Sure, the lower-end condo market is getting creamed right now in the mission capital of Orange County, but it's far rarer to see rollbacks among San Juan's more expensive luxury homes. Here's one of those exceptions...
31421 Paseo Diosa, SJC, 92675
Asking price: $1,475,000
Asking price/ sq ft: $335
Income requirement: $368,750
Purchase price: $1,648,000
Purchase date: 6/20/06
Size: 4 beds, 5 baths, 4,400 sq ft (built in 2006)
Income requirement: $368,750
Purchase price: $1,648,000
Purchase date: 6/20/06
Size: 4 beds, 5 baths, 4,400 sq ft (built in 2006)
2007 property tax: $8,424
HOA dues: $283
Type: Single Family Residence
HOA dues: $283
Type: Single Family Residence
Style: Contemporary, Mediterranean
Stories: Two LevelsLot size: 6,500 sq ft
From listing: Long dramatic hallway through 1st floor sets the tone once you've entered. This well thought out, elegant floor plan is sure to please. Tastefully upgraded throughout the entire home. 3 en-suite bedrooms and large master suite.
The sales record in Zillow makes it appear that this is the original owner. Regardless of the exact situation, there is something unsettling and a little saddening about the scant amount of furniture in the photos and lack of wall decorations - it makes it seem like someone either never fully moved in, or already moved out and called in a stager who adheres to some degree of minimalist philosophy.It does not "feel" like anyone's home.
Assuming a best-case sale for the full asking price, minus 6% sales costs, the loss on this property would be $261,500. Not including sales costs, it would also represent a depreciation of 10% off the original (peak) sales price.
2 comments:
I think you are right that it's never been lived in, and the photos are staged. All the furniture shown is light-weight and would easily be transported in a small truck. No beds, bureaus, nothing big.
There are a lot of houses in Rancho Madrina that have not been lived in. The reason is clear as you drive through the tract. The earlier phases were purchased by flippers at the top of the market with plenty of minimalist landscaping. I'm sure each and every person with a mortgage and less than 20% down is now underwater. This is ground zero for failed flips. I feel sorry for the folks who purchased their dream house and are actually planning to live there.
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