Friday listings dump

Here's a quick sampling of just a few of the properties to hit the market this week:

26751 Anadale, Laguna Hills 92653
Asking price: $699,000

Beds:	4
Baths:	3
Sq. Ft.:	2,699
$/Sq. Ft.:	$259

Previous sales price: $750,000
Previous sales date: Oct 27, 2003
Listing description snippet: !!!Attention all Buyers and Agents!!! This is the home that you have been waiting for!! 4 bedrooms, 3 full baths, & 3 car garage. Bring your offer. Well priced to sell TODAY. This home won't last long. Hurry before it's sold.

46 Milagro, RSM 92688
Asking price: $399,900

Beds:	3
Baths:	2.5
Sq. Ft.:	1,350
$/Sq. Ft.:	$296

Previous sales price: $560,000
Previous sales date: Feb 08, 2007
Listing description snippet: Great location! This 3 bedroom & 2.5 bath single family residence is close to all the necessities. Close to park, shops, theatre & restaurants. Dramatic cathedral ceilings w/ cozy fireplace. Large open kitchen w/ maple cabinets, breakfast bar & large pantry!

31742 Avenida Villa, San Juan 92675
Asking price: $675,000

Beds:	4
Baths:	2
Sq. Ft.:	2,117
$/Sq. Ft.:	$319

Previous sales price: $960,000
Previous sales date: Jun 29, 2006
Listing description snippet: You have got to see the backyard paradise on this home! Words can not describe the tropical playground that is the yard. Custom pebble-tec pool features 10 man grotto, with many waterfalls, water slide for the kids, huge spa on another level spills into a little river, that runs into the pool.

Friday listings dump

Here's a sampling of the many homes to hit the market in the past week...

24131 Ankerton Dr, Lake Forest 92630
Asking price: $299,000 (backup offers accepted)
Previous sales price: $225,500
Previous sales date: 10/14/99
Size: 3 beds, 2 baths, 1,145 sq ft
Listing description snippet: "Great Well-kept Single Story Home In Nice Neighborhood with NO mello-roos and a low tax base. Situated in the center of the tract. Newer roof, dual pane windows, stucco exterior and much more."

27702 Greenfield, Laguna Hills 92653
Asking price: $1,495,000
Previous sales price: $1,600,000
Previous sales date: 5/16/05
Size: 6 beds, 6 baths, 5,200 sq ft Listing description snippet: "A rare find in Nellie Gail Ranch! Beautifully remodeled and expanded Dom Perignon model with 6 bedrooms, 5 full baths and 2 powder rooms. The main level features a master bedroom suite with fireplace and three additional bedrooms."

1566 Glenneyre St, Laguna Beach 92651
Asking price: $1,295,000
Previous sales price: $1,050,000
Previous sales date: 9/24/03
Size: 2,350 sq ft
Listing description snippet: "Laguna Beach Village Triplex - Located One Block from the Beach and the Landmark, Surf & Sand Hotel. All three units are renovated 2 bedroom & 1 bathroom units."

Friday listings dump

Here's a sampling of some of the properties that have hit the market in the past week. Ready, set, bid...

344 Jasmine St, Laguna Beach 92651
Asking price: $1,895,000
Asking price/sq ft: $1,095
Size: 3 beds, 2 baths, 1,730 sq ft
Previous sales price: $2,060,000
Previous sales date: 6/15/05
Listing description snippet: "Located on one of the highly coveted tree streets of North Laguna, this beautifully restored California Craftsman styled home will please any buyer looking for old world charm but who also wants a modernized home. Tastefully restored while maintaining the original charm of the residence, the home features hardwood floors throughout, living room with a wood-burning fireplace, formal dining room and especially inviting outdoor spaces including an oversized and beautifully landscaped front yard."

