Comments on: Baja Noe bites back (141 27th St.) http://thefrontsteps.com/2008/07/01/baja-noe-bites-back-141-27th-st/ Real Estate, Insight, Statistics, Gossip, & News...With a Twist and Some Flavor Mon, 21 May 2012 00:11:30 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: jim beam http://thefrontsteps.com/2008/07/01/baja-noe-bites-back-141-27th-st/comment-page-1/#comment-5041 jim beam Sat, 19 Jul 2008 09:15:04 +0000 http://thefrontsteps.wordpress.com/?p=1652#comment-5041 I saw this one inside and out, and know one of the owners. plumbing needs replacement but nothing major. roof has to be replaced, and there is toxic mold. this place has support walls which makes it's large space poorly laid out. at 635k it made sense, and even up to 700k, but by the time this is over with the pending lawsuits and partition sale.... the bidder at 998k will be BROKE I saw this one inside and out, and know one of the owners.

plumbing needs replacement but nothing major. roof has to be replaced, and there is toxic mold. this place has support walls which makes it’s large space poorly laid out. at 635k it made sense, and even up to 700k, but by the time this is over with the pending lawsuits and partition sale…. the bidder at 998k will be BROKE

]]> By: fluj http://thefrontsteps.com/2008/07/01/baja-noe-bites-back-141-27th-st/comment-page-1/#comment-5040 fluj Wed, 09 Jul 2008 15:55:05 +0000 http://thefrontsteps.wordpress.com/?p=1652#comment-5040 I highly doubt it was a contractor bidding 950K. The place needs 600K, minimum. So, to do the math, that's 950 + 600 + holding costs (80K) + realtor fees (95K) = $1.78M, conservatively the break even number. If you figure 20% down (190K) plus 600K, thats 790. For a 120K return, and that's IF IT SELLS FOR $1.9M? And remember, this is not a premier block. (This is starting to matter less in Noe, but it does still matter.) I don't think it even makes any sense for an end user at 950K, let alone the 998K overbid price. Surely someone can find a finished Noe house for $1.8M elsewhere? Or heck, an AWESOME Glen Park, Bernal, or Valencia Corridor house? This one was pretty good at 800 and under, and great at 700 and under. I highly doubt it was a contractor bidding 950K. The place needs 600K, minimum. So, to do the math, that’s 950 + 600 + holding costs (80K) + realtor fees (95K) = $1.78M, conservatively the break even number.

If you figure 20% down (190K) plus 600K, thats 790. For a 120K return, and that’s IF IT SELLS FOR $1.9M? And remember, this is not a premier block. (This is starting to matter less in Noe, but it does still matter.)

I don’t think it even makes any sense for an end user at 950K, let alone the 998K overbid price. Surely someone can find a finished Noe house for $1.8M elsewhere? Or heck, an AWESOME Glen Park, Bernal, or Valencia Corridor house?

This one was pretty good at 800 and under, and great at 700 and under.

]]> By: NoeValleyJim http://thefrontsteps.com/2008/07/01/baja-noe-bites-back-141-27th-st/comment-page-1/#comment-5039 NoeValleyJim Wed, 09 Jul 2008 06:54:53 +0000 http://thefrontsteps.wordpress.com/?p=1652#comment-5039 We looked at this place, it needs lots of work. It was a steal at $637, but not at $998. We looked at this place, it needs lots of work. It was a steal at $637, but not at $998.

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