50% Loss in Real Estate (or more)

NEW -> Contingent Buyer Assistance Program
57% off in San Juan Capistrano.

This is a 2001 rollback.

29425 Avocado Ln San Juan Capistrano, CA 92675

Price: $275,000

Date Event Price Appreciation Source

Dec 22, 2008 Price Changed $275,000 -- SoCalMLS #S532153

Nov 21, 2008 Price Changed $299,900 -- SoCalMLS #S532153

Nov 05, 2008 Price Changed $319,900 -- SoCalMLS #S532153

Oct 27, 2008 Price Changed $329,900 -- SoCalMLS #S532153

Oct 15, 2008 Price Changed $330,000 -- SoCalMLS #S532153

Oct 07, 2008 Price Changed $344,000 -- SoCalMLS #S532153

Sep 21, 2008 Price Changed $369,900 -- SoCalMLS #S532153

Aug 27, 2008 Price Changed $379,000 -- SoCalMLS #S532153

May 11, 2008 Listed $399,000 -- SoCalMLS #S532153

Apr 26, 2006 Sold $640,000 18.5%/yr Public Records

Mar 22, 2001 Sold $270,000 5.0%/yr Public Records

Apr 28, 1992 Sold $175,000 -- Public Records
 
love it. 300yds from the 5, patio furniture indoors, tiny lot, and a short sale. talk about crap.

wait for the reo, its coming soon.
 
336 W Santa Fe Ave Placentia, CA 92870

Price: $189,900 sold Feb 08, 2007 $480,000

Beds: 2

Baths: 1

Sq. Ft.: 619

$/Sq. Ft.: $307

Lot Size: 2,500 Sq. Ft.

P669111_1.jpg
 
ABC123 said:
412 N SABINA St Anaheim, CA 92805

Price: $199,900 Sold: May 31, 2006 $475,000

Beds: 2

Baths: 1

Sq. Ft.: 1,055

$/Sq. Ft.: $189

Lot Size: 2,893 Sq. Ft.

Style: Ranch

Year Built: 1916

Lender owned sold in as is condition (see agent remarks and please follow them)

P670756_0.jpg
Click to expand...

Anyone with access to the MLS want to tell us what the agent remarks are? I hate it when they do that. Is it something like "place is trashed, won't qualify for loan so buyer must be all cash"
 
stepping_up said:
Anyone with access to the MLS want to tell us what the agent remarks are? I hate it when they do that. Is it something like "place is trashed, won't qualify for loan so buyer must be all cash"
Click to expand...

stepping - it's nothing so sinister...

Priv Rmks : Combo (omitted) Present offer to L/A deposit check, pre qual from DIRECT LENDER ONLY, NO BROKERED OR DU ONLINE APPROVALS ACCEPTED. All buyers must be pre qualified by (omitted) , call xxx-xxx-xxxx Sellers choice of services, email only complete offer with all of the above required to jerry@ (omitted) .com incomplete offers will be returned for completion; we can not submit incomplete offers and do not store them. Fax okay if you don't know how to scan, fax must be very readable

I have sympathy for some of the REO agents that are asked to cover two dozen listings, all of which are supposed to be maintained, tended, and protected, and receive the ugliest, least-professional offers. They then get paid at 1/5th the normal rate and put their own expenses into utilities, hoping to be reimbursed if they have followed all of the rules. I think specific instructions like this save them time and get banks better, comparable offers to review.
 
hr96170556-1.jpg


hr96170556-5.jpg


For Sale, Bank Owned

1901 W Greenleaf E

Anaheim, Ca

Crostreets: La Palma / Euclid

2 bed

2 bath

2 car detached

approx 1,200 sq.ft.

History

For Sale: $149k (days on the market: 1)

4-28-2006: $419,000

9-26-2003: $237,000

12-29-2000: $137,000

5-25-1999: $110,000
 
I'm discovering that 50% off or more in Anaheim is pretty normal. I consider posting some that I've found and then decide against it since they aren't very noteworthy anymore.

Welcome to the happiest place on earth!
 
ABC123 said:
Can someone please explain to me how anyone could pay half a million dollars for a 600sqft shack with a view of a big wall?
Click to expand...

'cause they were priced out of the 1100 sq/ft shack in the ghetto that was $650K.
 
ABC123 said:
Can someone please explain to me how anyone could pay half a million dollars for a 600sqft shack with a view of a big wall?
Click to expand...

The wall is a full guarantee that no bullets are coming from that direction. It is a perfect gangster house with just a little frontage to defend. The tile wainscot outside is for deflecting bullets.
 
stepping_up said:
P670756_0.jpg
Click to expand...

i love how this house has a satellite dish on the roof, but the grass is disheveled and the "as is" listing indicates the inside is likely a hot mess as well. the previous owner probably could not live without DirecTV... but maintaining your home, making mortgage payments, and general fiscal responsibility? well, those things are optional.
 
acpme said:
stepping_up said:
P670756_0.jpg
Click to expand...

i love how this house has a satellite dish on the roof, but the grass is disheveled and the "as is" listing indicates the inside is likely a hot mess as well. the previous owner probably could not live without DirecTV... but maintaining your home, making mortgage payments, and general fiscal responsibility? well, those things are optional.
Click to expand...

