Losses Outside of Irvine

NEW -> Contingent Buyer Assistance Program
<p>50% off sale</p>

<p>3512 PIERCE ST, Riverside, CA 92503


List Price: $323,900


Last Sale: 05/11/06


Sales Price: $607,000


Bedrooms: 5


Full Baths: 3


Partial Baths: 0


Square Feet: 2,704


Lot Size: 20,908 Sq. Ft.


Year Built: 1946


Listing Date: 06/06/07


On Market: 188 days


Type: SFR


Status: ACTIVE


MLS #: I07083718 </p>

<p>27502 LOS BANOS, Mission Viejo, CA 92691**


List Price: $475,000


Last Sale: 09/30/05


Sales Price: $599,000


Bedrooms: 3


Full Baths: 2


Partial Baths: 0


Square Feet: 1,120


Lot Size: 6,050 Sq. Ft.


Year Built: 1977


Listing Date: 12/07/07


On Market: 1 day


Type: SFR


Status: ACTIVE


MLS #: P613275


</p>
 
LawyerLiz, the price drops look so attractive because the disconnect between fundamental values was so wide to begin with. You can look at just about any house that went for $600k to $700k in 2005-2006and find that the same house or a comparable house went for $250k or so around 2002-2003.





I am fortunate to be in a field that pays very well and am able to afford houses priced at their bubble peaks with a traditional loan. I moved here in the middle of 2005, and though I could have afforded to buy a 1200 square foot 50 year old house for $700k, I just couldn't see myself paying that much money for that little house. ( A 1 bedroom condo would have run about $400 to $450k at that point in time)





While the price drops are impressive, there is still a fundamental disconnect between the price you have to pay and what a property is actually worth here.
 
<p>21% loss in Orange. </p>

<p>1800 E MADISON


Orange, CA 92867</p>

<p><strong>Price: $474,900</strong></p>

<p>$/Sq. Ft.: $369</p>

<p>Beds: 4


Baths: 2


Sq. Ft.: 1,287</p>

<p>Sale History:</p>

08/22/2007 $501,500


<strong>09/01/2006 $605,000 </strong>


<p><img alt="" src="http://i-0.rfimg.us/photo/44/bigphoto/363/S959363_0.jpg" /> </p>

<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1339927">http://www.redfin.com/stingray/do/printable-listing?listing-id=1339927</a></p>
 
Here's <a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1271716">another one</a> in Orange (30% loss from peak). This one feeds into Villa Park HS.





2906 North Santa Fe PL


Orange, CA 92865


Beds: 3


Baths: 2.5


Sq. Ft.: 1,700


$/Sq. Ft.: $276





Type: Single Family Residence


Year Built: 1998





<strong>The purchase for 675K on 6/29 was 100% financing. The bank took it back for 527K on 5/14.


It is taking back-up offers (the asking price was 470K). If it sold for that, the bank lost 30% plus the cost of commission.</strong>





05/14/2007 $527,000 -24.7%/yr


06/29/2006 $675,000 20.6%/yr


09/21/2004 $485,000 16.9%/yr


09/27/2000 $260,000 8.8%/yr


06/25/1998 $215,000 Purchased new






 
<p>I'll add another one to the parade of losses in Orange today. Check out the brand new kitchen!</p>

<p>1622 East Baldwin AVE


Orange, CA 92865 </p>

<p><strong>Price: $494,900</strong></p>

<p>$/Sq. Ft.: $306</p>

<p>Beds: 3


Baths: 2


Sq. Ft.: 1,617</p>

<p>Sale History:</p>

<strong>07/29/2005 $620,000</strong>


06/01/1995 $205,000


<p><img alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/416/P613416_0.jpg" /> </p>

<p><img alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/416/P613416_1_0.jpg" /> </p>

<p><img alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/416/P613416_2_0.jpg" /> </p>

<p><img alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/416/P613416_3_0.jpg" /> </p>

<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1339163">http://www.redfin.com/stingray/do/printable-listing?listing-id=1339163</a></p>
 
<p>Wow. Just...wow. That is a reality check if I ever saw one. 31% loss if it sells.</p>

