At this point, it's really no surprise that older, small one-bedroom apartments (err, condos), have taken a huge beating. Another example of the spectacular fall from ridiculous heights is this property in Lake Forest.
20702 EL TORO Rd #22 Lake Forest, CA 92630
Asking price: $130,000
Previous sales price: $276,000
Previous sales date: 3/14/06
| Beds: | 1 |
| Baths: | 1 |
| Sq. Ft.: | 610 |
| $/Sq. Ft.: | $213 |
| Lot Size: | 600 Sq. Ft. |
| Property Type: | Residential, Condominium |
| Style: | Two Level, Contemporary |
| Year Built: | 1980 |
| Community: | Lake Forest North |
| County: | Orange |
| MLS#: | S582364 |
| Source: | SoCalMLS |
| Status: | Active |
| On Redfin: | 165 days |
| | |
From listing: Very nice upstairs unit close to pool. Large, open feeling in both family room and master bedroom.According to Redfin records, this property changed hands in 2004 for $250,000; in 2001 for $110,000 and before that $74,000 in 1989.
Between 1989 and 2001 (12 years), the property appreciated $36,000 (49%). Between 2001 and 2004 (three years), the property appreciated $140,000 (127%). When you do the math you see how out-of-touch things got.
Assuming the property sells for the current asking price, it would be $146,000 or 53% off the 2006 price.
1 comments:
Thanks for sharing with us. Its a nice place to leave. i like the location.
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