The 2003 rollbacks keep coming. Here is another in Rancho Santa Margarita:
Via Contento, 92688
Asking price: $297,000
Asking price/ sq ft: $254
Income requirement: $74,250
Peak purchase price: $470,000
Peak purchase date: 2/28/06
Size: 2 beds, 2 baths, 1,170 sq ft (built in 1992)
Income requirement: $74,250
Peak purchase price: $470,000
Peak purchase date: 2/28/06
Size: 2 beds, 2 baths, 1,170 sq ft (built in 1992)
ZipRealty price tracker: Price Reduced: 01/15/08 -- $329,900 to $297,000
2006 property tax: $4,663
HOA dues: $228
Type: Condominium
Stories: One Level2006 property tax: $4,663
HOA dues: $228
Type: Condominium
Lot size: 2,333 sq ft
From listing: Upsatairs corner 2 bed, 2 bath condo in the Tijeras Creek Villas. A spacious 1,170 square feet with lots of upgrades to include: granite counters in kitchen and both bathrooms, designer paint, new blinds, upgraded carpeting, marble flooring in entry. Features large wrap around porch with balcony entrances from bedroom and living room doors. The detached garage is conveniently located near the property and close the stairs. Close to award winning schools, parks, shopping and dining. This property is truly priced to sell!
First of all, in case you haven't checked out Redfin lately, they have re-done the listing pages. I'm trying to decide whether I prefer this way or the old setup better. I like that they've included the complete asking price history now - so you can see each price drop (or increase) and the date. It's also nice to have a thumbnail listing of nearby properties for sale and recent sales. I haven't checked enough yet to see how similar these properties really are, though.The sales history is also a lot lower on the page.
One thing I do know, though, is that pink shouldn't be anyone's color when it comes to walls around fireplaces.
Looking at the sales history, this one appears to have gone back to the bank at the end of November. It also appears that this property was successfully flipped in 2003 - it sold for $256,900 in August, and then again in November for $304,000. The asking price is now below that November 2003 sales price.
If we assume the property is successfully sold for the current asking price, it would represent a $173,000 dip from the peak price in 2006, or a depreciation of 37%. It would also be $7,000 below that late-2003 price as well.
4 comments:
Never has a greater truth been spoken: Fireplaces should not be pink, indeed.
glad you noticed the new Redfin listing pages, and I hope you come around to liking them.
hey, i like the pink wall!
Showed this one to a client the other day. My client liked the floor plan, but it is right on the corner of Antonio and Banderas. I mean right on the corner. We talked to a neighbor while we were there and heard every other word she said.
That partly explains its low price.
I'd love to see 2003 in Laguna Beach. Right now, its rolled back to late 2004. check www.bluemove.blogspot.com for untainted information about Laguna Beach, which is down big time, even though no one is talking about it.
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