17 Craftsbury Pl, Ladera Ranch 92694
Asking price: $899,000
Asking price/sq ft: $226
Size: 5 beds, 4 baths, 3,983 sq ft
Previous sales price: $1,375,000
Previous sales date: 3/15/07
Listing description snippet: "Loaded with interior appointments including: gourmet kitchen w/granite counters, stainless steel appliances, custom cabinetry, plantation shutters, custom built-ins, travertine flooring, surround sound, security system, central vacuum, entertainer's backyard with salt water pool, 8 person spa, built-in BBQ & much, much more!"

60 Via Armilla, San Clemente 92673
Asking price: $829,000
Asking price/sq ft: $261
Size: 4 beds, 3.5 baths, 3,176 sq ft
Previous sales price: $658,000
Previous sales date: 5/28/09
Listing description snippet: "A tuscany beauty and loaded with upgrades. Nothing needs to be done in the spectacular pool home. Located in a gated community on a single loaded street at the end of a culdesac. Exceptional floorplan with a downstairs private office. Gourmet kitchen with granite counters and rich dark cabinets. Extensive spanish tile flooring."

24055 Paseo Del Lago #451, Laguna Woods 92637
Asking price: $8,000
Asking price/sq ft: $13
Size: 1 bed, 1 bath 625 sq ft
Listing description snippet: "Popular Plan B 1-bedroom, 1-bath condo on 4th floor of Rossmoor Towers. FRESHLY PAINTED. Laguna Woods Village is a 55+ age-restricted gated community for the active lifestyle. It is located on 2,100 acres of rolling hillsides just minutes from the Laguna Beach coastline."
HOA monthly dues: $1,535.96

Weekend pending sales

There are a number of South OC properties entering the "backup offers accepted" stage every day. Here are a few of them:

32 Paseo Rosa, San Clemente 92673
Asking price: $350,000
Previous sales price: $511,000
Previous sales date: 1/10/06
Listing description snippet: "Dark Hardwood floors, granite counter tops, plantation shutters, fireplace, and upgrades galore."
Our comment: This is a short sale that on quick glance appears to be way overimproved. It's priced barely below the August 2004 price of $379,500.

33 Agia, Laguna Niguel 92677
Asking price: $929,000
Previous sales price: $1,100,000
Previous sales date: 4/22/04
Listing description snippet: "DROP DEAD GORGEOUS HOME IN MARINA HILLS WITH A LARGE VIEW LOT.FORMER MODEL AND STILL FEELS LIKE A MODEL."
Our comment: You say luxury properties aren't moving? Ha! This one appears to have found a buyer...just $171,000 below the 2004 price (not including the "over $100k in replacing the downstairs and upstairs floors with 19x19 Italian stone floors...high grade carpets...3 remodeled bathrooms, all new plantation shutters on 90% of the windows...")

26481 Veracruz Lane, 92691
Asking price: $549,900
Previous sales price: $253,000
Previous sales date: 2/8/1990
Listing description snippet: 'Great Price on a Nice 4 Bedroom Home in Mission Viejo. The Property Has Two Fireplaces, a Main Floor Master Bedroom and a Nice Yard. It s Located in a Great Neighborhood with Award Winning Schools."
Our comment: What, you say there aren't equity sellers? That people weren't tempted to tap the home as a piggy bank? Ha! This house last sold in 2000...and...oops, we've got another short sale-turned pending. This house has been on the market for more than a year. It originally showed up in April 2008 asking $639,900.

Weekend listings dump

Looks like multiple (as many as 63) offers are now the norm in parts of OC...at least for foreclosures with asking prices that are more than 50% off previous bubble sales price. The other trend now is to come in with a low asking price and let buyers fight and bid the thing up.

Here are three properties in South OC trying their luck at the housing game. All four are ready for your offers on the MLS...

