The Liberace House staircase has 17 stairs to landing and then 3 stairs down into family room. This is because the ceilings are so tall downstairs.
cb, according toZillow, that Byron St. house has been on the market 184 days!
Just looked up the history on Byron. SAME GUY AS NEWELL!!! purchased for $835,000 and borrowed 100% of the funds from hard money lender. Then borrowed another $300,000 from a hard money private lender on top of the purchase price. Purchased 9/30/2014 and he spent 15 days trying to resell it for $999,000 with no work done on it at all, just some yard cleanup - offering plans for small addition and roof top deck. It was grandma condition with tons of wallpaper and original everything.
For some reason it took 7 months to renovate the house - no roof top deck but with a 200sf permitted addition. Listing says all new everything which means he had to rewire house, new plumbing, roof, etc. Back on market 7/15 and has been lingering since then with listing price dropping from $1.479mil to about $1.3 since that date.
Wow, that guy is sitting on two expensive properties that are not selling! With a lot of borrowed money and heavy interest payments. At least he didn’t use that hideous tile that is in all the bathrooms at Newell. This is one of the rookie mistakes - he’s getting in over his head with debt.
He has had one other house that he purchased for $900k 10/31/2014 at
7026 Estrella de Mar, Carlsbad
that he had $1.05 million in private money debt against. He did the same thing… spent 2 weeks trying to sell it without any work done to it, then off market for 7 months for renovation. It came back out for sale in July 2015 and it just closed 10/16 for $1.25mil. He was holding those large loans for a whole year. Yikes!!
I guess his business plan is to just hold these dang things until they sell for some high price that he wants???
Don’t follow his plan, CB, we want you to thrive. He may not be a competitor for long at this rate.
It sure does sound like you have some very serious buyers. Hope they get their offers in soon–maybe even have a bidding war!
I predict you will have hard offers, above asking $, by tomorrow night.
Start looking around for your next project!
You’re on a roll !
It’s really funny – yesterday afternoon, I went away for a few hours and when I cam back there were 21 new comments. I logged off last night, and when I came back this AM there were 31 new comments.This is the wildest thread on CC right now – even busier than any “chance me” threads. (Thank goodness.)
Lol - “Grandma condition”.
Re Byron Street and Carlsbad: there are those white dining chairs again! 
And that awful eye-breaking backsplash…
One of the things I appreciate about this thread is what I learn about tastes in decorating in CA versus my traditional suburb of Philadelphia (think 80 miles away). I’m not just talking about finishes, but also functionality. I feel like the country bumpkin on this thread. Can’t wait for the next flip!
This is so much better than watching HGTV. LOL
^More like “interactive HGTV”. CB, you may have stumbled upon a new concept for an HGTV show. You are the flipper and the regulars on this thread chime in with real time suggestions as you renovate!
Its been fun. There has been some really good suggestions that I didn’t notice because I had my head down in the weeds. The best suggestion you guys made was to lose exterior door downstairs, replace with window so we could get more space in bath and bedroom, adding bathroom door to family room so people dont have to walk into bedroom to get to the bathroom and moving pocket door towards entry to gain a long wall in bedroom. Drove the draftsman crazy with constant changes!
It was also fun looking for lighting on Hoarder House project.
Neighbor and husband have already been over twice to make sure we are replacing fence, etc
Did I mention how luxurious it feels to come to work and there is actual furniture to sit on??? I love this phase of project!!
I had mentioned to my agent that I liked the staging at Bryon. She didn’t realize it was owned (flipped) by the agent who is selling it. She sent an email to listing agent and it was done by someone from LA who furnishes rentals for expensive homes. Cost to stage Bryon (according to agent) was $6,500!!! And theygot same white dining chairs as we did
Have you thought about getting a real estate broker’s license yourself? It seems like you are giving up a lot of your profits to broker’s fees.
Yes, i even took all the classes for license. In California, if you get agebt license you have to work under a broker. That is what stopped me.
Also, an agent selling has a whole bunch of extra liability. What some of my competitors do, who have big pockets, is hire an in house agent on salary. They get the buying agent commission back into their pocket when they purchase and save commission costs when selling
cb, maybe you know the answer to this question. On HGTV’s Flip or Flop, when Tarek is doing the final tally of how much they spent and what their profit is, he always has “closing costs.” He owns the property and he is the agent. Besides the commission he might have to pay to the buyer’s agent, what are his costs?
In my state, the seller has to pay excise tax, which is about 2% of the selling price where I live.
http://dor.wa.gov/content/findtaxesandrates/othertaxes/tax_realestate.aspx
The house is stunning! CB. I wish I could hire you and your carpenter to come and redo my house.
But, a question for all of you. If you really lived in this house, what would you do with all the glass doors to keep people from accidently walking through them? Sheer curtains would diminish the view. Decals seem rather downscale. There must be a nicer option.
The Byron house has no fridge? looks like just a frame in opening for where it will go
No fridge. Confidential agent remarks says Seller ‘may’ give credit for refrigerator. I think it is a cheap copout, but maybe buyers have such a personal preference for refrigerator style? I’ve never had a buyer that wanted a different refrigerator.
One of the things that is really personal is closet organizers. That’s where i ‘cheap out’ and leave them empty.
Here in my neck of the woods fridges are typically not considered “attached” to the house and are negotiable, but local RE customs vary.