"Moderately Confused" by Jeff Stahler
Another week, and unfortunately more..bad...news. Sucktastic. Well, here's some recent home listings, in case that sort of thing cheers you up.
6 Vermilion Clfs, Aliso Viejo, 92656
Asking price: $1,275,000
Previous sales price: $1,550,000
Previous sales date: 5/17/05
Size: 4 beds, 2.75 baths, 3,000 sq ft
Listing description snippet: "Simply Phenomenal is the best way to describe this Mini Estate. Panoramic Rolling Hills View, Cull-de-sac Location in a Gated Community, and Great Seller Financing available."
Our comment: This property is not listed as a short sale, and there is seller financing available? Wow, must be nice to be these owners. Assuming a sale for the current asking price, it would be $275,000, or 18% below the 2005 price.
25282 Northrup St, Laguna Hills, 92653
Asking price: $559,000
Previous sales price: $710,000
Previous sales date: 11/4/05
Size: 4 beds, 3 baths, 2,100 sq ft
Listing description snippet: "Beautiful Large Home, on a Large Lot, w shade trees!! Great Neighborhood, This is a must see!! Seller has Totally Upgraded the guest Baths including Granite countertops"
Our comment: This photo is from the old 2005 listing. The whole description is one excruciating run-on, title-case littered sentence. This is not listed as a short sale, and it is not showing up as a preforeclosure on ForeclosureRadar, but there are 3 others on this street that are in some stage of the process.
30 Bedstraw Loop, Ladera Ranch, 92694
Asking price: $700,000
Previous sales price: $918,500
Previous sales date: 12/27/04
Size: 4 beds, 3 baths (with a bidet!), 2,736 sq ft
Listing description snippet: (None)
Our comment: This property is a preforeclosure. The current owners used a 30% downpayment to buy this property new from Pulte Homes. Then, they refinanced into an $824,000 (90% of purchase price) loan in mid-2006. They still stand to lose a good chunk of change if this house sells. So will the lender.
34151 Camino El Molino, Dana Point, 92624
Asking price: $999,000
Previous sales price: $982,000
Previous sales date: 2/11/05
Size: 7 beds, 5.25 baths, 4,000 sq ft
Listing description snippet: "IF YOU LIKE TO ENTERTAIN AND OR YOU HAVE EXTENDED FAMILY......THIS IS IT. FROM THE MOMENT YOU ENTER THROUGH THE GATED COURT YARD...YOU FIND A SELF CONTAINED CRAFTSMEN STYLE CASITA WITH SHOWER AND TOILET AND SLEEPING LOFT."
Our comment: The property is set at a wishing price $17,000 above the 2005 bubble price and $274,000 higher than the 2004 sales price. And, it's a short sale. This probably won't end well.
6 Vermilion Clfs, Aliso Viejo, 92656Asking price: $1,275,000
Previous sales price: $1,550,000
Previous sales date: 5/17/05
Size: 4 beds, 2.75 baths, 3,000 sq ft
Listing description snippet: "Simply Phenomenal is the best way to describe this Mini Estate. Panoramic Rolling Hills View, Cull-de-sac Location in a Gated Community, and Great Seller Financing available."
Our comment: This property is not listed as a short sale, and there is seller financing available? Wow, must be nice to be these owners. Assuming a sale for the current asking price, it would be $275,000, or 18% below the 2005 price.
25282 Northrup St, Laguna Hills, 92653Asking price: $559,000
Previous sales price: $710,000
Previous sales date: 11/4/05
Size: 4 beds, 3 baths, 2,100 sq ft
Listing description snippet: "Beautiful Large Home, on a Large Lot, w shade trees!! Great Neighborhood, This is a must see!! Seller has Totally Upgraded the guest Baths including Granite countertops"
Our comment: This photo is from the old 2005 listing. The whole description is one excruciating run-on, title-case littered sentence. This is not listed as a short sale, and it is not showing up as a preforeclosure on ForeclosureRadar, but there are 3 others on this street that are in some stage of the process.
30 Bedstraw Loop, Ladera Ranch, 92694Asking price: $700,000
Previous sales price: $918,500
Previous sales date: 12/27/04
Size: 4 beds, 3 baths (with a bidet!), 2,736 sq ft
Listing description snippet: (None)
Our comment: This property is a preforeclosure. The current owners used a 30% downpayment to buy this property new from Pulte Homes. Then, they refinanced into an $824,000 (90% of purchase price) loan in mid-2006. They still stand to lose a good chunk of change if this house sells. So will the lender.
34151 Camino El Molino, Dana Point, 92624Asking price: $999,000
Previous sales price: $982,000
Previous sales date: 2/11/05
Size: 7 beds, 5.25 baths, 4,000 sq ft
Listing description snippet: "IF YOU LIKE TO ENTERTAIN AND OR YOU HAVE EXTENDED FAMILY......THIS IS IT. FROM THE MOMENT YOU ENTER THROUGH THE GATED COURT YARD...YOU FIND A SELF CONTAINED CRAFTSMEN STYLE CASITA WITH SHOWER AND TOILET AND SLEEPING LOFT."
Our comment: The property is set at a wishing price $17,000 above the 2005 bubble price and $274,000 higher than the 2004 sales price. And, it's a short sale. This probably won't end well.
2 comments:
I love the unique and eclectic vibe of Capistrano Beach, but some of the locations just suck.
Unfortunately that's the case for the El Molino house. Beautiful house (in person too, I have often seen it from the outside). But the location bites. It's right up against the 5 Freeway -- you can even see glimpses of the sound wall in one of the photos.
So many of the houses in that neighborhood are like that. Totally overbuilt for the location.
I agree. For a million dollars you would not choose this street unless you love the sight of boats and RVs parked in nearly every driveway. This neighborhood shows the "downside" of no HOA rules.
Post a Comment