Auction for 27245 Corte Lucido, Murrieta, CA

[snail]

According to the flier on the house, auction will be conducted at the address at August 18th, 8:30AM. Minimum bid $50,000.00, accepted down payment in personal check or money order. I was looking at ZipRealty and couldn’t find the listing for this house, however there is a similar house (4bed,2.5 bath, 2 stories) across the street at 27242 Corte Lucido is being offered at $449K. Its just a lttle strange that the house is not currently listed at MLS, maybe its expired already. The house is not ideal because of the layout (with the garage detached at the back), has a very small back yard and exposed to the street traffic of Sierra Madre. Zillow reported the place sold January 22nd at $417.5K, maybe REO sale. I will go there this Saturday as looky loos (if my kids behave)and report on the selling price (If it does sold).

[temeculaguy]

The one across the street is a model match and has been sitting for 174 days, so 449k is probably not the right price. Once again comparing things to what others are not selling at isn’t a very good way to arrive at a price.

http://www.redfin.com/stingray/do/printable-listing?listing-id=538909

Compared to the one for auction but looking at the sattelite photo the auction house has absolutely no backyard and probably isn’t in that great of condition. The one at 449 does have a bit more yard.

http://www.redfin.com/stingray/do/printable-property?external_id=6359840

The other houses nearby have very long days on market so please do go to the auction and tell us what it goes for. I am going to guess 370k.

[temeculaguy]

The one across the street is a model match and has been sitting for 174 days, so 449k is probably not the right price. Once again comparing things to what others are not selling at isn’t a very good way to arrive at a price.

http://www.redfin.com/stingray/do/printable-listing?listing-id=538909

Compared to the one for auction but looking at the sattelite photo the auction house has absolutely no backyard and probably isn’t in that great of condition. The one at 449 does have a bit more yard.

http://www.redfin.com/stingray/do/printable-property?external_id=6359840

The other houses nearby have very long days on market so please do go to the auction and tell us what it goes for. I am going to guess 370k.

[temeculaguy]

The one across the street is a model match and has been sitting for 174 days, so 449k is probably not the right price. Once again comparing things to what others are not selling at isn’t a very good way to arrive at a price.

http://www.redfin.com/stingray/do/printable-listing?listing-id=538909

Compared to the one for auction but looking at the sattelite photo the auction house has absolutely no backyard and probably isn’t in that great of condition. The one at 449 does have a bit more yard.

http://www.redfin.com/stingray/do/printable-property?external_id=6359840

The other houses nearby have very long days on market so please do go to the auction and tell us what it goes for. I am going to guess 370k.

[snail]

TG, I agreed the 449K is also overpriced. Heck as a matter of fact I think the whole Temecula/Murrieta area is still overpriced. I should be able to get a place at $110/sqft. here. IMO this place should be priced at low $300, the rent in the area for a house like that is about $1850 max. I hope the auction start quickly on Saturday, I just want to see the selling price. I will bet some flipper will buy it over 400K.

[snail]

TG, I agreed the 449K is also overpriced. Heck as a matter of fact I think the whole Temecula/Murrieta area is still overpriced. I should be able to get a place at $110/sqft. here. IMO this place should be priced at low $300, the rent in the area for a house like that is about $1850 max. I hope the auction start quickly on Saturday, I just want to see the selling price. I will bet some flipper will buy it over 400K.

[snail]

TG, I agreed the 449K is also overpriced. Heck as a matter of fact I think the whole Temecula/Murrieta area is still overpriced. I should be able to get a place at $110/sqft. here. IMO this place should be priced at low $300, the rent in the area for a house like that is about $1850 max. I hope the auction start quickly on Saturday, I just want to see the selling price. I will bet some flipper will buy it over 400K.

[FormerOwner]

snail,

Did you attend the auction? How did it go?

[FormerOwner]

snail,

Did you attend the auction? How did it go?

[FormerOwner]

snail,

Did you attend the auction? How did it go?

[snail]

Sold for 327K! I was there late at the end of it, but there were a s@#$ lot of people. I am very happy for the sale price, obviously everyone bidding in a state of sanity. I still say its overpriced, but its going in the right direction. I am very thrill, I think there is the light at the end of the tunnel. I might be able to afford a house in this area.

[snail]

Sold for 327K! I was there late at the end of it, but there were a s@#$ lot of people. I am very happy for the sale price, obviously everyone bidding in a state of sanity. I still say its overpriced, but its going in the right direction. I am very thrill, I think there is the light at the end of the tunnel. I might be able to afford a house in this area.

[snail]

Sold for 327K! I was there late at the end of it, but there were a s@#$ lot of people. I am very happy for the sale price, obviously everyone bidding in a state of sanity. I still say its overpriced, but its going in the right direction. I am very thrill, I think there is the light at the end of the tunnel. I might be able to afford a house in this area.

[temeculaguy]

Thanks for the update snail, glad to see that it made sense, since the other listings are in the 450-600 range that is going to sting. I wonder if anyone could actually get a loan even if a bigger fool came along and bought one of the other ones? Would an appraiser ignore the new comp since there is only one or does it become the new benchmark?

[temeculaguy]

Thanks for the update snail, glad to see that it made sense, since the other listings are in the 450-600 range that is going to sting. I wonder if anyone could actually get a loan even if a bigger fool came along and bought one of the other ones? Would an appraiser ignore the new comp since there is only one or does it become the new benchmark?

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