Losses Outside of Irvine

NEW -> Contingent Buyer Assistance Program
Whoa! <a href="http://www.zillow.com/HomeDetails.htm?zprop=25640546">SFR for in Lake Forest</a> went back to the bank for $425k. Last sold 9/06 for $697k
 
<em>"Whoa! <a href="http://www.zillow.com/HomeDetails.htm?zprop=25640546" linkindex="171" set="yes" style="color: brown;">SFR for in Lake Forest</a> went back to the bank for $425k. Last sold 9/06 for $697k"</em>





Zestimate of $705,000 LOL
 
<p><em>"Whoa! </em><a href="http://www.zillow.com/HomeDetails.htm?zprop=25640546"><em>SFR for in Lake Forest</em></a><em> went back to the bank for $425k. Last sold 9/06 for $697k "</em></p>

<p>That must be a 1st payment default too which means the $697K sales price in Sept was likely BS. Sadly it looks like other bought at that same level after, wonder how many buyers unwittingly use strawbuyer purchases for comps on their purchase.</p>

<p> </p>

<p>A quick check on Zillow shows this comp (<a href="http://www.zillow.com/HomeDetails.htm?zprop=25640449">http://www.zillow.com/HomeDetails.htm?zprop=25640449</a>) that is close. Same size, 4/3 like the REPO. It's already at $509K. (Oh shoot, that's another REPO). Oh gawd, the Zestimate is $1,086,072. ROFL</p>
 
<p>Ouch. $220,000 and it hasn't sold yet. Found this checking the above foreclosure, it's near there</p>

<p>Price: $520,000</p>

<p>21101 Wheaton, Lake Forest</p>

<p>Prior Price $740,000, August 2006</p>

<p>Previos March 2004 sales price $515K.</p>

<p>http://www.redfin.com/stingray/do/printable-listing?listing-id=1193338</p>

<p>Double ouch, someone spent money fixing it up!</p>

<p>Also see this one not too far from the above. $485K and it hasn't sold in 83 days. 4/3, 1634sf like the repos. Ouch, that's only a door or two down from the REO buyers place. The guy that bid 55 cents over bank is starting to look like a knife catcher.</p>
 
awgee, I'm a bit ashamed to say we went to see that house in Coto back in the Spring b/c it looked nice from some old pictures (back when the flipper bought it) we found on the internet. There were a lot of people checking it out that first weekend when the bank was accepting offers for it. It had some termite problems and needed lots of updating but I kind of liked it. Also being part of "the Village" of Coto it had no mello roos and very low HOA if I remember correctly. Also our agent told us the bank agent mentioned there were already two good offers in for it - one full price so we shouldn't low-ball it if we really wanted it. We aren't fixer upper people though so we didn't consider it too seriously. Also back then the bank was asking 889k for it I believe. It's fallen out of escrow a couple of times at this point I think.
 
Sales History











<strong>Date</strong>



<strong>Price</strong>



<strong>Appreciation</strong>











04/21/2005



$619,000





30.0%/yr













03/28/2002



$277,000





--














Price: $349,900



<a style="text-decoration: none;" href="http://www.redfin.com/stingray/do/how-you-save?direct-section=buy" linkindex="9" set="yes"> Redfin Savings: $6,998*</a>



23743 Via Alisol



Murrieta, CA 92562















Beds:



5











Baths:



3











Sq. Ft.:



3,283











$/Sq. Ft.:



$107











Lot Size:



6,098 sq. ft.









Property Type:

Single Family Residence, Detached





Year Built:

2002





Stories:

Two Levels





Area:

Murrieta West







County:

Riverside









MLS#:



T07173641











Status:



Active











On Redfin:



1 day















<img style="vertical-align: middle;" src="http://p1.rfimg.us/v4.3.5/images/3_0/power-query/icon_pq_new.gif" alt="" /> New Listing (24 hours)

















Bank Owned. Convenient to shopping, freeway and walk to Cole Canyon Elementary, covered entry with small front porch, kitchen island with separate nook, downstairs den (could be 5th bedroom but no closet), upstairs computer niche and extra walk in linen closet. 3 Car tandem garage.
 
Sales History









<strong>Date</strong>

<strong>Price</strong>

<strong>Appreciation</strong>





10/18/2007

$575,937



-13.0%/yr







10/05/2006

$665,000



26.6%/yr







02/24/2003

$284,000



--









Price: $349,900



<a set="yes" linkindex="9" href="http://www.redfin.com/stingray/do/how-you-save?direct-section=buy" style="text-decoration: none;"> Redfin Savings: $6,998*</a>



23831 Cloverleaf



Temecula, CA 92562











Beds:

4





Baths:

2.25





Sq. Ft.:

2,896





$/Sq. Ft.:

$121





Lot Size:

-





Property Type:

Single Family Residence, Detached





Year Built:

2002





Stories:

Two Levels





Area:

Murrieta West





County:

Riverside





MLS#:

T07173397





Status:

Active





On Redfin:

1 day









<img alt="" src="http://p1.rfimg.us/v4.3.5/images/3_0/power-query/icon_pq_new.gif" style="vertical-align: middle;" /> New Listing (24 hours)













Great bank owned Copper Canyon home. 2896 Sq ft 4 bedroom/3 bath home with 2nd floor homework station. Beautiful kitchen with large granite slab island , 5 burner stove and double wall ovens and lots and lots of cabinets. Master bedroom has his and hers walk-in closets. 2nd floor laundryroom. Nice size backyard. New carpets and paint will bring this home to fabulous!
 
