no_vaseline_IHB
New member
I thought you'd get a bang out of that one.
Losses Outside of Irvine
- Thread starter CalGal_IHB
- Start date
NEW -> Contingent Buyer Assistance Program
southoctracker_IHB
New member
52% off a Mission Viejo condo...the asking price is now only $22,500 off the 2002 sales price
<a href="http://redfin.com/stingray/do/printable-listing?listing-id=1238641">Redfin listing</a>
<strong>Asking price: </strong>$222,500
<strong>Purchase price: </strong>$460,000
<a href="http://www.southoctracker.com/2008/02/52-off-in-mission-viejo.html">Blog post on said rollback</a>
<a href="http://redfin.com/stingray/do/printable-listing?listing-id=1238641">Redfin listing</a>
<strong>Asking price: </strong>$222,500
<strong>Purchase price: </strong>$460,000
<a href="http://www.southoctracker.com/2008/02/52-off-in-mission-viejo.html">Blog post on said rollback</a>
no_vaseline_IHB
New member
When did Mission Viejo become subprime Santa Ana and Anacrime?
southoctracker_IHB
New member
<em>When did Mission Viejo become subprime Santa Ana and Anacrime?</em>
I don't know, but the carnage over there is pretty palpable.
I don't know, but the carnage over there is pretty palpable.
AV Paperboy_IHB
New member
<p>Here is a fun one in AV;</p>
<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1359841">Redfin Link</a></p>
<p><strong>Asking price: </strong>$200,000
<strong>Purchase price: </strong>$329,000 in August 2006</p>
<p>This would be a 43% loss in 18 months after factoring in a 6% commission. They have reduced the price 5 times by a total of $125k since listing on 12/25, although if I remember correctly this had been listed before and pulled off right before the holidays. </p>
<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1359841">Redfin Link</a></p>
<p><strong>Asking price: </strong>$200,000
<strong>Purchase price: </strong>$329,000 in August 2006</p>
<p>This would be a 43% loss in 18 months after factoring in a 6% commission. They have reduced the price 5 times by a total of $125k since listing on 12/25, although if I remember correctly this had been listed before and pulled off right before the holidays. </p>
southoctracker_IHB
New member
I've driven by that complex before...I thought it was an apartment complex until I saw the for sale signs. Interesting mix of carports, garages and "garages" that are really covered parking spots with no doors.
southoctracker_IHB
New member
<a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1487597">Another rollback in CdM</a>...
<img width="200" height="150" src="http://i-0.rfimg.us/photo/46/bigphoto/823/U8000823_0.jpg" alt="" />
<strong>Asking price:</strong> $1,495,000
<strong>Purchase price:</strong> $1,800,000
<strong>Purchase date: </strong>12/3/07
<img width="200" height="150" src="http://i-0.rfimg.us/photo/46/bigphoto/823/U8000823_0.jpg" alt="" />
<strong>Asking price:</strong> $1,495,000
<strong>Purchase price:</strong> $1,800,000
<strong>Purchase date: </strong>12/3/07
caycifish_IHB
New member
<p>Sure, it's only a 12% loss in Brea...but off the 2004 price.</p>
<p>731 East Candlewood ST
Brea, CA 92821 </p>
<p><strong>Price: $439,999 </strong></p>
<p>$/Sq. Ft.: $292</p>
<p>Beds: 4
Baths: 2
Sq. Ft.: 1,505
Lot Size: 6,000 sq. ft. </p>
<p>Sale History:</p>
Sep 25, 1998 $220,000 --
<strong>Jun 17, 2004 $500,000</strong>
<p>
<img alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/904/P623904_0.jpg" /> </p>
<p> </p>
<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1503272">http://www.redfin.com/stingray/do/printable-listing?listing-id=1503272</a></p>
<p>731 East Candlewood ST
Brea, CA 92821 </p>
<p><strong>Price: $439,999 </strong></p>
<p>$/Sq. Ft.: $292</p>
<p>Beds: 4
Baths: 2
Sq. Ft.: 1,505
Lot Size: 6,000 sq. ft. </p>
<p>Sale History:</p>
Sep 25, 1998 $220,000 --
<strong>Jun 17, 2004 $500,000</strong>
<p>
<img alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/904/P623904_0.jpg" /> </p>
<p> </p>
<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1503272">http://www.redfin.com/stingray/do/printable-listing?listing-id=1503272</a></p>
Vinster_IHB
New member
41% off 2006 price
Original buyer in 1988 wouldn't have broke even until 1997. 1997 buyer made out like a bandit. 2005 buyer sold just in time.
