'02 rollback Friday

Photo: Washington Mutual Tower in Seattle

Credit: deepblueday

Here are two San Juan Capistrano properties that are 2002 rollbacks. As we've seen so far in this mess, the lower end typically leads the way in terms of pricing, and the higher-end homes tend to eventually follow the same trend.

Obviously, some areas will not fall as far in value as others - but the question is, will 2002 rollbacks become the norm across the board? We have already begun to notice 2003 pricing has become significantly more common in most parts.

On to the brief snapshot of today's subjects:

Property No. 1
27581 Starrise Ln, 92675
Asking price: $300,000
Asking price/ sq ft: $225
Purchase price: $300,000
Purchase date: 10/24/02
Size: 3 beds, 2 baths, 1,332 sq ft (built in 1973)
MLS: S546351 (22 days on Redfin)
Status: Backup Offers Accepted
From listing: Beautiful End Unit Townhome in Desireable area of San Juan Capistrano. Walking distance to Elementary School, Golf Course and Shops. Remodeled kitchen with granite countertops, marble floors. You have to see it!!

Property No. 2
29596 Fairglen Ct, 92675
Asking price: $264,000
Asking price/ sq ft: $246
Purchase price: $432,000
Purchase date: 3/10/05
2002 purchase price: $267,000
Size: 3 beds, 2 baths, 1,071 sq ft (built in 1972)
MLS:S529250 (161 days on Redfin)
Status: Active
From listing: This is a well taken care of HOME from a proud owner with subtle upgrades where hills are to the rear of property. Very private. Very clean, and spacious Living Room. Inside laundry. One car garage with an assigned parking stall adjacent to the garage. Direct garage access into the kitchen. Very roomy!