We also had the contest to guess the eventual sales price of the REO that listed for $314,900 on Dixon in Oceanside. It sold for $351,000 – Congratulations Myriad, you have four tickets to a Padres game coming your way!
Guess Guesser
$344,800 Rob Dawg
$345,000 doughboy
$346,000 Atenbrown
$346,800 FreedomCM
$347,000 sd nerd
$349,000 Don Q $349,500 Myriad
$355,000 Mojo
$362,000 Stephen Waits
$415,000 newbie
On July 23rd we’re going to determine the winner of the latest contest to guess the number of 2Q09 detached sales, but here’s a preview.
As of this morning, the MLS is reporting 5,683 detached closings for 2Q09, at $223.19/sf. There is typically about 10% more added by late-reporting agents, which would be around 6,250. But with more-stringent MLS police enforcement recently, and a slightly earlier date, the final number may be lower.
Duplicate numbers happen every time, but in this contest there was only one double, 6,021, and the two guesses were logged in within four minutes of each other. They are my pick to win!
Here are the guesses:
Guess
Guesser
4,850
T
5,250
tj and the bear
5,323
Al in IC
5,325
Kingside
5,358
Kirk
5,406
Phil
5,451
Del Sur Renter
5,500
carmelgirl
5,512
3clicks from da beach
5,553
JAP
5,577
justme
5,578
whatif
5,580
mtb
5,675
Wes
5,678
Kwaping
5,681
The Wood
5,742
Neil Diamond
5,767
Stephen Waits
5,800
propertysearch
5,840
Happs
5,846
mybleachhouse
5,900
Genius
5,950
Erica
5,955
Strider
5,983
CA renter
5,991
osidebuyer
6,000
doughboy
6,001
AlexSD
6,021
bobfather99
6,021
Jaclyn
6,037
KO
6,090
Poorhouse
6,116
IRE
6,127
Nathan
6,200
JG
6,250
KlangOside
6,351
m
6,375
Sol
6,378
Scooter
6,400
Myriad
6,551
Casasolana
6,560
The Blur
6,565
Bryce
6,601
UCgal
6,625
REB
6,700
OCVulture
6,720
Local Boy
6,848
FuturesWatcher
6,856
pigpen
6,942
FirstTimeRenter
7,001
greenlander
7,017
Mike C
7,050
shoppingaround
7,179
mab
The “Day at the Track” winner will receive six tickets for box seats right above the finish line at Del Mar, with waitress service!
The second quarter is wrapping up quick, so a great chance to win!
Guess the number of detached sales in San Diego for 2Q09.
For the tie-breaker, take a stab at the average $$-per-sf too.
Here are the stats from the last few years:
Year
# of Sales
$$/sf
2000
6,620
$174.86
2001
6,358
$196.19
2002
7,358
$221.47
2003
7,371
$254.73
2004
7,960
$377.54
2005
7,724
$361.65
2006
5,767
$368.96
2007
4,899
$357.88
2008
5,020
$278.15
So far there have been 4,240 detached closings in 2Q09, at an average of $219.02/sf. There are also 3,405 detached listings that were marked pending between March 1st and May 31st.
We’ll take the final tally on July 23rd, to allow for the late-reporters. Because the Padres will likely be buried in the division by then, we’ll have a different prize for the closest guess.
One of horse-racing’s professional handicappers is a friend of the blog, and has generously donated a set of SIX tickets for his prime box seats overlooking the finish line at the DMTC.
The contest winner gets a day at the track at Del Mar!
(Date to be arranged, but we can probably accomodate your schedule)
Bank of America foreclosed on Barratt American’s 12 projects in Southern California, and has now put them out for bid.
Carlsbad’s Magnolia Estates is being offered as a package of:
Five finished lots that average a half-acre, plus
Six almost-complete houses that range from 4,985sf to 6,219sf.
The HOA fee is currently $199/month, plus the Mello-Roos is $233.25/month through 2035.
There is also an outstanding balance of $280,000 for Grading and Erosion Control Bond, but the outstanding surety bond may pick up part of that amount.
Bids are due by May 15th, and must close by June 22, 2009.
Eight of the 13 previously-sold houses closed for $2,000,000 or more, and the last sale was that 5,293sf REO a year ago that closed at $1,355,000.
We’ve been watching a couple of REOs on Huntington, and had a set of Padres tickets riding on the outcome – what would be the combined total of the two sales prices?
We have nine offers in on Dixon, and the seller/bank countered for their highest and best offer. Later today we should have a winner somewhere in the mid-$300,000s.
One of the offers is $367,500 VA, and they’re asking for a 3% credit for closing costs, and another 3% for discount points.
Typical closing costs for buyers run from 1.0% to 1.5%, where does the other 4.5% to 5.0% go?
We probably won’t have to worry about it, because the REO managers are going to take a lower offer with a higher net, and not have to sweat an appraisal issue.
If your loan broker is telling you that you need an extra 4.5% to 5.0% packed into your offer, and to just raise the price to compensate – go find another lender!
Here are the guesses for our contest:
Guess
Guesser
$1
shadash
$199,000
arizonadude
$305,000
Genius
$310,000
Kook1315
$311,000
Wes
$312,000
NateTG
$314,000
greenlander
$314,900
No_Such_Reality
$316,000
REB
$318,500
Erin
$319,000
The Wood
$320,000
jose
$321,000
GameAgent
$321,500
mybleachhouse
$322,500
CA renter
$323,000
Dwalla
$323,500
DKO
$324,000
gywright
$324,600
Custerdome
$325,000
Susan
$325,000
nolongerjoerenter
$325,000.43
Renter Pete in Carlsbad
$327,000
bobfather99
$327,500
IRE
$327,900
no bubble here
$328,500
mtb
$329,500
sosad
$330,000
Steve
$330,000
Geotpf
$331,000
m
$331,500
4s Renter
$332,000
Dave
$333,500
CB Mark
$334,000
Erica Douglass
$335,000
Kwaping
$336,000
Poorhouse
$337,500
Blissful Ignoramus
$338,000
OCVulture
$338,500
Angela
$338,500
mab
$339,462.20
Mozart
$340,000
Kompeitou
$340,000
tjandthebear
$340,250
rbresident
$340,500
Al in IC
$344,800
Rob Dawg
$345,000
doughboy
$346,000
Atenbrown
$346,800
FreedomCM
$347,000
sd nerd
$349,000
Don Q
$349,500
Myriad
$355,000
Mojo
$362,000
Stephen Waits
$415,000
newbie
The list price is $314,900. Here is the link to the original post on the contest, with video: Four Padres Tickets!
The Padres are red hot, how about another contest?
Check out this video tour, and guess how much my new REO listing sells for, and the winner will receive four tickets!
For those of you who saw the photo in the paper, and the banter on the radio about the 83-year old lady who attends every game and knits while she watches, she sits a couple of seats down from where you’ll be sitting, if you win. Don’t mess with her!
