Sunday, February 03, 2008

Best Listing Ever

Getting ready for the big Superbowl party, so stats will have to wait 'till tomorrow. To tide you over, here's a priceless listing in Gwynster's neighborhood. I'm sure buyers will be lining up to buy this place!


610 Lessley
Davis, CA 95616
Asking Price: $350,000
Bedrooms:3    Baths: 2    Sq. feet:1112
Last Listing Date: 2008-02-02
True days on market: 43
# of Times Listed: 1

MLS# 70127576      Google Maps









11 comments :

Sippn said...

In Davis?

Look at # rooms x local room rental rate vs price.

OR

UCD parents look at 4 year investment in kids rent vs. this.

Hmmmm.

Sippn said...

Walking distance to UCD, almost lowest priced non duplex in Davis, lowest 3 bedroom.

Anybody know the local rents in Davis?

Patient Renter said...

LOL! Wow.

smf said...

All of you are failing to see the 'potential' this house has...

*chuckle*

Rob Dawg said...

If my kid goes to UCD I'll be buying one like this for low $200s. At that price roommates and depreciation and paying the kid management fees and it is cheaper than the dorms.

Gwynster said...

The REOs on the small 3br are pretty easy to find on the MLS, between 290k to 360k. They were hanging there for quite a while with huge DOMs. Some finally sold this winter.

Of the 3 that I know, they weren't to speculators who are rehabing them to flip (and pooring money into them like idiots).

There will be a good time to buy in Davis but we aren't even close yet.

Gwynster said...

Weren't to = went to

Sorry, sick with flu and making dumb typos

Sippn said...

Slow down on the chloroseptic (save some for me!)

Max said...

There will be a good time to buy in Davis but we aren't even close yet.

In a past life, I spent a lot of time in a house with this exact floor plan (and condition :). I can say with 100% certainty that this would be a complete tear-down for any rehabber. This house is 40 years old, and has probably been a UCD rental for 30 of those years.

inpd said...

> Walking distance to UCD, almost lowest
> priced non duplex in Davis, lowest 3
> bedroom.

Sippn, you should go into real estate
(if you aren't already which I suspect
you are).
You use realtor
logic: "Buy this overpriced
property because it's the same
price as everyone else's overpriced
property!"

Davis prices are dropping fast, there
is now a few sub $500K 2000+sq ft
homes built in late 90's available.
Prices will continue to drop for a
while. The nice Bank of America banker
warned me that if this home
does not appraise to the purchase
price (and he believes
they won't)) then they won't lend you
the money.

Sippn said...

Of course they won't. BofA has always been one of the most conservative lenders. There are several lenders right now taking today's appraisal and slashing 10% off "just because" (I thought that was why they required down payments)

I don't know the Davis market that well, but I do know that per room rental rates determine the bottom in Davis.

There is no oversuppy of new homes in Davis....well except Woodland and West Sac ... but should you compare?