Nice Fixer at Prime location 1.3M

Here is a good one, but not great (fixer) price/deal.

There is a stream behind.

I have not visited the home. I see from google maps, stream is not behind. Calabazas Creek is 8 homes away from this home.

Regnart creek.

When I see the maps, the roads are not proper. I was wondering how city/county allowed diagonal cut road. That resolves the diagonal cross roads hitting the Calabazas Creek.

Both Apple and google map don’t show the Regnart stream that Redfin map shows. Comparing other houses on the market, this fixer is expensive, priced like a remodeled house.

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If the fixer costs more than 100k, it is not worth. It can be a tear down and builders can only buy these. Creek is added negative factor.

Already pending. That was fast.

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Wonder what is the transacted price. Any intelligent guess?

Yes, that is the beauty of Location, Location and Location.

My guess, it may be matching 1.3M, but likely be a tear down builder with high cash down or full cash down. Any builder can make 2500+ sqft two story home and that can easily be listed around 2.5M or more !

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I don’t get it.
Why did they upload the pictures with cracks on the exterior wall?
Were they trying to scare people out?

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My guess is setting the expectation that this is tear down. After seeing that I didn’t consider that as remodel at all, maybe that’s their intention.

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It is priced as a teardown. The cracks don’t matter for a teardown. I don’t know if there is also some consideration of disclosure for material weakness.

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