29432 Kensington Dr
Laguna Niguel, CA 92677
Price: $635,000
Beds: 4
Baths: 3
Sq. Ft.: 2,238
$/Sq. Ft.: $284
Lot Size: 6,440 Sq. Ft.
Type: Single Family Residence
MLS#: S523258
Status: Active
On Redfin: 1 day
Sales History
Date Price Appreciation
Nov 15, 1988 $274,500 --
Feb 22, 1993 $257,523 -1.5%/yr
Jul 23, 1993 $195,000 -49.0%/yr
Sep 03, 1997 $280,000 9.2%/yr
Jun 16, 2005 $975,000 17.4%/yr
Dec 28, 2006 $1,089,000 7.5%/yr
http://www.redfin.com/stingray/do/printable-listing?listing-id=1514168
Original buyer in 1988 wouldn't have broke even until 1997. 1997 buyer made out like a bandit. 2005 buyer sold just in time.
29432 Kensington Dr
Laguna Niguel, CA 92677
Price: $635,000
Beds: 4
Baths: 3
Sq. Ft.: 2,238
$/Sq. Ft.: $284
Lot Size: 6,440 Sq. Ft.
Type: Single Family Residence
MLS#: S523258
Status: Active
On Redfin: 1 day
Sales History
Date Price Appreciation
Nov 15, 1988 $274,500 --
Feb 22, 1993 $257,523 -1.5%/yr
Jul 23, 1993 $195,000 -49.0%/yr
Sep 03, 1997 $280,000 9.2%/yr
Jun 16, 2005 $975,000 17.4%/yr
Dec 28, 2006 $1,089,000 7.5%/yr
http://www.redfin.com/stingray/do/printable-listing?listing-id=1514168
caycifish_IHB
New member
<p>Update on the East Wrangler, Orange property:</p>
<p>It sold for a 26% loss.</p>
<p>Sold For: $700,000 (01/03/2008) </p>
<p>May 19, 2000 $411,500
<strong>Jun 29, 2006 $952,000</strong>
Jan 03, 2008 $700,000
</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>It sold for a 26% loss.</p>
<p>Sold For: $700,000 (01/03/2008) </p>
<p>May 19, 2000 $411,500
<strong>Jun 29, 2006 $952,000</strong>
Jan 03, 2008 $700,000
</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>
graphrix_IHB
New member
Sales History
Date Price Appreciation
Nov 15, 1988 $274,500 --
Feb 22, 1993 $257,523 -1.5%/yr - <strong>Notice the dead cat bounce? 1993 was when the Fed lowered rates, and people thought the market was coming back. </strong>
Jul 23, 1993 $195,000 -49.0%/yr
Sep 03, 1997 $280,000 9.2%/yr
Jun 16, 2005 $975,000 17.4%/yr
Dec 28, 2006 $1,089,000 7.5%/yr
Date Price Appreciation
Nov 15, 1988 $274,500 --
Feb 22, 1993 $257,523 -1.5%/yr - <strong>Notice the dead cat bounce? 1993 was when the Fed lowered rates, and people thought the market was coming back. </strong>
Jul 23, 1993 $195,000 -49.0%/yr
Sep 03, 1997 $280,000 9.2%/yr
Jun 16, 2005 $975,000 17.4%/yr
Dec 28, 2006 $1,089,000 7.5%/yr
halfnote19_IHB
New member
<p><em>Is this for real? </em>Everything around it is selling for 590,000 to 615,000</p>
Price: $374,500
Beds:
3
<img alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/857/R711857_5.jpg" />
Baths:
2
Sq. Ft.:
1,407
$/Sq. Ft.:
$266
Lot Size:
7,840 Sq. Ft.
