Bloodbath in Coto de Caza

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Thanks Caliguy.



Wow, I am ashamed to admit we put an offer on 15 Charleston last year. Smaller and worse layout than 17 Charleston but it had better curb appeal and upgrades. Still that part of the golf course was very nice. I can't believe someone paid 1.1M+ in April 2007 for that. 15 Charleston was on the market around that time and ended up going for about 890k in December if memory serves me.
 
[quote author="NewToOC" date=1219214874]Thanks Caliguy.



Wow, I am ashamed to admit we put an offer on 15 Charleston last year. Smaller and worse layout than 17 Charleston but it had better curb appeal and upgrades. Still that part of the golf course was very nice. I can't believe someone paid 1.1M+ in April 2007 for that. 15 Charleston was on the market around that time and ended up going for about 890k in December if memory serves me.</blockquote>
NewToOC, Wow, we could have been neighbors. We put a verbal offer in the same neighborhood a couple of years ago. They were asking 1.3 (overpriced). We verbally offered the realtor 1 million. He took it to the sellers and they basically laughed at us. A few months later, the realtor emailed me and said the sellers would take 1.1. We basically laughed at that. <span style="color: red;"><strong>After two years</strong></span> on the market, the house is still sitting there - at a price of <span style="color: red;"><strong>$989.</strong></span>



PM me if you are ever in the Coto area. We would love to meet you.
 
[quote author="graphrix" date=1218783930][quote author="awgee" date=1218779889][quote author="graphrix" date=1218778577]Someone bought 7 Roberts today at the foreclosure auction for $1.05mil.</blockquote>


Huh? $1.05 mil? It seems to me that 7 Roberts would go for alot more than that. Do you have any more info?</blockquote>


All I can tell you is they rounded up from the $1.049 NTS and minimum bid amoumt.



<a href="http://www.zillow.com/HomeDetails.htm?zprop=54975260">On Zillow it says it is for sale for $1.795mil</a>, but it doesn't show up on RedFin or Zip. But <a href="http://www.redfin.com/CA/Coto-De-Caza/15-Roberts-Dr-92679/home/5823088">15 Roberts is listed for $1.35mil</a>., so picking up 7 Roberts for $1.05 sounds like a decent deal. I bet it was Pacfic Legacy, because they have the funds to buy a place for that much, and that it will be listed in the next 30 days or so.</blockquote>


If it is Pacific Legacy, they are quick:








<a href="http://www.listingbook.com/89?defaults=1&mlno=S544977&use_search_id=1&client;_id=&continue_url=http://www.listingbook.com/cgi-bin/construct.php?node=89&defaults=1&mlno=S544977&use_search_id=1&client;_id=&LBSESSID=279217063-2004056450&a=postlogin&client_width=992&client_height=567">More 7 Roberts</a>




Buy at auction for $1,050,000 and list for $1,329,000 within 8 days. Ya gotta admire the pros.


The listing agent is Debra Kovacs, a full service agent in Coto. Does Pacific Legacy use agents or do they list themselves?
 
[quote author="awgee" date=1219436477][quote author="graphrix" date=1218783930][quote author="awgee" date=1218779889][quote author="graphrix" date=1218778577]Someone bought 7 Roberts today at the foreclosure auction for $1.05mil.</blockquote>


Huh? $1.05 mil? It seems to me that 7 Roberts would go for alot more than that. Do you have any more info?</blockquote>


All I can tell you is they rounded up from the $1.049 NTS and minimum bid amoumt.



<a href="http://www.zillow.com/HomeDetails.htm?zprop=54975260">On Zillow it says it is for sale for $1.795mil</a>, but it doesn't show up on RedFin or Zip. But <a href="http://www.redfin.com/CA/Coto-De-Caza/15-Roberts-Dr-92679/home/5823088">15 Roberts is listed for $1.35mil</a>., so picking up 7 Roberts for $1.05 sounds like a decent deal. I bet it was Pacfic Legacy, because they have the funds to buy a place for that much, and that it will be listed in the next 30 days or so.</blockquote>


If it is Pacific Legacy, they are quick:








<a href="http://www.listingbook.com/89?defaults=1&mlno=S544977&use_search_id=1&client;_id=&continue_url=http://www.listingbook.com/cgi-bin/construct.php?node=89&defaults=1&mlno=S544977&use_search_id=1&client;_id=&LBSESSID=279217063-2004056450&a=postlogin&client_width=992&client_height=567">More 7 Roberts</a>




Buy at auction for $1,050,000 and list for $1,329,000 within 8 days. Ya gotta admire the pros.


The listing agent is Debra Kovacs, a full service agent in Coto. Does Pacific Legacy use agents or do they list themselves?</blockquote>


No, they always list it themselves. So... maybe Debra knows some thing you don't?
 
[quote author="awgee" date=1219436477][quote author="graphrix" date=1218783930][quote author="awgee" date=1218779889][quote author="graphrix" date=1218778577]Someone bought 7 Roberts today at the foreclosure auction for $1.05mil.</blockquote>


Huh? $1.05 mil? It seems to me that 7 Roberts would go for alot more than that. Do you have any more info?</blockquote>


All I can tell you is they rounded up from the $1.049 NTS and minimum bid amoumt.



