The house is rented? If all that crap is the owner’s, I don’t know why anyone would rent it from the owner. And if all that crap is the renter’s, I don’t know why any owner would put up with that.
Maybe a squatter?
My guess is that the owner is very elderly. My research shows that it has been owned by same person for a very long time. They just 2 yrs ago got a ‘rescue’ loan from California Foreclosure Prevention for a small amount. I’ve actually never seen one of these loans in this area before. I need to research the loan a bit to see if it is a private loan or government loan.
I’m guessing that elderly person lives in front and either a relative or ‘renter’ lives in the converted garage and all the crap in back yard has crept in from person living in converted garage and she’s too old to try to enforce any sanity. I see a lot of situations (especially in foreclosures) where grandkids or relatives have moved in on elderly relatives and completely wrecked a place, dealing drugs, partying, derelict cars and squatter friends everywhere. Those ‘renters’ are very hard to get rid of, especially in a foreclosure situation because they are considered ‘tenants’ and they have ‘rights’ against eviction. Easier to get rid of when it is a regular real estate transaction, unless they have a legal signed lease that goes out forever.
Another crazy thing is that it is listed by an agent from the ‘Real Estate Office of Rancho Santa Fe’. What the hey? How did someone from Rancho Santa Fe get the listing? It might be a state appointed Estate Administrator that is selling the asset (similar to Hoarder House transaction)
Original owner passed in 2009 and I believe it transferred to an heir (different last name though), but heir is using property address as mailing address, so not sure if heir is living in house
I believe that we had NO showings yesterday (Saturday), but I’m not sure. Today there is a large quarter page ad in the San Diego newspaper and an Open House. I need to get over there and clean the floors and dust everything again!
Coronado Rough Estimate
Even though I have not looked at the property yet, I ran some rough numbers to see if it would even work - I have a pre-built spreadsheet that I use for a Quick Estimate. Here’s how I look at a potential purchase
I believe that it could sell, fixed up, without any additional square footage = $899,000
Purchase and Selling Costs = $4,500
Holding Costs estimated at 5 months = $20,000
Remodel Costs = $100,000 (very high demo/trash costs, high estimate for plumbing, electrical and roof, flooring)
So, profit might be, after commission about $25,000
Not worth the risk with this type of property
You definitely need more than $25,000 for your efforts.
It’s amazing how little profit there is, even with a $200k spread above the purchase price. Most people just hear “sold for $200k over what she paid” and think there’s some huge glamorous profit in there. Not true.
Now, someone with a TV show might be able to come in there and spend only $45k - $60k to renovate the house, but I cannot seem to be able to duplicate that. Also, they may not have to pay interest on the funds required to purchase/renovate which would lower the $20k holding cost a bit.
Just saw your quarter page ad in the paper - very nice! That should bring in some people today. “Stunning bathrooms” made me LOL.
Marilyn,
Thanks so much for the update… I don’t take the SD paper so I was hoping I would remember to stop and pick one up today.
I honestly don’t think the bathrooms are ‘stunning’, as compared to the one at Hoarder House with the gorgeous large teal custom vanity
I was teasing about the bathrooms because of the stunning redo of the downstairs bath.
I’ll save the real estate section for you.
Here’s some feedback from first groups through open house today.
Three families off Zillow moving from other states. One said above their budget.
One empty nester couple, downsizing and it’s too much house for them.
I have totally missed my mark with target market. With 4 bdrms., should have found a way to make it a family home. But I don’t think there is any way, within reasonable cost, to make a yard or add garage. Those are the 2 concerns with family buyers.
I just don’t understand why it is not appealing to empty nesters. I guess it’s the long stairs, trying to go down there to keep it clean. I would view it as potential caretaker space.
Most that are coming are driving neighborhood and seeing the Open House signs or finding house from a Zillow search. I’m not sure expensive advertising in newspaper is worth the money.
Maybe you could rethink the front bedroom as an office? Start describing as 3 bedroom plus office including guest quarters? We originally wanted four bedrooms so we could use one as an office and were looking at either 4 bedrooms or 3 bedrooms plus. We certainly didn’t need 4 rooms with beds for people to sleep in. If so many people are finding you via Zillow, maybe your agent could reword that description to suggest one room is an office.
Good idea, but we don’t have any bedroom furniture staged in the 2 small bedrooms so it can’t be too hard to imagine one as a nice office 
What about “caretaker potential”?
I think she said that 2 posts up 
Always that positive spin!!!
What about an inlaw suite??
CB said it…but it is not in her real estate listings.
Guest suite might be another one.
Folks moving to the area should know that they will have a private olace for out of town guests, kids coming to visit, etc.
Or something like…3 bedroom home with additional gorgeous finished lower level which offers many possibilities for its use.
People may be able to imagine a home office but actually hearing that phrase can spur the imagination. Or staging a small desk in one room.
Hearing the phrase “caregiver’s quarters” could boost imagination in the wrong direction - a bit depressing to contemplate unless the potential buyers are already in that situation. In which case the questions of front door ramps and stair lifts also come into play…
I do like the phrase “guest suite”. Or “spacious private guest suite with bonus room and separate deck”.