The bank is ready to deal on this apartment-like condo in Mission Viejo. Think there will be a taker or two for this short sale property considering it's priced below the 2001 sales price?
26398 Via Roble #12, 92691
Asking price: $160,000
Asking price/ sq ft: $170
Purchase price: $168,500
Purchase date: 9/25/01
Size: 2 beds, 1 bath, 943 sq ft (built in 1973)
MLS: S527418 (404 days on Redfin)
ZipRealty price tracker: Price Reduced: 06/10/08 -- $350,000 to $180,000
Price Increased: 03/26/09 -- $180,000 to $200,000
Price Reduced: 04/07/09 -- $200,000 to $180,000
Price Reduced: 04/30/09 -- $180,000 to $160,000
Zillow Zestimate: $201,500
HOA dues: $328
Type: Condominium
Stories: 1
From listing: FINALLY.... BANK IS READY FOR OFFERS! Spacious living room has lots of sunny windows, master bedroom is oversized with walk-in closet, inside laundry. Large Patio area, internal tract location.
Can you believe properties in this complex were selling for more than $350,000 in 2005?
Sorry folks, no second photo. So, it seems, after more than a year on the market, the bank is ready to deal. We're not sure what the original financing was on this property, but we do know there is a $294,000 loan outstanding against it that was taken out in 2006. It's delinquent, and the notice of default was filed in March.
The property originally came onto the market asking $350,000 in 2008. Again, very predictable - that was likely the entire loan balance, plus perhaps just a bit extra. The condo came on and off the market more times than we feel like counting, and total discount off the original asking price stands at $190,000, or 54%.
Tuesday, May 12, 2009
'01 rollback in Mission
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1 comments:
This complex has a huge parking problem and there is a LOT of resident anger towards the HOA board and the security company they contract with. If you could buy this at 5% with 20% down on a 30-year fixed, your payment would be $697. Plus HOA of $328 puts you at $1025 monthly before taxes. Are taxes calculated at a flat 1%? I can't remember just now. That's below any of the rents I know of in that complex, but the only way this place is attractive (IMHO) is as a rental unit.
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