Reality Check by Dave WhamondLet's see what's new to the market this week...
27556 Country Lane, Laguna Niguel, 92677
Asking price: $799,900-$839,900
Size: 3 beds, 3 baths, 2,483 sq ft
Previous sales price: $947,500
Previous sales date: 12/21/07
Listing description snippet: "Interior, Crema Mar Fil Marble flooring through out ground level,Dark Expresso maple kitchen cabinets with rare marble counters, stainless stell appliances/matching dark expresso floor moulding/separate kitchen dining nook with pantry cabinets/new paint/grand spiral staircase."
Our comment: "Expresso"? The only thing swift here is the depreciation. A sale at this price could be about 16% below last year's price.
29 Karam Ct, Coto, 92679
Asking price: $1,800,000
Size: 4 beds, 4.5 baths, 4,400 sq ft
Previous sales price: $855,500
Previous sales date: 6/29/01
Listing description snippet: "From the meandering driveway to the entertainers backyard, you'll feel like your on vacation n your own home. "
Our comment: The psychedelic backyard lighting on display in the photo sold us. We're negotiating a deal as we speak.
715 Avenida Columbo, San Clemente, 92672
Asking price: $229,000
Size: 3 beds, 2 baths, 1,480 sq ft
Previous sales price: $729,482
Previous sales date: 6/29/08
Listing description snippet: "PANORAMIC OCEAN VIEW HOME! The lot needs geological work. Home needs structural work and cosmetics throughout. Yellow tagged by the city. MUST USE EXTREME CAUTION WHEN SHOWING."
Our comment: You must check out the photos of this property. Our two cents: Any time property photos include lots of caution tape a gaping hole in the ground and the words "geological work" (a trifecta!), we would recommend staying far, far away.
26544 Calle San Francisco #22b, San Juan, 92675
Asking price: $149,900
Size: 2 beds, 2 baths, 897 sq ft
Bank sales price: $138,600
Sales date: 7/10/08
Listing description snippet: "Great opportunity for first time buyers and Investor, looking for potential rental income, to own a cozy two story condo with its own private patio area..."
Our comment: We suspect this property might be close to - if not at - rental parity. What we do know is that this asking price is 57% off the 2005 price of $350,000.
24912 Rollingwood Rd, Lake Forest, 92630
Asking price: $685,000
Size: 4 beds, 2 baths, 2,500 sq ft
Previous sales price: $559,000
Previous sales date: 1/5/04
Listing description snippet: "Approx.$155,000 of upgrades include: 100% dual pane windows, upgraded kitchen w/granite & custom center island, remodeled master bath w/ granite, custom paint inside & out, tankless water heater, & much more"
Our comment: $126,000 above the 2004 price? Next.
27556 Country Lane, Laguna Niguel, 92677Asking price: $799,900-$839,900
Size: 3 beds, 3 baths, 2,483 sq ft
Previous sales price: $947,500
Previous sales date: 12/21/07
Listing description snippet: "Interior, Crema Mar Fil Marble flooring through out ground level,Dark Expresso maple kitchen cabinets with rare marble counters, stainless stell appliances/matching dark expresso floor moulding/separate kitchen dining nook with pantry cabinets/new paint/grand spiral staircase."
Our comment: "Expresso"? The only thing swift here is the depreciation. A sale at this price could be about 16% below last year's price.
29 Karam Ct, Coto, 92679
Asking price: $1,800,000
Size: 4 beds, 4.5 baths, 4,400 sq ft
Previous sales price: $855,500
Previous sales date: 6/29/01
Listing description snippet: "From the meandering driveway to the entertainers backyard, you'll feel like your on vacation n your own home. "
Our comment: The psychedelic backyard lighting on display in the photo sold us. We're negotiating a deal as we speak.
715 Avenida Columbo, San Clemente, 92672Asking price: $229,000
Size: 3 beds, 2 baths, 1,480 sq ft
Previous sales price: $729,482
Previous sales date: 6/29/08
Listing description snippet: "PANORAMIC OCEAN VIEW HOME! The lot needs geological work. Home needs structural work and cosmetics throughout. Yellow tagged by the city. MUST USE EXTREME CAUTION WHEN SHOWING."
Our comment: You must check out the photos of this property. Our two cents: Any time property photos include lots of caution tape a gaping hole in the ground and the words "geological work" (a trifecta!), we would recommend staying far, far away.
26544 Calle San Francisco #22b, San Juan, 92675
Asking price: $149,900
Size: 2 beds, 2 baths, 897 sq ft
Bank sales price: $138,600
Sales date: 7/10/08
Listing description snippet: "Great opportunity for first time buyers and Investor, looking for potential rental income, to own a cozy two story condo with its own private patio area..."
Our comment: We suspect this property might be close to - if not at - rental parity. What we do know is that this asking price is 57% off the 2005 price of $350,000.
24912 Rollingwood Rd, Lake Forest, 92630Asking price: $685,000
Size: 4 beds, 2 baths, 2,500 sq ft
Previous sales price: $559,000
Previous sales date: 1/5/04
Listing description snippet: "Approx.$155,000 of upgrades include: 100% dual pane windows, upgraded kitchen w/granite & custom center island, remodeled master bath w/ granite, custom paint inside & out, tankless water heater, & much more"
Our comment: $126,000 above the 2004 price? Next.
6 comments:
The Coto property listing agent is "Real Housewives of OC" star (and Playboy centerfold) Jeana Keough!
How could I have missed that?!?
wow. that San Clemente listing is pretty amazing. about the only way i'll ever afford an ocean view. ;)
Why would anyone in their right mind buy a home in which the land itself will shortly disappear? Will "I didn't know, can I get my money back?" work here?
Yeah, that San Clemente lot was over 9000 square feet, but it was all along the eroded hillside. I guess that's what happens to houses that fall down the hill -- they try to give them away.
Imagine trying to get homeowners insurance on that property!
Here's one you must see
http://www.paseoelegancia.com/template/site/index.php?siteno=47
I love the 1 car garage.
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