Owner: South OC Real Estate Tracker URL:http://www.southoctracker.com/ Join Date: Sat, 22 Sep 2007 12:04:12 -0500 Rating:0 Site Description: A blog dedicated to following trends and discussing the latest South Orange County, California news. Site statistics:Click here
Three views from the other side 2007-09-25 02:00:00 For a different perspective on the current state of South OC real estate, we turn to Realty Times. In case you're not familiar with this site, it provides "a comprehensive analysis of the market, with over 10,000 reports from Realtors across North America." The usual caveat here: Some of the "reports" are misleading, while others are decidedly well-written, insightful and honest. Of course, there is always the perception (whether deserved or not) of bias, because if you don't buy or sell a house, the Realtor doesn't make money.Side note: An interesting bit of commentary appears on the site in the form of an article called "When It's Not a Good Time to Buy." There are some sensible points made, and it's worth a read.Here is a sampling of Realty Times reports on various South County cities, with my analysis afterwards. I've taken pieces of the complete report. To read the entire thing, click on the city name.Disclaimer: This is not solely meant to be agent bashing time. Instead, it Read more:Three
, views
Which would you prefer? 2007-09-24 17:58:00 First off...very interesting article over at the NY Times with the headline "A Reality Check for Home Sellers." It discusses the reasoning behind some sellers' refusals to lower prices in a correcting market, and compares the phenomenon to the 1990s condo bust in Boston.There's also a new element on the blog - the "Realtime chart of the day," which is on the right side of the blog, just below RSS. This will be changed constantly to provide market updates on various South OC cities. Now, on to the post...Two Rancho Santa Margarita properties are for sale that are identical in size and virtually sit next door to each other. Here are the details:Property 1:17 Rana, Rancho Santa Margarita, Calif., 92688Size: 3 beds, 2.5 baths, 1,824 sq ft (built in 1987)MLS: S505077 (11 days on Redfin)Asking price: $659,900Asking price/ sq ft: $362Purchase price: $257,000Purchase date: 7/21/1998Lot size: 6,240 sq ftZestimate: $686,3062006 property taxes: $4,232.00HOA dues: $46.00From listing: Great inter
Update: Still not desperate, "just motivated" 2007-09-24 11:10:00 I featured a Rancho Santa Margarita property at the end of August where the listing description claimed, "Not a short sale-just motivated sellers." The original post appears below this one. By the way, this is the second consecutive property we've profiled with "light and bright" in the description. Can we please stop the insanity?It's now almost month later, and the decidedly not desperate but motivated sellers have still not unloaded their property. The Redfin days on the market count is now 75, and the price has been lowered a whopping $19,100 - all in one price reduction that took place Sept. 11. Old price: $429,000; New price: $409,900. Does this sound like motivation to sell to you?As I said in the original post, the sellers paid $136,000 in 1996, so much of their equity is still theoretically intact. Notice, I said theoretically.ORIGINAL POST:182 Calle De Los Ninos is for sale in Rancho Santa Margarita and has been on Redfin for 51 days. Here are the details:Size: 2 beds, 2.5 Read more:Update
Hiking in the woods? You could be home now! 2007-10-02 17:55:00 For some, this might look like a golden opportunity to be closer to nature in the Cleveland National Forest. For others (including myself), it only looks like a little cabin in the middle of the woods.62 Upper Trabuco, R. Santa Margarita, 92678Asking price: $289,000Asking price/ sq ft: $361Income requirement: $72,250Size: 2 beds, 1 bath, 800 sq ft (built in 1962)MLS: S505195 (19 days on Redfin)2006 property tax: Not listedHOA dues: Ha ha haType: Single Family ResidenceStyle: Other (Yes, that's really what it says)Stories: Split LevelFrom listing (my emphasis in bold): Nestled in the oak and sycamore trees six miles into the cleveland national forest stands a recreational cabin located next to a seasonal running stream which is stocked with trout. With your nearest neighbor 1/4 mile away this fully self-contained cabin offers peaceful serenity. Waterfalls and miles of hiking and mountain bike trails (which connect to the ortegas)await the naturist as well as the athelete in training. Read more:Hiking
