What's so special about this Mission Viejo condo? Nothing, really. It's one of many properties in the area that are headed to escrow. But its price is something to marvel at - we're looking at almost a 2000 rollback.
25865 Marguerite Pkwy #5202, 92692
Asking price: $169,000
| Beds: | 2 |
| Baths: | 2 |
| Sq. Ft.: | 1,040 |
| $/Sq. Ft.: | $162 |
| Lot Size: | - |
| Property Type: | Condominium |
| Style: | Contemporary |
| Stories: | 1 |
| Floor: | 3 |
| View: | Fields, Golf Course, Greenbelt, Treetop |
| Year Built: | 1970 |
| Community: | Mission Viejo South |
| County: | Orange |
| MLS#: | S583722 |
| Source: | SoCalMLS |
| Status: | Backup Offers Accepted |
| On Redfin: | 45 days |
Previous sales date: 9/7/00
From listing: One of the lowest price areas in Mission Viejo. This 2 bedroom, 2 bath condo is an upper unit with vaulted ceiling located in a great location of Casa Loma. There is a beautiful view off of the balcony of the trees and Mission Viejo Country Club Golf Coarse. This is a great location for shopping and freeway access, featuring a community pool and washer and dryer facilities. Affordablity and the safest city in the nation
Would be nice if they could spell "affordability" properly, but hey, nobody's perfect. We would have included a second picture, but the only other photo with the listing was a shot of the pool where someone's doing laps. Not exactly intriguing.
But who cares, anyway? It's not about the property. It's about the price. The asking price of $169,000 is just $29,000 above the sales price essentially nine years ago to the day. Factor in sales costs and other necessary repairs and upgrades, and you've got a problem - you've lived in a starter property for almost a decade and you're still in the hole with a short sale.
And, that assumes there wasn't any refinancing or HELOC money in play. Care to make that assumption? We aren't...
2 comments:
Well, to be fair, that's almost 20% over the 2000 price, so that's more like late 2002 or early 2003 pricing... just to be clear.
Chuck
$278 per month for association dues? That's a deal-killer right there. I lived in this place when it was apartments (before they were converted to condos.) That was back in the early '80s and nothing much was done to upgrade the place. There are no amenities besides the pool.
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