Type:
Single Family Residence
Style:
Spanish
Year Built:
1971
Stories:
One Level
View(s):
Canyon
County:
Orange
MLS#:
R711857
Status:
Active
On Redfin:
125 days
<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1243435">http://www.redfin.com/stingray/do/printable-listing?listing-id=1243435</a></p>
<p>
Sales History
Date
Price
Appreciation
Aug 02, 2007
$560,000
</p>
Price: $374,500
Beds:
3
<img alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/857/R711857_5.jpg" />
Baths:
2
Sq. Ft.:
1,407
$/Sq. Ft.:
$266
Lot Size:
7,840 Sq. Ft.
Type:
Single Family Residence
Style:
Spanish
Year Built:
1971
Stories:
One Level
View(s):
Canyon
County:
Orange
MLS#:
R711857
Status:
Active
On Redfin:
125 days
<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1243435">http://www.redfin.com/stingray/do/printable-listing?listing-id=1243435</a></p>
<p>
Sales History
Date
Price
Appreciation
Aug 02, 2007
$560,000
</p>
southoctracker_IHB
New member
Yep that's for real and it's also quite funny since it was <a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1512362">just re-listed on Redfin</a>. Good to know the previous listing is still showing up. Good for them that they took down some of the photos that used to be with the listing and showed the remodeling. I have one still up with the blog post I did in January <a href="http://www.southoctracker.com/2008/01/flippin-for-in-laguna-niguel.html">here</a>.
halfnote19_IHB
New member
<p>Do you think they would actually accept an offer at that listing price?</p>
<p>Or do you think they are just hoping people will have a bidding war?</p>
<p>Or do you think they are just hoping people will have a bidding war?</p>
southoctracker_IHB
New member
At this point they might just want to cut their losses and get the heck out of there - perhaps they want to try and start a bidding war but they will probably be receiving lowball offers. Wonder what the lender has to say, assuming there is a mortgage(s) on this place.
caycifish_IHB
New member
<p>25% loss in Fullerton</p>
<p>2012 W Woodcrest AVE
Fullerton, CA 92833 </p>
<p><strong>Price: $385,000 </strong></p>
<p>$/Sq. Ft.: $244</p>
<p>Beds: 3
Baths: 2
Sq. Ft.: 1,578
Lot Size: 6,601 sq. ft. </p>
<p>Sale History:</p>
<strong>Feb 02, 2005 $515,000 </strong>
<p>
<img alt="" src="http://i-0.rfimg.us/photo/45/bigphoto/556/M07160556_1_0.jpg" /> </p>
<p> </p>
<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1270253">http://www.redfin.com/stingray/do/printable-listing?listing-id=1270253</a></p>
<p>2012 W Woodcrest AVE
Fullerton, CA 92833 </p>
<p><strong>Price: $385,000 </strong></p>
<p>$/Sq. Ft.: $244</p>
<p>Beds: 3
Baths: 2
Sq. Ft.: 1,578
Lot Size: 6,601 sq. ft. </p>
<p>Sale History:</p>
<strong>Feb 02, 2005 $515,000 </strong>
<p>
<img alt="" src="http://i-0.rfimg.us/photo/45/bigphoto/556/M07160556_1_0.jpg" /> </p>
<p> </p>
<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1270253">http://www.redfin.com/stingray/do/printable-listing?listing-id=1270253</a></p>
caycifish_IHB
New member
<p>Sucks to be Anaheim: 48% loss </p>
<p>1600 W Crone AVE
Anaheim, CA 92802 </p>
<p><strong>Price: $417,000 </strong></p>
<p>$/Sq. Ft.: $219</p>
<p>Beds: 3
Baths: 1.75
Sq. Ft.: 1,908
Lot Size: 0.39 Acres </p>
<p>Sale History:</p>
Apr 26, 1996 $215,000
<strong>Sep 12, 2006 $800,000</strong>
<p>
<img alt="" src="http://i-0.rfimg.us/photo/45/bigphoto/510/I08009510_0.jpg" /> </p>
<p> </p>
<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1416573">http://www.redfin.com/stingray/do/printable-listing?listing-id=1416573</a></p>
<p>1600 W Crone AVE
Anaheim, CA 92802 </p>
<p><strong>Price: $417,000 </strong></p>
<p>$/Sq. Ft.: $219</p>
<p>Beds: 3
Baths: 1.75
Sq. Ft.: 1,908
Lot Size: 0.39 Acres </p>
<p>Sale History:</p>
Apr 26, 1996 $215,000
<strong>Sep 12, 2006 $800,000</strong>
<p>
<img alt="" src="http://i-0.rfimg.us/photo/45/bigphoto/510/I08009510_0.jpg" /> </p>
<p> </p>
<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1416573">http://www.redfin.com/stingray/do/printable-listing?listing-id=1416573</a></p>
graphrix_IHB
New member
Matt Padilla is doing round <a href="http://mortgage.freedomblogging.com/2008/03/04/reo-smackdown-ii/">two of his REO smack down</a>. Here is the comment I left, that is waiting for moderation (too many links)...
