San Diego Housing Market News and Analysis
short sale in encinitas ranch - good value?
User Forum Topic
Submitted by lu on December 12, 2007 - 8:40pm
What do folks think about this listing?
645 Brae Mar Court, Encinitas, CA
It's shown as for sale on zillow for $995K but it's actually now a short sale owned by WaMu -- going for $800K. The last sale was for $1.2M in Jan of '07 (0% down of course).
That's a 33% haircut -- any thoughts on whether that brings the property back down to "fair value"? It looks like the 2003 price point was hovering around $750K or so.
The comps on zillow all show upwards of $1M, even up to $1.5M.
Any thoughts from the realtors out there?
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