35 percent discount in San Juan 2007-10-02 02:01:00 This is a textbook example of what happens when a house is sold at the peak of the market: The previous owner lucks out and cashes in big time, and meanwhile someone is left holding the bag.26547 Calle Santa Barbara #46, San Juan
Capistrano, 92675 Size: 3 beds, 2 baths, 1,011 sq ft (built in 1974) MLS: S499359 (62 days on Redfin) Asking price: $280,000 Asking price/ sq ft: $277Income requirement: $70,000 Purchase price: $430,000Purchase date: 10/4/2006 Other sales history: 5/30/2003: $221,0009/10/1996: $40,5002/27/1996: $51,30012/05/1989 $105,00012/01/1988 $84,500 ZipRealty price tracker: No reductions2006 property tax: $3,222HOA dues: $200 Type: Condominium Style: Spanish Stories: One LevelFrom listing: What a value! Three bedrooms and two baths. Needs some TLC however this upstairs unit has great potential. Large living room, family style eating area ajoining kitchen. Private patio for entertaining. Close to shopping and the quaint town of San Juan and walking distance
Burned by fire sale 2007-10-01 12:39:00 Try to put yourself in the place of the owner of 26966 El Retiro in Mission Viejo (pictured above). They paid $317,000 for this 3-bedroom, 2 bath house in March 2002, and are now hoping to sell it for $619,000. There are also probably a few jokes to be had here with the street name, but we'll leave those alone.They've added granite countertops, maple cabinets and "newer" appliances in the kitchen, plus a new roof, water heater and carpet, among other improvements. So, that should justify their asking price, right? Potential profit (minus 6 percent selling costs) assuming a sale at this price is $264,860. Obviously, it's going to be much less in reality considering the work they've done on the house has no doubt cost a decent amount of money.But, let's assume that despite the repair/upgrade work, they're still in line to make a nice little bit of cash because they didn't tap into their home equity and/or were able to pay cash for the repairs. Perhaps it's time, these owners deci
South OC home stats, Sept. 30 2007-09-30 11:36:00 Here is the South
OC home prices and sales report from today's Orange County Register. These data cover the 22 business days ending Sept. 22. Overall, county home sales decreased 35 percent, and the median sales price was down 4 percent.Some notes on the dataThe "All South OC" median home price used the median of the data (in reality, this is the median of the median, since the original data were median home price in each city). The median was also used to determine percent change in both the price and sales volume. Here are the figures if we used the mean instead:Average of median home prices in past 4 weeks, South OC: $780,401Average percent change in median sale price when compared year-over-year: 3%Average percent change in sales volume, compared year-over-year: -25%What the data are telling us:*Ladera Ranch and Lake Forest appear to have been the worst South County markets during the time this data was collected. Both saw very large dips in both the median home price and sales vo
They just don't get it 2007-09-29 16:50:00 Here's a quick-hit list of local properties that have all been listed on Redfin for laughable amounts of time. Are these owners finally ready to deal, or are they still hoping for buyers to materialize who can pay these high prices? Click on the address to see the complete Redfin listing.26482 El Mar Drive, Mission Viejo, 92691Asking price: $829,000Size: 4 beds, 3 baths, 2,897 sq ft (built in 1969)Days on Redfin: 305Original asking price: $949,000Last sale: $725,000 on 11/16/200415 Calle Gaulteria, San Clemente, 92673Asking price: $1.595 millionSize: 4 beds, 3.5 baths, 3,705 sq ft (built in 2005)Days on Redfin: 200Original asking price: $1.795 millionLast sale: $1,273,500 on 12/17/200431423 S. Coast Hwy #86, Laguna Beach, 92651Asking price: $1.995 million ($1,814 per sq ft!)Size: 1 bed, 1 bath, 1,100 sq ft (built in 1970)Days on Redfin: 526Original asking price: $2.395 millionLast sale: $1.395 million on 1/31/200632501 Vivente De Marlita, S.J. Capistrano, 92675Asking price: $839,990Si
