Sunday, January 27, 2008

Pending sales, Jan. 27

All these South OC properties are recent additions to the pending sales list in the MLS. Not all may make it to closing, and we won't know what the final sales prices is for a while (we also never will know the full extent of incentives like seller-paid closing costs). Still, these are indicators of the type of activity going on in the local market.

Expect some of these to be short sales and REOs. In the case of an REO, the "purchase price" is really the amount the property went back to the bank for.

Potential profit/loss assumes a completed sale at the full asking price, minus 6% sales costs, subtracted from the previous purchase price showing in Zillow.

29372 Via Acaso, L. Niguel, 92677
Last asking price: $654,900
Size: 4 beds, 2.5 baths, 2,200 sq ft
Purchase price: $773,000
Purchase date: 9/30/04
Potential profit/loss: $-157,394


17 Calle Cangrejo , SC, 92673
Asking price: $699,900
Size: 4 beds, 2.75 baths, 2,400 sq ft
Purchase price: $965,000
Purchase date: 7/1/05
Profit/loss: $-307,094


70 Rue Du Chateau #77, AV, 92656
Asking price: $464,900
Size: 3 beds, 2.5 baths, 1,378 sq ft
Purchase price: $498,440
Purchase date: 9/12/07
Profit/loss: $-61,434


28 Alicante , Coto de Caza, 92679
Asking price: $1,249,000
Size: 4 beds, 3 baths, 2,735 sq ft
Purchase price: $629,000
Purchase date: 5/1/01
Profit/loss: $545,060


23415 Caminito Basilio #326, L. Hills, 92653
Asking price: $359,900
Size: 3 beds, 2 baths, 1,400 sq ft
Purchase price: $282,000
Purchase date: 6/11/03
Profit/loss: $56,306


26952 Colmenar , Mission Viejo, 92692
Asking price: $480,000
Size: 3 beds, 2 baths, 1,472 sq ft
Purchase price: $668,000
Purchase date: 9/1/06
Profit/loss: $-216,800

2 comments:

Unknown said...

I have to disagree with this one comment: "In the case of an REO, the "purchase price" is really the amount the property went back to the bank for."

The majority of banks are not listing them in this manner. They are requesting a BPO from the potential listing agent and setting the price based on the pricing they receive from the licensed professional.

While the banks aren't handling their REO properties in a perfect manner, they're not stupid enough to think that the pricing hasn't changed over the past 3-24 months depending on your market area.

Michelle Schoen
The Permanent Record, LLC
Short Sale Negotiator
REO Listing/Transaction Coordinator

Anonymous said...

psst... cheapest house i've seen yet in Lake Forest. mls # Y800298 too bad the lame-o realtor couldn't be bothered to post any other pictures. curious to see if it's hideous, decent, or what. this is the oldest neighborhood in LF and so the houses run the gamut from very nicely kept to falling apart.