Keep dreaming in San Clemente

Did you know the recession's over (says Merrill Lynch)? Did you also know home prices are on the rebound (at least they are on the newest DataQuick report)? Is it time to party that happy days have returned?

We hate to be pessimistic because we're naturally optimistic - believe it - but from where we stand on the ground level of Main Street, Orange County (not at Disneyland, though wish we were there) things here aren't getting much better. Not when the county's largest employer is getting ready to dock its employees' salaries varying degrees through furlough days. State workers are also earning and spending less. And, let's not forget the state government itself is...well...we'd like to think things will improve soon, but we're just not seeing it - not any kind of speedy recovery that is.

On that happy note, here's today's property, in San Clemente. The asking price is likely wishful thinking as well.

222 Calle Roca Vis, 92672
Asking price: $1,895,000
Asking price/ sq ft: $657
Purchase price: $1,560,000
Purchase date: 8/16/04
Size: 4 beds, 3 baths, 2,886 sq ft (built in 1978)
MLS: L29193 (117 days on Redfin)
ZipRealty price tracker: Price Increased: 03/25/09 -- $1,970,000 to $1,975,000
Price Reduced: 04/14/09 -- $1,975,000 to $1,970,000
Price Reduced: 04/29/09 -- $1,970,000 to $1,895,000
Type: Single Family Residence
Style: Spanish
Stories: 2
Lot size: 5,975 Sq. Ft.
From listing: One of a kind ocean view home conveniently located in the desirable neighborhood of SW San Clemente. Located just steps away from San Clemente's beautiful own Lost Winds Beach and Leslie Park. Unobstructed and stunning ocean, Catalina, San Clemente pier, Dana Point Harbor and coastline views from roof top deck. Walking distance to restaurants, shopping, and the pier. Ocean views from most rooms. Large street to street lot with endless possibilities. 3-car garage. Turnkey floor plan. Rests only four homes from the Water. A MUST SEE!

Whoops...the original asking price was just too low! Good thing it was adjusted up by $5,000, only to be later dropped to where it originally was, and then again below that.

As it stands, the asking price is $335,000 above the 2004 price. It's probably not realistic, but who knows - maybe someone will want to live in a house that "rests" only four homes from the water, so they will step up. Until then though, this place will just sit and wait.