We recently chronicled a few properties whose prices made us scratch our heads. Today, we're going to turn it around and mention a couple properties we think are priced well - relative to today's local real estate landscape. Whether the properties can actually sell at the current asking prices is a whole other matter.
To figure out where things stand, we'll look at comparable properties for rent and see how they stack up. These back-of-the-napkin calculations also assume the current rental asking price is a legitimate barometer of the home's rental value. In many times, rental asking prices are wishing prices too!
48 Allenwood Lane, Aliso Viejo 92656
Asking price: $225,000 (short sale)
Size: 3 beds, 2 baths, 1,200 sq ft
Previous sales price: $402,000
Previous sales date: 8/12/04
Nearby rental asking price: $1,850 - 135 Abbeywood Lane
Projected value based on GRM of 160: $296,000
6 Tesoro, San Clemente 92673
Asking price: $788,900
Size: 5 beds, 3.5 baths, 4,300 sq ft
Previous sales price: $847,130 (REO)
Previous sales date: 4/7/09
Nearby rental asking price: $5,400 - 31 Via Nerisa
Projected value: $864,000
54 Gavilan #1, RSM 92688
Asking price: $149,999 (short sale)
Size: 2 beds, 1 bath 882 sq ft
Previous sales price: $150,000 - '01 rollback
Previous sales date: 11/16/01
Nearby rental asking price: $1,500 - 24 Gavilan #179
Projected value: $240,000
Thursday, August 06, 2009
Rent or buy?
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3 comments:
Is 6 Tesoro in SC the home where the murder/suicide of the entire family occurred last fall?
No. I believe the family you're referring to lived on Campanilla.
That Campanilla home sold quickly many months ago. It was way underpriced compared to the other homes around it, and went quick.
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