O.C. makes national news! 2007-10-14 13:01:00 Not for the best reasons, though. The Washington Post did a very good story on our local saga with the headline "The O.C. Mortgage Bust." Some excerpts:"'When I started working there (Homefield Financial) in 2003, I was embarrassed because I was driving a Cadillac and the young office clerks were all driving Mercedes and BMWs," said (mortgage manager Tony) Ventimiglio, 49. "There were a lot of people who knew nothing about mortgages. They were simply in the right place at the right time.'"The good times are over for the get-rich-quick industry that grew up in Orange County and thrived in the first half of the decade."When the housing market soured, those lenders and dozens of others nationwide shut down or scaled back, leaving workers like Ventimiglio in the lurch and contributing to an abrupt drop in mortgage-related jobs."...part of Irvine's appeal was cheap and plentiful office space compared with Los Angeles, and an Orange County address that was posh enough to support the high- Read more:makes
Good luck with that 2007-10-12 19:00:00 Despite buying near the peak, at the peak, or just as the real estate market began to fail, these owners have already placed their properties back up for sale.These owners are not looking to barely break even on their purchases. Instead, they're hoping to cash in for a profit. Maybe we'll be proven wrong, and some buyers will come out of the woodwork. Then again, maybe not.31597 Via Cruzada, S.J. Capistrano, 92675 Asking price: $1,775,000Purchase price: $1,369,000Purchase date: 6/1/2004Days since previous sale: 1,228Potential profit (incl. 6% selling costs): $299,500Potential appreciation per day of ownership: $265.51856 Calle Pluma, San Clemente, 92673Asking price: $567,500Purchase price: $494,545Purchase date: 1/9/2006Days since previous sale: 641Potential profit: $38,905Net potential appreciation per day: $60.6929 Abyssinian Wy, Ladera Ranch, 92694Asking price: $1,269,000Purchase price: $846,500Purchase date: 10/21/2004Days since previous sale: 1,086Potential profit: $346,360Net p
Off a cliff in Dana Point 2007-10-12 02:00:00 Yet another example of a beautiful house caught in the middle of unfortunate market timing. The high end is still not and never was immune...34572 Camino Capistrano #D, Dana Point, 92624 Asking price: $1,550,000 Asking price/ sq ft: $419Income requirement: $387,500Purchase price: $1,700,000Purchase date: 5/31/2005Size: 5 beds, 4 baths, 3,700 sq ft (built in 2001) MLS: S499655 (69 days on Redfin) ZipRealty price tracker: Price Reduced: 9/26/07 - $1,899,900 to $1,550,0002006 property tax: $18,585Type: Single Family Residence Style: Traditional Stories: Two LevelsLot size: 6,420 sq ftFrom listing: Experience your senses being fully engaged as you enjoy beach living at its finest from this beautifully one of a kind 'estate property' located on a rare double wide corner lot in capo beach. This exquisite custom home is finished with the finest craftsmanship throughout. Gourmet kitchen with granite counters and commercial grade stainless steel ap
OC RE market: Close to the bottom? 2007-10-11 14:14:00 A recent post appeared on ocrealestateblog.com with the title "Signs that the Orange County Real Estate Market may be close to the Bottom" Here's a link to that entry.The prognostication has probably taken a credibility hit considering on the front page of today's OC Register it mentions how CAR economists are predicting 2008 could be the worst housing market in 25 years...precisely the same time this blog is saying the market could be already back on the way to recovery.Here are the blog post's main points: "Tell-tale sign number one...the subprime lending debacle. A dismal milestone may soon move into the...rear view mirror. Homeowners owing a total of $31.8 billion in subprime adjustable-rate mortgages began paying higher interest rates (in) September...That is the highest amount of subprime ARM's due to reset over a one-month period in this housing cycle."This "rear view mirror" idea is slightly contradicted by the later assertion that "there will be a delayed affect of anywher Read more:Close
File this one under "makes completely no sense" 2007-10-11 02:00:00 The California Association of Realtors' chief economist made a quasi apology about a prediction she made two years ago that "dismissed fears of a bursting California real estate bubble and called for only modest sales declines."In fact, CAR said it predicts prices in California to fall 4 percent in 2008, which would mark the worst year since 1993.As the real estate market here in Southern California continues to slowly implode, this seller in Mission Viejo had an idea. A big idea. A bold idea. Here it is: Buy a modest-looking 25-year-old house. Build on an addition to bring it up to a mind-boggling 7-bedrooms, 7-baths and 2,460 square feet. Then proceed to remodel and overimprove the heck out of it with granite and stainless steel in the kitchen, travertine and tile floors, plus a new roof, carpet and paint.Then, to top it off, set the asking price to $280,900 more than you paid for it in July 2006, which happened to be right as the real estate bubble was beginning to deflate.This sel Read more:makes
, completely
$10 million in price reductions? Believe it! 2007-10-10 12:15:00 Self-billed as "Southern California's most famous equestrian estate," Blenheim Farms in San Juan Capistrano is up for sale. I must confess: I've never heard of the place, but then again, I'm not an equestrian insider.The estate (what else do you call it?) is being sold as two separate parts - a 6.7 acre parcel of land for $9.995 million
(original price
$12.5 million), and a bigger and better 9.6 acre parcel that includes the "main house, 2 guest houses, trainer/staff cottages" for $19.995 million (original asking price was $27.5 million). Total reduction: about $10 million.The two parcels together were/are also priced at $40 million, but since the place has been sitting on the market for more than a year, price cuts have gone into effect Oct. 9. Since the smaller parcel is land only, it doesn't show up in Redfin. If you have a ZipRealty account, you can see it, though.By the way, in case you're ready to cut a check, don't forget that the current taxes are only $47,495 per year o
Rent vs. buy: Aliso Viejo 2007-10-09 02:00:00 30 Trofello Lane in Aliso Viejo is both for sale and listed as a rental as well. The property has been on the market for about five months, so chances are, it's probably listed for more money than buyers are willing to pay, considering its listing description seems to indicate that this is one heck of a place:"Live and enjoy in this highly desirable gated community in aliso viejo. This one of a kind home features dual master suites, two-car direct access garage, professionally landscaped backyard and so much more! Conveniently located near schools, shopping, restaurants, wood canyon trails, toll roads, and parks."Let's assume anyway that the asking price for sale and rent are both right on the money, and let's also assume someone is set on taking possession of the property and is trying to decide whether they should buy it at the full asking price of $515,950, or if they should rent it at the asking rate of $2,150 a month.Total exact monthly costs to rent: $2,150Monthly costs to buy
$225k loser in Coto 2007-10-08 12:27:00 Let's just say this Coto de Caza property is not setting any records for rapid appreciation.9 Sunningdale, Coto de Caza, 92679 Asking price: $1,595,000 Asking price/ sq ft: $399Income requirement: $398,750Size: 4 beds, 4.5 baths, 4,000 sq ft (built in 2001) MLS: S479460 (205 days on Redfin) Purchase price: $1,725,000Purchase date: 3/3/2006 ZipRealty price tracker: Price Reduced: 3/20/07 -- $1,849,000 to $1,795,000 Price Reduced: 4/04/07 -- $1,795,000 to $1,749,000 Price Reduced: 6/14/07 -- $1,749,000 to $1,695,000 Price Reduced: 8/11/07 -- $1,695,000 to $1,595,0002006 property tax: $14,106HOA dues: $200Type: Single Family ResidenceStories: Two LevelsLot size: 8,436 sq ftFrom listing: Stuning 4 bed 4.5 bath home featuring a main floor office and guest suite, large family room with fireplace and built-ins adjacent to the gourmet kitchen with slab granite countertops and Dacor, Bosch, and GE Monogram Ap
Odd/kinda funny RE ads 2007-10-07 15:24:00 Check out the bottom right item "for sale" in the picture above...These five South County real estate ads were all pulled from recent newspapers. Send your own if you've got 'em.In Aliso Viejo: ...Charming patio and grassy lawn in back... In Laguna Hills: Once in a lifetime an entertainer's dreamhome comes along! Almost 1 acre of fun & drama! In Mission Viejo, headline: "Not yet in foreclosure!!" In San Juan Capistrano: $264,900 BANK OWNED PROPERTY! Recently upgraded bank-owned FORECLOSURE. STEAL this home while the market is affordable. It'll openly go up! Great investment for the future In San Clemente: 4 bd, 2.5 ba, huge yard & Disneyland, pool & spa, view.
Latest South County housing numbers 2007-10-06 13:16:00 The Register released the latest numbers from DataQuick on Friday. Here is how South
OC looked for the 22 business days ending Sept. 21. For a complete breakdown of Orange County
by ZIP code, click here to go to the Register article.Scroll down to navigate the spread sheet. Here is a link to the spreadsheet itself.What the data are telling us: *The South OC median is up $10k to $700,000. This number is actually a median of ZIP code medians. The mean of these numbers is $787,921.12. *The number of South OC home sales (616) dropped from the last report by about 5 percent. *The Laguna Beach median took a huge beating. It is now $1 million, down from last time's $1.4 million figure, and down 47.3 percent from last year. Remember that with the small number of sales that took place, this number is easily skewed. *Lake Forest and Ladera Ranch are still having huge problems. Both are seeing at least a 45 percent decline in year-over-year sales volume, and both experienced double-digit
A flippin' good time in Dana Point 2007-10-05 10:21:00 New paint and appliances coupled with a three-and-a-half month turnaround time from the previous sale in June leads me to believe we're looking at a flipper trying to cash in on South OC real estate. Will they succeed?7 Saint John, Dana Point, 92629Asking price: $779,000Purchase price: $630,532Purchase date: 6/15/2007Size: 3 beds, 2.5 baths, 1,967 sq ft (built in 1989)MLS: S507287 (6 days on Redfin)From listing: Great Value! New neutral paint, carpet, tall baseboards, travertine, granite and steel appliances. Shows really well! Priced to sell!! Guard gated community in Monach Beach near St. Regis. Close to beautiful beaches, shopping and resorts."Great value!"? If you consider the current seller paid $148,468 less for this property in June, I'd tend to think they were the one who got the great value.And, is this property really "priced to sell" as its listing claims? The closest comp (7 Antigua - same size) is listed for $839k, so the flipper is looking good there. Wonder if they'r
Quote of the year, revisited 2007-10-04 10:33:00 A while back, I vented on the complete ridiculousness that is "My House Is Worth What?" on HGTV.Well, what do you know...Newsweek columnist Daniel McGinn recently used the show as an lead-in to a very good article about the changing nature of property appraisals and the real estate downturn in general.As the real estate market continues to look gloomier, I couldn't help but rehash the most obnoxious, disturbing, and yet telling exchange I've seen in a while involving an ignorant person's perception of how real estate "investing" works versus reality. An edited piece of the original post appears below. To see the whole thing, click on the link in the first paragraph.Essentially, in "My House Is Worth What?" a RE agent takes a look at a person's house, points out some pluses and minuses, and then tells them what they would list it for.Positive factors the RE agent finds about this particular homeowner's property, located somewhere in LA: There is a guest house on the property that Read more:Quote
Snip, snip...boom 2007-10-03 15:50:00 I was surprised to see how much of a price cut this Aliso Viejo condo took yesterday. Is this a half-hearted attempt to stir up some attention, since the property has been on the market for almost six months? Or, is this a case of the owners finally accepting the realities of today's market, and deciding to cut the price accordingly?We hope the latter is the case, because that could signal that the market might correct a little sooner rather than way later. We'll continue to look for more examples of this type of thing.29 Tradewinds, Aliso Viejo, 92656New asking price: $399,000 ($293 per sq ft)Old Asking price: $479,000Original asking price: $549,000Income requirement: $99,750Size: 3 beds, 2 baths, 1,362 sq ft (built in 1995)MLS: S484082 (168 days on Redfin)Purchase price: $525,000Purchase date: 7/30/2004Other sales history: 5/31/2001: $238,0009/20/1996: $131,0004/26/1993: $161,0002006 property tax: $6,883HOA dues: $185From listing: MUST SELL! MUST SELL! Upgraded Kitchen with Granite
