Yes, it really is that small POS house in Mill Valley, on Shoreline Hwy, across the street from the 7-11 (699 sq ft, 2 br 1 ba, built 1923). The reason why I am bothering to mention this one again is two-fold:
First, the listing agent's write-up now starts off with "Motivated sellers are considering all offers!
" (well, maybe that line has been there for a while but I've just noticed it) which is ironic considering it is quite obvious that this house is a flip-gone-bad (the sellers had first tried to sell it about five months after purchase) and the sellers have already reduced the price to their break-even point. Given how long this house has languished on the market at the current break-even asking price, the sellers have implicitly indicated that they will not sell for less than what they owe. So what does it really mean when the listing agent says that the sellers are "motivated" and "considering all offers"? What it means is that the sellers have not been receiving any offers above their asking price. If they have received any offers at all those offers must have been below their asking price. Such offers were rejected as the sellers would have to take a loss. So "motivated" simply means that the sellers still believe that they can screw over an ignorant buyer.
Second, the DOM statistic for this listing now reads 94 days. I first started blogging
this house back in December of 2005 (because at that time it was such an obvious flip and that was a time on this blog when certain readers were desperately trying to make the case that there was no flipping going on in Marin because we're just too damn special, etc.)! So the real DOM statistic for this crappy little yellow house should read closer to 365
freaking days on the market!
* * *
For the record, my first post on this tiny house was here
. I then dug deeper into the financials of the sellers here
and was able to surmise that their then (and now) current asking price is in fact their break-even point whereas the fair value for this house is about $100k less than their break-even point. I then included it in this post here