Buzzer Beater in San Marcos

[North County Jim]

1090 Crimson Dr. was scheduled for trustee auction yesterday but the sellers closed on Friday. Any info on what the sale price was?

I’m guessing Countrywide took a bath here as they held the first and the second for the full purchase price of $850k in July 2006.

If form holds relative to similar properties I’ve tracked in San Marcos, I’d estimate a sale in the low to mid 700’s.

[Bugs]

The MLS shows the most recent listing ($775,000 – $850,000) as an expired in 05/01/2007, not as a sale. If it did sell it may take a week before the sale price is posted in the public records databse.

There’s another home, apparently a model match, in escrow on the same street, albeit on the opposite side. It was listed from $759k – $775k, but it doesn’t have the view amenity or the pool.

[SD Realtor]

If it did sell then it must have been a private sale. As Bugs commented this property has been expired; not just once but a few times. North County Jim did you sale they closed a sale because you knew it was pending? I also checked Realist and there is nothing recorded on the record. As Bugs says it may take another day or two. So they either cured the default, (in which case if they did then there would be no comment on the assessor record) or they refinanced (in which there would be a comment on the assessor record) or the home went to auction and was purchased or reconveyed back to the lender (which would also be recorded)

I am puzzled though because I checked the title plant I use and the records there show that the sale date was to be 4/12/07 and that the notice of trustee sale was published 3/26/07.

I guess that they had a private party sale and that they told the lender and somehow got things delayed? I am a bit perplexed.

SD Realtor

[North County Jim]

This has been puzzling to me as well. The original NOT listed the sale date as 4/12 but Recontrust’s web site showed an auction date of 5/12. I’m guessing they bought some time from the lender to complete the transaction.

I’m getting the sale info indirectly from the recorded documents index. If you look up the July 2006 buyers, you’ll see a deed transfer on 5/11/07.

[SD Realtor]

Got ya Jim… Hmmm a puzzler indeed. I agree with you that they probably bought time with the lender, maybe they had documentation to show the lender that indeed they were in escrow. Again, I can only assume the sale was done outside the MLS because there is no active or pending status for this address, just a bunch of expireds. I am assuming the deed transfered to an individual or married couple as opposed to reconveyance company or the like?

SD Realtor

[North County Jim]

The deed transfer was to a man and a woman with the same last name.

Incidentally, they financed with Countrywide.

[North County Jim]

It sold for $710,000. After factoring in lack of payments and expenses, I don’t think Countrywide was made whole on the first trust deed.

BTW, we made an offer on this house in January for $680k and never received a counter.

[North County Jim]

It sold for $710,000. After factoring in lack of payments and expenses, I don’t think Countrywide was made whole on the first trust deed.

BTW, we made an offer on this house in January for $680k and never received a counter.

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