Below 2005 prices in Mission Viejo

25945 ORBITA #79, Mission Viejo, Calif., 92691
Size: 2 bed, 2 bath, 1,506 sq ft
MLS: U7002534
Sale history: 05/18/1994: $119,637
07/19/1994: $135,000
05/05/1999: $180,000
09/26/2002: $290,000
09/29/2005: $460,000
Current price: $439,900 (4 DOM, Redfin)

Must see to appreciate this top level, highly upgraded condo at finisterra green 'baja'. Impressive open floorplan, soaring vaulted ceilings, 2 br + dramatic skylighted loft which overlooks the living/dining areas. Remodeled kitchen, newer stainless steel appliances & decorative stone counters. Absolutely gorgeous 'tuscany' style spa/bathroom retreat w/'no expense spared' featuring marble shower, counter tops & flooring. Spacious dressing area w/custom cabinets & much more! Mv lake privileges


Sure, it's upgraded...but just because they spent some money (let's just hope they didn't pay too much to have their kitchen painted that shade of yellow) doesn't mean I'd ever want to live there. In its favor, though, is the fact that 1,506 square feet is a relatively good size for a two-bedroom unit. Compare that to this place in notoriously packed-in Rancho Santa Margarita, which has two bedrooms and two baths, but more than 50 percent less space (975 square feet).

Factoring in 6 percent in selling costs, we're looking at a $46,494 loss for nearly two years of ownership.