<a href="http://www.zillow.com/HomeDetails.htm?zprop=54975260">On Zillow it says it is for sale for $1.795mil</a>, but it doesn't show up on RedFin or Zip. But <a href="http://www.redfin.com/CA/Coto-De-Caza/15-Roberts-Dr-92679/home/5823088">15 Roberts is listed for $1.35mil</a>., so picking up 7 Roberts for $1.05 sounds like a decent deal. I bet it was Pacfic Legacy, because they have the funds to buy a place for that much, and that it will be listed in the next 30 days or so.</blockquote>


If it is Pacific Legacy, they are quick:








<a href="http://www.listingbook.com/89?defaults=1&mlno=S544977&use_search_id=1&client;_id=&continue_url=http://www.listingbook.com/cgi-bin/construct.php?node=89&defaults=1&mlno=S544977&use_search_id=1&client;_id=&LBSESSID=279217063-2004056450&a=postlogin&client_width=992&client_height=567">More 7 Roberts</a>




Buy at auction for $1,050,000 and list for $1,329,000 within 8 days. Ya gotta admire the pros.


The listing agent is Debra Kovacs, a full service agent in Coto. Does Pacific Legacy use agents or do they list themselves?</blockquote>


They don't seem that professional.. Excerpt from property description: "Welcome home! This is a very emotional home starting at the curb.." I'm not sure I want an emotional home. What the hell does that even mean? Haunted?
 
[quote author="NewToOC" date=1219450657]They don't seem that professional.. Excerpt from property description: "Welcome home! This is a very emotional home starting at the curb.." I'm not sure I want an emotional home. What the hell does that even mean? Haunted?</blockquote>


It's okay, the home has been on prozac and has stabilized its emotions, much like prices have...
 
[quote author="graphrix" date=1219452393][quote author="NewToOC" date=1219450657]They don't seem that professional.. Excerpt from property description: "Welcome home! This is a very emotional home starting at the curb.." I'm not sure I want an emotional home. What the hell does that even mean? Haunted?</blockquote>


It's okay, the home has been on prozac and has stabilized its emotions, much like prices have...</blockquote>


That's a relief. In addition to prozac it needs a prescription for its "crown mold". Bwahahaha!

Edit: I guess the actual pieces can be called that but it still makes me laugh.
 
[quote author="graphrix" date=1219449668]

No, they always list it themselves. So... maybe Debra knows some thing you don't?</blockquote>


Again, I am lost. What does Ms. Kovacs know that I don't? With no false humility, I know practically nothing about this house or who bought it. I do know that I missed out what seems like a heck of a deal to me. As soon as you wrote about the auction, my first thought was, "That place should go for $1.2 mil or more." Unless the <em>crown mold</em> description is accurate.
 
Assuming they don?t get full list and manage to settle for $1.2M

That?s still one heck of a return.

More so given that we?re in a down market.
 
[quote author="tenmagnet" date=1219462751]Assuming they don?t get full list and manage to settle for $1.2M

That?s still one heck of a return.

More so given that we?re in a down market.</blockquote>


Exactly. Someone knows what they are doing.
 
[quote author="awgee" date=1219463310][quote author="tenmagnet" date=1219462751]Assuming they don?t get full list and manage to settle for $1.2M

That?s still one heck of a return.

More so given that we?re in a down market.</blockquote>


Exactly. Someone knows what they are doing.</blockquote>




I agree, very nice move.

Must admit, while reading that wished it were me.

Let me know if you see another like it, maybe we?ll go 50-50 on it.
 
[quote author="awgee" date=1218319139][quote author="awgee" date=1215116735]Sometimes you read something and you figure, naw, I must be misunderstanding something.


But, then you realize, no, some people are just ...


26 Sawgrass, zip code 92679, lowered their asking price by $1. Yup, $1.


I think the realtor is also the owner. What is it they say about folks who represent themselves in court?


If someone knows how to set up a poll, it would be fun to speculate how long this one will languish on the market.


http://www.redfin.com/CA/Coto-De-Caza/26-Sawgrass-92679/home/5019816</blockquote>


This time the owner/realtor of 26 Sawgrass is getting bold. They are lowering the listing price by $100. I wonder if the owner/realtor will ever figure out that real estate is decreasing in price and if they listed their property at a competitive price, it might sell? Naw, the comparatives may have decreased in price, but not theirs.</blockquote>


OMG! Only a realtor! The realtor/owner of 26 Swagrass lowered the listing price by about $10,000 last week and lowered it by another $100 this week. Those amounts aren't even enough to give them credit for chasing the market down. I can just see them explaining to their wife, "The market's going to turn around any day now. Gary Watts says the OC economy is going to take off."
 
Maybe someone ought to offer $866,499 - one dollar off the 3/7/2003 purchase price! ;)



Hmm... then again... maybe that's too high an offer and the seller will accept!
 
I dunno. Maybe somebody thought this was a good time to start flipping residential real estate?




Purchased on 01-10-2008 for $2,600.000 and now listed at $2,795,000.




Or they bought this place and changed their minds? Or realized the payments were large? I dunno.




<a href="http://www.redfin.com/CA/Coto-De-Caza/17-Long-View-Rd-92679/home/5822780">17 Longview</a>




Or maybe a friend ought to clue them in and let them know the market has turned down?
 
[quote author="checkinitout" date=1216250562][quote author="awgee" date=1215927109]The bank is serious about unloading this lead weight. The listing price on 23302 Via Pardal is lowered again to $614,850 from $627,396. That is $195 per sq. ft. in Coto.




And I Fee-e-e-el good.</blockquote>


Inasmuch as 23302 Via Pardal is loaded with mold, water damage (downstairs flooded after last rain), wood rot and potential structural issues, not to mention infested with ants, spiders, termites, bats and bees (live beehive inside...enter at own risk!), what's the cost to bulldoze? What's the lot worth?</blockquote>


Listing price is now lowered to $602,553, or $191 per square foot.
 
Hehehehe... <a href="http://mortgage.freedomblogging.com/2008/08/30/foreclosure-of-the-week/">the foreclosure of the week over at the OCR is in Coto</a>.
 
What's the story on 23302 Via Pardal ? We are interested but are now scared by the mold issue. Can ANYONE give us some quality information? Thanks.
 
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