28 Cellini, Aliso Viejo 92656
Asking price: $474,000
Previous sales price: $559,000
Previous sales date: 9/14/05
Size: 2 beds, 3 baths, 1,640 sq ft
Listing description snippet: "It features dramatic vaulted ceilings thru-out. The living room features a cozy fireplace and nice patio area off of living room & dining area."
Our comment: The description also says "agents value price range $474,000 to $499,000." Guess it's the same agent that has little to no interest in taking inviting pictures or writing a decent description.

19 Calle Tejado, San Clemente 92673
Asking price: $496,530
Previous sales price: $799,000
Previous sales date:9/20/06
Size: 4 beds, 2.5 baths, 2,000 sq ft
Listing description snippet: "right with GRANITE Countertops, Stainless Appliance & Lots of Cabinetry. Lovely Master Bedroom & Bath with a Huge Walk-in Closet. This Single-Family Detached Home Backs to a Greenbelt for a true sense of Privacy!"
Our comment: Here's a listing primed to get offers...an REO at 38% off the 2006 price.

21043 Providence, Lake Forest 92630
Asking price: $585,000
Previous sales price: $555,000
Previous sales date: 7/26/06
Size: 3 beds, 3 baths, 1,504 sq ft
Listing description snippet: "Carriage Hill Home with Extraordinary Sunrise and Sunset Views from Kitchen, Dining Room and Master Bedroom."
Our comment: We like the picture...the asking price not so much. Is it correct and are we really looking at above bubble pricing? Not a good sign.

Friday listings dump

Whew...another Friday, and some more listings for you to sample. All are new to the MLS in the past week.

19641 Orviento Dr, Lake Forest 92679
Asking price: $240,000
Previous sales price: $435,000
Previous sales date: 6/1/05
Size: 2 beds, 2.5 baths, 1,105 sq ft (built in 1997)
Listing description snippet: "Patio off living room with views! Master bath has view as well."
Our comment: This property is headed for trouble considering the current owner took out loans in 2005 in excess of $430,000. The asking price is $50,000 less than the 2003 sales price of $290,000 and 45% lower than the 2005 sales price.

29302 Troon St, Laguna Niguel, 92677
Asking price: $625,500
Previous sales price: $919,000
Previous sales date: 4/29/05
Size: 3 beds, 2 baths, 1,517 sq ft (built in 1972)
Listing description snippet: "!!!!!! Attention buyers and Agents!!!!!!!! Act fast because this is a hot deal that will not last."
Our comment: The previous owner used 95% financing to buy this property in 2005, and again by the end the debt was too much to bear. The current asking price is 32% below the peak price. Is this an example of the crumbling higher end?

31681 Scenic Dr, Laguna Beach, 92651
Asking price: $1,349,000
Previous sales price: $1,270,000
Previous sales date: 5/17/06
Size: 3 beds, 2 baths, 1,400 sq ft (built in 1938)
Listing description snippet: "Great Investment Potential with Breathtaking Panoramic Ocean Views from this Charming Laguna Beach Cottage Duplex. Duplex can be converted into Single Family Residence."
Our comment: It's the $1.35 million dollar Laguna Beach cottage. No housing bubble indeed - the asking price is $79,000 above the mid-2006 price.

(Holiday) weekend listings dump

Here are just a few of the properties that hit the MLS in South County within the last week.

1062 Calle Del Cerro #1220, San Clemente, 92672
Asking price: $150,000
Asking price/sq ft: $221
Previous sales price: $288,000
Previous sales date: 6/20/07
Listing snippet: "'BARGAIN HUNTER'S SPECIAL'. San Clemente's BEST BUY!"
Our comment: This property is a short sale, a preforeclosure and an example of how properties purchased in 2007 are running into trouble. The current owner used a downpayment of $28,800 and financed the rest from Countrywide.

6 Melody Lane, Ladera Ranch, 92694
Asking price: $749,000
Asking price/sq ft: $250
Previous sales price: $950,000
Previous sales date: 8/31/06
Listing snippet: "THIS HOME HAS IT ALL AND IS MOVE-IN BEAUTIFUL. NEW DESIGNER PAINT AND CARPET, 16-INCH PORCELAIN TILE AND CROWN MOULDING."
Our comment: This property is being offered at 21% off the 2006 price. It's also got the granite and stainless steel of bubble years gone by.

