What would you think of a Ladera Ranch REO priced 1/3 off the 2004 sales price? Would you like to throw your hat into the ring of the "buying frenzy" we're seeing?
44 La Salle, 92694
Asking price: $529,650
| Beds: | 4 |
| Baths: | 3 |
| Sq. Ft.: | 2,300 |
| $/Sq. Ft.: | $230 |
| Lot Size: | 3,496 Sq. Ft. |
| Property Type: | Single Family Residence |
| Style: | Contemporary |
| Stories: | 2 |
| Year Built: | 2003 |
| Community: | Ladera Ranch |
| County: | Orange |
| MLS#: | S586792 |
| Source: | SoCalMLS |
| Status: | Active |
| On Redfin: | 1 day |
What more is there to say? We've got an REO that can be sold for $230/sq ft in South OC. It's possible, of course, that the sales price will be above that. The mello roos total about $3,600 per year, or $306 per month. That's before HOA dues, property taxes and insurance.This house went back to the bank in July for just around the asking price now. The previous "organic" sale was in 2004 for $785,000. That translates to about $341/sq ft.
Assuming the house will be sold for the full asking price - though of course it could go for higher since it's an REO and those are hot, hot hot! - it would be a decline of about $255,000, or 33% from the 2004 value.
4 comments:
Still too high. I didn't realize the mello roos was so high in LR. It's the equivalent to roughly an additional $50K added to the price. Definite deal killer.
No Thanks. 1/2 a million for Ladera? +Mello Roos?!?
I'll wait.
What's up with these crappy little south OC lots? 3500 sqft lot is an insult. Who buys houses with such small lots? It seems odd to reward a developer for such bad behavior.
Location, location, location. This is a $275,000 house when this debacle gets through playing out.
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