LCV REO

by | Oct 11, 2011 | North County Coastal, REOs for sale, Thinking of Buying? | 5 comments

A listing agent of a similar house to this one called yesterday for feedback, a very annoying habit of realtors who bug the agents who have shown their listing.

It’s annoying because if they really wanted “feedback”, then they would be open to what was said.  Instead, they always refute the feedback, and usually just flat out tell me that I am wrong.

I told her that I thought regular 3,000sf houses in La Costa Valley (not Davidson) should be slipping into the $700,000s, because most are getting dated and suffer from small yards, power lines, or road noise. 

She said that it might be possible if I wanted to sell short sales, and wait for months to see if they get approved; but regular sales aren’t going to sell for that.  I thanked her for the advice – we’ll see.

La Jolla REO with View

by | Sep 10, 2011 | Bubbleinfo TV, REOs for sale | 20 comments

Not everyone is in the $2,000,000+ club, but it’s still good to keep an eye out for potential squishdown.  While this price is seems attractive for La Jolla, the banks haven’t had to give them away – the only other La Jolla REO featured here that hasn’t sold is this one:

Razor Auction

by | Aug 23, 2011 | Psycho-babble, REOs for sale | 11 comments

From Channel 10:

An architectural marvel that has become one of the most photographed homes in the country is now on the auction block.

razorThe 11,000 square foot home dubbed “The Razor” is hollowed out from the cliffs over Black’s Beach. It boasts floor-to-ceiling glass, polished concrete surfaces and picturesque views.

The home was designed by top architect Wallace Cunningham. It filters light in a way that changes the home’s look depending on the hour.

“To quote Wallace Cunningham, ‘It’s his masterpiece,'” said Hurwitz.

The four-bedroom, six-bath masterpiece also boasts a glass elevator, theater and a two-story guesthouse. The house has been featured in commercials for Calvin Klein and Visa’s Black Card. It has also been showcased in “Architectural Digest.” A commercial for Aston Martin will film later this week.

The home’s owner, software engineer Don Cooksey, spent $34 million in the last decade to build it before he declared bankruptcy and turned it over to a trustee for auction. The bidding will start at $16 million.

The home that has defined luxury now represents another high-priced trend. According to RealtyTrac, million dollar mortgages now make up about 2.3 percent of all foreclosures. That is double the number from 2007, which makes it the fastest growing segment of the foreclosure market.

(psycho-babble alert below – the Razor has been for sale since May, 2008, and been in bankruptcy court for 1+ years)

“What this means is people that had means to sustain an economic downturn are finally being hit,” said Nathan Moeder of The London Group.

However, one owner’s loss is a home buyer’s gain. “I definitely think it’s a steal,” said Hurwitz.

The auction takes place Sept. 28th, and go up in increments of $100,000.

Part of the home, including the kitchen and bathrooms, remain unfinished.

 If you would like more information on the auction, plus photos, visit HurwitzJamesCo.com

The commercials below that feature the house nicely:

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