Rolling, rolling, rolling

The Irvine Housing Blog (a personal favorite) sometimes features properties with mega price reductions, a.k.a rollbacks (prices that have rolled back to the prices of years before).

Try these quick-hit disasters on for size in Ladera Ranch and Mission Viejo, Calif., courtesy of Redfin (too many out there to list here, sorry):

26923 Orchid Ave, 92692
Asking price: $397,777
Purchase price: $510,000
Purchase date: 12/26/2006
Current potential loss: $136,089.62


5 Quartz Lane, 92694
Asking price: $520,000
Purchase price: $605,000
Purchase date: 5/12/2006 (earlier seller paid $565k in late 2005. Original owner paid $500k in 2004)
Current potential loss: $116,200

15 Luzern, 92692
Asking price: $535,000
Purchase price: $630,000
Purchase date: 3/31/2006
Current potential loss: $127,100


33 Bailey Street, 92649
Asking price:$510,000
Purchase price: $540,000
Purchase date: 6/22/2004 (A 2004 rollback!)
Current potential loss: $60,600


15 Dietes Court, #135, 92694
Asking price: $464,900
Purchase price: $562,000
Purchase date: 3/22/2006
Current potential loss: $124,994


116 Sansovino, 92694
Asking price: $449,000
Purchase price: $476,000
Purchase date: 6/3/2004 (Another 2004 rollback!)
Current potential loss: $53,940

Here's the obligatory nearby seller grasping at a wishing price that would still result in an overall loss:

77 Sansovino, 92694
"Asking" price: $435,000
Purchase price: $413,000
Purchase date: 1/4/2005 (116 Sansovino, listed above, has a bit more square footage)
Current potential loss: $4,100

For the record, 80 Sansovino is also for sale for $480,000. Price paid in October, 2004: $395,000.

Note: Potential loss assumes a sale at the current asking price, minus 6 percent in selling costs.

For a great investigation of some of the shenanigans going on in Ladera, check out this post in the Bubble Markets Inventory Tracking blog.