Opinions on a CDM Property

[Strom_IHB]

http://www.redfin.com/CA/Corona-Del-Mar/1038-Sandcastle-Dr-92625/home/4714627

1.) How much do you think it will eventually sell for?

2.) What do you guys think of the house (design, layout, etc.)

 

[EvaLSeraphim_IHB]

Given that price drop, I would check to see if there are any notices of default recorded on the property. While it's possible the sellers came to their senses, I suspect it is more possible that a love letter from the bank encouraged the price drop, especially at 225 DOM. It certainly appears to be a nice home.

 

[Strom_IHB]

I don't know - the purchase price was $2.1MM, so it's still listed way above that (unless that was before the remodel). Also, the drop in listing price was in January, so they don't seem to be in a huge hurry to sell.

While the listing price dropped a little over 11%, it's still priced at over $1,000/sf. The original listing was $1,167/sf.

Edit: After further research, I think the $2.1MM purchase was made before the remodel.

 

[socalmd_IHB]

I really like this house and CDM is a great place to live. I bet it sells for low 2 mills. But in this market, who knows.

 

[Strom_IHB]

Oops - guess they took it down. Why would they do that after 225 DOM...

 

[Strom_IHB]

Back on the market:

http://www.redfin.com/CA/Corona-Del-Mar/1038-Sandcastle-Dr-92625/home/4714627

$996/sf ($2,790,000) now.

 

[Trooper_IHB]

Strom's link

 

[alan_IHB]

Very nice house but hard to know what it will sell for and when in this market. Someone's going to have to come in with a huge down and large income to qualify for the mortgage and those someone's are rare. As a buyer, you probably have more to gain by waiting then making an offer.