Could anyone tell some details regarding MLS#120040680,120041400,120043027?Why they'r not sold since August? they have good locations. Thanks!

Asked by Ttggmmjj, San Diego, CA Fri Dec 14, 2012

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Teresa (Tera)…, Agent, San Diego, CA
Sat Dec 15, 2012
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These listings are for two duplexes (total of four 722-sq-ft units). The first two listings are of one duplex each. The third listing is for both duplexes (all four units). Both duplexes are owned by the same person. The owner will sell each duplex separately or both together.

The low end of their asking price range for one duplex is $429k and $439k for the other, for a total of $868k to buy both units (if they would sell for the low end of their asking price range). The third listing for both duplexes shows an asking price of $928k which is the total of the high end of their asking price ranges for both duplexes.

They appear to owe approx $192k on one duplex and approx $525k on the other, for a total loan balance of approx $717k. If they sell both duplexes together, both loans could be paid off from the sale proceeds. If they sell only one duplex at a time and it happens to be the one on which they owe approx $525k they would have to pay out of pocket the difference between the sales price and the loan balance or they would have to ask the lender for a short sale. On the other hand, it is possible that they could have paid down the loan balance; only the original loan balance shows in public records.

They state the four units rent for a total of $5045/month; however on one listing it says that one unit is vacant, with the other three renting for a total of $3695/month. (It is possible that the unit may have been rented since the info was entered on this listing.)

It appears that these properties may be overpriced; $928k or even $868k is high for four units of 722 sq ft each, for a total of 2888 sq ft with no garages, no views, and located on a busy street.

Another reason these units may be taking a while to sell is that in order to keep from unnecessarily inconveniencing the tenants, the owners are restricting showings to serious buyers only. The showing instructions state "show with offer." This means that potential buyers need to make an offer sight unseen. Then after they are granted a viewing, potential buyers could renegotiate if the property condition is not acceptable. This limits the number of potential buyers because many buyers prefer to see the property before making an offer.

Feel free to contact me if you wish to see comps for these units and if you wish advice on an appropriate purchase price.

Tera George
CA DRE Lic #01236255

tera112233@yahoo.com
(760) 931-0345
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Teresa (Tera)…, Agent, San Diego, CA
Thu Dec 20, 2012
Thank you... let me know when you are ready to buy...

Tera George
CA DRE Lic #01236255

tera112233@yahoo.com
(760) 931-0345
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Ttggmmjj, Home Buyer, San Diego, CA
Tue Dec 18, 2012
Teresa , you are really an Real Estate expert in San Diego, CA !
Thanks a lot!

Keep in touch!
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Teresa (Tera)…, Agent, San Diego, CA
Mon Dec 17, 2012
Here are some good property management companies:

Utopia Management
http://www.utopiamanagement.com

Income Property Advisors
http://www.ipasd.com

West Rental Management
http://www.westrentalmanagement.com

American Heritage Properties
http://www.renthomes.com
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Ttggmmjj, Home Buyer, San Diego, CA
Mon Dec 17, 2012
Would you please also advice good professional property manager/managment in SD to run my property to be acquire any in future?

Thanks very much!!
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Ttggmmjj, Home Buyer, San Diego, CA
Mon Dec 17, 2012
Thanks very much for your reply, Teresa and Maria!

Have a wonderful day!
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Maria Claudia…, Agent, San Diego, CA
Fri Dec 14, 2012
possibly simply overpriced.
Investors are looking for cash for and ROI.
Properties in PB do not certainly provide positive cash flow at that price
Also, Grand Avenue is a busy street. Not really the best in PB even though it is close to the ocean.
It looks like they are all part of the same complex.

The seller may have to sell them all at once.

If you are very interested or would like me to call the listing agent to find out more information about it I'd be happy to do so.

Hope this helps
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