How would you like to buy an unlandscaped short sale property in Ladera Ranch? Once you spend the money putting in the yard, it would cost you about what it sold for new in 2006! Sounds fishy to us...
44 Christopher St, 92694
Asking price: $900,000
Previous sales price: $1,050,500
Previous sales date: 10/5/06
| Beds: | 4 |
| Baths: | 3 |
| Sq. Ft.: | - |
| Lot Size: | 8,600 Sq. Ft. |
| Property Type: | Residential, Single Family |
| Style: | Two Level |
| Year Built: | 2006 |
| Community: | Ladera Ranch |
| County: | Orange |
| MLS#: | I09119715 |
| Source: | MRMLS |
| Status: | Active |
| On Redfin: | 5 days |
This listing has no business being a million-dollar listing...from the one outside photo to the uninspired listing description. We're sure there's a reason to the lack of effort (and there could be many of them) but we won't speculate.
We will, however, wonder out loud if this house in its current state has any business being price anywhere near $900k - that's about a 14% discount off the peak. How about you rent a 3,800 sq ft house also in Ladera Ranch with the same number of bedrooms and bathrooms for $4,450 a month?
You couldn't even make an honest comparison between the two, considering our subject property is currently unfit for comfortable living because of the lack of landscaping. But if we were to assume that our subject is really worth $4,450 a month to a renter, then a generous GRM of 180 yields a target value of $801,000 - assuming, of course, the house is finished and ready to roll.
3 comments:
You mention the landscaping as being the problem, but from the picture who would want to have that high wire tower and lines in the backyard. I would never consider a house like that.
...and as long as that's the local version of the Watts Towers in the back and not some gawdaful transmission tower.
*I thought MY place was a freakin' dump-*
Fraudera Ranch at its finest. These folks who drove up prices and thought they were entitled to the OC lifestyle are now regretting their greed and quest for bling.
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