123 White Sands, Trabuco Canyon, 92679
Asking price: $269,000
Asking price/sq ft: $299
Previous sales price: $289,000
Previous sales date: 10/29/03
Listing snippet: "This is definitely a 10... Model perfect 2bd 1 bath Condo."
Our comment: This condo in the Trabuco Canyon area is a 2003 rollback. A quick back-of-the-napkin estimate based on rental rates says this property "should" be valued at around $200,000.

25541 Orchard Rim Lane, Lake Forest, 92630
Asking price: $579,900
Asking price/sq ft: $252
Previous sales price: $252,000
Previous sales date: 9/17/98
Listing snippet: "A much sought after Brock Home in Lake Forest. Location Location Locastion. Located on a long CDS street, this home backs to the Orchards."
Our comment: How could they butcher the "location, location, location" cliche? We included this property as an example of an equity seller who bought a little more than a decade ago and is in line to come out well - assuming they can sell. A house on this street sold in the mid $500,000s in 2008, but we're not sure values have remained flat since then.

Friday listings dump

Here's a sampling of some South OC properties that have hit the market in the past week.

26051 Glen Canyon Dr, Laguna Hills, 92653
Asking price: $1,999,500
Previous sales price: $1,310,000
Previous sales date: 10/15/99
Size: 4 beds, 4.5 baths, 5,262 sq ft
Listing price snippet: "The spacious family room has a brick fireplace and a walk-behind wet bar.Gourmet center island kitchen features stainless appliances, built-in refrigerator, rich wood floors and cabinetry with marble countertops and breakfast nook that opens to a sun room with rear yard access."
Our comment: Want to buy in Nellie Gail? Expect to continue to pay a premium. With the current asking price, the owner is hoping to see 53% cumulative appreciation over a decade.

22596 Killy St, Lake Forest, 92630
Asking price: $390,000
Previous sales price: $615,000
Previous sales date: 6/23/05
Size: 3 beds, 2 baths, 1,250 sq ft
Listing price snippet: "This Home is a Short Sale but is very clean and neutral colors. Custom Front Door, Tile Entry, Vaulted Ceilings in Living Room with Fireplace. Open Vaulted Ceiling in Kitchen with White Cabinets and Black Appliances."
Our comment: Redfin says this property went for $525,000 in 2004 and then $615,000 in 2006. Now, it's offered for sale yet again but this time as a short sale. Total discount off the peak price is $225,000 or 37%.


25352 Westborne Dr, Dana Point, 92629
Asking price: $579,900
Previous sales price: $481,500
Previous sales date: 2/17/09
Size: 3 beds, 2 baths, 1,639 sq ft
Listing price snippet: "Large manicured yard with fruit trees and long paver driveway. Brand new roof and appliances, remodeled kitchen and baths with grantite countertops and travertine tile, newer windows, crown molding, fireplace, and hard wood flooring thoughout."
Our comment: This listing doesn't say bank owned, so we're thinking this is a flip that an investor picked up at auction and is looking to turn for a profit. Who else would remodel with granite, travertine and new appliances?

Weekend listings dump

Here are a collection of new listings to hit the market in South OC in the past week. Is everything OK with the local market? Well, the latest DataQuick report showed that the number of properties sold during the last reporting period was 43% below the average of 1997-2006.

Nevertheless, the sellers of these four properties are hoping to make a sale right now...


