleasantglen Way Elk Grove, CA 95758 |
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![]() 8756 Rubystone Ct Elk Grove, CA 95624 |
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![]() 2821 Babson Dr Elk Grove, CA 95758 |
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![]() 4211 Brookfield Dr Sacramento, CA 95823 |
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![]() 9308 Engleside Ct Elk Grove, CA 95758 |
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![]() 2010 Bonavista Way Sacramento, CA 95832 |
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![]() 6820 Castleberry Cir Citrus Heights, CA 95621 |
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![]() 6829 Fruitridge Rd Sacramento, CA 95820 |
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![]() 7217 Pine Grove Way Folsom, CA 95630 |
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![]() 3320 9th Ave Sacramento, CA 95817 |
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![]() 2713 16th St Sacramento, CA 95818 |
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![]() 6801 Grant Ave Carmichael, CA 95608 |
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![]() 6641 Rio Linda Blvd Rio Linda, CA 95673 |
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![]() 3311 Franklin Blvd Sacramento, CA 95818 |
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![]() 8324 Crestshire Cir Orangevale, CA 95662 |
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![]() 6549 RIO OSO Dr Rancho Murieta, CA 95683 |
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![]() 9682 Alta Mesa Rd Wilton, CA 95693 |
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![]() 5 Northwich Ct Sacramento, CA 95832 |
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![]() 2085 Edgewater Rd Sacramento, CA 95815 |
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![]() 7718 Beth St Sacramento, CA 95832 |
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![]() 1510 Florin Rd Sacramento, CA 95822 |
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![]() 5220 Mckellar Ave Sacramento, CA 95824 |
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![]() 5026 Creek View Way Sacramento, CA 95841 |
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![]() 5855 13th St Sacramento, CA 95822 |
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![]() 2731 Gunn Rd Carmichael, CA 95608 |
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![]() 79 Aiken Way Sacramento, CA 95819 |
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![]() 4229 Alan Dr North Highlands, CA 95660 |
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![]() 3337 Mas Amilos Way Sacramento, CA 95835 |
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![]() 7613 Muschetto Ct Citrus Heights, CA 95621 |
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![]() 4815 Crest Dr Sacramento, CA 95835 |
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![]() 5975 Laguna Ranch Cir Sacramento, CA 95823 |
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![]() 8817 Amberjack Way Sacramento, CA 95828 |
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![]() 942 Blackwell Way Galt, CA 95632 |
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![]() 2034 Granite Bar Way Gold River, CA 95670 |
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![]() 1030 Hildebrand Cir Folsom, CA 95630 |
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![]() 1351 Woodside Glen Way Sacramento, CA 95833 |
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![]() 2615 Burnaby Way Sacramento, CA 95833 |
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![]() 91 Hermes Cir Sacramento, CA 95823 |
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![]() 7616 Wooddale Way Citrus Heights, CA 95610 |
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![]() 2925 Babson Dr Elk Grove, CA 95758 |
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![]() 1809 Verano St Sacramento, CA 95838 |
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![]() 5123 Seaglen Way Sacramento, CA 95835 |
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![]() 1898 Acari Ave Sacramento, CA 95835 |
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![]() 8738 Lemas Rd Sacramento, CA 95828 |
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![]() 7621 Scribner Ave Citrus Heights, CA 95610 |
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![]() 7197 Snowy Birch Way Sacramento, CA 95823 |
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![]() 9013 Meadowfoam Ct Elk Grove, CA 95758 |
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![]() 5705 Zimmerman Ct Fair Oaks, CA 95628 |
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![]() 10158 CLAIRINA Way Elk Grove, CA 95757 |
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![]() 8409 Bloomington Dr Sacramento, CA 95828 |
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![]() 6016 14th St Sacramento, CA 95822 |
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![]() 9217 Cotton Creek Ct Sacramento, CA 95829 |
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![]() 8375 Grand Cru Dr Sacramento, CA 95829 |
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![]() 6155 Via Casitas Ave Sacramento, CA 95608 |
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![]() 8074 Bucks Harbor Way Sacramento, CA 95828 |
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![]() 290 Audubon Cir Sacramento, CA 95831 |
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![]() 3584 Rainsong Cir Rancho Cordova, CA 95670 |
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![]() 2424 Mabry Dr Sacramento, CA 95835 |
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![]() 7679 Bluebrook Way Sacramento, CA 95823 |
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![]() 4749 Oakhollow Dr Sacramento, CA 95842 |
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![]() 1970 John Still Dr Sacramento, CA 95832 |
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![]() 4898 Kokomo Dr Sacramento, CA 95835 |
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![]() 5500 Hamilton St Sacramento, CA 95842 |
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![]() 6913 Richman Way Sacramento, CA 95828 |
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12 comments :
The property on Agate in Carmichael was purchased as a large lot; the apparent loss actually represents a profitable resale after splitting off additional lots. The house is overpriced and backs to a busy street, but it's not a flipper in trouble - it's a developer in trouble.
