Short sale exam

Lots of short sales are entering the "backup offers accepted" stage. Are they actually closing?

Below are a handful of properties that fit this description. All are marked as short sales, all are taking backup offers on the (theoretical) way to closing. We've marked this post as one to follow up on in a few months. Then, we'll take a look and see what happens...


2946 Calle Grande Vis, San Clemente 92672
Last asking price: $599,900
Previous sales price: $735,000
Previous sales date: 9/29/06
Listing description snippet: Sigle level home in the Shore Cliff area. Walking distance to the beach. This is a short sale with a short fuse. THis home must be sold in the next few days. Do not miss this opportunity. Calle Grande Vista is not part of the Shore Cliff HOA. No fees!

31311 Calle Villa Clara, San Juan 92675
Last asking price: $495,000
Previous sales price: $699,000
Previous sales date: 2/2/07
Listing description snippet: This is a hot property!! Turnkey home has been completely updated and is in excellent shape! The price is unbeatable! From the moment you walk through the door you'll feel right at home and be sure to enjoy the newly remodeled kitchen which opens to your formal dining and living rooms. Some wonderful features are: French doors, designer paint, baseboards, can lighting, crown moulding, new windows, updated bathrooms, new tile, cabinets, lighting and more!

21892 Apache Dr, Lake Forest 92630
Last asking price: $450,000
Previous sales price: $744,000
Previous sales date: 11/14/05
Listing description snippet: THIS ONE HAS IT ALL* GREAT NEIGHBORHOOD* HUGE LOT* OPEN FLOORPLAN*PRIVATE CORNER LOT*GOOD SIZE BEDROOMS WITH ONE DOWNSTAIRS*WOOD FLOORING* VAULTED CEILINGS* KITCHEN OPENS TO FAMILY ROOM* PLENTY OF KITCHEN CABINETS* COZY FIREPLACE IN FAMILY ROOM*CLOSE TO LAKE, SCHOOLS, SHOPS, PARKS AND SUN & SAIL CLUB*LOW TAX RATE*READY TO MOVE IN*

31 Colorido, RSM 92688
Last asking price: $530,000
Previous sales price: $252,500
Previous sales date: 5/13/93
Listing description snippet: Fell out of escrow! 5 bedroom, 3 bath, 2,200 sq ft detached home in great Rancho Santa Margarita neighborhood! 4 bedrooms on second level with 1 bedroom on main floor. Kitchen with upgraded granite tile counters. Sunny breakfast nook. Family room with ceiling fan.

10 Claymont Dr, Ladera Ranch 92694
Last asking price: $509,900
Previous sales price: $725,000
Previous sales date: 5/10/04
Listing description snippet: Fabulous corner lot location in the heart of OakKnoll Village in Ladera Ranch. Gorgeous, 3 bedroom, 2.5 bath property offers extensive upgrades including, warm wood floors, upgraded carpet, crown mouldings, Great Room including Granite Kitchen with huge Island open to family room and dining area. Formal Living Room for upscale entertaining. Award-Winning Chaparral Elementary, Ladera Middle school and Tesoro high schoool!