Nice find!!! These are not too good to be true but more than likely they are from the CORE scam because the orange county repo realtor is the same and had the same listing day. Two model matches in the same tract have been sitting on the market at 490k 104 day and 465k 73 days. They have green lawns and will have warranties, etc. An “as is” repo with a dead lawn has to price itself below those others so both at 395k is a way to move them. I have no familiarity with this neighborhood but they went off new in 2004 in the 500’s and looks like the 630k in 2005 but those were like CORE scam inflated prices (they would pay 100k over list and get a loan then pocket the 100k, and run, leaving the investor with ruined credit) see other posts for the details but you can’t use the 630k price as a baseline to determine 235k loss because 100k of it was fraud. It still represents hell of a deal if the neighborhood works for you, 395k asking for 3200 sq ft, 3 car garage almost new house is not bad. But I don’t want to live in Murietta, when in the heck is that going to happen in Temecula, I wan’t an oompa loompa and I want one now!
If that was just 15 miles south I’d probably be over there today looking at it and offering 350k because that is now inline with rent almost.
