Friday listings dump

Here's a sampling of some South OC properties that have hit the market in the past week.

26051 Glen Canyon Dr, Laguna Hills, 92653
Asking price: $1,999,500
Previous sales price: $1,310,000
Previous sales date: 10/15/99
Size: 4 beds, 4.5 baths, 5,262 sq ft
Listing price snippet: "The spacious family room has a brick fireplace and a walk-behind wet bar.Gourmet center island kitchen features stainless appliances, built-in refrigerator, rich wood floors and cabinetry with marble countertops and breakfast nook that opens to a sun room with rear yard access."
Our comment: Want to buy in Nellie Gail? Expect to continue to pay a premium. With the current asking price, the owner is hoping to see 53% cumulative appreciation over a decade.

22596 Killy St, Lake Forest, 92630
Asking price: $390,000
Previous sales price: $615,000
Previous sales date: 6/23/05
Size: 3 beds, 2 baths, 1,250 sq ft
Listing price snippet: "This Home is a Short Sale but is very clean and neutral colors. Custom Front Door, Tile Entry, Vaulted Ceilings in Living Room with Fireplace. Open Vaulted Ceiling in Kitchen with White Cabinets and Black Appliances."
Our comment: Redfin says this property went for $525,000 in 2004 and then $615,000 in 2006. Now, it's offered for sale yet again but this time as a short sale. Total discount off the peak price is $225,000 or 37%.


25352 Westborne Dr, Dana Point, 92629
Asking price: $579,900
Previous sales price: $481,500
Previous sales date: 2/17/09
Size: 3 beds, 2 baths, 1,639 sq ft
Listing price snippet: "Large manicured yard with fruit trees and long paver driveway. Brand new roof and appliances, remodeled kitchen and baths with grantite countertops and travertine tile, newer windows, crown molding, fireplace, and hard wood flooring thoughout."
Our comment: This listing doesn't say bank owned, so we're thinking this is a flip that an investor picked up at auction and is looking to turn for a profit. Who else would remodel with granite, travertine and new appliances?