<p>7233 East Wrangler CIR


Orange, CA 92869 </p>

<p><strong>Price: $650,000</strong></p>

<p>Price Reduced: 05/01/07 -- $1,125,000 to $1,075,000


Price Reduced: 10/20/07 -- $1,079,000 to $650,000 </p>

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

<p>Beds: 4


Baths: 2.5


Sq. Ft.: 2808


Lot Size: 10,296 sq. ft. </p>

<p>Sale History:</p>

<strong>06/29/2006 $952,000</strong>


05/19/2000 $411,500


<p><img alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/899/P572899_1.jpg" /> </p>

<p><img alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/899/P572899_4_1.jpg" /> </p>

<p><img alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/899/P572899_9_1.jpg" /> </p>

<p><img alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/899/P572899_5_1.jpg" /> </p>

<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=670215">http://www.redfin.com/stingray/do/printable-listing?listing-id=670215</a></p>
 
<p>Price: $474,900 <strong>(-38.7% from 2007 / -28.5% from 2006 / -2% from 2003)</strong></p>

<p> Sale History:</p>

<p>







01/18/2007

$775,000











05/08/2006

$665,000











11/20/2003

$485,000













</p>

<p>







Beds:

4





Baths:

3





Sq. Ft.:

1,800





$/Sq. Ft.:

$264





Lot Size:

4,300 sq. ft.





Type:

Single Family Residence





Style:

Traditional





Year Built:

1998





Stories:

Two Levels





Area:

Rancho Santa Margarita North





County:

Orange





MLS#:

S507917





Status:

Active





On Redfin:

74 days







</p>

<p>http://redfin.com/stingray/do/printable-listing?listing-id=1186042</p>
 
Surprised to find these over in cdm...





<a href="http://redfin.com/stingray/do/printable-listing?listing-id=1313838">Price: $724,900</a>


Last Sale: $749,000 (02/07/2005)





<a href="http://redfin.com/stingray/do/printable-listing?listing-id=1304850">Price: $1,485,000</a>


Last Sale: $1,515,000 (04/04/2006)


<a href="http://redfin.com/stingray/do/printable-listing?listing-id=1221668">Price: $2,750,000</a>


Last Sale: $2,750,000 (11/18/2005)





<a href="http://redfin.com/stingray/do/printable-listing?listing-id=1058870">Price: $1,099,000</a>


Last Sale: $1,650,000 (09/06/2005)
 
Hollywood Hills dive bomb....on Redfin for 130 days and counting. Original price $1,038,000....yours now for the low, low price of $875,000....you think you guys have it bad price wise ? Check out this 2 bd, 1 ba depreciating asset...... <a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1248215">3395 TARECO DR, Hollywood Hills, CA, $875,000 Real Estate</a> or if that link doesn't work <a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1248215">http://www.redfin.com/stingray/do/printable-listing?listing-id=1248215</a>
 
<a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1133836">Below 2002 price in Escondido</a>...



Sales History









<strong>Date</strong>

<strong>Price</strong>

<strong>Appreciation</strong>





07/24/2006

$692,810



12.0%/yr







09/20/2002

$448,000



>1,000%/yr














<strong>Price: $433,500


</strong>



<a set="yes" linkindex="9" href="http://www.redfin.com/stingray/do/how-you-save?direct-section=buy" style="text-decoration: none;"> Redfin Savings: $8,670*</a>



2101 SUNSET DR



Escondido, CA 92025











Beds:

3





Baths:

2.5





Sq. Ft.:

3,300





$/Sq. Ft.:

$131





Lot Size:

0.51 acres





Lot:

More than .25, Up to and Including .50 Acres





PROPERTY TYPE:

Single Family Detached, Fee Simple





YEAR BUILT:

1959





STORIES:

2 Story





SUBDIVISION:

Rancho Rincon





County:

San Diego





MLS#:

076073560





Status:

Active





On Redfin:

94 days









<img alt="" src="http://p1.rfimg.us/v4.3.6/images/3_0/power-query/icon_pq_unsold.gif" style="vertical-align: middle;" /> Unsold in 90+ days













