...If there was no So Cal housing bubble? Here are some properties for sale now that were last sold in 2000, which happened to be the last year before the bubble started taking off.
An explanation: Projected prices are estimated assuming a very generous appreciation rate of 7% per year, every year for seven years until now.
Projected income required is a conservative estimate of how much money an owner should make per year. Difference is the amount between the current asking price and the projected 2007 price.
34041 Aurelio, Dana Point, 92629
2000 purchase price: $349,000
Projected 2007 price: $560,418
Projected income required: $140,104.50
Current asking price: $989,000
Difference: $428,582
34458 Calle Carmelita, S. Clemente, 92624
2000 purchase price: $289,500
2007 price: $464,874
Income required: $116,218.50
Asking price: $645,000
Difference: $180,126
47 Via Barcelona, RSM, 92688
2000 purchase price: $194,000
2007 price: $311,522
Income required: $77,880.50
Asking price: $479,000
Difference: $167,478
3203 Alta Laguna, L. Beach, 92651
2000 purchase price: $549,000
2007 price: $881,574
Income required: $220,393.50
Asking price: $1,495,000
Difference: $613,426
24782 Eldamar, Lake Forest, 92630
2000 purchase price: $370,000
2007 price: $594,139
Income required: $148,534.75
Asking price: $749,900
Difference: $155,761
49 Marseille, Laguna Niguel, 92677
2000 purchase price: $302,500
2007 price: $485,749
Income required: $121,437.25
Asking price: $1,419,900
Difference: $934,151
Thursday, November 01, 2007
What would prices be like...
Subscribe to:
Post Comments (Atom)
2 comments:
I sold my 3 bedroom, 1500 sq. ft. condo in Ladera Ranch in December 2005, and am renting now. I sold it for $519,000. I just saw the same plan as mine listed for $390,000.
Man! I knew it was going to correct, but dang! This just started. I will be very interesting to see how bad this will get. I feel bad for the people who bought my place. They put $50K down, and used Interest only. They are screwed.
Upside down in Laguna Beach:
1129 Miramar
Bought on 5/25/2006: 1,300,000
Original Asking Price (8/5/07): $1,395,000
Price Reduced: 08/22/07 -- $1,349,000
Price Reduced: 09/12/07 -- $1,299,900
Hurry! Won't Last long! Reduced by $100.00!
1170 Miramar
For Sale in 2006: $1,125,000
Reduced 10/25/2006 $1,095,000
Sold: 2/15/2007 $1.095,000
Listed again 7/15/07: $1,100,000
Now there's a range price of $1,100,876-$950,000
Good Luck!
1601 Louise
Bought 12/15/06: $1,775,000
Original Asking Price (8/20/07): $1,900,750
Price Reduced: 9/20/07: $1,598,900
Price Reduced: 10/20/07: $1,475,000
Underwater by $300,000K
Post a Comment