41 Campton Pl, Laguna Niguel, 92677
Asking price: $316,900
Previous sales price: $301,750 (REO)
Previous bank sales date: 1/27/09
Size: 3 beds, 2 baths, 1,206 sq ft
Listing description snippet: "STOP THE PRESSES!!! Bank's Giving This Home Away! Are You Looking for an Investment Opportunity? Look No Further as Bank's Priced this Laguna Niguel Condo to Steal & They Mean Business!!!"
Our comment: Obviously, the description is trying to instill a sense of urgency. This is a 2003 rollback. The rental comps have this one at roughly rental parity for an owner-occupant, though the very high HOA dues ($350+ per month) are a huge deterrant and probably throw that out of balance a bit. We doubt the price is low enough for an investor unless they want to sink a large downpayment to get the mortgage low enough.

6 Pegasus Dr, Coto, 92679
Asking price: $1,089,000
Previous sales price: $1,314,000
Previous sales date: 11/10/04
Size: 5 beds, 5 baths, 4,037 sq ft
Listing description snippet: "EXTRA LARGE BACKYARD HAS AMAZING VIEWS!! Culdesac street. Great property all the way around! "
Our comment: This property more than doubled in price between 1999 and 2004. If it could be sold for the current asking price, the house would easily be a 2003 rollback. Coincidentally, the property next door - which sold for $1.4 million in 2005 - is currently going through foreclosure.

25141 Rivendell Dr, Lake Forest, 92630
Asking price: $399,000
Previous sales price: $700,000
Previous sales date: 12/22/05
Size: 3 beds, 2 baths, 1,700 sq ft
Listing description snippet: "Shangri-la with views of the pool from the living room, formal dining room, master and kitchen. Dual pane vinyl windows and doors, scraped ceilings. New AC/furnace, new Fire 'n' ice fireplace."
Our comment: Ouch. This is a big time short sale. Raise your hand if you also think this could be a preforeclosure. If you did, you're right: The current owner financed all but $100 of the 2005 sales price. Now, National City is going to pay the price.

911 Rossmoor Tower #1, Laguna Woods, 92637
Asking price: $95,000
Previous sales price: $187,773
Previous sales date: 3/26/04
Size: 1 bed, 1.5 baths, 910 sq ft
Listing description snippet: "Fantastic Panoramic View of Mountains, Hills & City Lights from Living Room and Bedroom. This Highly Desirable 'G' Unit Located in Rossmoor Towers in Pretigious 55+ Laguna Woods Village."
Our comment: We typically don't deal with Laguna Woods (Leisure World still to most of us) because the market has its own unique dynamics, but this one is a bit interesting because it's a virtual 1989 rollback - that year, this unit sold for $93,500.

Weekend listings dump

Here are some of the many properties in South OC to hit the MLS in the past week. Enjoy and happy weekend.

28331 Via Anzar, San Juan, 92675
Asking price: $699,000
Previous sales price: $1,000,000
Previous sales date: 4/6/05
Size: 5 beds, 3.5 baths, 3,416 sq ft (built in 1979)
Listing description snippet: ..."NO HOA, NO MELLO ROOS! Possible RV parking in large side yard. 2 of the bedrooms are down. Both currently used as offices. "
Our comment: How about a huge San Juan short sale house for 30% off?

26535 Calle San Luis Unit 84c, San Juan 92675
Asking price: $130,000
Previous bank sales price: $303,897
Previous sales date: 9/23/08
Size: 2 beds, 1 bath, 897 sq ft (built in 1971)
Listing description snippet: "SUPER TOWNHOME IN SOUTH ORANGE COUNTY. GREAT PRICE READY TO GO. CLOSE TO SCHOOLS, SHOPPING AND FREEWAYS. "
Our comment: This REO condo is offered at 69% off its 2007 price of $430,000.

