This morning I went to look at the property on South
ernwood
Way.
(for those that are new to our flipping adventures… trying to conceal addresses from online searches by strangers!)
On the covers this house looks like it has been maintained and is in good condition, although dated. Behind the covers there is serious roof leaking issues. Since it has a tile roof that requires a full re-roof to take off all the tile and lay down new double felt and flashing and put the tile back on. Then I can see a LOT of wood rot and termite damage around the outside of the house. And, the ‘beautiful’ wood windows they are advertising are either painted or warped and do not open, either at all, or barely a bit. So, these are big ticket items. Hoping other buyers see these (or will see them in their home inspection) and run away 
The spread potential on this house is not significant because it is much smaller than others in the neighborhood. I found one small one that sold in 2014 and I calculated current value based on the local property appreciation rates since then.
I am crafting an offer where I will have no buying agent representation (savings of 2.5% to Seller) and I’m going to hand drop it at the listing agent’s office. I’ll keep you posted
Steep hillside house on Akron
OH LORDY! staying away from this one. Still have no idea why they gutted the house but there is a BIG critical issue. There is one crazy parking spot on top of a small building carved into the steep slope. The spot needs to hold the City trash cans. There was not even enough room for my truck in the spot. End of the street is red curb, so no parking there. You might be able to squeeze 1 car on the street in front but it would block anything in the off street parking spot. The whole thing is kind of illegal with current codes which require 2 off street parking spots.
Thing is just hanging on a cliff. No flat yard anywhere, scary retaining walls. No thanks
BTW… it had incredible views over San Diego Harbor/downtown
The mid-century house that was being sold for the land with plans just went pending. This is the one where one ofmy competitors bought it for $1,050,000 and is now turning around at $1,250,000. Plans are not totally approved at City yet.
4
4
4
4
DE
L MAR
Wondering if the hillside house was an arson case…couldn’t sell…so…Fire or something. Then gutted.
I am wondering who got the insurance $$ if it was a fire/water damage.
Good for you to stay off that cliff. We almost bought a steep sloped lot to build on… It had incredible views, but there was a similarly iffy parking/trash collection situation. I am glad I talked Mr. B out of it.
Glad to start another thread. Keep on trucking.
The S-wood house… Zillow sez the lot is .25, but Trulia has it at 7986 sft, much smaller than .25.
What’s the number of the S. E…wood house?
I dropped off my offer at the listing agent’s office. She was not in so I left it at the front desk and they said they would call her. I’m going to wait patiently and see if she ever contacts me about the offer. It’s going to baffle her and she will probably need to talk to the Office Manager and/or Office Broker on what to do with the Buyer No Representation issue. Most agents have never come across this situation and they automatically think it is not allowed. But, it technically is allowed. And then they get all huffy because they think the buyer is circumventing the traditional system. Yes, a little bit of circumvention. But at this point I don’t want to bring any more ‘non communicative’, ‘non aggressive’, ‘unethical’, you name it … agents into my life.
I looked back at Google street views of the Akron house over several years and there’s no suggestion at all of fire from the front view. Also the dark steaks down the front have always been there. What besides flood or fire could have necessitated the gutting? Bee invasion? Morlocks? Snake colonies? Wallmasters?
So odd that the one bathtub is sitting out by the grill; it seems to have been in a smaller bathroom in the rental photos. Why that tub and only that tub? Is that where the homeowners hid to save themselves when the invaded from inside the hill?
It does sound like a nightmare of a house to take on!
The bathtub isn’t there any more although there is some newer 2 x 4s stacked up in the parking spot. Check out the parking situation on Google!!!
The neighbors have painted their curb (I’m not sure it is legally painted) Blue to indicate no parking in front of their house. Most of the rest of the street has cars parked in front of their houses. The crew would have to park a block away just to come to work. I’d have a mutiny on my hands, especially my electrician who insists he has to park in the driveway because he has expensive stuff in the back of his truck.
Could you imagine trying to get a dumpster in there? NOT going to happen in any way. Could you imagine telling my crew that they have to haul every single thing, including at least 150 sheets of drywall, up and down those stairs??? The guy probably gutted and then got some outrageous bid from a contractor to try and do work at that location.
CB, I think you are correct in that assessment. One need a helicopter to drop off the construction materials! 
I think the brown streaks on the front are from water running from the roof down that stucco. The dark walls inside… Maybe soot deposited when an object like a couch caught on fire? Not enough to burn the house but enough to cause a bunch of nasty damage.
Oh… Hillside structures like these here require mandatory auto sprinkler installation. That is not an insignificant cost.
I sent a followup email on the Fleetridge house to the listing agent, asking for confirmation that she received my written offer. Nada, Zip, No Response. What is it with these people? Are they so insulted that my offer was $30k or 50k below asking price?
More interesting real estate agent nonsense.
The listing agent who has the small property on Charles in the Wooded area took it off the market and brought it back out $100k less than last asking price this morning. He listed in April at $895k, then took it off after one week and re-listed at $995k. It has been sitting with no offers. The whole strategy doesn’t make any sense. Then re-listed this morning for $895k.
I have inspected this house and talked to the listing agent about 3 times at length about making an offer, with him representing me. He just brushed me off because he insisted they were going to get the $995k. My original offer was about $20k down from the first listed price. Now there are confidential remarks “Bring All Offers”
Do you think the guy would have called me first thing this morning to write up an offer, with him representing me? No… the guy has not contacted me. What an idiot!
When the $$ just keep falling out of the sky into their lap without them needing to lift a finger, people forget that they work in the service industry… Makes me mad.
cb, does your offer still stand, or did it expire? If it still stands, then he should be calling you to get things going!
You made an offer for $875,000 and this guy hasn’t contacted you?
I don’t understand that thinking…you would think he would be all over that.
My guess…he is hoping for,an above asking cost bidding war.
Is that house worth it?
I would think he’d advise the seller to accept your offer today and be done with it!