No guarantees

The Redfin sales history on 23 Camino Silla says it all: Things got completely out of hand, and now this Talega property looks like it's an REO.

6/13/2007: $779,000
4/17/2006: $950,000
3/30/2005: $810,000
10/15/2003: $620,000
3/07/2001: $357,000

Other info:
Current asking price: $719,000
Days on Redfin: 57

An intriguing element is the listing description: One of the very best values in the sought after city san clemente. Four bedrooms and a loft, 3 bathrooms. Upgrades throughout. Everything is close: the talega swim & athletic club,golf, parks etc... All this and the ocean is just down the street!! Home is being sold 'as-is' and 'where-is' without warranty. Come start living the beach lifestyle here in san clemente today...

The as-is part is understandable. But "where-is?" What the heck does that mean - are they implying we can't buy the property, come over with some hardcore construction equipment, uproot the house right off its foundation, and then drive it up the 405 to a different lot in Newport Beach?

In case anyone was wondering, the loss on this property (assuming it sells for this asking price, minus 6 percent selling costs) would be $103,140. This also would represent a dip of $231,000 (about a 24 percent loss in value) from the peak price of $950,000 in April, 2006, according to the sales history on Redfin.