No doubt you are correct. It's hard to filter out the 1% or so that are like this.
keep up the good work.
Wow. RE can really go down.
Baaaaaawahahahaha
Total Loss: $186,000 Percent Loss: 29.8%
Asking Price: $439,000
Bedrooms:4 Baths: 2 Sq. feet:2160
Previous Sales:
Sold on 2005-03-31 for $625,000
START & END WITH THE FIRST ONE: IT'S A FRAUD. THE GUY MADE A FORTUNE. HE BOUGHT THREE LOTS FOR $625,000 AND SPILT THEM, BUILT ON THEM, AND THIS ONE HOUSE REPRESENTS ONE OF THREE AT $439,000. YOU DO THE MATH, DOPE.
I think what a lot of people don't understand is that there are (were) two types of flippers. The retail and wholesale.
The houses you post are from retail flippers who bought retail and then tried to sell retail. They are the doomed ones. The wholesale flippers are the ones that bought junkers well below market value and then fixed them up to sell at retail. If they did their math right they'd have at least 20% equity in their houses and can ride out a drop in prices.
Tom
www.dbreakfast.com
It's a new paradigm, and everybody who doesn't buy, now, will be priced out forever. Anybody who does buy will be rewarded with a lifetime of riches, as their property will continue its 30% yearly price increase.
Renters, and anybody born in a future generation, will not be able to afford a $10,000,000 starter home in 15 years. They will live in tent cities, and Hondas.
This asset bubble is different than all of the others - it will never slow down, or pop. The gains are permanent.
Anon Said "YOU DO THE MATH, DOPE...."
O.K., let's do the math. A 2,160 sf 2-STORY house in RIO LINDA for $439,000???
That is overpriced NOW for areas like Stanford Ranch and Lincoln Crossing. You can buy 3,200 sf homes for that price now and not have to deal with the crime, trash, and the rest of the problems in Rio Linda.
Don't be counting your chickens before their hatched and don't be calling people "DOPE'S"....unless, of course YOU live in Rio Linda.
How far can this market drop?
Thanks, I'll skip part II. I've seen enough.
Anon above, I'd say they'll drop back to historic debt/income ratios. There's a good way down yet.
"THE GUY MADE A FORTUNE. HE BOUGHT THREE LOTS FOR $625,000 AND SPILT THEM, BUILT ON THEM..."
The additional lots are currently under construction (asking price $699k). They're in a dumpy neighborhood of small homes. Zillow pegs neighborhood values in the $300-400k range. Two of the three lots back to one of the major thoroughfares. Developer hasn't made a dime yet, and will only make his money back if he finds idiot buyers who think it's SMART to own the most expensive house in a starter-home neighborhood.
"property will continue its 30% yearly price increase." What a crock. BS Agent scare tactics like this, plus unconscionable lending practices, created the bubble that will hurt a lot of people when it pops.
Anon 3:22 PM said,
"THE GUY MADE A FORTUNE. HE BOUGHT THREE LOTS FOR $625,000 AND SPILT THEM...."
LOL. The guy paid over $200,000 a paper lot in Rio Linda. Then added processing costs to split them? The "guy" has made nothing, as he has sold nothing, and is likely losing his @$$.
It is blind fools like you who led the real dope's into this mess. Think before you flap your flapper.
Where do you get all this information from? Is there a particular site I can find out about local real estate in FL?
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