4s Ranch REO on Prairie Springs

[SD Realtor]

Cash for keys… The new owners of the home, whether it is a bank or investors need to get the occupants out. Thus they offer them cash to get out. That is what I meant.

Common reasons for cash deals range from condition of the property to seasoning issues right? The 90 day seasoning is something that may be putting this on hold for financing for now.

[BGinRB]

[quote=LAAFTERHOURS][quote=BGinRB]Banks have to give tenants 90 days to vacate. I don’t know how cooperative the tenant has to be, probably not much.

$499K is unrealistic there and now. Condos north of Del Norte (higher MR, higher HOA, higher downpayment if you want to avoid PMI) are selling for more. Either something is seriously wrong with that house or they intend to start a bidding war.[/quote]

That price is not unrealistic. Those condos you are referring to (those sexy shared driveway homes) are pushing into the mid 400s and some of them have 2100 sq ft.[/quote]

I don’t think we are talking about the same neighborhood. The houses on Fieldthorn and Manassas have that shared driveway. What I had in mind is the area north of Camino del Norte, between Camino San Thomas and Paseo de Linda (Garden Path and Garden Walk). Those are detached, but zoned condo. One recently sold for $520K or so – the buyer discussed the deal on this board.

[quote=LAAFTERHOURS] This house is small, has only 3 beds. If they were accepting other types of offers, this would probably push 525-550. Garden gate right near by are single families of the same size and they have broken sub 500 already. [/quote]
Garden Gate are detached, but again zoned condo.

[quote=LAAFTERHOURS]Its time for 4s sellers to realize their listings are overpriced.[/quote]

I agree. I just don’t see that happening with this house. The next non-contingent SFR in 4S Ranch is the Lone Bluff slider @ $650K. I suspect there will be at least one person with cash or access to hard money willing to spend ~$550K on this one.

[BGinRB]

[quote=LAAFTERHOURS][quote=BGinRB]Banks have to give tenants 90 days to vacate. I don’t know how cooperative the tenant has to be, probably not much.

$499K is unrealistic there and now. Condos north of Del Norte (higher MR, higher HOA, higher downpayment if you want to avoid PMI) are selling for more. Either something is seriously wrong with that house or they intend to start a bidding war.[/quote]

That price is not unrealistic. Those condos you are referring to (those sexy shared driveway homes) are pushing into the mid 400s and some of them have 2100 sq ft.[/quote]

I don’t think we are talking about the same neighborhood. The houses on Fieldthorn and Manassas have that shared driveway. What I had in mind is the area north of Camino del Norte, between Camino San Thomas and Paseo de Linda (Garden Path and Garden Walk). Those are detached, but zoned condo. One recently sold for $520K or so – the buyer discussed the deal on this board.

[quote=LAAFTERHOURS] This house is small, has only 3 beds. If they were accepting other types of offers, this would probably push 525-550. Garden gate right near by are single families of the same size and they have broken sub 500 already. [/quote]
Garden Gate are detached, but again zoned condo.

[quote=LAAFTERHOURS]Its time for 4s sellers to realize their listings are overpriced.[/quote]

I agree. I just don’t see that happening with this house. The next non-contingent SFR in 4S Ranch is the Lone Bluff slider @ $650K. I suspect there will be at least one person with cash or access to hard money willing to spend ~$550K on this one.

[BGinRB]

[quote=LAAFTERHOURS][quote=BGinRB]Banks have to give tenants 90 days to vacate. I don’t know how cooperative the tenant has to be, probably not much.

$499K is unrealistic there and now. Condos north of Del Norte (higher MR, higher HOA, higher downpayment if you want to avoid PMI) are selling for more. Either something is seriously wrong with that house or they intend to start a bidding war.[/quote]

That price is not unrealistic. Those condos you are referring to (those sexy shared driveway homes) are pushing into the mid 400s and some of them have 2100 sq ft.[/quote]

I don’t think we are talking about the same neighborhood. The houses on Fieldthorn and Manassas have that shared driveway. What I had in mind is the area north of Camino del Norte, between Camino San Thomas and Paseo de Linda (Garden Path and Garden Walk). Those are detached, but zoned condo. One recently sold for $520K or so – the buyer discussed the deal on this board.