24695 Jessica Place, Laguna Niguel, 92677
Asking price: $1,299,995
Previous sales price: $1,457,000
Previous sales date: 10/21/05
Size: 5 beds, 4.5 baths, 3,350 sq ft (built in 2005)
Listing description snippet: "Over 180 degree panoramic view. Highly upgraded with bathrooms and showers in 4 rooms. 4 beds plus den w/ main floor bed/shower. 24-hr. guard gated community w/ two pools, two spas and two main gates."
Our comment: This asking price was dropped a whole $5 off its original asking price of $1.3 million. We find this area - San Joaquin Estates - interesting because it is an enclave of expensive houses built at the peak. As you can see, values are falling. There also are three preforeclosures on this street (our subject property is not one of them).

34 Tanzanite, RSM, 92688
Asking price: $495,000
Previous bank sales price: $433,500
Previous sales date: 1/23/09
Size: 4 beds, 2.5 baths, 1,977 sq ft (built in 1999)
Listing description snippet: "... it is located near freeways, shopping, entertainment and more. This property is priced to sell and will not last long, submit your offer today!!"
Our comment: This REO is priced $19,000 below its 2003 sales price of $514,000.

Friday listings dump

In keeping with what has become a weekly ritual, we're going to end the work week with a sampling of South OC properties that have hit the MLS within the past week.

23262 Orange Ave #6, Lake Forest, 92630
Asking price: $177,900
Previous (bank) sales price: $319,444
Previous sales date: 1/28/09
Size: 3 beds, 2 baths, 1,132 sq ft
Listing description snippet: "FRESH PAINT & CARPET....PRICED TO SELL FAST. 3 BEDROOMS, 2 BATHS. "
Our comment: This REO once sold for $400,000 in 2006. The bank's asking price is 56% below the peak. We think the large price declines are mostly over for these types of small condos. On deck, larger properties.

73 Sansovino, Ladera Ranch, 92694
Asking price: $290,000
Previous sales price: $470,000
Previous sales date: 5/20/05
Size: 2 beds, 2 baths, 1,216 sq ft
Listing description snippet: "Ready to move into, looks brand new and shows well. This home is turn key with beautiful hardwood floors downstairs, custom colors, upgrated tile countertops, and balcony in master bedroom."
Our comment: Here's a Ladera Ranch condo at 38% off the 2005 price. It's also $20,000 above the 2003 price, so that makes us think it's still probably a bit overpriced relative to its current value.

2708 Calle Estrella De Mar, San Clemente, 92673
Asking price: $1,595,000
Previous sales price: $1,887,500
Previous sales date: 4/14/06
Size: 6 beds, 5.25 baths, 4,100 sq ft
Listing description snippet: "The gourmet kitchen has granite counter tops and stainless steel appliances including GE Monogram built-in refrigerator, large center island, pantry, built-in desk and sunny breakfast nook. Other upgrades include beautiful hardwood floors, travertine tile with granite in-lays, upgraded carpet, Butler's pantry, built-in entertainment center in family room, surround sound, ceiling fans, mirror wardrobes."
Our comment: Why isn't there more SC on this blog? We do like you, San Clemente, but why do you have to be located so far south? This home is up for sale at 15% off the '06 price.

78 Fairlane Rd, Laguna Niguel, 92677
Asking price: $999,000
Previous sales price: $1,200,000
Previous sales date: 6/7/06
Size: 4 beds, 3.5 baths, 3,164 sq ft
Listing description snippet: "Welcomed by the elegant living room with soaring ceilings and oversized windows, relax by the cozy fireplace and entertain in the formal dining room over looking the backyard."
Our comment: Bear Brand is one of our favorite parts of South OC, so you can imagine how excited we were when we saw a nice house there is for sale for only $999,000! It's offered for sale at a 17% discount off the 2006 price.

Friday listings dump

"Moderately Confused" by Jeff Stahler

Another week, and unfortunately more..bad...news. Sucktastic. Well, here's some recent home listings, in case that sort of thing cheers you up.

