Comments on: Great starter home in Gilroy

By: sonarrat

sonarrat — Thu, 28 Aug 2008 22:25:50 +0000

“Up and coming” = you’ll dodge bullets
“Family neighborhood” = the Norteno family, you’ll dodge lots of bullets
“Do not disturb tenants” = the property will be destroyed when they’re evicted
“Close to shops” = backed up to a strip mall
“Large lot” = if you’re used to living in Tokyo

By: Pralay

Pralay — Thu, 28 Aug 2008 04:04:16 +0000

Ok, so what means “on superfund site”???
———

“If you buy it, your children can get cancer.”

By: Pralay

Pralay — Thu, 28 Aug 2008 03:59:09 +0000

And lastly,

“Motivated seller” = “Owner got f**ked pretty well. Now wants to get out.”

By: Pralay

Pralay — Thu, 28 Aug 2008 03:53:26 +0000

“Won’t stay in market for long” = “We hope someone will make an offer someday.”

“Handyman’s special” = “The house can crumble anytime”

“Recently remodeled and upgraded” = “Could not sell four months back. Hopefully it will sell this time.”

“Dual pane window” = “Close to freeway. Lots of noise.”

“Well worth $$” = “Please buy it”

“Must see” = “Don’t be deceived by location or bad look. Come to open house anyway.”

“Priced to sell” = “Unlike 2004-2005, we did not price this home $50 more than the last sold comp.”

By: whocares

whocares — Thu, 28 Aug 2008 03:26:06 +0000

I can’t resist but to play my own game:

mature vegetable gardens = “I, the RE broker, am scraping the bottom of the barrel for something good to say”
manicured lawn = I got nothin
not a short sale = WE ARE STILL WISHING
cute = quaint charmer (see above)
Rare opportunity = please do not look at the comps priced significantly less
still accepting offers = waiting for a bigger sucker
“as is” = foundation is fucked.
Affordable housing = worst house on the block
day care cleared by fire department = uh…. hm.. (little help? lol)
dual paned windows = OUTSIDE IS LOUD

Ok, so what means “on superfund site”???

By: whocares

whocares — Thu, 28 Aug 2008 03:14:18 +0000

I’d like to start a game. Anyone interested? Just for fun I’d like to hear what you all think are the funniest things RE brokers say and create a dictionary. I’ll start. Bonus points will be awarded for the worst negative turned into the most preposterous positive!

“unlock your stored equity” = “Overextend yourself on a new home giving me the largest commission possible”
Lots of potential. = Dump
Investment opportunity = Major Dump? heh?!
Close to transportation = Train/highway/bus runs through backyard
charmer = dilapidated
starter home = POS
quaint = TINY

So, which is worse an investment opportunity or ‘potential’?

Before you guys rail me for equating starter home with POS… I’d like to say that if a home is labeled as a starter home on an advertisement which is supposed to outline the good qualities of the home, it states from the get-go: “hopefully your expectations are low!” If it wasn’t the case, they wouldn’t state that it was a starter home.

By: whocares

whocares — Thu, 28 Aug 2008 03:04:48 +0000

Part of the reason people think that property isn’t declining is because these are still being listed so high. It’ll come around.

By: rick

rick — Thu, 28 Aug 2008 02:11:03 +0000

Well, I admit that Irvine probably has affected us, or even RBA, but have they affected the few blocks our RE investors own? NOT!

By: nomadic

nomadic — Thu, 28 Aug 2008 00:16:16 +0000

whocares says: Starter home, huh? What exactly is being started? A lifetime of bad financial decisions?

I think you nailed it with that statement! LOL

If you go to the site specifically for the house shabba posted, you’ll see it’s 3200sf. “Just” $905/sf – for San Mateo. Huh. Don’t think it’s gonna sell.

madhaus, I don’t think we’ll be hurting as bad as Irvine because many, many of their jobs disappeared with the housing bust and because there was a lot of new construction over the last few years down there. I’d say it’s a vast oversimplification to say that anyone here is denying it will affect us because it already has and probably will continue to for another year or so.

By: madhaus

madhaus — Wed, 27 Aug 2008 23:27:13 +0000

WG, Irvine was a premium OC community and it’s collapsing under its own weight due to a combination of things. Too many people were involved in the Real Estate biz and those jobs are toast. Too many people with negative equity in their properties. Too many foreclosures. Too many people who drank the HELOC Kool-Aid again and again.

But to insist that none of this will affect us here is willful blindness.