Another REO re-assignment came our way yesterday. It's a 2 br/2 ba, 1,108sf condo in the UTC area for $309,900. The complex is in litigation, plus the market appears to be fairly competitive:
Longshot?
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REOs for sale
Unicorn
Someone is going to throw carpet over this and forget all about it.....
Another Carmel Valley REO
REO Quiet in Carmel Valley
Here is only the fourth detached REO listing this year in 92130:
Solana Beach REO Condo
Many will recognize the white condos on the hill that you can see from the grandstand at the track. The high sale of this model was on the top street - it sold for $850,000 in 2007, the same year they had a $80,000 assessment per unit for a full makeover:
Head-Banger
This house is listed as 1,805 square feet on the tax rolls, but that has to include the upstairs loft. Will buyers pay full value on the attic room?
McBox
This Aviara tract house was foreclosed February 8th, and when we went by the first time there was a BMW in the driveway. Boom, less than three weeks after the trustee sale, it's vacant and on the market:
Three-Timer
This REO listing is on it's third time around - the sales history: 1986: Foreclosed 1987: $429,000 1995: Foreclosed 1995: $450,000 2000: $820,000 2010: Foreclosed (loans were $1.3M) 2011: $899,000 list price
REO = Retail
There have been several attempts here to bust up the media's insistence that foreclosures cause prices to plunge. The servicers get appraisals and BPOs completed on every asset, and price them accordingly to achieve top dollar - they aren't giving anything away. The...
Carmel Valley Bank Deals 1
Keep looking at a house long enough, you'll find the true value....
