CalGal_IHB
New member
I heard they had a terrible problem with mold. I think the HOA sued the builder, so their HOA reserve is low.awgee said:
Bloodbath in Coto de Caza
- Thread starter muffdaddy_IHB
- Start date
NEW -> Contingent Buyer Assistance Program
I agree with you on the grout - hate cleaning it!
I told the agent that I was surprised that it sold for $1.2 last year. He said the owner got caught up in an investment with a real estate agent that went bad.
Open House is Sunday from 1-5 if you want to take a look.
Michael Krieg is having the open house.
I took a peek...the dead bugs at the entrance are actually bat feces (look up over the door in the evening). The bees are inside the wall of the master closet on the third floor. Talked to a neighbor...apparently the property was vacant for quite some time because a previous owner had died inside (fell down some stairs). I'd say that 200k is a conservative estimate of the repairs needed.
Talk about chasing the market down. I wonder if they realize that if they really lowered the price, they might actually sell it and get much more than if they keep lowering it by token amounts. Probably not, cuz isn't that what denial is all about?
Lowered by another $10,000 to $1,065,000. That is less than 1%.
Do you think maybe they will chase it all the way to the bottom? Or until the bank takes it?
CalGal_IHB
New member
I actually like the stainless steel appliances now that I found a cleaner that works good and doesn't streak.awgee said:
I agree with you on the grout - hate cleaning it!
CalGal_IHB
New member
3 Pine Valley, Coto
Here is a house that just came on the market yesterday (9/18/08) for $804,900.
It's now bank owned.
The owners bought it for $1,200,000 on 8/2/07.
That's a quick loss of $400k (-33%) in a year!
Here is a house that just came on the market yesterday (9/18/08) for $804,900.
It's now bank owned.
The owners bought it for $1,200,000 on 8/2/07.
That's a quick loss of $400k (-33%) in a year!
CalGal_IHB
New member
Yeah, the agent just called me. He said the owner tried to sell it as a short sale. Now the bank owns it.awgee said:
I told the agent that I was surprised that it sold for $1.2 last year. He said the owner got caught up in an investment with a real estate agent that went bad.
Open House is Sunday from 1-5 if you want to take a look.
Michael Krieg is having the open house.
trabucodom_IHB
New member
Me and my wife did a drive-by of the 23302 Pardal property about 3 weeks ago. When we arrived there was a tree trimming crew doing some work and the door to the home was open so we went it.
The initial impression was pretty dismal. You walk about a stairs that is in disrepair to the entrance on the 2nd level. There were a million dead bugs at the doorstep and a scraweled paper message that said the place was infested with bees, enter at your own risk. But it appeared that the bees were already exterminated. The place looked old and dilapdated. The carpet was pulled up in a couple places to reveal rot. Even though the pics on the MLS looked ok, those must have been the only good pics possible for the home. The kitchen was on this level and was very tiny for such a huge home.
Stairs led down to 2 master bedroom with huge old sunked tubs in their bath...I am guessing by the look of the place that this area might have been rented out seperatel because it looked like it also had a private entrance and another room that may have been an improvised kitchen. If you go to the third floor there was another master bedroom. By this point I was just glossed over by the big influx of cash this place would need to fix and update everything, including moving walls for updating the kitchen area. Unless you have an extra 200k minimum to update a place, or have lots of good connections, then this place is not for you.
The initial impression was pretty dismal. You walk about a stairs that is in disrepair to the entrance on the 2nd level. There were a million dead bugs at the doorstep and a scraweled paper message that said the place was infested with bees, enter at your own risk. But it appeared that the bees were already exterminated. The place looked old and dilapdated. The carpet was pulled up in a couple places to reveal rot. Even though the pics on the MLS looked ok, those must have been the only good pics possible for the home. The kitchen was on this level and was very tiny for such a huge home.