Sales History











<strong>Date</strong>



<strong>Price</strong>



<strong>Appreciation</strong>











03/03/2006



$700,000





26.7%/yr













02/13/2003



$340,000





--














Price: $480,000



<a style="text-decoration: none;" href="http://www.redfin.com/stingray/do/how-you-save?direct-section=buy" linkindex="9" set="yes"> Redfin Savings: $9,600*</a>



23823 Cloverleaf



Murrieta, CA 92562















Beds:



5











Baths:



3











Sq. Ft.:



3,073











$/Sq. Ft.:



$156











Lot Size:



-









Property Type:

Single Family Residence, Detached





Year Built:

2003





Stories:

Two Levels





Area:

Murrieta West







County:

Riverside









MLS#:



I07081195











Status:



Active











On Redfin:



187 days















<img style="vertical-align: middle;" src="http://p1.rfimg.us/v4.3.5/images/3_0/power-query/icon_pq_unsold.gif" alt="" /> Unsold in 90+ days

















This house is beautiful and upgraded. 18inch Italian tile berber carpet, window treatments, granite counter tops island in kitchen, stainless steal appliances, double oven, cherry wood cabinets, spa tub in master. Built in entertainment center, built in tech center. Dream Garage with shelves, work table, epoxy floors. Totally turn key ready to move in now. Gorgeous Large spacious floor plane don't wait. offers subject to lenders approval. GET IT BEFORE IT GOES TO AUCTION FOR MARKET VALUE


 
<p><strong><em><u>GET IT BEFORE IT GOES TO AUCTION FOR MARKET VALUE</u></em></strong> </p>

<p>Did I read that right? It hasn't sold in 187 days so I'm to assume it'll go for MORE at auction? </p>

<p>I lol'd.</p>
 
"Price: $1,299,000

Redfin Savings: $25,980*

31455 LOBO CANYON RD

AGOURA HILLS, CA 91301

Beds: 3

Baths: 3

Sq. Ft.: -

Lot Size: -

Property Type: Single Family Residential

Area: Malibu

County: Los Angeles

MLS#: 07-158177

Status: Active

On Redfin: 312 days

Unsold in 90+ days

SUBJECT TO BANK APPROVAL OF SHORT PAY - Seller spent $$ on beautiful remodel, bamboo & travertine floors, granite center island kitchen, antique finish alder cabinets, hammered copper farmhouse sink, faux walls, master w/marble counters, vessel sinks, steam shower.Lg. fam room w/room for 4th bed. Pool/spa, huge grassy yard, putting green, 2nd garage or could be barn w/corral area, seasonal stream & bridge. Priced below market value for this estate/vineyard area. "http://www.redfin.com/stingray/do/printable-listing?listing-id=473652



Originally listed for $1.9 million, now 32% lower. 312 days on market. Sold for $1,410,000 on 9/1/05. Seller apparently spent several hundred thousand on remodeling, and can't get the same price they paid in 2005, before the remodel.
 
<p>Gosh, now may actually be the time to buy!! After trying to take yet another 10% off, of course.</p>

<p>And I have no idea of the location, but, my lord, the price drops!!</p>
 
Oh dear God...this one has to win some kind of award for worst photo. I'm sure this one will sell...RIGHT! It even comes with an automatic garage door opener and carport!!



35% off 2006 price



http://redfin.com/stingray/do/printable-listing?listing-id=1221438

Price: $349,900

Last Sale: 06/08/2006 $540,000

Redfin Savings: $6,998*

23431 Caminito Partida #197

Laguna Hills, CA 92653

Beds: 3

Baths: 2

Sq. Ft.:1,460

$/Sq. Ft.: $240

Lot Size: -

Type: Condominium

Style: Townhouse

Year Built: 1976

Stories: Two Levels

View(s): Hills, Trees/Woods

Area: Laguna Hills

County: Orange

MLS#: S509673

Status: Active

On Redfin: 50 days
 
42 LAUREL CREEK LANE, Laguna Hills, CA 92653

List Price: $579,000

Last Sale: 09/01/05

Sales Price: $687,000

Bedrooms: 4

Full Baths: 2

Partial Baths: 1

Square Feet: 1,769

Lot Size: 4,567 Sq. Ft.

