We're back again with a sampling of recent South Orange County sales. Happy Friday!
26631 Lope De Vega Dr, Mission, 92691
Sales price: $450,000
Last asking price: $510,000
Sold date: 2/2/09
Size: 3 beds, 2 baths, 1,561 sq ft
Previous sales price: $462,500 (back to bank)
Previous sales date: 10/9/08
Our comment: Zillow says this house sold for $680,000 during the bubble. The latest sale was for 34% off that amount.
1855 Glenneyre St , Laguna Beach, 92651
Sales price: $1,310,000
Last asking price: $1,485,000
Sold date: 1/30/09
Size: 3 beds, 2.75 baths, 1,680 sq ft
Previous sales price: $286,000
Previous sales date: 12/18/96
Our comment: This property sold for 85% of its original asking price ($1,549,000). Still, unless there was some distress we don't know about, it seems the now-previous owner made out very nicely.
24972 Stagecoach Dr, Laguna Hills, 92653
Sales price: $410,000
Last asking price: $390,000
Sold date: 1/30/09
Size: 3 beds, 2 baths, 1,325 sq ft
Previous sales price: $530,000
Previous sales date: 3/08/05
Our comment: Judging by the last asking price, it appears this property spurred a bit of a bidding war. The sales price puts it 23% below the previous '05 price.
27051 Calle Juanita, Dana Point, 92694
Sales price: $405,000
Last asking price: $ 484,900
Sold date: 2/3/09
Size: 4 beds, 2.5 baths, 2,421 sq ft
Previous sales price: $552,500 (bank)
Previous sales date: 9/12/08
Our comment: Zillow says this house sold for $650,000 in 2004. As a fixer in 2009, it went for 38% less.
Friday, February 06, 2009
Friday sales report
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8 comments:
I would be curious to know if the Dana Point home had geo or structural issues or not. If it checked out with a full inspection then that was a deal of a price.
I agree. I'm skeptical considering how much below the asking price it sold for. Perhaps the house was really trashed or vandalized; we'll never know since there aren't internal photos.
Here are the comments from the MLS: "This is a bank owned foreclosure sold in its present condition w/no warranties of any kind... Due to the amount of necessary repairs, financing may be difficult.Cash offers are requested...Seller has requested no lockbox due to safety issues at the property."
Thanks Anonymous 2:22 pm your access to those MLS comments explains a lot. This was probably pretty trashed or stucturely unsafe to have those kind of comments. There is a house in San Clemente that has half of the backyard missing and the house is ready to slide off the cliff too. Real bargain. Not.
Bird's eye view suggests it is not due to erosional structural issues.
Check out the huge price declines in Laguna, NC and CDM......
www.bluemove.blogspot.com
Thanks for clearing that up.
Glad to help out. I'm in the commercial side of the business and I think it is unconscionable that ignorant agents are the gatekeepers of information (e.g., MLS). The whole system of residential real estate needs an overhaul. The great work that South OC Real Estate Tracker does will hopefully speed up that overhaul.
Anonymous 2:22
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