San Elijo Real Estate

A posting from Blog dated 11/7/06

You Had Me At The 4th Listing, 21st Price Reduction

Thanks to a reader alert, we now have a final sales price on 1xx5 Archer Rd. in San Elijo Hills, north San Diego County. Please click on above link if this is your first time reading about the trial and tribulation of our brave Foreclosure Shark.

Remember, our Foreclosure Shark was a seasoned pro. So I’m assuming he had a good discount from his own realtor. I’m also assuming he brought cash to the auction back in April. The final breakdown is as followed:

Purchased from auction 4/7/06: $568,000
1st listing 4/25/06: $688,000
21 weekly price reductions
4th listing 10/2/06: $593,000
Sold 11/3/06: $601,000

Assuming 4% commission: -$24,040
Assuming seller paid closing: -$8,000
6 month HOA: -$420 (at $70/month)
6 month gardener bill: -$600 (at $100/month)
6 month utilities: -$600 (at $100/month)
6 month property tax: -$3,550 (at 1.25%)
6 month Mello Roos: -$1,000 (at .50% of original price)
Net loss of -$5,210

The psychological effect on the foreclosure shark community? Priceless

A Posting from Blog

Leave a Reply