Lender owned, large family home on 1/2 acre located off a country scenic drive w/ parklike setting & mature trees, with close proximity to North County Fair, downtown Escondido, & I-15
 
<p><a href="http://www.signonsandiego.com/news/business/20071217-9999-bn17prices.html">http://www.signonsandiego.com/news/business/20071217-9999-bn17prices.html</a></p>

<p>SAN DIEGO – Home prices in San Diego County tumbled nearly 10 percent last month from year-ago levels, taking the median down to $440,000, the lowest in more than three years, DataQuick Information Systems reported Monday. </p>

<p>The latest price represents a 15 percent fallback from the all-time record of $517,500 set in November 2005. It was a bigger decline than the 11.7 percent peak-to-trough drop from 1992 to 1996, when the San Diego economy slid into a deep, prolonged recession. </p>
 
<p><strong>How's $600K for a loss?</strong> </p>

Price: $1,799,000

123 7th

Huntington Beach, CA 92648

http://redfin.com/stingray/do/printable-listing?listing-id=1015143

Sales History: 7/21/2006, Price $2,445,000



Okay, I doubt the single unit is taking the loss, but West HB, is actually got more stuff for sale than Northpark.



Trying to figure out the losses is near impossible since so much modification was done. Half the places don't even list a prior sale since they are the result of a split lot where they'd buy a shack and build mega silver homes. They're all for sale now. 129 in this area of the map set at 600 foot scale. Northpark has 110 in the same size area. <a href="http://redfin.com/stingray/do/listings-search#residential=true&condo=true&lat=33.66449654977503&long=-118.00500869750978&zoomLevel=15">http://redfin.com/stingray/do/listings-search#residential=true&condo=true&lat=33.66449654977503&long=-118.00500869750978&zoomLevel=15</a>

<p> </p>

<p><strong>Maybe 2002 sales prices are better?</strong></p>

I also doubt the sales numbers are right for this one. <a href="http://redfin.com/stingray/do/printable-listing?listing-id=1311999">http://redfin.com/stingray/do/printable-listing?listing-id=1311999</a>



Price: $2,099,000

113 18th ST

Huntington Beach, CA 92648

Prior Sale: 12/03/2002, $2,400,000.





<p>But that would be a 2002 sales price if right and not for multiple units. Oh, and isn't the big empty spot between the ocean and it now being build by something big courtesy of the downtown HB revitalization?</p>
 
<p>How about 35% off March 2006 pricing in Mission Viejo? <a href="http://redfin.com/stingray/do/printable-listing?listing-id=1221490">http://redfin.com/stingray/do/printable-listing?listing-id=1221490</a></p>

<p>Price $625,000. </p>

<p>26802 Trasmiras </p>

<p>Mission Viejo, CA </p>

<p>Sales History</p>



<p>







<strong>Date</strong>

<strong>Price</strong>

<strong>Appreciation</strong>





06/06/2007

$808,961



-11.5%/yr







03/23/2006

$937,500



6.9%/yr







03/04/1988

$282,000



--









</p>

<p> </p>

<p>Looks like the bank is going to eat 25% and $185,000 + commission. That was the bank in June right?</p>

<p>Or is this a two time loser in less than two years?</p>
 
<p>Ouch, here the bank is looking to eat $304,566 plus commission in Ladera. </p>

<p>Not bad on taking it back at $1.25M. Roughly 25% loss.</p>

<p>20 Foliate Way, Ladera Ranch.</p>

<p>http://redfin.com/stingray/do/printable-listing?listing-id=1346353</p>

<p>Looks like original sale was $1.1M or so. Current price $929K. I think they'll bargain though.</p>

<p> </p>

<p>How about 30% off of 2005 prices? 17 Chadron Cir. </p>

<p>Current sale price $385K, prior 2005 sale $539K. Ouch, losing $150K plus commission on a $550K purchase hurts.</p>

<p><a href="http://redfin.com/stingray/do/printable-listing?listing-id=1341399">http://redfin.com/stingray/do/printable-listing?listing-id=1341399</a></p>

<p> </p>

<p>Okay, my schadenfreund is spent for today. hopefully.</p>

<p> </p>
 
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