[quote=LAAFTERHOURS] This house is small, has only 3 beds. If they were accepting other types of offers, this would probably push 525-550. Garden gate right near by are single families of the same size and they have broken sub 500 already. [/quote]
Garden Gate are detached, but again zoned condo.

[quote=LAAFTERHOURS]Its time for 4s sellers to realize their listings are overpriced.[/quote]

I agree. I just don’t see that happening with this house. The next non-contingent SFR in 4S Ranch is the Lone Bluff slider @ $650K. I suspect there will be at least one person with cash or access to hard money willing to spend ~$550K on this one.

[BGinRB]

[quote=LAAFTERHOURS][quote=BGinRB]Banks have to give tenants 90 days to vacate. I don’t know how cooperative the tenant has to be, probably not much.

$499K is unrealistic there and now. Condos north of Del Norte (higher MR, higher HOA, higher downpayment if you want to avoid PMI) are selling for more. Either something is seriously wrong with that house or they intend to start a bidding war.[/quote]

That price is not unrealistic. Those condos you are referring to (those sexy shared driveway homes) are pushing into the mid 400s and some of them have 2100 sq ft.[/quote]

I don’t think we are talking about the same neighborhood. The houses on Fieldthorn and Manassas have that shared driveway. What I had in mind is the area north of Camino del Norte, between Camino San Thomas and Paseo de Linda (Garden Path and Garden Walk). Those are detached, but zoned condo. One recently sold for $520K or so – the buyer discussed the deal on this board.

[quote=LAAFTERHOURS] This house is small, has only 3 beds. If they were accepting other types of offers, this would probably push 525-550. Garden gate right near by are single families of the same size and they have broken sub 500 already. [/quote]
Garden Gate are detached, but again zoned condo.

[quote=LAAFTERHOURS]Its time for 4s sellers to realize their listings are overpriced.[/quote]

I agree. I just don’t see that happening with this house. The next non-contingent SFR in 4S Ranch is the Lone Bluff slider @ $650K. I suspect there will be at least one person with cash or access to hard money willing to spend ~$550K on this one.

[BGinRB]

[quote=LAAFTERHOURS][quote=BGinRB]Banks have to give tenants 90 days to vacate. I don’t know how cooperative the tenant has to be, probably not much.

$499K is unrealistic there and now. Condos north of Del Norte (higher MR, higher HOA, higher downpayment if you want to avoid PMI) are selling for more. Either something is seriously wrong with that house or they intend to start a bidding war.[/quote]

That price is not unrealistic. Those condos you are referring to (those sexy shared driveway homes) are pushing into the mid 400s and some of them have 2100 sq ft.[/quote]

I don’t think we are talking about the same neighborhood. The houses on Fieldthorn and Manassas have that shared driveway. What I had in mind is the area north of Camino del Norte, between Camino San Thomas and Paseo de Linda (Garden Path and Garden Walk). Those are detached, but zoned condo. One recently sold for $520K or so – the buyer discussed the deal on this board.

[quote=LAAFTERHOURS] This house is small, has only 3 beds. If they were accepting other types of offers, this would probably push 525-550. Garden gate right near by are single families of the same size and they have broken sub 500 already. [/quote]
Garden Gate are detached, but again zoned condo.

[quote=LAAFTERHOURS]Its time for 4s sellers to realize their listings are overpriced.[/quote]

I agree. I just don’t see that happening with this house. The next non-contingent SFR in 4S Ranch is the Lone Bluff slider @ $650K. I suspect there will be at least one person with cash or access to hard money willing to spend ~$550K on this one.

[LAAFTERHOURS]

[quote=BGinRB][quote=LAAFTERHOURS][quote=BGinRB]Banks have to give tenants 90 days to vacate. I don’t know how cooperative the tenant has to be, probably not much.

