Losses Outside of Irvine

NEW -> Contingent Buyer Assistance Program
'04 rollback in CdM. Massive desperation apparent with offer of car...

Date Price Appreciation

12/03/2007 $1,800,000 18.1%/yr

12/17/2004 $1,100,000 18.7%/yr

04/12/2002 $695,000 12.8%/yr

09/21/1994 $280,000 --



????????????CHEAPEST NEW CONDO IN CDM FOR YEARS 2004 PRICES HERE ON NEW CONDO. OPPORTUNITY HERE in cdm to buy at a never to be repeated price. BRAND NEW CUSTOM CONDO rooftop deck . vaulted ceilings, stone floors, AIR CONDITIONED huge master suite, direct garage acces all appliances inc washer /dryer BRING TOOTH BRUSH. DID I SAY NEW NEW NEW. price includes new street leagl electric car registered on the road car is in garage. your choice of HOT ROD OR ESCALADE
 
It's possible it could be a re-fi that accidentally showed up as a transaction...I've seen those before. The way the description is written makes it sound like the owners are the ones who bought in 2004.
 
Why does that show a $1.8M sale in December? Clerical screw-up?

That was probably the sale price before the split the lot. In 2004 it probably wasn't a condo. There was a lot of this going on in CDM, and it looks like the panic is starting to set in. Oh... poor Jimmy.
 
My mom lives in Central California and the homes there are still affordable, but have also dropped in price. She lives in a new development and we visited some of the model homes in the communities next to her. One of the models we saw was absolutely gorgeous. It was approximately 3,000 sq. ft., 4 bedroom, 3 bath, 3 car garage with an expansive driveway. The architecture was also nice, with a large open floor plan. When it first opened, the starting price was in the mid-400s. Now, they are going for mid to high 300s. If we lived there, we'd buy for sure. It's such an amazing deal.
 
LOL...you are right about the job market and the weather. As far as the people, I think it's hit or miss. I think it highly depends on the neighborhood and people that you are friends with. The area she lives in reminds me very much of South OC, though not as cookie cutter.
 
Nice summary of LA listing price drops at LA land

Listing prices now 105K below peak

http://latimesblogs.latimes.com/laland/2008/02/listing-prices.html
 
KD_B,

I lived there for 31 years. I lived in nice areas, poor areas, town, countryside..............all the pepole suck there.

If you think OC is materialistic, you haven't seen anything till you move there. There's nothing like seeing your neighbor buy a new car, and hear the other nabors chat about:

"Well.......it must be nice to be rich."

Nosiest people I've ever seen - anywhere. I'm so happy to live here where you might care about the things you have, but your neighbors certainly aren't, and if they are, they are polite enough not to let you know about it.
 
caycifish:

Here's your neighbor to 1931 East Mount Vernon.

http://www.trulia.com/homes/California/Orange/sold/5368648-2017-E-MOUNT-VERNON-AVE-ORANGE-CA-92867

2017 East Mount Vernon Avenue, Orange CA 92867

Last listed at $450K.

There are 10 homes on this street that are either real inventory of 'phantom' inventory that is for sale but not currently listed. And this is a fairly short street!

update: This property has been pulled, but I'm not suprised. It's has had four agents over the last 24 months so I'm certain it'll be relisted here shortly.
 
11% loss from 2004 prices in Coto; before re commissions and if they get their asking price. Real loss will probably be closer to 15% to 20%.

http://www.redfin.com/stingray/do/printable-listing?listing-id=1476857
 
awgee, Interesting sales history on that property:

Date

Price

Appreciation

Oct 27, 1993

$299,000

--

Apr 29, 1994

$255,000

-27.1%/yr

Jul 23, 2004

$990,000

14.2%/yr

The 1993 sale was from MASTER MTG COMPANY to BANKAMERICA NATIONAL TRUST COMPANY, ; SECURITY PACIFIC NATIONAL TRUST COMPANY.

The buyer in 1994 bought the property from BANKAMERICA NATIONAL TRUST COMPANY.

Looks like the bank took it back for $299k in 1993 and found a buyer in 1994 at $255k. Is that right graphrix?
 
Talk about chasing the market on a downhill slide; check this out.

It appears the original listing price for this property was $2,700,000 on April 21,2006. You remember April of 2006 don't you? That was back when everyone was saying prices would not decline; maybe not appreciate as quickly, but never decline.

665 days later the listing price is now $1,700,000. OUCH! These home owners have lowered their initial asking price $1,000,000 or 37%. And it has not sold yet. And it seems there is a house on Augusta that has a notice of default. What do you think the chances are ... ?

Well, maybe the original homeowners lucked out and their company bought from them on a relo.

http://www.redfin.com/stingray/do/printable-listing?listing-id=441702
 
36% loss in Fullerton.

1500 West VALENCIA DR

Fullerton, CA 92833

Price: $349,900

$/Sq. Ft.: $245

Beds: 4

Baths: 2

Sq. Ft.: 1,429

Lot Size: 6,345 sq. ft.

Sale History:

Aug 31, 2005 $547,000

S521542_0.jpg


http://www.redfin.com/stingray/do/printable-listing?listing-id=1476644
 
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