December 4, 2007

Deal or No Deal - Make It or Move On?

The magnate of real estate sounds off with Mr. Silly.  So Howie is the king of deals now?  Not.  This is such a hillarious image to me, as if these two are having some intense, intelligent or insightful conversation.  In my mind Howie is cracking jokes about the Donald’s goofy hairdo and silky pink tie.  Donald is nonplussed (although slightly humored) by the incompetence and lack of New York sophistication of his comrade.  I wonder what Howie might say if the Donald did seriously ask him for advice on his real estate prospects.  The answer is in the body language.  Howie has no clue what he’s talking about and Donald is about to bop him upside the head.  I’m no forecaster, but I’d put my money on Howie deferring to the banker and returning to pose the question ”Deal…(yes, you know the gig).”  Let’s face it, that would be nothing but television antics.  So, I am going to intervene and summarize three potential real estate deals right here in San Diego.  If I’m the banker then you’re the contestant.  Confronted with all the facts, are any of these deals you’d be willing to make or would you hold out for something better?

3650 Front Street

• 1980 3 bed, 4 bath home in Hillcrest
• Asking $1,700,000; $700 per square foot
• Last sold on 8/11/04 for $1,925,000
• Zestimate $2,154,649
• Monthly payment assuming 10% down $8,929
• Payment with taxes amortized over 12 months $10,732

2125 Historic Decatur Road

• 2003 3 bed, 3 bath home in Point Loma
• Asking $899,000; $390 per square foot
• First time resale
• Zestimate $961,902
• Monthly payment assuming 10% down $4,722
• Payment with taxes amortized over 12 months $5,653

4239 Whittier Street

• 1950 1 bed, 1 bath home in Ocean Beach
• Asking $395,000; $645 per square foot
• No past sales data
• Zestimate $354,473
• Monthly payment assuming 10% down and 2% off $2,027
• Payment with taxes amortized over 12 months $2,146

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