Here we go again - today we're featuring a handful of interesting South OC properties to hit the market in the past week.
2 Citrus, Ladera Ranch, 92694
Asking price: $780,000
Size: 4 beds, 3.5 baths, 3,271 sq ft
Previous sales price: $1,152,000
Previous purchase date: 10/28/04
Listing description snippet: "Dazzling luxury home on end of cul-de-sac in prestigious Ladera Ranch. AN AFFORDABLE ALTERNATIVE TO COVENANT HILLS!!! "
Our comment: This is a major league short sale. The current owners used a $117,000 downpayment to buy this home, and now there is about $1.2 million worth of debt on the property. It's scheduled to be auctioned today in Placentia. The asking price is $372,000, or 32% below the 2004 price. The crazy thing is this could actually be its real market value.
1935 Glenneyre St, Laguna Beach, 92651
Asking price: $983,000
Size: 2 beds, 1 bath
Previous sales price: $1,059,000
Previous purchase date: 7/6/06
Listing description snippet: "Zen like single level cottage with ocean views for less then $1m in sought after Woods Cove/Village area. ... 2004 pricing."
Our comment: The 2004 pricing in the description references a sales price of $995,000 that March. Redfin also says this property sold for $649,000 in 2003.
28301 Camino La Ronda, SJC, 92675
Asking price: $1,495,000
Size: 5 beds, 4 baths, 3,540 sq ft
Previous sales price: $1,725,000
Previous purchase date: 4/16/06
Listing description snippet: "...Pool! Party! Play! This Home offers the ultimate backyard.Seperate bar and bar-be-que area,Lanai has outdoor fireplace and T.V. "
Our comment: This property is not listed as a short sale, so it's possible the current owner is going to take a huge hit if it sells. The total loss to the owner and/or bank would be in excess of $300,000.
4 Poppy Hills Road, Laguna Niguel, 92677
Asking price: $3,350,000
Size: 5 beds, 5 baths, 6,200 sq ft
Previous sales price: $500,000 (the lot)
Previous purchase date: 1/27/00
Listing description snippet: "Recently built Ocean Ranch Custom Estate being offered by original Owner. ... Features include formal dining room, gourmet kitchen with full Viking appliance package, library, family room, wine cellar and 4 car garage."
Our comment: Not too shabby for $3.35 million. Unfortunately, the expected market time for a property like this is really long. And we mean really.
5322 W Bahia Blanca #B, Laguna Woods, 92637
Asking price: $174,900
Size: 2 beds, 1.75 baths, 1,080 sq ft
Previous sales price: $140,989
Previous purchase date: 7/23/08
Listing description snippet: "Just-completed remodel includes; new interior paint, all new cabinets, granite counters, sinks and faucets, all new floor tiles, new toilets, mirrors and medicine cabinets, all new electrical outlets and switches, and a new side-by-side refrigerator with icemaker"
Our comment: An attempted flip? In Laguna Woods? Sure looks like it!
Friday, January 09, 2009
Friday listings dump
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1 comments:
Wow on the Laguna Woods condo. You'd think if someone was flipping in Leisure World they'd make the place more elderly friendly. The drop-in stove is a big mistake - there should be a separate mid-height oven and a cooktop that's dropped at least 6 inches lower than normal. A microwave over the cooktop? Can you just picture your elderly mom reaching overhead to get something hot out of the microwave? And why isn't that toilet comfort height and why is there a tub to step over? I'd love to get into that place and point out the obvious items that are not user friendly to the elderly. I bet I wouldn't find a 36" wide door in the place
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