This house has a fairly

[XBoxBoy]

This house has a fairly checkered past over the last couple of years and is an interesting lesson for anyone who still thinks the coast is immune.

In March 2008 it was listed for sale for a mere 2.5mil. Over the course of the next year it was reduced in price to 1.5mil.

http://www.sdlookup.com/MLS-081019724-1415_Cottontail_Ln_La_Jolla_Ca_92037

Looks like NOD was filed in Dec. 2008, and now it has been foreclosed on. There were two loans, one for $1,280,000 and the second for $500,000

Interestingly, the listing on sdlookup shows the place as pending, but somehow I doubt that’s accurate if it was foreclosed on earlier this month.

I’m not sure if the 1,179,017 is just the bank taking it back or if someone bought it off the courthouse steps. Maybe SDR can clarify that.

Worth mentioning is that a neighbor is on the market at 1.45mil and also has NOD filed, so there might be another comp killer on this street if the bank takes that one back.

http://www.sdlookup.com/Property-B05D648F-1415_Cottontail_Ln_La_Jolla_CA_92037

Oh yeah, almost forgot. There was another bank REO around the corner on La Jolla Rancho that is now pending. Don’t know what it will close at, but it went pending at 1,949,000 which was a little more than 500k off the 2005 purchase price

http://www.sdlookup.com/MLS-080082556-942_La_Jolla_Rancho_Rd_La_Jolla_Ca_92037