Well lets start with the confidential remarks. They said that the short sale package has been submitted so a fair assumption would be that they have either had or have an offer on the home. The confidential remarks also mentioned something about “tentative approval” in place. My read on this is that again, they either have or HAD an offer in place. Perhaps they had an offer and the buyers have walked. Perhaps they have an offer in place and they are waiting for written approval. Hard to day. In this schizo market anything may go.
The home was purchased for 945k back in 06 and has about 850k in mortgage debt that is purchase money. The realist tax roll does not indicate any default on the home.
You will also like this… there is a comment that says, No lowball offers please.. Don’t waste everybodys time.
Personally I have not done any transactions with this agent, perhaps sdr has but I have been to another listing he had a few months ago.
I did a quick polygon search, the boundary was Aviara and Poinsettia, I went as far west as Alderwood, Solandra and Tea Tree, and as far north as Belleflower (but I did not include homes on Belleflower). I did a search for all listings in the last two years, tried to keep the search from 2200-3200 sf. At list price this home is 289 ppsf. Now in the little polygon I made there were no pendings and no closed sales since 10/2008. Also just fyi this home was previously listed and expired. When it expired it was listed at 815-855.
So you have to understand that in my opinion neighborhoods like this will depreciate over the next few years. By the same token in this market, with the way things are this spring it will not surprise me if it goes somewhere in the 700s perhaps even into the mid 700s.
