Thursday, September 28, 2006

New Series: "Florida Bubble P.O.S. of The Week"!

The easiest way to determine whether or not your town/state/region is in a housing bubble is to look at the prices of the P.O.S. (piece of s...) properties.

Ergo, our new series, "Florida Bubble P.O.S. of The Week"!

Each week, I will be posting a "canary in the coalmine" property from around the Sunshine State, one that is clearly not worth anything close to the asking price. A simple and elegant symbol of the mass psychosis that has gripped the greedy denizens of the realty trade here in Florida.

And here now, our first contestant! Features of this charming house:
  • 1215 sq. feet of living space.
  • 1-car garage.
  • Sits on a microscopic .09 acre lot.
  • Located in a failing school zone.
  • Originally sold for $50K in 1990.
  • Last sold for $135K in 2005.
  • A virtual steal at the current asking price of $200K!

Won't you please buy it and keep the bubble afloat?

Tampa - P.O.S #1

Any other Florida Bubble P.O.S.'s out there? Please post and give us all a good guffaw!

24 comments:

Anonymous said...

I don't know if I should be outraged at realtor and owner for the truly-mind-boggling price, or laugh myself silly at such a sight.

Amateurs, amateurs, amateurs. What a waste.

That house shouldn't sell for a penny more than $80K.

Shell said...

Check this wack-place in Jax:

Assessed at $59K, asking $145K.

And it has an ABOVE GROUND POOL! Sweeeeeet!

Wacko in Jacko

zippo said...

Hey, that pool might be a mighty nice way to impress the ladies...!

Sheeple said...

Let's see...priced at 80K more than the tax assessor says?

Sounds like a great deal! Where do I sign up?

beach wreck said...

Try this for size - 1030 square feet of comfy and a no-car garage (okay, that's a lie - there IS NO garage!). And so close to the freeway, you can listen to it alllll night long!

West Palm Beauty

Anonymous said...

Love your blog. Have been reading Ben Jones for a while and found you through that site. I have been looking at NE FL RE since 2003. Selling in NYC (in contract today!) and will rent until the bottom drops out. Keep up the good work and yes, if I see any POS flipper stuff, its in the mail to you ASAP. gordo nyc

Rose1980 said...

Sorry I don't know how to post a link - but this one takes the cake:

$185,000 will get you a 620 sf 1971 condo conversion in a crime ridden area of WPB - HOA fees/property taxes of $377. But it comes with a community laundry room.



http://realestate.aol.realtor.com/FindHome/HomeListing.asp?snum=97&frm=byzip&lid=Enter+MLS+ID&ss_aywr=&st=&mls=xmls&mnbed=0&js=off&mnsqft=0&fid=so&vtsort=&poe=realtor&mnprice=0&zp=33401&ct=&mxprice=200000&typ=2&exft=0&exft=0&exft=0&exft=0&mnbath=0&gate=aolrealestate&source=a12914&sid=073ED9544228C&pgnum=10&snumxlid=1064801325&lnksrc=00002

FL - Paradise Lost said...

Gordo,
I've seen your posts on Ben's site - great stuff! And congrats on your sale, you are definitely in a "good place" for the foreseeable future.

Rose & Beach Wreck,
Those are some real nice properties in WPB - can't believe there aren't sellers outbidding each other to get a piece of that "action".

I'll post a link soon with quick tips on posting links and what-not. Heck, I'm just getting started myself!

Cheers!
- Jerry

FL - Paradise Lost said...

Gordo,
I've seen your posts on Ben's site - great stuff! And congrats on your sale, you are definitely in a "good place" for the foreseeable future.

Rose & Beach Wreck,
Those are some real nice properties in WPB - can't believe there aren't buyers outbidding each other to get a piece of that "action".

I'll post a link soon with quick tips on posting links and what-not. Heck, I'm just getting started myself!

Cheers!
- Jerry

FL - Paradise Lost said...

See what I mean? I posted the first message with "sellers" when I meant "buyers" - but apparently there is no way for me to remove double posts. Or is there?

Anonymous said...


Sweet 2 bed / 1 bath
this home would look FAB with a Cat-Dozer snuggled up to it. It is also on s Dirt road in between two trailer parks.


