Are we becoming too jaded at the state of South OC real estate? Perhaps. These properties - significant rollbacks - all are up for sale at discounts off their previous purchase prices. A year ago, the magnitude of some of these declines would have warranted notice.
Now, they're just some of many.
22661 Brookhaven, Lake Forest
Asking price: $479,000
Previous sales price: $800,000
Previous sales date: 9/25/06
Discount (not incl sales costs): 40%
29582 Pelican Way, Laguna Niguel
Asking price: $325,000
Previous sales price: $495,000
Previous sales date: 9/28/05
Discount (not incl sales costs): 34%
*Preforeclosure
27098 Pacific Terrace Dr, 92692
Asking price: $689,900
Previous sales price: $875,000
Previous sales date: 7/6/04
Discount (not incl sales costs): 21%
*Foreclosure
44 Tavella Pl, Foothill Ranch
Asking price: $585,000
Previous sales price: $770,000
Previous sales date: 12/15/05
Discount (not incl sales costs): 24%
*Short sale
61 Promontory Park, Aliso Viejo
Asking price: $274,900
Previous sales price: $438,000
Previous sales date: 5/12/05
Discount (not incl sales costs): 37%
*REO
Photo credit: Steffe
Tuesday, September 16, 2008
Yawn...
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7 comments:
The one on Pelican Way has hefty HOA fees ($350). That is equivalent to adding $50K to the mortgage. It's an old home. Can't imagine what the repair bills would be like. I would buy at at $200K. Maybe.
Love the picture of the cat yawning. It's definitely how I feel -- more of the same.
I get restless waiting to see properties come back into line with incomes, and I'm amazed that some people are buying now. My family has outgrown our condo, but can't move up until prices come down. Let's get moving!
Hi
There are a better knowledge about real estate for us.
Hi
A better informations for real estate agents, buyer and sellers.
The question that keeps circling around my brain is "WTF? How could people leverage themselves to the hilt like this and go on with life without any thought about what they're doing?"
To anon, 10:18
People screwed themselves because everyone was saying it was the right thing to do. In 2006 my family was growing, and we were looking at bigger houses in 2006. I asked lots of people -- family, people that had lived in OC for most of their lives, realtors (okay, that was a bad idea, but they seemed like a good resource at the time) -- how to afford the next step up, and they all said, "Get a bigger mortgage."
Even the people that weren't saying that would shrug and say, "It's just expensive to live out here." Some of these people are highly educated. But there wasn't a clear recognition of what was going on.
I only wanted a 30 year fixed mortgage, and so we didn't buy. We are glad now, but at the time people (even family) told us we were letting ourselves be priced out. This whole thing was insane.
Hi
The information of real estate are so good for real estate agents, buyers and sellers.
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