$499K is unrealistic there and now. Condos north of Del Norte (higher MR, higher HOA, higher downpayment if you want to avoid PMI) are selling for more. Either something is seriously wrong with that house or they intend to start a bidding war.[/quote]

That price is not unrealistic. Those condos you are referring to (those sexy shared driveway homes) are pushing into the mid 400s and some of them have 2100 sq ft.[/quote]

I don’t think we are talking about the same neighborhood. The houses on Fieldthorn and Manassas have that shared driveway. What I had in mind is the area north of Camino del Norte, between Camino San Thomas and Paseo de Linda (Garden Path and Garden Walk). Those are detached, but zoned condo. One recently sold for $520K or so – the buyer discussed the deal on this board.

[quote=LAAFTERHOURS] This house is small, has only 3 beds. If they were accepting other types of offers, this would probably push 525-550. Garden gate right near by are single families of the same size and they have broken sub 500 already. [/quote]
Garden Gate are detached, but again zoned condo.

[quote=LAAFTERHOURS]Its time for 4s sellers to realize their listings are overpriced.[/quote]

I agree. I just don’t see that happening with this house. The next non-contingent SFR in 4S Ranch is the Lone Bluff slider @ $650K. I suspect there will be at least one person with cash or access to hard money willing to spend ~$550K on this one.[/quote]

Sorry I thought you meant the Hollingsworth spots. La Vina are also detached but zoned condos and those have hit the 450 mark (although 2 arent on the mls but the signs are in the windows).

Garden Path / Gate – same builder and homes. If one breaks under 500, the other is sure to follow, especially considering the MR are higher north of Camino.

Silverpine is in the high 500s (finally) and I hope it gets down to low 500s by xmas. It would set a nice correction on the rest of 4s.

Glad we agree on my last sentence 🙂

[LAAFTERHOURS]

[quote=BGinRB][quote=LAAFTERHOURS][quote=BGinRB]Banks have to give tenants 90 days to vacate. I don’t know how cooperative the tenant has to be, probably not much.

$499K is unrealistic there and now. Condos north of Del Norte (higher MR, higher HOA, higher downpayment if you want to avoid PMI) are selling for more. Either something is seriously wrong with that house or they intend to start a bidding war.[/quote]

That price is not unrealistic. Those condos you are referring to (those sexy shared driveway homes) are pushing into the mid 400s and some of them have 2100 sq ft.[/quote]

I don’t think we are talking about the same neighborhood. The houses on Fieldthorn and Manassas have that shared driveway. What I had in mind is the area north of Camino del Norte, between Camino San Thomas and Paseo de Linda (Garden Path and Garden Walk). Those are detached, but zoned condo. One recently sold for $520K or so – the buyer discussed the deal on this board.

[quote=LAAFTERHOURS] This house is small, has only 3 beds. If they were accepting other types of offers, this would probably push 525-550. Garden gate right near by are single families of the same size and they have broken sub 500 already. [/quote]
Garden Gate are detached, but again zoned condo.

[quote=LAAFTERHOURS]Its time for 4s sellers to realize their listings are overpriced.[/quote]

I agree. I just don’t see that happening with this house. The next non-contingent SFR in 4S Ranch is the Lone Bluff slider @ $650K. I suspect there will be at least one person with cash or access to hard money willing to spend ~$550K on this one.[/quote]

Sorry I thought you meant the Hollingsworth spots. La Vina are also detached but zoned condos and those have hit the 450 mark (although 2 arent on the mls but the signs are in the windows).

Garden Path / Gate – same builder and homes. If one breaks under 500, the other is sure to follow, especially considering the MR are higher north of Camino.

Silverpine is in the high 500s (finally) and I hope it gets down to low 500s by xmas. It would set a nice correction on the rest of 4s.

Glad we agree on my last sentence 🙂

[LAAFTERHOURS]

[quote=BGinRB][quote=LAAFTERHOURS][quote=BGinRB]Banks have to give tenants 90 days to vacate. I don’t know how cooperative the tenant has to be, probably not much.