6 Vermilion Clfs, Aliso Viejo, 92656
Asking price: $1,275,000
Previous sales price: $1,550,000
Previous sales date: 5/17/05
Size: 4 beds, 2.75 baths, 3,000 sq ft
Listing description snippet: "Simply Phenomenal is the best way to describe this Mini Estate. Panoramic Rolling Hills View, Cull-de-sac Location in a Gated Community, and Great Seller Financing available."
Our comment: This property is not listed as a short sale, and there is seller financing available? Wow, must be nice to be these owners. Assuming a sale for the current asking price, it would be $275,000, or 18% below the 2005 price.

25282 Northrup St, Laguna Hills, 92653
Asking price: $559,000
Previous sales price: $710,000
Previous sales date: 11/4/05
Size: 4 beds, 3 baths, 2,100 sq ft
Listing description snippet: "Beautiful Large Home, on a Large Lot, w shade trees!! Great Neighborhood, This is a must see!! Seller has Totally Upgraded the guest Baths including Granite countertops"
Our comment: This photo is from the old 2005 listing. The whole description is one excruciating run-on, title-case littered sentence. This is not listed as a short sale, and it is not showing up as a preforeclosure on ForeclosureRadar, but there are 3 others on this street that are in some stage of the process.

30 Bedstraw Loop, Ladera Ranch, 92694
Asking price: $700,000
Previous sales price: $918,500
Previous sales date: 12/27/04
Size: 4 beds, 3 baths (with a bidet!), 2,736 sq ft
Listing description snippet: (None)
Our comment: This property is a preforeclosure. The current owners used a 30% downpayment to buy this property new from Pulte Homes. Then, they refinanced into an $824,000 (90% of purchase price) loan in mid-2006. They still stand to lose a good chunk of change if this house sells. So will the lender.

34151 Camino El Molino, Dana Point, 92624
Asking price: $999,000
Previous sales price: $982,000
Previous sales date: 2/11/05
Size: 7 beds, 5.25 baths, 4,000 sq ft
Listing description snippet: "IF YOU LIKE TO ENTERTAIN AND OR YOU HAVE EXTENDED FAMILY......THIS IS IT. FROM THE MOMENT YOU ENTER THROUGH THE GATED COURT YARD...YOU FIND A SELF CONTAINED CRAFTSMEN STYLE CASITA WITH SHOWER AND TOILET AND SLEEPING LOFT."
Our comment: The property is set at a wishing price $17,000 above the 2005 bubble price and $274,000 higher than the 2004 sales price. And, it's a short sale. This probably won't end well.

Friday listings dump

Here are a few South OC properties new to the MLS this week. Enjoy and happy Friday!

31035 Calle San Diego Unit 116c, SJC, 92675
Asking price: $109,500
Purchase price: $205,000
Purchase date: 6/24/03
Listing snippet: "Newer ceramic tile on bottom floor and newer carpet in stairs and top floor. Airy and bright. Close to Association pool and playground."
Our comment: Let's start things off with a 2001 rollback. It's also nearly a 1995 rollback - the sales price that year was $100,890.

4405 Mar Escarpa, San Clemente, 92673
Asking price: $975,000
Purchase price: $1,385,000
Purchase date: 8/8/05
Listing snippet: "This Forster Highland home features 5 bedrooms and 4.5 baths,spacious kitchen with upgraded cabinets and granite countertops, built in entertainment center,travertine floors, pool and spa."
Our comment: This short sale is being offered for sale at 30% off the 2005 price.

33821 Olinda, Dana Point, 92629
Asking price: $332,500
Purchase price: $409,200 (REO)
Purchase date: 2/3/09
Listing snippet: "Great opportunity to purchase this bank owned beach cottage with picket fence in the Lantern District. "
Our comment: The previous owner extracted a healthy amount of equity before losing it to the bank. Redfin says the property sold for $275,000 in 2001.

