Lakeview 2/2 Now $48,000 Under the 2001 Price: 1525 W. George
We’ve chattered about this 2-bedroom at 1525 W. George in Lakeview several times.
See our August 2011 chatter here.
Some of you thought the owner should just rent it out. Others thought it would ultimately sell between $240,000 and $260,000.
It has reduced again and is now $48,000 under the 2001 purchase price.
If you recall, it has 1200 square feet on one level with a south facing deck off the master bedroom or from the unit. It has diagonal hardwood floors in the main living areas (sorry Sonies!).
The unit has a wood burning fireplace and a master suite with shower/tub combo. The kitchen has black appliances and stone counter tops.
The unit has the amenities buyer look for with central air, in-unit washer/dryer and deeded parking.
The listing now says: “Bargain Hunters? Huge $60,000 price reduction!”
Would this seller be better off pulling it from the market and coming back on in the spring?
Bob Kinsloe at Portola Real Estate still has the listing. See the pictures here.
Unit #2: 2 bedrooms, 2 baths, 1200 square feet
- Sold in November 1995 for $200,000
- Sold in September 1999 (no price listed)
- Sold in June 2001 for $338,000
- Originally listed in January 2011 for $370,000
- Reduced
- Was listed in May 2011 for $325,000
- Reduced
- Was listed in July 2011 for $300,000
- Reduced $100
- Was listed in August 2011 for $299,900 (parking included)
- Reduced
- Currently listed for $290,000 (parking included)
- Assessments of $88 a month
- Taxes of $5343
- Central Air
- In-unit Washer/Dryer
- Bedroom #1: 12×12
- Bedroom #2: 12×10
“The listing now says: “Bargain Hunters? Huge $60,000 price reduction!””
Was listed in July 2011 for $300,000
Reduced $100
Was listed in August 2011 for $299,900 (parking included)
Reduced
Currently listed for $290,000 (parking included)
60k, 10k, who’s counting?
“Bargain Hunters? Huge $60,000 price reduction!””
“Knife Catchers? Look out below!”
My guess remains $240k and that’s a generous $200/sf for this generic 2/2.
They overpaid in 1995 and massively overpaid in 2001. They will be lucky if they get $225,000.
Stop the presses! Change that headline to “Now $9,000 Under the HD Price”.
Sold in September 1999 for $299,000
I think this looks cheap.
What, this realtor’s strategy of changing the price every week by insignificant amounts so that it shows up weekly as a Price Change hasn’t worked? Go figure.
How do you own something for 10 YEARS and lose money??!!!??
It’s easy–you just gotta fall for a debt fueled ponzi scheme.
Yeah that’s crappy for the owners. That was not that far into the bubble, they must have really overpaid.
I think some small things are making this look/feel a lot older than it is… the white tile in the one bathroom, the trim not being white, black appliances, cheap looking wood closet doors
It doesn’t help that it looks like they’ve done nothing in 10 years, the front door opens into the kitchen or that it is made of cinder block.
Just because it may be been reduced over time $60k from an astronomical price does not make a bargain.
I like George to the East of Lincoln… not too crazy about it on the West side. This is perfect for a 203K loan, where you could rehab/reconfig the kitchen, bathrooms, drop some hardwood in the bedrooms, etc.. It’s amazing how dated certain finishes can look in just a few years.
$255,000 sale price.
“This is perfect for a 203K loan, where you could rehab/reconfig the kitchen, bathrooms, drop some hardwood in the bedrooms, etc.. It’s amazing how dated certain finishes can look in just a few years. ”
People like you are already maxed out on credit. You don’t have money to borrow anymore for such things. And most people who detest “dated” appliances likely are too lazy to go through the paperwork of the 203k loan.
Welcome to the generation of do-ers. Not out of the shrinkwrapped box borrowers.
Somehow, I’m thinking a 203k loan is intended for a distressed property, and lowish income buyers, not some 10 yr. old condo that “needs” new cabinets or appliances.
This is in Burley, right? that’s gotta set a floor at some point, no?
It’s too bad there weren’t any pictures of the side of the condo building–because I was wondering if they were cinderblock–looks like it.