Rancho Santa Margarita is 3rd in the county in terms of highest percentage of distressed properties (foreclosures and short sales) for sale. So, to celebrate, here is a quick tour of some of the 108 unfortunate distressed properties in RSM that are on the market.
First, a 2003 rollback...
89 Castano
Asking price: $179,000
Purchase price: $269,000 (5/31/2006)
2003 price: $185,000 (8/12/2003)
Size: 1 bed, 1 bath, 600 sq ft
About as close to a 2003 rollback as you can get...
10 Coralino
Asking price: $179,999
Purchase price: $265,000 (5/19/2005)
2003 price: $179,000 (1/28/2003)
Size: 1 bed, 2 baths, 720 sq ft
Your run-of-the-mill 2004 rollback...
16 Calle Vaqueta
Asking price: $545,000
Purchase price: $618,000 (5/26/2004)
Loss (incl. 6% sales costs): $105,700
Size: 4 beds, 2.5 baths, 1,600 sq ft
About a $200k loser. No photo...
7 Lompoc Ct
Asking price: $535,000
Purchase price: $700,000 (12/9/2005)
Loss: $197,100
Size: 4 beds, 3 baths, 2,080 sq ft
34% discount from last sale...
23 Via Cresta
Asking price: $204,000
Purchase price: $310,000 (5/27/2005)
Loss: $118,240
Size: 2 beds, 1 bath, 668 sq ft
Tuesday, November 06, 2007
Here's to you...RSM
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2 comments:
wow keep those '03 rollbacks coming! When will it be '02 rollbacks?
I grew up in RSM in when it was first getting started. I left in 1991 and was shocked last year at how much it was developed. A good friend of mine from High School bought a house in RSM for $330k in 1999 and was upset when one of his neighbors was selling their house in Jan of 07 for only $790k, because it was worth $825k - yeah right. I was thinking it was only worth $450k max, and it probably will be in a few years.
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