Salida-ing down in San Clemente

One of the "stars" of Real Housewives of OC has been evicted from her home, if you're into that sort of thing.

Let's go to another coastal South OC city today, San Clemente. Check out the asking price on this short sale. Then check out what the previous sales price was...

209 Calle Salida, 92672
Asking price: $700,000

Beds:	4
Baths:	4
Sq. Ft.:	2,347
$/Sq. Ft.:	$298
Lot Size:	7,130 Sq. Ft.
Property Type:	Single Family Residence
Style:	Other
Stories:	1
View:	Greenbelt, Park or Green Belt, Has View
Year Built:	1976
Community:	San Clemente Central
County:	Orange
MLS#:	S558172
Source:	SoCalMLS
Status:	Active
On Redfin:	246 days

From listing: Cul-De-Sac Single Level Home On A Large Lot Located Next To The Park. Open & Spacious Floor Plane 2 Master Bedrooms. The Master Suite With Vaulted Ceiling & Direct Access to Large Backyard And Golf Cours. Kitchen With Nook & Separate Dining Area. Living Room With Hardwood Flooring. Most of Rooms With Ceiling Fans. Kitchen With Access To Patio

Previous sales price: $1,050,000 in 2005.
Previous sales price before that: $318,182 in 2001.

Check out the photo - Happy Holidays! That is, Happy 2008 Holidays! One would think a house asking this much money would have better photos. Perhaps the discount off the previous sales price has a lot to do with the lack of effort.

Assuming the lender will let this one go after 247 days on Redfin (without a price reduction) for the full asking price, the loss would be 33.33333...%, before any sales costs.