2003 Prices or Rollbacks

NEW -> Contingent Buyer Assistance Program
Another in Aliso Viejo...



<a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1457396">35 Baneberry</a>

<strong>Asking:</strong> $575k

<strong>Purchase:</strong> $575k in 2003

<img src="http://i-0.rfimg.us/photo/46/bigphoto/608/S520608_0.jpg" alt="" />

<a href="http://www.southoctracker.com/2008/04/its-now-03-rollback-in-aliso.html">Blog post</a>
 
<p>19% less than May 2004 price in Orange. I'll call it 2003.


<p>596 North Rancho Santiago BLVD

Orange, CA 92869 </p>


<p><strong>Price: $420,000</strong></p>

<p>$/Sq. Ft.: $233</p>

<p>Beds: 4

Baths: 2

Sq. Ft.: 1,800

Lot Size: 7,235 sq. ft. </p>


<p>Sale History:</p>

<strong>May 06, 2004 $520,000</strong>

Dec 06, 2004 $575,000

Jan 29, 2008 $486,390

<p><img alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/655/S527655_0.jpg" /> </p>

<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1615474">http://www.redfin.com/stingray/do/printable-listing?listing-id=1615474</a></p>
 
<blockquote>Bank Owned and priced to sell quickly! Steal a large home in excellent area of Orange while it's still available. MUST SEE NOW! Won't last!!! </blockquote>


The bank is the one waving good-bye now. Oops. Their bad.
 
<blockquote>MUST SEE NOW! Won?t last!!!</blockquote>


Maybe this one won't last long - but there will be plenty more to choose from.
 
It may be a foreclosure and not an actual sale, but <a href="http://www.zillow.com/HomeDetails.htm?zprop=25440904">this "North Tustin" home</a> went back to the bank for $495k today. They paid $415k in January of 2001, and used the house as an ATM to have a NTS amount of $764k. Nearly a 2001 rollback, and it kills the $817k zestimate.
 
That house has monster potential for me.



The right neighborhood, the right size, the right number of floors, RV parking...............it's still too high but I can wait.



Thx G.
 
I don't know if this is a 2003 rollback or not, but it is a huge drop. Two other houses on that street are listed for 1.5 million.



<a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1651616"> 20 Silver CRES Irvine, CA 92603</a>



<strong>Price: $799,900</strong>

Beds: 4 On Redfin: 1 day

Baths: 2 Year Built: 1977

SQ.FT.: 2,128 Lot Size: 6,741 sf

$/SQ.FT.: $376 MLS#: S529152

Status: Active

<strong>Last Sale: $1,299,000 (06/08/2007)</strong>

Listing: Re/Max Premier Realty



<img src="http://i-0.rfimg.us/photo/46/bigphoto/152/S529152_0.jpg" alt="" />
 
Thanks! Nude made it for me! Anyhow, on with the rollbacks...



<p>34% less than 2004 price in Tustin. Ouch.


<p>14112 Del Amo AVE

Tustin, CA 92780 </p>


<p><strong>Price: $399,900</strong></p>



<p>$/Sq. Ft.: $256</p>

<p>Beds: 3

Baths: 2

Sq. Ft.: 1,560

Lot Size: 7,906 sq. ft. </p>


<p>Sale History:</p>

Apr 20, 1990 $143,000

Sep 05, 1997 $178,753

Apr 22, 1998 $185,500

<strong>Aug 30, 2004 $610,000 </strong>



<p><img alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/901/P632901_0.jpg" /> </p>

<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1654906">http://www.redfin.com/stingray/do/printable-listing?listing-id=1654906</a></p>
 
27% loss off of 2004 price in Anaheim.



1813 E Arbutus AVE

Anaheim, CA 92805



<strong>Price: $350,000 </strong>



Beds: 3

Baths: 1.75

Sq. Ft.: 1,347

$/Sq. Ft.: $260

Lot Size: 6,885 Sq. Ft.



Sales History

<strong>

Oct 05, 2004 $483,000 </strong>



<img src="http://i-0.rfimg.us/photo/45/bigphoto/052/C08013052_0.jpg" alt="" />



<a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1434961">Redfin Link</a>
 
Don't know if this is 2003 price, but 31% off its Aug 2006 high in Newport Beach



http://www.redfin.com/stingray/do/printable-listing?listing-id=1427899



1814 Irvine AVE Newport Beach, CA 92660

Price: $899,900

Buy with Redfin and Save $17,998*

BEDS: 3

BATHS: 2

SQ. FT.: 2,014

$/SQ. FT.: $447

LOT SIZE: 8,175 Sq. Ft.

TYPE: Single Family Residence

STYLE: Traditional

YEAR BUILT: 1961

STORIES: One Level

AREA: West Bay - Santa Ana Heights

COUNTY: Orange

MLS#: U8000439

STATUS: Active

ON REDFIN: 90 days

UNSOLD IN 90+ DAYS

Bank Foreclosure and they want this sold NOW! Make offer. Charming 3 bedroom, 2 bath home with new upgrades including; flooring, cabinets, granite countertops, stainless steel appliances, fixtures, windows, water heater, furnace and more. Great schools, low tax rate and No Association.



Sales History

Date Price Appreciation

Aug 25, 2005 $950,000 --

Aug 16, 2006 $1,300,000 38.0%/yr

Dec 19, 2007 $1,037,698 -15.5%/yr
 
I have to disagree with your $800s estimate.



Look up and down Irvine ave, and nicer houses were going for $500-$600 in 2001-2002. and traffic has become much worse along Irvine since then.



I think the bank will move it in the high $600s
 
It's clear this winter will will have to rename the thread 2001/2002 Prices or rollbacks.



Personally, I think it will stop there though. The dollar is now only worth 50% of what it was worth in 2000...(heck of a job). Take an Irvine $400k tract home from 2000 ...which should equate to 800k today. The problem is that WAGES have NOT doubled from 2000. lol. If the new president can't stop the runaway inflation which just started, we are going to see even lower prices. I'm hopeful that the dollar can be lifted back...which means no more free money handouts to the banks.
 
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