Stairs led down to 2 master bedroom with huge old sunked tubs in their bath...I am guessing by the look of the place that this area might have been rented out seperatel because it looked like it also had a private entrance and another room that may have been an improvised kitchen. If you go to the third floor there was another master bedroom. By this point I was just glossed over by the big influx of cash this place would need to fix and update everything, including moving walls for updating the kitchen area. Unless you have an extra 200k minimum to update a place, or have lots of good connections, then this place is not for you.
awgee said:
checkinitout_IHB
New member
trabucodom said:
I took a peek...the dead bugs at the entrance are actually bat feces (look up over the door in the evening). The bees are inside the wall of the master closet on the third floor. Talked to a neighbor...apparently the property was vacant for quite some time because a previous owner had died inside (fell down some stairs). I'd say that 200k is a conservative estimate of the repairs needed.
CalGal_IHB
New member
. . . and still sitting.awgee said:
awgee_IHB
New member
Hmm-m-m-m, I need a bit of help to figure this out.
Original sale of $935,000 on Oct. 18, 2002
Listed at $1,459,000 on May 19, 2008
Reduced to $1,448.000 on June 17, 2008
Reduced to $1,428,000 on July 15, 2008
SOLD on Aug. 21, 2008 for $1,785,000 ? To whom? The second holder?
Stll listed and reduced to $1,388,000 on Sep. 15, 2008
Reduced to $1,299,000 on Sep. 25, 2008
Any thoughts?
Huh?
Original sale of $935,000 on Oct. 18, 2002
Listed at $1,459,000 on May 19, 2008
Reduced to $1,448.000 on June 17, 2008
Reduced to $1,428,000 on July 15, 2008
SOLD on Aug. 21, 2008 for $1,785,000 ? To whom? The second holder?
Stll listed and reduced to $1,388,000 on Sep. 15, 2008
Reduced to $1,299,000 on Sep. 25, 2008
Any thoughts?
Huh?
awgee_IHB
New member
awgee_IHB
New member
According to Redfin, there are 13 homes for sale in Coto with a listed price of $5,000,000 or more. And 3 homes for sale with a price of $4,999,000.
I have been told that in the whole history of homes being sold in Coto, about 25 years, 8 homes have sold for $5,000,000 or more. I do not have the resources to verify this, but does anybody else? If true, it would seem to indicate that the $5,000,000 and above listings may be on the market for awhile.
I have been told that in the whole history of homes being sold in Coto, about 25 years, 8 homes have sold for $5,000,000 or more. I do not have the resources to verify this, but does anybody else? If true, it would seem to indicate that the $5,000,000 and above listings may be on the market for awhile.
awgee_IHB
New member
Is something fishy going on here?
Date Price Appreciation
Apr 01, 1991 $385,000
--
Sep 28, 1994 $385,000
0.0%/yr
Sep 12, 1997 $355,500
-2.7%/yr
Jun 19, 1998 $390,000
12.8%/yr
Aug 26, 1999 $549,000
33.4%/yr
Apr 30, 2004 $1,035,000
14.5%/yr
Jan 26, 2007 $975,000
-2.2%/yr
Feb 02, 2007 $1,000,000
274.7%/yr
15 Seacliff
Calgal, do you remember when this home was for sale not to long ago. I never looked at it. $700,000 still seems like too much considering it backs up to Vista del Verde.
Date Price Appreciation
Apr 01, 1991 $385,000
--
Sep 28, 1994 $385,000
0.0%/yr
Sep 12, 1997 $355,500
-2.7%/yr
Jun 19, 1998 $390,000
12.8%/yr
Aug 26, 1999 $549,000
33.4%/yr
Apr 30, 2004 $1,035,000
14.5%/yr
Jan 26, 2007 $975,000
-2.2%/yr
Feb 02, 2007 $1,000,000
274.7%/yr
15 Seacliff
Calgal, do you remember when this home was for sale not to long ago. I never looked at it. $700,000 still seems like too much considering it backs up to Vista del Verde.
awgee_IHB
New member
awgee said:
Talk about chasing the market down. I wonder if they realize that if they really lowered the price, they might actually sell it and get much more than if they keep lowering it by token amounts. Probably not, cuz isn't that what denial is all about?
Lowered by another $10,000 to $1,065,000. That is less than 1%.
Do you think maybe they will chase it all the way to the bottom? Or until the bank takes it?
usctrojanman29_IHB
New member
A 10,000 sqft lot, nice. But the house is probably worth less than $700k.awgee said: