Two Dove Canyon REOs in the same week? Believe it.
29 Muirfield, 92679
Asking price: $689,900
Asking price/ sq ft: $287
Income requirement: $172,475
FB purchase price: $699,000
FB purchase date: 11/24/03
Size: 4 beds, 3 baths, 2,400 sq ft (built in 1990)
MLS: U8001604 (62 days on Redfin)
ZipRealty price tracker: Price Reduced: 5/22/08 -- $714,900 to $689,900
Zillow Zestimate: $835,500
Type: Single Family Residence
Style: Cape Cod, Traditional
Stories: 2 Levels
Lot size: 6,270 sq ft
From listing: Beautiful 4 bedroom pool home with view located in Dove Canyon. Open bright floor plan, Pool Spa, Gated community!
The photos and description leave something to be desired. It will be interesting to see how low the bank will go - and how quickly it will continue the price cuts, if at all.
Either way, this is not good for two other properties on the same street: 32 Muirfield has the same number of bedrooms and bathrooms, but is larger. Asking price is $720,000, and it has been on the market for a while. And, 1 Muirfield comes in with a crazy-high price tag of $889,900, despite the fact that it's smaller and has one fewer bedroom than our subject property. Market time is about a month and a half.
After purchasing the subject property with 85% ($594,150) financing five years ago, the previous owner re-fied into an $807,500 adjustable loan in 2005.
That effectively liberated the downpayment and then some. Oops. The property eventually went back to the bank in February for $706,500 and is currently held by Deutsche Bank.
Two months on the MLS as an REO has not yet yielded a willing and able buyer, but it certainly has produced a 2003 rollback.
Friday, June 06, 2008
(Another) Dove Canyon REO/rollback
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4 comments:
Nice exterior. If I needed to buy a primary residence. I'd consider lowballing it. I noticed the price the owner paid for it in 2003 was too high. If I recall, at that time a 2400sf somewhat new home should have fetched in the low $600K. Thanks for the post - it's getting better every day.
Keep those 2003 rollbacks comin'!
what an ugly home
Nice photo of the garage.
Is the real estate agent so lazy that they couldn't be bothered to turn the doorknob and get some photos inside the house once they had pressed the garage remote control to photograph the garage?
Or did the former homedebtors trash the interior and sell the appliances on craigslist?
(FreedomCM)
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