Tuesday, August 08, 2006

San Rafael Flippers

These San Rafael flippers have yet to reach the break even point. Here's the shake-down:
  • 3 br 2 ba
  • 1325 sq ft
  • Built 1954
Price Reduced: 06/27/06 -- $859,888 to $849,000 (-2.3%)
Price Reduced: 07/19/06 -- $849,000 to $829,000 (-2.4%)

Total price reduction (so far): -3.6%

Last sold: December 8, 2005 for $602,500

Zillow.com's "Zestimate": $701,142
Assuming $58,030 for closing costs (7% of sales price, includes standard agent commission) they stand to make $168,470 for "owning" this house for eight months. Well see...

5 Comments:

Anonymous Marlow Harris said...

I'm just writing to point out that "Realtor" is a trademarked name and is not synonymous with "real estate agent". "Realtor" is a member of the National Association of Realtors and must be capitalized. Not all Realtor's are real estate agents and not all real estate agents are Realtors.

Aug 9, 2006, 11:07:00 AM  
Anonymous ross valley local said...

"Realtor" is a member of the National Association of Realtors and must be capitalized.

Sure, but I don't think errant capitalization can be proven as damaging to the NAR, especially for a non-commercial publication. Did I really just write that? LOL.

$600K or $830K...it's still junk.
Big skip.

Aug 9, 2006, 10:43:00 PM  
Blogger Marinite said...

I use "realtor" as commonly used by average people. Just like "bandaid" or "kleenex". But if it will make people happy I'll use an "R" and append with a "®". Sheesh.

Aug 10, 2006, 11:03:00 AM  
Blogger cajun100 said...

Hmmm. I wonder if a "Realtor" that does not follow the ethics guidelines of NAR and/or the licensing and practice guidelines of the State of CA is truly a "Realtor"? Innocent until proven guilty? I suggest we all use "real estate agent". Then anything goes, we can all understand that. Let "Realtors" do their own "service mark" (from dictionary) promotion.

Aug 10, 2006, 11:50:00 AM  
Anonymous Linda in TL said...

The flippers must be getting desperate now, offering a rent-to-lease option: http://sfbay.craigslist.org/nby/apa/199979984.html

Aug 28, 2006, 6:20:00 PM  

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