thank you jjgittes, I posted an update on that property. I think it is still with the bank as a REO. I don’t think the bank is going to take a $271,000 haircut this early in the game.
For the record, that property is in the far reaches of northeast Carlsbad and no where near La Costa. At 2,050 sq ft it hardly qualifies as a McMansion either. If its the house I think it is, it has a street behind its small yard that serves as the entrance drive of an elementary school. While a big loss, those factors likely prevented its sale for the 1 year plus it languished on the market. Given its location its alot more representative of the market in Oceanside than La Costa.
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