$499K is unrealistic there and now. Condos north of Del Norte (higher MR, higher HOA, higher downpayment if you want to avoid PMI) are selling for more. Either something is seriously wrong with that house or they intend to start a bidding war.[/quote]

That price is not unrealistic. Those condos you are referring to (those sexy shared driveway homes) are pushing into the mid 400s and some of them have 2100 sq ft.[/quote]

I don’t think we are talking about the same neighborhood. The houses on Fieldthorn and Manassas have that shared driveway. What I had in mind is the area north of Camino del Norte, between Camino San Thomas and Paseo de Linda (Garden Path and Garden Walk). Those are detached, but zoned condo. One recently sold for $520K or so – the buyer discussed the deal on this board.

[quote=LAAFTERHOURS] This house is small, has only 3 beds. If they were accepting other types of offers, this would probably push 525-550. Garden gate right near by are single families of the same size and they have broken sub 500 already. [/quote]
Garden Gate are detached, but again zoned condo.

[quote=LAAFTERHOURS]Its time for 4s sellers to realize their listings are overpriced.[/quote]

I agree. I just don’t see that happening with this house. The next non-contingent SFR in 4S Ranch is the Lone Bluff slider @ $650K. I suspect there will be at least one person with cash or access to hard money willing to spend ~$550K on this one.[/quote]

Sorry I thought you meant the Hollingsworth spots. La Vina are also detached but zoned condos and those have hit the 450 mark (although 2 arent on the mls but the signs are in the windows).

Garden Path / Gate – same builder and homes. If one breaks under 500, the other is sure to follow, especially considering the MR are higher north of Camino.

Silverpine is in the high 500s (finally) and I hope it gets down to low 500s by xmas. It would set a nice correction on the rest of 4s.

Glad we agree on my last sentence 🙂

[LAAFTERHOURS]

[quote=BGinRB][quote=LAAFTERHOURS][quote=BGinRB]Banks have to give tenants 90 days to vacate. I don’t know how cooperative the tenant has to be, probably not much.

$499K is unrealistic there and now. Condos north of Del Norte (higher MR, higher HOA, higher downpayment if you want to avoid PMI) are selling for more. Either something is seriously wrong with that house or they intend to start a bidding war.[/quote]

That price is not unrealistic. Those condos you are referring to (those sexy shared driveway homes) are pushing into the mid 400s and some of them have 2100 sq ft.[/quote]

I don’t think we are talking about the same neighborhood. The houses on Fieldthorn and Manassas have that shared driveway. What I had in mind is the area north of Camino del Norte, between Camino San Thomas and Paseo de Linda (Garden Path and Garden Walk). Those are detached, but zoned condo. One recently sold for $520K or so – the buyer discussed the deal on this board.

[quote=LAAFTERHOURS] This house is small, has only 3 beds. If they were accepting other types of offers, this would probably push 525-550. Garden gate right near by are single families of the same size and they have broken sub 500 already. [/quote]
Garden Gate are detached, but again zoned condo.

[quote=LAAFTERHOURS]Its time for 4s sellers to realize their listings are overpriced.[/quote]

I agree. I just don’t see that happening with this house. The next non-contingent SFR in 4S Ranch is the Lone Bluff slider @ $650K. I suspect there will be at least one person with cash or access to hard money willing to spend ~$550K on this one.[/quote]

Sorry I thought you meant the Hollingsworth spots. La Vina are also detached but zoned condos and those have hit the 450 mark (although 2 arent on the mls but the signs are in the windows).

Garden Path / Gate – same builder and homes. If one breaks under 500, the other is sure to follow, especially considering the MR are higher north of Camino.

Silverpine is in the high 500s (finally) and I hope it gets down to low 500s by xmas. It would set a nice correction on the rest of 4s.

Glad we agree on my last sentence 🙂

[LAAFTERHOURS]

[quote=BGinRB][quote=LAAFTERHOURS][quote=BGinRB]Banks have to give tenants 90 days to vacate. I don’t know how cooperative the tenant has to be, probably not much.

