What's selling in RSM

Before we get to today's post, here's a link to a very interesting CNNMoney.com story on 2007 housing predictions gone wrong. Lead: "Before you put much hope in forecasts for a 2008 rebound in the battered housing market, consider this: A year ago at this time many top economists were looking for that recovery to begin in 2007."

Here are some recent sales in Rancho Santa Margarita (ZIP 92688) from the past two months. All sales info was taken from Zillow.

Note: It is very possible that some of these properties that Zillow marked as recently sold could simply be ones that went back to the bank after being unable to complete a short sale, as any change in ownership shows up as a completed recent sale in the system. If you can confirm that any of these properties fit that description, let me know so I can update the post. This is especially feasible for the properties that recently changed hands for less than their previous sale price.

22 Cascada
Sales price: $570,000
Asking price: $599,000
1st asking price: $669,000
% of 1st asking price: 85%
Sales $/sq ft: $321
Previous sales price: $247,000
Previous sales date: 3/2/99
Size: 3 beds, 2.5 baths

32 Via Contento
Sales price: $313,000
Asking price: $329,900
1st asking price: $359,876
% of 1st asking price: 87%
Sales $/sq ft: $345
Previous sales price: $405,000
Previous sales date: 12/5/05
Size: 2 beds, 2 baths

6 Calle de los Ninos
Sales price: $425,000
Asking price: $479,900
1st asking price: $515,000
% of 1st asking price: 85%
Sales $/sq ft: $340
Previous sales price: $478,000
Previous sales date: 3/28/05
Size: 3 beds, 2.5 baths

14 Celosia
Sales price: $420,000
Asking price: $425,000
1st asking price: $449,900
% of 1st asking price: 93%
Sales $/sq ft: $354
Previous sales price: $415,000
Previous sales date: 11/21/07 (likely back to the bank)
Size: 2 beds, 2 baths