Vertiginous POS in Fairfax
I just love the desperation in this write-up:Run!Now $659,000!A $70,000 price reduction from original price,which you all thought a good price!What a buy!Charming home(not a condo! Writer or artist, a romantic get-away!A sun-filled zen retreat...The price has been reduced three times and it's been on the market for 60 days and still no greater fool to unload on. 2 br 1 ba, 1286 sq ft, built in 1981. Asking $659,000. Asking tomorrow...?
"which you all thought a good price". Huh? If this POS has not been able to sell, then who exactly are you referring to? Must be other realtors.
posted by Marinite at 6/02/2006 12:46:00 PM
4 Comments:
I would gladly pay $50,000+ for it!
That'w what makes these POSs. It's all about what you get for how much you have to pay for it. What the house looks like is irrelevant. It could be a falling down shack and not a POS if priced appropriately.
Actually, there are quite a few properties in Marin (mostly southern Marin; many in Mill Valley) that have elevators because so many houses are built on steep slopes with long flights of stairs to reach the main entrance.
An overpriced mansion is still nice to live in no matter how much it was bought for.
Perhaps initially, but larger homes incur far more upkeep, so if someone barely scrapes by to cover payments, you can bet they're deferring maintenance. Over time, consider what that does to their enjoyment of that home. Could this possibly happen to those who creatively financed large Marin homes, only to find themselves pinched when their mortgage resets? I suppose we could all take out HELOCs for maintenance, but again we’re adding to our monthly bill. Personally, I would shudder at the long-term implications of overpaying for all that liability. Does this scenario explain the condition of many Marin homes?
Hey - Just a note to say the price is reduced to $629K now.
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