Year Built: 1984

Listing Date: 12/07/07

On Market: 1 day

Type: SFR

Status: ACTIVE

MLS #: P613239





21709 LAKE VISTA DRIVE, Lake Forest, CA 92630

List Price: $359,000

Last Sale: 01/18/07

Sales Price: $475,000

Bedrooms: 3

Full Baths: 2

Partial Baths: 0

Square Feet: 1,490

Lot Size: 1,364 Sq. Ft.

Year Built: 1972

Listing Date: 12/06/07

On Market: 2 days

Type: CONDO/TH

Status: ACTIVE

MLS #: P613079



19664 ORVIENTO DRIVE, Lake Forest, CA 92679

List Price: $320,000

Last Sale: 08/28/06

Sales Price: $495,000

Bedrooms: 3

Full Baths: 2

Partial Baths: 0

Square Feet: 1,205

Lot Size: N/A

Year Built: 1997

Listing Date: 12/06/07

On Market: 2 days

Type: CONDO/TH

Status: ACTIVE

MLS #: S514804





9 ARABIS COURT #63, Mission Viejo, CA 92694

List Price: $370,000

Last Sale: 10/10/06

Sales Price: $485,000

Bedrooms: 2

Full Baths: 2

Partial Baths: 0

Square Feet: 1,150

Lot Size: N/A

Year Built: 2003

Listing Date: 12/05/07

On Market: 3 days

Type: CONDO/TH

Status: ACTIVE

MLS #: S514766



23526 EL REPOSA, Aliso Viejo, CA 92656**

List Price: $300,000

Last Sale: 03/03/05

Sales Price: $450,000

Bedrooms: 2

Full Baths: 2

Partial Baths: 0

Square Feet: 1,236

Lot Size: 2,446 Sq. Ft.

Year Built: 1971

Listing Date: 12/04/07

On Market: 4 days

Type: CONDO/TH

Status: ACTIVE

MLS #: P612781
 
<p>Is that a camera phone picture? Good luck keeping it at an only 44% loss. Fullerton, I welcome you to the "tanking really badly" club. </p>

<p>2643 West Porter AVE


Fullerton, CA 92833 </p>

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

<p><strong>$/Sq. Ft.: $247</strong></p>

<p>Beds: 4


Baths: 2


Sq. Ft.: 1,415</p>

<p>Sale History:</p>

<strong>07/26/2006 $625,000 </strong>


09/29/2005 $548,000


11/28/2001 $250,000


08/29/1991 $180,000


<p><img alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/819/P612819_0.jpg" /> </p>

<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1330501">http://www.redfin.com/stingray/do/printable-listing?listing-id=1330501</a></p>
 
<p>30% loss.</p>

<p>420 North Wayne AVE


Fullerton, CA 92833 </p>

<p><strong>Price: $410,000</strong></p>

<p><strong>$/Sq. Ft.: $220</strong></p>

<p>Beds: 3


Baths: 2


Sq. Ft.: 1,864</p>

<p>Sale History:</p>

<strong>10/07/2005 $585,000 </strong>


06/19/1992 $185,000

<p><img alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/534/P599534_0.jpg" /> </p>

<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1124793">http://www.redfin.com/stingray/do/printable-listing?listing-id=1124793</a></p>
 
Talk about chasing the market. The price is reduce 7 times in last 4 months.



Price Reduced: 09/26/07 -- $565,000 to $549,900

Price Reduced: 10/14/07 -- $549,900 to $545,000

Price Reduced: 10/24/07 -- $545,000 to $525,000

Price Reduced: 10/30/07 -- $525,000 to $499,000

Price Reduced: 11/20/07 -- $499,000 to $455,000

Price Reduced: 11/28/07 -- $455,000 to $425,000

Price Reduced: 12/07/07 -- $425,000 to $410,000
 
<p>31% loss.</p>

<p>12740 Sycamore ST


Garden Grove, CA 92841 </p>

<p><strong>Price: $399,000</strong></p>

<p>$/Sq. Ft.: $277</p>

<p>Beds: 3


Baths: 2


Sq. Ft.: 1,442</p>

<p>Sale History:</p>

<strong>12/22/2005 $580,000</strong>


07/02/1999 $174,500


<p><img alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/098/P608098_0.jpg" /> </p>

<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1263013">http://www.redfin.com/stingray/do/printable-listing?listing-id=1263013</a></p>
 
<p>IndyMax slashes the REO price. 30% off of the prior high sale. <a href="http://redfin.com/stingray/do/printable-listing?listing-id=1207208">http://redfin.com/stingray/do/printable-listing?listing-id=1207208</a></p>

2119 Wallace AVE

Costa Mesa, CA 92627

Price: $449,900











<strong>Date</strong>

<strong>Price</strong>

<strong>Appreciation</strong>





08/21/2007

$532,683



-9.3%/yr







12/29/2005

$625,000



16.8%/yr







12/24/1998

$210,000



--











<p> </p>

<p>Frankly, if it's a fixer, it probably has another $150,000 to go.</p>
 
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