Condo in Woodbury

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Wow Shooby, you're quick!

Private remarks:

Starting bid is the listing price. Only the one highest and best offer will be submitted before 1/15/09. (Short sale is subject to bank approval.)

Looks like they have priced this short sale low to get offers. It doesn't sound like the bank has approved a price.
 
Shooby said:
I went with an agent to check this place out today:

http://www.redfin.com/CA/Irvine/39-Costa-Brava-92620/home/12257889

short sale for 360K, it's a detached condo. Place wasn't really well taken care of though. But it's woodbury and the price is decent.

What do you guys think?
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Hello IHB! Long time reader, first time poster. =)

Shooby - what do you mean it wasn't well taken care of? Can you give specifics - was it really that bad?
 
lilbrownjon said:
Shooby said:
I went with an agent to check this place out today:

http://www.redfin.com/CA/Irvine/39-Costa-Brava-92620/home/12257889

short sale for 360K, it's a detached condo. Place wasn't really well taken care of though. But it's woodbury and the price is decent.

What do you guys think?
Click to expand...

Hello IHB! Long time reader, first time poster. =)

Shooby - what do you mean it wasn't well taken care of? Can you give specifics - was it really that bad?
Click to expand...

No, it wasn't that bad. Aside from a few holes in the wall, carpets in dire need of some washing, dirty grout, etc etc. Just aesthetics. But for 360K who am I to complain.

Just have to paint before move-in, with the pink walls and all....
 
Shooby said:
No, it wasn't that bad. Aside from a few holes in the wall, carpets in dire need of some washing, dirty grout, etc etc. Just aesthetics. But for 360K who am I to complain.

Just have to paint before move-in, with the pink walls and all....
Click to expand...

No way you can touch that place for list price... I can 100% positively guarantee that. If you aren't willing to go into the 400's for it, you should just forget it.
 
sonicko said:
That would rent out for about $2200-2400 a month as for that same amount you can get a place at Woodbury Place.
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Sounds about right, probably closer to $2200. The last two Bowen Court 2-bed places leased out at $2K per month and they were the 1000sf model with one less bath.

At a price of $400K even, with 20% down and a 5.25% mortgage rate, the place is still a hundred or two above owner occupied rental parity. Mello roos and HOA on that place are $500 per month...
 
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