Add one more to the 2003 club 2007-10-19 10:06:00 UPDATE: A bit too good to be true? Yep. A commentor pointed out that the price on this property has already been bumped up to $365k.Here's another '03 rollback condo, this time in Lake Forest, that ns2524 found and posted on over at the Irvine Housing Forums. Since 2003 rollbacks are a rarity out here (will that soon change?), I wanted to take a look at this one too:19525 Arezzo St., Lake Forest, 92679Asking price: $299,000Asking price/ sq ft: $248Income requirement: $74,750 (roughly equal to the OC household median)Purchase price: $334,000Purchase date: 11/26/2003Size: 2 beds, 2.5 baths, 1,205 sq ft (built in 1994)MLS: S509370 (2 days on Redfin)2006 property tax: $4,480HOA dues: $149Type: CondominiumStyle: OtherStories: Two LevelsLot size: 6,696 sq ftFrom listing: * * * * * * * * * * Two Master Suites * * * * * * 2 Car Garage * * * * * * * * *That is perhaps the longest short description I've read. Are asterisks becoming the new exclamation points? By looking at the one small photo
Shall we compare? 2007-10-18 02:00:00 Here is a collection of headlines and snippets from the LA Times (remember the O.C. edition?) during the last real estate bust in the 1990s, in chronological order beginning in 1987 (the market was still on its way up, but there were some telling signs) and ending in 1997 (the bottom).It's interesting to try and connect some of these headlines with some similar types of stories that are beginning to play out today. Also significant is the timing - compared to the past slowdown, this current one we're in seems to have taken far less time in getting from the "sales down but prices up" phase to the "sales and prices both down" state we're at now. Note: Graphic is from Piggington.comNov. 26, 1987Home Resales Drop 13.6% in October, but Median Price Continues Upward"It was the largest decline in Orange County sales of used homes in almost a year, a 13.6% drop in October, contrasted with the year-earlier month, for which the California Assn. of Realtors blamed rising interest rates...But b
RSM condo falls beneath 2003 price 2007-10-17 02:00:00 The OC Register reported that resale condos are seeing the "lowest median since March '05 and 11% off peak hit in March '06. Sales were lowest since February '95 and 54% below the 20-year monthly average."Rancho Santa Margarita (ZIP 92688), which is known for an abundance of packed-in condos, is seeing the correction firsthand. Here's a condo that's rolled back to just beyond its 2003 price
:8 Mirlo #872 beds, 2 baths, 882 sq ftAsking price: $259,900Purchase price: $298,260Purchase date: 1/30/2007Other recent sales history: 12/8/2005: $352,5006/30/2004: $315,00012/24/2003: $260,000Listing description: LOWER CONDO UNIT W/ W/ D HOOK UPS, SMALL PATIO, FIREPLACE, UPDATED KITCHEN W/ NEWER CABINETS. NICE COMPLEX, OVERLOOKS POOL, CARPORT PARKING.Potential loss (incl 6% selling costs): $53,954Potential % decline from last sale (not incl. selling costs): 13%Potential % decline from peak sale in 2005: 26%Good example of a no-frills listing description approach. By taking a look at the sales
Gilded immunity? 2007-10-16 02:00:00 Even some expensive South OC areas like Laguna Beach are finally seeing declines in selling activity and median price (though it may be a better indicator to compare the price of individual houses over time). Here's an example of one neighborhood with a few sellers who refuse to think the real estate party might be over.Hillcrest Estates in Laguna Niguel is a gated community of 2-5 bedroom homes located near the intersection of Highlands Ave. and Niguel Rd. Since this development is only a few years old, many of the current owners either bought just as the market began to take off, or at the peak. There are currently 10 properties in this neighborhood that are active on the MLS, ranging in asking price from $1,175,000 to $1,975,000. Here are the properties for sale with past sale history available on Redfin:23632 Marin Way5 beds, 4.5 bathsAsking price: $1,550,000Asking price/sq ft: $403Previous sales price: $1,248,500Previous sales date: 10/15/2004Potential profit before selling cost
Be grateful you're not a seller in... 2007-10-15 02:00:00 ...Tustin. For the day, we're going to leave South County (aka the bubble within a bubble) and see what's going on in central OC. To sum it up: Things don't look too great there, either.UPDATE: A reader tipped us that this property has undergone yet another price reduction. It's showing up in ZipRealty as $520,000 and on Redfin as a range of $500-520k. I've adjusted the calculations at the bottom to reflect this.1772 Irvine Blvd, Tustin, 92780 Asking price: $500,000-$520,000Asking price/ sq ft: $333Income requirement: $137,500Size: 3 beds, 2 baths, 1,500 sq ft (built in 1956)MLS: S490966 (132 days on Redfin)Purchase price: $690,000Purchase date: 11/22/20052006 property tax: $7,131Type: Single Family ResidenceStyle: RanchStories: One levelLot size: 9,338 sq ftFrom listing: Single Story Ranch Style Home located in a desirable area of Tustin with Spacious Living and Family/Bonus Room, Fitted Kitchen with Dining Area and a Corner Lot with Large Back Yard. This Home has a lot of Potent