Matt,
<p>Here are the Redfin links for the properties…</p>
<p><a href="http://redfin.com/stingray/do/printable-listing?listing-id=1514144" rel="nofollow">Tangerine Place</a>, it sold for $950k in Feb. of 2006, then Citi took it back for $808k. Ouch, and there are six other homes listed on Tangerine, all are $1.198mil and above. Granted they are all larger homes, but the lowest sqft. price is $281 a sqft. Wow, I just checked the 2003 price was $647k, and adjusted for inflation the $769k price is almost the same as 2003. </p>
<p><a href="http://redfin.com/stingray/do/printable-listing?listing-id=1475073" rel="nofollow">Raintree Drive</a>, Wells took this one back for $368k, and it still needs work IMO. There was another home that sold for $477k on Raintree in December, but it sold for $580k in Feb. of 2006. Right in line with the DQ percentage drop of 20%.</p>
<p>The one on Swallow doesn’t appear to be on the MLS. But, the <a href="http://redfin.com/stingray/do/printable-property?external_id=5803768" rel="nofollow">Redfin info</a> makes it seem like B of A took it back for $650k in June of 2006. Again, this one sold for $522k in 2003, and it is only about $20k above the inflation adjusted price.</p>
Matt,
<p>Here are the Redfin links for the properties…</p>
<p><a href="http://redfin.com/stingray/do/printable-listing?listing-id=1514144" rel="nofollow">Tangerine Place</a>, it sold for $950k in Feb. of 2006, then Citi took it back for $808k. Ouch, and there are six other homes listed on Tangerine, all are $1.198mil and above. Granted they are all larger homes, but the lowest sqft. price is $281 a sqft. Wow, I just checked the 2003 price was $647k, and adjusted for inflation the $769k price is almost the same as 2003. </p>
<p><a href="http://redfin.com/stingray/do/printable-listing?listing-id=1475073" rel="nofollow">Raintree Drive</a>, Wells took this one back for $368k, and it still needs work IMO. There was another home that sold for $477k on Raintree in December, but it sold for $580k in Feb. of 2006. Right in line with the DQ percentage drop of 20%.</p>
<p>The one on Swallow doesn’t appear to be on the MLS. But, the <a href="http://redfin.com/stingray/do/printable-property?external_id=5803768" rel="nofollow">Redfin info</a> makes it seem like B of A took it back for $650k in June of 2006. Again, this one sold for $522k in 2003, and it is only about $20k above the inflation adjusted price.</p>
southoctracker_IHB
New member
Pretty significant drop in Newport...
<img width="150" height="100" alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/806/L24806_1_0.jpg" />
<strong><a href="http://redfin.com/stingray/do/printable-listing?listing-id=1274029">12 Shellprint CT</a>,Newport Beach, CA 92663</strong>
<strong>Asking price: </strong>$695,000
<strong>Purchase price: </strong>$828,000 (11/17/05)
BTW, this discount is off the original purchase price when the house was new in 05, if Zillow is accurate.
<img width="150" height="100" alt="" src="http://i-0.rfimg.us/photo/46/bigphoto/806/L24806_1_0.jpg" />
<strong><a href="http://redfin.com/stingray/do/printable-listing?listing-id=1274029">12 Shellprint CT</a>,Newport Beach, CA 92663</strong>
<strong>Asking price: </strong>$695,000
<strong>Purchase price: </strong>$828,000 (11/17/05)
BTW, this discount is off the original purchase price when the house was new in 05, if Zillow is accurate.