La Joe la’s House of Pain

La Jolla Dreamin’

Whats not to Like about La Jolla?

A great cove and Beaches

Great shopping and village area

Fast cars and fast chicks

Hey ,it looks so good that I may even want to move there!

But hold on there cowboys, is there trouble in paradise?

Welcome to the La Jolla houses of pain – where money doesnt matter , time stands still and snob hobbin’ is included at no charge!

544 GENTER STREET, LA JOLLA 92037

http://www.redfin.com/CA/La-Jolla/544-Genter-St-92037/home/4913557

A CUTE REMODELED RANCH  – “Completely remodeled home in sought after Beach-Barber Tract, Enjoy walking to award winning schools, Pearl Street venues, upper Girard, Sunday farmers market, shopping, fine dining, cafes, art galleries, local beaches and the Cove. This house exemplifies everything that living in La Jolla has to offer”

I couldnt of said this better myself.

PRICE – $1049999(JUST REDUCED!)

BEDS-2 BATHS-1

SQ FT- 1052

$/SQFT – 998

LOT-3485 SQ FT

YR BLT -1950

It already looks like a must have! But wait!, theres More!

“new water heater” yes its too good to be true -that is the clincher for me -$1000/ sq ft- no problem!

  • Property History for 544 Genter St

    Date Event Price Appreciation Source
    Sep 16, 2011 Price Changed $1,049,900 SANDICOR #110039813
    Jul 11, 2011 Listed (Active) $1,099,000 SANDICOR #110039813
    Jul 29, 2008 Sold (Public Records) $890,000 8.5%/yr Public Records
    Jan 27, 1999 Sold (Public Records) $410,000 Public Records

Ok am I missing something? Is there a gold mine buried under the one bathroom?

So it was  a correctly and sanely priced 410k at the start of the bubble in 1999 and not yet remodeled. But then it was off to the promised land. They remodeled most of the home and sold it in a already falling market in 2008 for 890k , and now the new owner puts in a water heater and picket fence and thinks its worth $1000/sq ft.   !

LETS USE THE CALIFORNIA DREAMIN’ PRICING INDICATOR (EST VALUE ON 01/01/2000 +1/3 OF THE RENOVATIONS AFTER)

01/01/2000  –  $475000   RENOVATIONS- $40K (120K TOTAL)

VALUE RIGHT NOW IS $ 515000

Great comp just 1 block over:

7172 EADS AVE LA JOLLA 92037

http://www.redfin.com/CA/La-Jolla/7172-Eads-Ave-92037/home/6610328

SOLD PRICE – $870000

BEDS-3

BATHS-2

SQ FT- 1335

$/SQFT –657

SOLD ON 06/07/2011 BEFORE THE SUMMER SEASON!

COMPLETELY REMODELED JUST AS NICE AS GENTER ST AND MORE SQ FT AND RMS TO BOOT!

ON 06/07/2011 BEFORE THE SUMMER SEASON! AND THE PRICE WAS WAY TOO HIGH STILL! PREVIOUSLY SOLD FOR 625K IN THE HEART OF THE CRAZE IN 2003.

Welcome to lovely La Jolla- where bubbles live forever and dreams do come true!

Kudos to Dr housing bubble-   http://www.doctorhousingbubble.com/

4 Responses to “La Joe la’s House of Pain”

  1. PF Flyer says:

    Thanks-
    Spoke to a realtor recently and asked why so many list for higher than top of bubble pricing. Was told “we are lucky to live in an area so desirable that we haven’t experienced the price drops other areas have had.”

  2. California Dreamin' says:

    Np PF , I love what that realtor said to you. What a joke.
    It keeps feeding onto itself. But lucky for us we know that it will also happens in reverse too

  3. Jack says:

    San Diego still is in a massive, massive, massive bubble.

    Just wait till the government cuts back drastically on defense spending — and it will, because the federal government is beyond bankrupt. This will hit San Diego very hard, which has a lot of military spending.

    All of San Diego still has bubble pricing. We have much, much further to fall.

  4. California Dreamin' says:

    Thanks Jack. Yes the Navy is what basically keeps a lot of SD afloat right now. Coronado is a perfect example of this. Higher ranking officers and pilots get a large govt monthly housing stipend to spend on housing when relocating from other areas(3-5k per month) in addition to their regular salary. It has kept coronado in bubble la la land.

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