aaaah no ziprealty, I can barely remember my atm password, do you have this on redfin or mrmls, can you throw up the address. free beer requires free viewing.

This house has a Murrieta Zip but is located closser to Menifee, the house probably sold for less to the first owner in 2004. IMO the house is worth 250K tops.
the address is 29159 DENTARIA WY, Murrieta there are lots of large homes in this area that are cheap

Oh, I found it in redfin

http://www.redfin.com/stingray/do/printable-listing?listing-id=1034383

It’s a short sale so no beer just yet, still a good find but some of the shorts I’ve seen are extremely low and I think they advertise them that way to get some traffic. One I saw was 350 and then a few weeks later was listed at 390 because obviously the bank said no the 350 when someone tried it.

You are right, it’s off Scott road and east of the 215, that’s Menifee in my book. It is actually an annexed penninsula of Murrieta but you have to get on the freeway to get to Murrieta from there and I just checked the school district website, it’s not in the Murrieta school district (Menifee Schools) and it’s not even close, it’s miles into the Menifee district, that’s a trick. That is also the mapleton tract, probably the worst hit and recently in the news for fraud and a registered child molester living there, hawk has made some videos of it before. I’ll buy almost anyone a beer for any reason but mapleton, cmon, that’s almost cheating.

tg, you’re right about the bait and switch sales tactics on short sales.

It also a good opportunity for the Realtors to get families’ hopes of owning a home up. Then when the bank says no to the offer, the buyers will be too emotionally exhausted to resist further. Finally, they’ll settle on the next best house to end all the work of house hunting.

I honestly wouldn’t be shocked if the bank accepted 315 for this house in this area at this time.

Seems this house first sold in 2004, does anyone know what the first owner paid?

This is a great neighborhood to watch.

Some people have argued that $100/sf construction costs + land will be the floor price of houses.

This house includes the land for $97/sf. Does that mean that the land has negative value?

“This house includes the land for $97/sf. Does that mean that the land has negative value?”

No it means it was a stupid place to build and worse yet, pay an astronomical price for a oversized house. An appropriate house for most people who can actually afford and want to live in Menifee, shennanigans put aside for the moment, is about 1200ft sq. Sooner or later those people are going to be getting a free 2000 sq. ft.