It's only money, right? 2007-10-24 02:01:00 Properties like this don't just grow on trees, you know. Unfortunately, neither do these kinds of losses nowadays...27281 Paseo Peregrino, San Juan Capistrano, 92675 Asking price: $1,595,000 Asking price/ sq ft: $380Income requirement: $398,750Purchase price: $1,900,000Purchase date: 9/7/2005Size: 3 beds, 2.5 baths, 4,200 sq ft (built in 1982) MLS: S485973 (175 days on Redfin) ZipRealty price tracker: Price Reduced: 5/25/07 -- $1,949,000 to $1,875,000 Price Reduced: 6/18/07 -- $1,875,000 to $1,775,000 Price Reduced: 8/08/07 -- $1,775,000 to $1,595,0002006 property tax: $20,424Type: Single Family Residence Style: Contemporary Stories: Three or More LevelsLot size: 0.76 acresFrom listing: WORDS CAN'T DESCRIBE THIS UNIQUE & EXCEPTIONALLY PRIVATE ESTATE. THIS OVER 4000 SQ FT HOME W/ 3 BEDROOMS 2.5 BATHS, FORMAL DINNING ROOM AND 3 FIREPLACES. LOCATED ON 33,000 SQ FT W/ FRUIT TREES, FOUNTAINS AND MEA
Not going anywhere 2007-10-23 15:24:00 This Laguna Niguel luxury property is priced $65,000 below what the current owner paid in 2006, but it still looks like the price might have to come down a bit more before it attracts a buyer. It's been four months now, and still no sale...12 Anacapri, Laguna Niguel, 92677 Asking price: $1,250,000Asking price/ sq ft: $408Income requirement: $312,500Purchase price: $1,315,000Purchase date: 4/10/2006Size: 5 beds, 3.5 baths, 3,060 sq ft (built in 1991)MLS: S488340 (159 days on Redfin)ZipRealty price tracker: Price Reduced: 9/14/07 -- $1,410,000 to $1,250,0002006 property tax: $8,240HOA dues: $105Type: Single Family ResidenceStyle: Contemporary/ModernStories: Two LevelsLot size: 5,000 sq ftFrom listing: MODEL PERFECT, MOVE IN READY HOME!! Beautiful 5 BR(4+bonus) home in the resort comm. of Marina Hills. Located on an award winning cul-de-sac, this highly upgraded home features custom paint, Travertine floors & baseboards downstairs, shutters, wrought iron staircase, new carpet, gourme
Prices still retreating in RSM 2007-10-22 11:54:00 Most importantly - thoughts go out to all affected by the fires in Southern California. Thumbs up to the OC Fire Authority, for being diligent in updating its Web site with the latest info, as well as KCAL 9 for its coverage on TV. Also pluses to AM 980 and 1070 on radio. Thumbs down to the OC Register for its limited-at-times coverage, and a Web site that was extremely slow and clunky. We understand it's a Sunday night, but pulling the news from TV for a story happening in your backyard is not good enough.Because diversions can be helpful in times like these, let's profile a deep rollback of a Rancho Santa Margarita condo.81 Pasto Rico, RSM, 92688 Asking price: $399,900 Asking price/ sq ft: $267Income requirement: $99,975Purchase price: $523,000Purchase date: 5/3/2006Size: 3 beds, 3 baths, 1,500 sq ft (built in 1990) MLS: S504239 (46 days on Redfin) ZipRealty price tracker:Price Reduced: 9/8/07 -- $475,000 to $435,000 Price Reduced: 10/10/07 -- $435,000 to $425,00 Read more:Prices
There's more to it 2007-10-21 16:30:00 4 Quebec in Aliso Viejo is located in a gated community called Victoria. On the surface, the owners of this property are in an unfortunate position - they bought during the peak in 2005 and are now needing to sell. Here are some financial details:Asking price: $588,000Asking price/sq ft: $406Purchase price: $611,000Purchase date: 11/9/2005If we were to assume a sale at this price, the loss would be $58,280, assuming 6% selling costs. This is bad enough, but it doesn't tell the whole story. Here is the listing description, with my emphasis in bold:Over $50,000 in recent upgrades. Every light fixture, hardware, all new kitchen cabinets, granite kitchen counters. Cherry wood flooring downstairs, upgraded carpet, all designer paints in warm contemporary colors. Upstairs both bathrooms have granite counters and master has new mirrors, fixtures and cabinets. This home is a must see in a gated community across from award winning oak grove elementary school. Many 'say' turn key but this hom
Recommend Site To A Friend