Lovely Bungalow
too bad they forgot to mention that this home has gaping holes in the roof (you can see outside from inside) the second bath is rotting off the house, termites have treated themselves to various window sills, floor joists and rafters... I could not see inside the walls, I am sure they are bad too)...OH the best part of all is, it is adjacent to a central Florida juvenile detention center for young girls (my young daughter of 7 learned a few new words while we inspected this home)


Artsy! Check out the RE Agency link! This house was purchased in 1999 for roughly $35k and I HIGHLY doubt that there has been more than 50 cents of real improvements! UGH, the house needs a total rehab, especially the dysfunctional kitchen and bath!

What ARE these people thinking! PLEASE! hahahaha

Fed up with Florida said...

This one isn't exactly a POS but sure as hell is overpriced.

The owners purchased this house in 1996 for $204,000.

This house is located in Orlando where the median income is around $35,000.

http://orlando.craigslist.org/rfs/214054189.html

(You must take the property tour, enjoy the music!)

davenjax said...

Did I read that right? $1.2 mil for a house that cost $204K 10 years ago?

Good luck to the losers who own the place and extra good luck to the extra-large losers who buy it.

sandi said...

Anon,
Your first link is by FAR the best "Florida POS" I've ever seen! Hilarious - a "handyman's special" if I've ever seen one.

Anonymous said...

Ok, it's not Florida but hell, with a POS this good I just had to share.
This is still the good old USA.


http://www.realestateshows.com/show.php?mls=basic&id=46757

zippo said...

At first I thought that was a joke listing (what with the piano playing and showing ceiling panels falling out), but then the "aha!" moment hit. Waterfront, waterfront, waterfront. Double-wide, but waterfront. Ahhhh...the splendor.

Anonymous said...

This is a nice one. No appliances, no A/C, no water heater, possible mold, roof has less than 2 years of life, lead-based paint, 3br/1ba (but no fixtures remain). Only $140/sf ! Buy now!

http://hud1.towerauction.net/cgi-bin/e9_select_property.cgi?id=094404222&office=e9&state=FL

Property Appraiser record:
http://www.ocpafl.org/pls/webappI/get_parcel_master?pid=302227042602110&query_data=1111111A&tax_year=2006

sandi said...

Looks like an excellent candidtate for "flip this house"!

C'mon - isn't there any dim-bulb out there who wants to make some quick money?

Anonymous said...

酒店打工 酒店兼職
台北酒店 打工兼差 酒店工作 禮服酒店
酒店兼差 酒店上班 酒店應徵 酒店 酒店經紀

JAY said...

http://www.fishingcostaricaexperts.com/
 
Costa rica Fishing

Planeta Vivo Costa Rica said...


Costa Rica Honeymoon All Inclusive Packages,
Costa Rica Honeymoon Vacation Packages,
Costa Rica Vacations All Inclusive,
Costa Rica All Inclusive Vacations,
Costa Rica Mountain Biking Tours,
Costa Rica Horseback Riding Tours,
Monteverde Cloud Forest Reserve Tours,
Carara National Park Tours,
Costa Rica Surf Lessons Jaco,
Manuel Antonio Beach Tours,
Costa Rica Tours,
Arenal Volcano National Park Tours,
Rincon De La Vieja National Park Tours,
Poas Volcano National Park Tours,
Costa Rica Family Surf Vacation Packages,
Arenal Volcano Overnight And Monteverde Cloud Forest,
Tenorio Volcano National Park Tours,
Tortuga Island Costa Rica Tours,
Costa Rica Canopy Tours Los Suenos,
Irazu Volcano National Park Tours,
Braulio Carrillo National Park Tours,
Manuel Antonio National Park Tours,
Costa Rica Bird Watching Tours Jaco,
Costa Rica Transportation,
Costa Rica Volcano Tours,
Costa Rica Tours,
Costa Rica National Park Tours,
Palo Verde National Park Tours,
Costa Rica Rent A Car

Costa Rica Fishing said...