2 Fayette Cir, 92694
Asking price: $974,900
Purchase price: $1,399,500
Purchase date: 10/24/05
Listing snippet: 'Thoughtful and abundant architectural elements grace this captivating two story resdence with almost 4000 square feet of living area. Highlights include a professional grade island kitchen with top of the line stainless steel appliances, striking hardwood floors, four fireplaces, plantation shutters, custom built-ins, instant hot water heaters and a great number of other stunning upgrades."
Our comment: Here's an attractive-looking home - if you like Craftsman style - in Ladera. This is a short sale offered at $451,600 or 32% off the 2005 price.

Friday listings dump, Jan. 30

Here are some of the properties that have hit the market in the past week. In case you missed it, the OC Register is reporting that the DataQuick stats show the median price of an OC dwelling is below $400,000. Peak was $645,000. Total drop of $250,000 - if you're following that kind of thing.

5 Trumpet Vine, Ladera Ranch, 92694
Asking price: $509,900
Size: 3 beds, 2 baths, 2,000 sq ft
Peak sales price: $875,000
Peak purchase date: 8/4/06
Listing description snippet: "LARGE SINGLE FAMILY HOME WITH 3 BDRM 2 1/2 BATH WITH FIREPLACE, BUILT IN 2002 WITH AC CENTRAL/GAS HEATING LIVING SPACE OF 2000 (E) INTSQFT/ LOT SIZE OF 3500(E) ALL INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED/ALL BUYERS TO SATISFY THEMSELVES AS TO ALL ASPECTS OF THE PROPERTY / ALL BUYERS TO VERIFY IF OR ANY HOA INFO & DUES MERRIT ASSOCIATION"
Our comment: Redfin says the original asking price for this property was $50,990 on the MLS - and that same day was changed to the current asking price. Honest mistake, or transparent ploy to get the phones ringing? This propety is a foreclosure that went back to the bank for $763,447. Assuming the property moves for the current asking price, it would mean a depreciation of 42% off the peak bubble price.

28441 Camino Dimora, San Juan, 92675
Asking price: $849,900
Size: 4 beds, 3 baths, 2,920 sq ft
Previous sales price: $446,500
Previous purchase date: 8/31/98
Listing description snippet: "THIS ELEGANT HOME FEATURES A CHEF DELIGHT KITCHEN WITH GRANITE COUNTERS, CENTRAL ISLAND AND STAINLESS STEEL APPLIANCES - VIKING COOKTOP AND OVEN. WOODEN SPIRAL STAIRCASE LEADS TO MASTER SUITE WITH DOUBLE DOOR ENTRY, HIS AND HERS WALK-IN CLOSETS, MASSIVE BALCONY AND CUSTOM BUILT-IN SHOE CLOSET"
Our comment: How good a long-term investment will this OC property prove to be? Assuming the house sells for the full asking price, the owners would have received roughly 6% annual appreciation over 11 years - not including sales fees and other costs.

601 Calle Real, San Clemente, 92673
Asking price: $775,000
Size: 5 beds, 3 baths, 2,550 sq ft
Previous sales price: $1,275,000
Previous purchase date: 9/23/05
Listing description snippet: "Wow This 1/3 rd Acre W Panoramic Ocean Views Is Awesome Subjecrt to lender approval "
Our comment: Jay Leno loves stupid criminals, and we love MLS photos with text and multiple pictures on them. By love, we mean hate. And yes, this entire listing description is one big run-on sentence. Major short sale.

3261 Rimcrest Circle, Laguna Beach, 92651
Asking price: $1,980,000
Size: 3 beds, 2.25 baths, 2,281 sq ft
Previous sales price: $180,000
Previous purchase date: 4/21/95
Listing description snippet: "Stunning architectural, award winning designed home. This dramatic, soft contemporary property features a functional floor plan with indoor/outdoor space for entertaining and relaxed living. Sophisticated coastal style blend of finishes includes hardwood floors, slate, granite counters and maple cabinetry."
Our comment: Here's a neat-looking house and a nice departure from the usual tract home hell of South OC - assuming you're into modern.