I don't think the dish people actually come pick up the dishes when people stop paying. My niece, very irresponsible, stopped paying hers and cancelled and no one ever came out to get it. The house we bought in Paso in Nov '07 had a satellite dish on it, but it hadn't been inhabited for 8 months. The guy who tried to flip it rented it out and the tenants were surprised when they had to move after only being there a few months. Maybe they ordered the satellite?
 
51% off peak. I knew something was amiss when ghetto-boxes like this were going for 600 grand.

742 W Rosslynn Ave

Fullerton, CA 92832

Price: $289,900

Beds: 3

Baths: 2

Sq. Ft.: 1,570

$/Sq. Ft.: $185

Lot Size: 7,616 Sq. Ft.

Property History

Mar 31, 2009 Price Changed $289,900 -- SoCalMLS #P674263

Mar 30, 2009 Relisted -- -- SoCalMLS #P674263

Mar 26, 2009 Off Redfin -- -- SoCalMLS #P674263

Feb 06, 2009 Price Changed $299,900 -- SoCalMLS #P674263

Feb 03, 2009 Listed $324,900 -- SoCalMLS #P674263

Jul 02, 2008 Sold $334,800 -44.2%/yr Public Records

Jul 03, 2007 Sold $600,000 7.9%/yr Public Records

May 10, 2005 Sold $510,000 18.5%/yr Public Records

Dec 24, 1998 Sold $173,000 2.5%/yr Public Records

Aug 30, 1994 Sold $155,500 -- Public Records

http://media.cdn-redfin.com/photo/46/bigphoto/263/P674263_0.jpg

http://www.redfin.com/CA/Fullerton/742-W-Rosslynn-Ave-92832/home/3173432
 
caycifish said:
51% off peak. I knew something was amiss when ghetto-boxes like this were going for 600 grand.

742 W Rosslynn Ave

Fullerton, CA 92832

Price: $289,900

Beds: 3

Baths: 2

Sq. Ft.: 1,570

$/Sq. Ft.: $185

Lot Size: 7,616 Sq. Ft.

Property History

Mar 31, 2009 Price Changed $289,900 -- SoCalMLS #P674263

Mar 30, 2009 Relisted -- -- SoCalMLS #P674263

Mar 26, 2009 Off Redfin -- -- SoCalMLS #P674263

Feb 06, 2009 Price Changed $299,900 -- SoCalMLS #P674263

Feb 03, 2009 Listed $324,900 -- SoCalMLS #P674263

Jul 02, 2008 Sold $334,800 -44.2%/yr Public Records

Jul 03, 2007 Sold $600,000 7.9%/yr Public Records

May 10, 2005 Sold $510,000 18.5%/yr Public Records

Dec 24, 1998 Sold $173,000 2.5%/yr Public Records

Aug 30, 1994 Sold $155,500 -- Public Records

http://media.cdn-redfin.com/photo/46/bigphoto/263/P674263_0.jpg

http://www.redfin.com/CA/Fullerton/742-W-Rosslynn-Ave-92832/home/3173432
Click to expand...

Something was seriously amiss when this one sold almost exactly one year later for 44% less. What is up with that? Did we drop 44% from 7/07 to 7/08? Who lost this money, the bank or the seller? And what exactly caused the next seller to choose to sell exactly 7 months later at a loss? The current bagholder is the one who bought for 44% less and still can't sell for close to 20% off of the price they bought it for.
 
Corona Del Mar... less than 2003 price... no even less. Half off of the 2007 price, nah... almost 60% off.

I give you the $599k REO condo south of the highway in CDM.

http://media.cdn-redfin.com/photo/46/bigphoto/239/S569239_0.jpg

http://media.cdn-redfin.com/photo/46/bigphoto/239/S569239_1_0.jpg

http://media.cdn-redfin.com/photo/46/bigphoto/239/S569239_2_0.jpg

Hey Dimmy2, is this one of those deals that will make you rich? Eh, nevermind, you would have said buy it for $1.4mil with an option ARM. Yeah... f&*k you.

Apr 01, 2009 Listed $599,900 -- SoCalMLS #S569239

Jan 21, 2009 Sold $709,750 -28.8%/yr Public Records

Jan 22, 2007 Sold $1,400,000 >1,000%/yr Public Records

Aug 30, 2006 Sold $83,500 -51.3%/yr Public Records

Jun 09, 2003 Sold $850,000 -- Public Records
 
acpme said:
stepping_up said:
P670756_0.jpg
Click to expand...

i love how this house has a satellite dish on the roof, but the grass is disheveled and the "as is" listing indicates the inside is likely a hot mess as well. the previous owner probably could not live without DirecTV... but maintaining your home, making mortgage payments, and general fiscal responsibility? well, those things are optional.
Click to expand...

Basically every single REO I've seen has one of those sat dishes (either DirecTV or Dish Network) left over on the roof. It's gotten to be a joke between me and my realtor. Doesn't anybody subscribe to cable? Plus, don't the sat companies want their freaking dishes back?

As for the "as is", basically all REOs are like that. It's not indicative of the condition of the house. They could be perfect inside, or completely trashed.
 
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