Costa Mesa short sale oddity - anyone have any insights??

NEW -> Contingent Buyer Assistance Program
CM_Dude_IHB

CM_Dude_IHB

New member
On June 13, Zip Realty informed me that 2233 Republic Avenue, Costa Mesa, CA 92627 was for sale at $325,000, listed as a short sale. Zillow had it listed for sale at $325,000 also. I promptly drove over there to check it out, and decided against it due to neighbor issues. I can explain more on that note, if anyone is interested.



I continued to watch the property, driving by at different times during the day to see if the neighbor issues existed at all hours, and on 6/26 requested a showing from my agent. I logged back onto Zip 6/27 and the property is now listed at $459,000 - still a short sale.



Anybody have any clues as to what might have happened? It stayed listed at $325,000 for almost two weeks with no takers (or so it would seem). Is it possible that the bank low-balled it to generate interest? Just curious.



Thanks!
 
That's really weird as I never saw it at $325K. It showed up as a new listing on Thursday on the two sites that send me updates for $475K. Based on the last purchase price, I didn't think it was a short sale, but was telling Freedom that they listed just a bit high if they really wanted to sell and that it was nice to see non distressed sellers getting more aggressive in their asking prices. Then the next day it was lowered to $459K and I saw on that foreclosurepoint that it went NT on June 6th.



Being a short sale may explain the laziness of the listing agent... couldn't be bothered to remove the tape and paper from the window she submits as a photo, obviously thinks that the two ceiling fans are the highlight of the home and doesn't even bother to put up a photo of this supposed thousands spent on landscape.



What were the neighbor issues?
 
Stepping,



I have the Zip e-mail showing $325k, but can't quite figure out how to show you.



The house has great curb appeal - if you stand directly in front of it and ignore the place on the left. The landscaping looks great, as does the gate.



The neighbor issues are:



1) Looks like abandoned, rusted out motorhome parked in driveway across the street, along with dead ivy.

2) Next door has multiple work trucks parked everywhere, taking up all curb space, plus run down property.

3) Neighbors directly behind appeared to be hosting a large biker convention. Lots of cars and lots of custom motorcycles, with their owners partying it up. I like quiet.



Granted, this was a snap judgment, they could have been the most respectful, quiet, accomodating, peaceful bikers in CA. Problem is, I lived next door to a similar situation, and the only time I got any sleep was after I called the cops. I will never put myself in that situation again!
 
These neighborhoods are so mixed. You can have a few quiet nicer streets in pockets that you would expect to be the ghetto and then some nicer streets in a better location with some undesirables. We just moved over here from CDM and were surprised that 98% of the time it's quieter here except that you have a lot more helicopter noise. We had a short lived neighbor in CDM who was into the harley thing, revving it up at 7:00 am weekend mornings outside our bedroom window. I thought my husband was going to commit a felony. There was a meth lab busted over on JoAnn not too long ago and I always associate that stuff with bikers. Working class Hispanics don't make me uncomfortable, but Hells Angels kind of people would make me really nervous.
 
I too, do not know how this happens, but I know it's happening. A friend of mine who is looking in the exact same area has been told by his agent not to bother making offers on any short sales in the area because they will never sell for the listed short sale price and you most likely won't get a response for a very long time.
 
[quote author="tmare" date=1214824698]I too, do not know how this happens, but I know it's happening. A friend of mine who is looking in the exact same area has been told by his agent not to bother making offers on any short sales in the area because they will never sell for the listed short sale price and you most likely won't get a response for a very long time.</blockquote>


For fun, you should submit a $1 bid to the bank. It would be even funnier if 100 of us did that.
 
You must log in or register to reply here.
Back
Top