Costa Rica has some of the best Sport Fishing in the world. The Pacific side
has incredible fishing for Sailfish, Marlin, Dorado, Tuna, Wahoo, Roosterfish,
Snapper, and more. The Caribbean side and Northern regions of Costa Rica are
famous for big Tarpon and big Snook.Costa
Rica Fishing Packages
, Costa
Rica Fishing Boats
, Costa Rica Fishing,
Costa Rica Sport
Fishing Packages
, Costa Rica
Fishing
, Costa Rica
Fishing Packages All Inclusive
, Fishing Trips Costa Rica,
Los Suenos Costa Rica Fishing,
Los Suenos Costa Rica Fishing Charters
, Costa Rica Fishing Vacation Packages,
Costa Rica Fishing Packages All
Inclusive
, Costa Rica Fishing
Trips
, Costa Rica Fishing Trips
All Inclusive
, Sport Fishing
Costa Rica
, Costa Rica Sport
Fishing Charters
, Sportfishing
In Costa Rica
, Jaco Costa Rica
Fishing Charters
, Jaco Costa
Rica Fishing Packages
, Jaco
Costa Rica Sport Fishing


 
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

CostaRicaWeddingPlanners is an unforgettable experience. We are the premier
planners, coordinators, officiants, and photographers of Costa Rica weddings and
our site is proof positive of our experience and commitment to weddings in this
beautiful country.Costa Rica
Weddings
, Costa Rica
Wedding Packages
, Costa
Rica Weddings All Inclusive
,Wedding In Jaco Costa Rica,
Costa Rica Wedding Venues,
Costa Rica Wedding Packages All
Inclusive
, Costa Rica
Wedding Planner
, Getting
Married Costa Rica
, Costa
Rica Destination Weddings

Costa Rica fishing los suenos,
sport fishing vacations costa rica,
costa rica fishing vacations,
costa rica tours,
vacation planner costa rica,
costa rica holiday rentals,
costa rica fishing charters,
costa rica beach vacations,

Costa Rica Weddings said...

Costa
Rica Fishing Packages
, Costa
Rica Fishing Boats
, Costa Rica Fishing,
Costa Rica Sport
Fishing Packages
, Costa Rica
Fishing
, Costa Rica
Fishing Packages All Inclusive
, Fishing Trips Costa Rica,
Los Suenos Costa Rica Fishing,
Los Suenos Costa Rica Fishing Charters
, Costa Rica Fishing Vacation Packages,
Costa Rica Fishing Packages All
Inclusive
, Costa Rica Fishing
Trips
, Costa Rica Fishing Trips
All Inclusive
, Sport Fishing
Costa Rica
, Costa Rica Sport
Fishing Charters
, Sportfishing
In Costa Rica
, Jaco Costa Rica
Fishing Charters
, Jaco Costa
Rica Fishing Packages
, Jaco
Costa Rica Sport Fishing


 

Costa Rica
Weddings
, Costa Rica
Wedding Packages
, Costa
Rica Weddings All Inclusive
,Wedding In Jaco Costa Rica,
Costa Rica Beach Weddings,
Los Suenos Wedding,
Jaco Costa Rica Wedding,
Jaco Wedding Planner,
Costa Rica Married,
Wedding Planning Costa Rica,
Costa Rica Wedding Locations,
Costa Rica Wedding Venues,
Costa Rica Wedding Packages All
Inclusive
, Costa Rica
Wedding Planner
, Getting
Married Costa Rica
, Costa
Rica Destination Weddings


Los Suenos Costa Rica,
Los Suenos Costa Rica Condos For Rent,
Los Suenos Costa Rica Vacation Rentals,
Los Suenos Condos For Rent,
Los Suenos Vacation Rentals,
Los Suenos Condominiums,
Los Suenos Condo Rental


Costa Rica Weddings said...

Costa
Rica Fishing Packages
, Costa
Rica Fishing Boats
, Costa Rica Fishing,
Costa Rica Sport
Fishing Packages
, Costa Rica
Fishing
, Costa Rica
Fishing Packages All Inclusive
, Fishing Trips Costa Rica,
Los Suenos Costa Rica Fishing,
Los Suenos Costa Rica Fishing Charters
, Costa Rica Fishing Vacation Packages,
Costa Rica Fishing Packages All
Inclusive
, Costa Rica Fishing
Trips
, Costa Rica Fishing Trips
All Inclusive
, Sport Fishing
Costa Rica
, Costa Rica Sport
Fishing Charters
, Sportfishing
In Costa Rica
, Jaco Costa Rica
Fishing Charters
, Jaco Costa
Rica Fishing Packages
, Jaco
Costa Rica Sport Fishing