2003 Prices or Rollbacks

NEW -> Contingent Buyer Assistance Program
This property is due west of Disneyland maybe 200 yards.



I wouldn't be so concerned about the powerlines. The fireworks 120 or so nights a year..........would drive me nuts.



They bother me over in Orange.
 
I currently live 1 mile from the park, and we are sometimes annoyed by the noise from the fireworks. I'm not sure how I'd feel living right underneath them.
 
<p>36% loss from 2004 sale price, so again I'll assume that it's at the 2003 price or earlier. That is one hell of a price reduction! </p>

<p>570 North NOBLE


Orange, CA 92869</p>

<p><strong>Price: $380,000 </strong></p>

<p>Price Reduced: 01/08/08 -- $650,000 to $610,000


Price Reduced: 02/18/08 -- $610,000 to $380,000</p>

<p>$/Sq. Ft.: $224</p>

<p>Beds: 4


Baths: 2


Sq. Ft.: 1,694


Lot Size: 6,901 Sq. Ft. </p>

<p>Sale History:</p>

<strong>Jul 30, 2004 $600,000 </strong>

<p> </p>

<p><img alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/922/P612922_0.jpg" /> </p>

<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1330835">http://www.redfin.com/stingray/do/printable-listing?listing-id=1330835</a></p>
 
I don't think they're expecting to sell at that price. I suspect this is to effectively put it up for auction so the owners can get a price and get out.
 
looks like the financial tsunami wave is headed from inland to the coast. Unfortunately it will crest and break on all those expensive beach cities.
 
A couple grand off a 2003 rollback in La Habra...





<img width="200" height="133" alt="" src="http://i-0.rfimg.us/photo/45/bigphoto/106/W07173106_0.jpg" />


<a href="http://redfin.com/stingray/do/printable-listing?listing-id=1330916"><strong>301 N Hazel St</strong></a>


<strong>Asking price:</strong> $299,900


<strong>Purchase price: </strong>$296,545


<strong>Purchase date:</strong> 9/16/03


<strong>Description: </strong>PERFECT FOR THAT FIRST TIME BUYER WHO IS LOOKING FOR THAT DIAMOND IN THE ROUGH. A CHANCE TO OWN A HOME IN A LOCATION LIKE LA HABRA THIS IS A NICE HOME WALKING DISTANCE FROM EVERY THING YOU WOULD NEED. NOTE THIS IS A SHORT SALE
 
<p>30% loss for the bank, and also less than 2003 price. Check out how often this place changed hands! </p>

<p>1619 West 12th ST


Santa Ana, CA 92703 </p>

<p><strong>Price: $349,900 </strong></p>

<p>$/Sq. Ft.: $231</p>

<p>Beds: 4


Baths: 2


Sq. Ft.: 1,517


Lot Size: 6,122 Sq. Ft. </p>

<p>Sale History:</p>

Jan 20, 1988 $122,000


Jan 11, 1989 $145,000


Oct 18, 1990 $189,000


Dec 06, 1996 $179,309


Jun 03, 1997 $114,000


Dec 03, 1997 $163,000


Jul 03, 2001 $220,000


Oct 21, 2002 $270,000


<strong>Nov 04, 2003 $355,000 </strong>


Aug 10, 2007 $500,138

<p><img alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/775/S509775_1.jpg" /> </p>

<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1221890">http://www.redfin.com/stingray/do/printable-listing?listing-id=1221890</a></p>
 
Wow $181 per square foot on that first one...no doubt these kind of places are seeing the worst of it right now - especially Lake Forest, San Juan and RSM. Even some Mission Viejo as well.
 
Here is one for Irvine:








<a href="http://www.redfin.com/stingray/do/printable-property?external_id=5887703"> 5 LADYPALM IRVINE, CA 92618</a>






Sales History







<thead>



Date



Price



Appreciation



</thead>









Jun 27, 2003



$539,000





--













Apr 20, 2006



$719,000





10.8%/yr













Jun 20, 2007



$603,500





-13.9%/yr













Jan 04, 2008



$488,500





-32.3%/yr






 
So far most 2003 roll backs have been either old smaller houses or conods. This particular one is 3 story one. Does that mean SFH will be next soon?
 
<p>I've been watching this house in Lake Forest for a while:</p>

<p><img style="WIDTH: 365px; HEIGHT: 266px" height="345" width="460" alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/971/S501971_1.jpg" /></p>

<p>Paid $840K in August of 2004. $670K list as of today... Using Case-Shiller valuation, this is an October 2003 roll-back. It's been priced dropped from $750K to $670K over the past four months.</p>

<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1065199">http://www.redfin.com/stingray/do/printable-listing?listing-id=1065199</a></p>
 
Oh so tempting Stuff. I need to resist the urge and wait to see what happens in Irvine. These kind of values will always be there in the outlying areas. Heck, they are bound to get even cheaper relative to Irvine...
 
That property's in Foothill Ranch, so it's in a good area as well. Very family friendly. The commute is a killer, though, unless you don't care about taking the toll road every day.





It's also tempting to also look at places out in RSM (<a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1376423">like this one for $530k</a>, see image below - not the best exterior color IMO), since you can get even more for your $. Really far out there and bad rush hour traffic, though.





<img width="300" height="225" src="http://i-0.rfimg.us/photo/46/bigphoto/768/S516768_0.jpg" alt="" />
 
<img width="250" height="188" src="http://bp1.blogger.com/_myLEkrGij5A/R9wxKE_jIkI/AAAAAAAABs4/-2TmorudELY/s320/av031508.jpg" alt="" />


<a href="http://www.southoctracker.com/2008/03/back-to-03-in-aliso-viejo.html">Just posted on</a> this property in Aliso...<a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1496656">asking price is about $9k above the 2003 price</a>. 4/3, 2,200 sq ft.
 
<p><img style="WIDTH: 296px; HEIGHT: 213px" height="243" alt="" width="332" src="http://i-0.rfimg.us/photo/46/bigphoto/231/S520231_1.jpg" /></p>

<p>This one in the same AV neighborhood is following along right behind Tanglewood.</p>

<p>May 2006 purchase almost $1.1M. Asking $825K now...</p>

<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1448648">http://www.redfin.com/stingray/do/printable-listing?listing-id=1448648</a></p>

<p>Our friends offered them $950K back in the summer and they wouldn't go below $1M. Whoops...</p>
 
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