Yesterday we had a third-chance property in Laguna Niguel, so today we're looking at an REO in Coto that is recently back on the market. A buyer was found in late September but the property fell out of escrow. And, obviously things have deteriorated further since then.
Is there another waiting in the wings to take this house?
23471 Via Alondra, 92679
Asking price: $598,900
Asking price/ sq ft: $240
Bank purchase price: $750,000
Purchase date: 6/8/08
Size: 3 beds, 2.5 baths, 2,494 sq ft (built in 1980)
MLS: U8003530 (134 days on Redfin)
ZipRealty price tracker: Price Reduced: 09/09/08 -- $654,500 to $614,500
Price Reduced: 10/31/08 -- $614,500 to $598,900
HOA dues: $70
Type: Single Family Residence
Style: Ranch, Rustic
Stories: 3+
Lot size: 5,940 Sq. Ft.
From listing: FELL OUT OF ESCROW! REDUCED! Bank is motivated! Make an offer. Amazing views and privacy in Coto de Caza. Heavy security in the guard gated community. Equestrian facilities, tennis, pools, golf and amazing additional amenities. Very rural location. Private road. Gorgeous pastoral views with greenbelts and trees. Three levels. A few decks. 2 car garage. Indoor laundry. Great closet organizer in Master. Additional bonus room area by two extra bedrooms. Needs updating. Bank owned property.
The description says the bank is motivated, yet the price has not been reduced since late October.
This property - from the outside in - is not our idea of a dream home. It's a bit too rustic for our taste. But that's OK...surely there is someone out there who will fall in love with this property? Price probably has something to do with it.
Speaking of price, this house went for $990,000 in 2004 - at least that's what Redfin says. That would have been $397 per square foot. Now, the asking price is down $391,100, or 40% below that previous non-bank sales price.
Thursday, December 18, 2008
Second chance in Coto
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3 comments:
It has 0 curb appeal.
I find much to like about it. But the lot is too small and the interior mostly screams "1980's remodel." And with an annual income of $120k, I still feel we can't afford it. Oh well.
Very nice avante guard style home.
No traditional warmth, but well done for what it represents.
Thought about purchasing for 15 minutes, until we looked at a great home in the neighborhood for the same price.
Some one will like the home and the barking dog next door.
"Bear in the House"
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