Flip This House # 7

The tenant has expensive sofas… they are Stressless recliner multi-seaters made in Norway. But what did they do to the back of that recliner chair?!

Taxes are $805 per year? Seriously?

Wow.

Grandfathered in?

Prop 13 for sure, I guess that house hasn’t changed hands in decades.

What do you mean? It looks ok to me.

At least on my phone, in photo 5, there is a light brown mark on the back of the chair that looks like someone put a hot pan on it and burned that leather! but maybe it is just the way light reflects on it. :slight_smile: We have that same chair… it is very comfy but $$$$$

I noticed that on Redfin, the description says “seller says original owner…”

Showings are limited to 2 open houses this weekend. In my discussions with the agent I get the feeling that the Seller wants to be nice to the tenants who have been paying rent forever. They have been given notice to vacate by March 1st but I could hear between the lines that renters really want to buy it. They are not going to want a lot of offers to come in.

Hate the sofas. I think they are ugly even if they are expensive.

The sofas are awesome and super comfy. Agree that they look better in a light beige color. Perfect mid century modern look and very well built. What I really hate are Ethan Allen, Pottery Barn, etc. depressing-looking sofas and anything that has claw feet. :wink:

I wonder why the seller decided to get a realtor involved if the tenants want the place… to test the market and set the price that way?

I think the statement “Seller says original owner custom build” just means that the house was originally custom built by the first owner. Which could mean surprises behind the walls and under the floors, cb! Not that you’ve ever seen that before…

I’m guessing someone with pink or purple or green hair sat on that chair too many times and they lightened the leather trying to get the stains out. Such hair colors are very common in Ocean Beach.

The seller may want to be nice to the tenants but the offers may preclude that. Remember my friend who got 30 offers on the house in Clairemont? She said her phone didn’t stop ringing. This is a very desirable price point for Ocean Beach. If the tenants have been renting for 15 years, they may have not have a realistic idea of house prices right now.

Well, I hope the tenants get it. They’ve lived there for 15 years, after all.

It looks like they stripped the living room for the photos. Probably had to stuff everything into the other rooms. :slight_smile:

It would be a great flip for CB, though.

I agree with Marilyn. Renters usually do not understand the high value of the house, whether in bad shape or not. They know everything wrong with the house. The other buyers don’t, or are planning a big gut job and don’t care. So, they usually try to negotiate “repairs” with the owner to lower the price.

But, they could have an advantage because they may be excluded from “the listing” and can buy the house without Seller paying commissions. That is a 5% to 6% advantage.

Those sofas would look terrific in a room four times the size. With much bigger windows.

And I agree…if the seller wanted to give those renters a break, he should have left the agent…and the commission that goes with them…OUT.

Maybe the owner tried to strike a deal with the renters…and it didn’t get anywhere.

Not a fan of those sofas at all.

Cute house. Not nearly in as bad shape as a lot of others CB has shown us.

Is it just me or the camera angle, but does the kitchen floor look like it’s sloping to the left?

I’d love to see what CB could do with that kitchen…and rest of house as well…

All photos have that sloping look, more or less. I suspect that is just the way the pictures were taken.

HOLY MOLY!!!

So, my carpenter and I arrive to the house today at 12 noon for the Open House. You cannot even find a parking space on the skinny street. People are parked blocks away and walking to the house. There were over 100 people queued up outside waiting for the Open House to start. We just stood there and both agreed that it makes no sense to go into that house right now.

We are standing there with a ladder, flash light, tape measure and some other tools because we were planning to crawl around the house so that I could make a ‘No Inspection’ offer. Pretty sure the agent doesn’t want us getting up into the attic and under the house in crawlspace when there is a line forming at the door :slight_smile:

My prediction… that house is going to get bid up to about $700k, if not higher. Too much demand right now and the house is the lowest price in the neighborhood. Plus, there is a bit of view potential so there will be a bidding war.

I may go back to the Open House later or tomorrow.

And really…the house could be lived in…as is. Just emptied out!

Guess the owner did not really want to sell to the tenant.

@coralbrook how is the CC renovation coming along? Any updates you can put on that thread!

I guess I won’t drop by just for fun then! Sounds like it will probably go too high to make flipping worth the investment. Maybe the tenant said “I’ll pay $600K” and the owner said “Let me show you what the home is worth.”