? about Laguna Niguel listing on Redfin

[Skye Sakamoto_IHB]

Hi. Can someone explain the following to me:

The property at 30522 ESTORIL VIA (Laguna Niguel) is currently listed at $1.1+ on Redfin. According to the sales history, it was purchased in '06 for $1.235 and then again in '07 for $171,896. How is this possible?

Date

Price

Appreciation

05/10/2007

$171,896

-78.0%/yr

01/19/2006

$1,235,000

16.5%/yr

09/30/2002

$745,000

4.1%/yr

08/30/1990

$460,000

10.0%/yr

02/02/1988

$360,000

--

Thanks in advance.

skye

 

[effenheimer_IHB]

Bad data? I see this sometimes on Zillow and Redfin. The $171k might have been a 2nd mortgage or a HELOC. Someone typo'd.

 

[Skye Sakamoto_IHB]

It occurred to me that it might have been a second mortgage or something, since the taxes are supposedly ~ $6,000 per year.

Thanks.

skye

 

[EvaLSeraphim_IHB]

I saw something on Zillow today that had been purchased for $18,000,000 when the surrounding properties were $1.5M to $2.5M. I figured they misplaced the comma and added a zero.

 

[Irvine Soul Brother_IHB]

Eva, the 18M dollar house just probably had upgrades galore! Light and Brite! Gormet kitchen!

 

[EvaLSeraphim_IHB]

No, no. To qualify for the $18M mark, you must use three exclamation points after every description and abbreviate those descriptions so that no one but the REALTOR (TM) knows what they mean.

 

[Trooper_IHB]

and a nook.....or at bare minimum, an alcove.