This San Juan Capistrano property is now for sale for asking below what it went for as a new home back in 2003. We wonder: If you could go back to 2006 - when this property last changed hands - to ask someone which they thought would be less possible: prevalent 2003 rollbacks in South OC real estate, or the Tampa Bay Rays (then Devil Rays) in the World Series, what would they say?
Both of these scenarios are now reality.
26262 Via Corrizo, 92675
Asking price: $495,000
Asking price/ sq ft: n/a
Purchase price: $750,000
Purchase date: 3/7/06
Size: 3 beds, 2.5 baths (built in 2003)
MLS: H08114027 (74 days on Redfin)
Zillow Zestimate: $634,500
HOA dues: $65
Type: Single Family Residence
Stories: 2 Level
From listing: Gated community. .minutes from the beach with mountain view from front porch. .. new hardwood floors. dark cabinetry with granite counters and plenty of cabinets. .. professionally upgraded landscaping. .long driveway. .This is a short pay situation
Customized financial info:
Minimum Income Requirement (using 30Y Fixed): $104,000, assumes no other debt/obligations.
Downpayment needed: $17,325
Monthly Payment on 30Y Fixed at 6.25% with property taxes and mortgage insurance estimated: $3,663.40
Minimum Income Requirement (using 5Y fixed): $99,600, assumes no other debt/obligations.
Monthly Payment on 5Y fixed at 5.80% with property taxes and mortgage insurance estimated: $3,524.64
Disclosure: All rates offered to the client with 1 point cost. Rate quotes assume a purchase transaction with the required minimum down payment, 720 credit score, full income qualification and required reserves. Rates are subject to fluctuation. Custom rate quotes and rate lock advice are available by visiting www.thegreatloan.com.
Looks like an artificially low asking price to us considering 26272 Via Corrizo, which is up for sale for $617,500. ForeclosureRadar says that one is an REO that went back to the bank for $682,166 in July. This other property has two more bedrooms and is larger, but it is bank owned.
If the subject property can be sold for the full asking price, it would mean a loss of $284,700 off the previous sales price, including 6% sales costs. It also would be a decline of 34%, not including sales costs.
Monday, October 20, 2008
Another '03 rollback in San Juan
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4 comments:
2002.rollbacks soon.
when I looked at it the neigborhood was full of life. Kids working on cars, tattooed people accross the stree. (Not that there is anything wrong with that.) Workers comming home. No parking.
Still a good value for anyone looking. Lots of sq. ft.
That neighborhood may be full of young families, but it's the worst location in the area. Down in the valley, nestled between the hills and the railroad tracks and the 5 freeway. I looked at houses there a while ago, and individually they are very nice. But the location... awful.
I looked at the models when they were new. They had a nice one-story plan that I loved. Too close to the railroad tracks, though.
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