$499K is unrealistic there and now. Condos north of Del Norte (higher MR, higher HOA, higher downpayment if you want to avoid PMI) are selling for more. Either something is seriously wrong with that house or they intend to start a bidding war.[/quote]

That price is not unrealistic. Those condos you are referring to (those sexy shared driveway homes) are pushing into the mid 400s and some of them have 2100 sq ft.[/quote]

I don’t think we are talking about the same neighborhood. The houses on Fieldthorn and Manassas have that shared driveway. What I had in mind is the area north of Camino del Norte, between Camino San Thomas and Paseo de Linda (Garden Path and Garden Walk). Those are detached, but zoned condo. One recently sold for $520K or so – the buyer discussed the deal on this board.

[quote=LAAFTERHOURS] This house is small, has only 3 beds. If they were accepting other types of offers, this would probably push 525-550. Garden gate right near by are single families of the same size and they have broken sub 500 already. [/quote]
Garden Gate are detached, but again zoned condo.

[quote=LAAFTERHOURS]Its time for 4s sellers to realize their listings are overpriced.[/quote]

I agree. I just don’t see that happening with this house. The next non-contingent SFR in 4S Ranch is the Lone Bluff slider @ $650K. I suspect there will be at least one person with cash or access to hard money willing to spend ~$550K on this one.[/quote]

Sorry I thought you meant the Hollingsworth spots. La Vina are also detached but zoned condos and those have hit the 450 mark (although 2 arent on the mls but the signs are in the windows).

Garden Path / Gate – same builder and homes. If one breaks under 500, the other is sure to follow, especially considering the MR are higher north of Camino.

Silverpine is in the high 500s (finally) and I hope it gets down to low 500s by xmas. It would set a nice correction on the rest of 4s.

Glad we agree on my last sentence 🙂

[ocrenter]

not exactly a bargain. we are looking at zero lot line homes, essentially detached condos. sqft is 2166 so that’s $231/sqft.

10408 Cherry Blossom is north of camino del norte, also same type of zero lot line detached condos, sqft at 2334 sqft, sold for $509k last month, or $218/sqft.

10413 Wild Orchid is in the same Garden Walk complex as Cherry Blossom, 2112 sqft, sold for $505k last month as well.

essentially $500k is the going rate for these type of larger detached condos in 4S. to ask for total cash payment for the same price as market value doesn’t make any sense.

[ocrenter]

not exactly a bargain. we are looking at zero lot line homes, essentially detached condos. sqft is 2166 so that’s $231/sqft.

10408 Cherry Blossom is north of camino del norte, also same type of zero lot line detached condos, sqft at 2334 sqft, sold for $509k last month, or $218/sqft.

10413 Wild Orchid is in the same Garden Walk complex as Cherry Blossom, 2112 sqft, sold for $505k last month as well.

essentially $500k is the going rate for these type of larger detached condos in 4S. to ask for total cash payment for the same price as market value doesn’t make any sense.

[ocrenter]

not exactly a bargain. we are looking at zero lot line homes, essentially detached condos. sqft is 2166 so that’s $231/sqft.

10408 Cherry Blossom is north of camino del norte, also same type of zero lot line detached condos, sqft at 2334 sqft, sold for $509k last month, or $218/sqft.

10413 Wild Orchid is in the same Garden Walk complex as Cherry Blossom, 2112 sqft, sold for $505k last month as well.

essentially $500k is the going rate for these type of larger detached condos in 4S. to ask for total cash payment for the same price as market value doesn’t make any sense.

[ocrenter]

not exactly a bargain. we are looking at zero lot line homes, essentially detached condos. sqft is 2166 so that’s $231/sqft.

10408 Cherry Blossom is north of camino del norte, also same type of zero lot line detached condos, sqft at 2334 sqft, sold for $509k last month, or $218/sqft.

10413 Wild Orchid is in the same Garden Walk complex as Cherry Blossom, 2112 sqft, sold for $505k last month as well.

essentially $500k is the going rate for these type of larger detached condos in 4S. to ask for total cash payment for the same price as market value doesn’t make any sense.

[Author]

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