You still hear people saying that REOs are dragging down values, but you'd have a tough time convincing me that this isn't retail-priced. P.S. Only two Carmel Valley SFRs have been foreclosed since June 1st:
CV REO Drip
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REOs for sale
Sign of the Times
The old steal-the-keys-so-nobody-else-can-show trick:
Willing To Take a Risk?
Remember the landslide on Soledad Mountain in 2007? There had been at least one previous landslide in the same area, back in 1961 when they were building these houses. This flicker has photos of both:...
More Drippings
This guy worked the program nicely - his first NOD was filed in April, 2008 By the time this got foreclosed in May, 2012, the back payments, penalty fees, and negative amortization added up to more than $250,000:
Seahaus REO
Thanks to SD_Coastal for tippng me to this beauty, a bank-owned unit in the Seahaus condominium in La Jolla's Bird Rock. Barratt American was the developer who has since gone bankrupt, making homeowners pursue other entities to fix the construction defects. Kelly...
LC Greens 4,913sf REO
You have to go all out on these McMansions, otherwise they look too plain and boring:
Custom La Costa REO
Ocean View REO $850,000
Ideal bachelor pad, could use some TLC: http://www.sdlookup.com/MLS-120026371-610_Hymettus_Ave_Encinitas_CA_92024
92014 Ranch
The latest REO in Del Mar/RSF that buyers will probably consider a "bank deal":
Saltillo
Another bank-owned old-Spanish big bomber in the Covenant: http://www.sdlookup.com/MLS-120031540-3214_Cerros_Redondos_Rancho_Santa_Fe_CA_92067
