Carmel Valley – long time flipper house finally sold?

[PadreBrian]

This house has been around for the last 2 years. With many a MLS #, and many an owner. But, it has no sign any more. Maybe it sold!

Anyone with mls info on what this house sold for?

Or was it just removed from market by bank?

http://www.sdlookup.com/MLS-076063267-13506_Moonflower_Meadows_Trl_San_Diego_CA_92130

[SD Realtor]

Sold for 675k on 9/21.

SD Realtor

[PadreBrian]

Nice price!

Lowballers unite!

I was going to put a bid on this sucker last month after the crash, but the noise from the back neighbors told me not to. Sounded like a Ringling Brother Circus.

The house was a flipper special, not a damn thing was left off the option check boxes when they built this house. 2nd floor patio, full solar, surround sound wiring with speakers, damper system, and the rest of the typical stuff.

From the looks of it, the bank(s) took a 230,000 haircut on this baby.

Also shows the banks are willing to talk now.

[gn]

Sold for 675k on 9/21

Is this sale considered a "comp destroyer" ?

[CAwireman]

So, is this about a $90K reduction?

I couldn’t find the past sale prices in Zillow.

Anyone else able to find them?

HiggyBaby

[asragov]

It looks like the $848,500 price in 10/2005 was when it was purchased from Pardee, so I don’t think that there is any more history than that.

The original list price was $762,500.

It looks like another case where the 2nd (Wells Fargo for $150,000) was destroyed entirely. The first was for $649,500.

[patientlywaiting]

Yeah, looks like $848,500 original purchase price.

http://www.sdlookup.com/Property-0428050A-13506_Moonflower_Meadows_Trl_San_Diego_CA_92130

According to the comments, Pardee is matching the price on new development so it might not be that great of a deal.

[Arty]

Any info on how the house is financed?

[patientlywaiting]

Looks like this house is just 3 blocks away from the Portico models. So I assume it’s a Pardee Portico house.

http://maps.google.com/maps?daddr=13525+Scarlet+Sage+Trail,+San+Diego,+CA+92130&geocode=&dirflg=&saddr=13506+Moonflower+Meadows&f=d&hl=en&sll=32.965521,-117.190561&sspn=0.008389,0.01502&ie=UTF8&z=18&om=1

Here’s a listing nearby. I’m afraid this resale will be sitting on the market ’til the bank takes it. Making mortgage payments on an empty $800k house sure doesn’t build equity.
http://www.sdlookup.com/Property-7239D9DF-13525_Scarlet_Sage_Trl_San_Diego_CA_92130

[utcsox]

Is the current price $675K still overpriced for this 2000 square foot SFH? If so, what is a reasonable price to purchase this property?

[PadreBrian]

This is a ‘Arabela’, not a ‘Portico’ which is a row home. Arabelas are nicer with front and back yards (still tiny, but carmel valley sized).

This is a MAJOR comp killer. 200k haircut for the neighborhood. Arabellas use to go for the 800’s just a few months ago.

[SD Realtor]

It is still sticky city out there regardless of a comp buster here and there. Don’t get me wrong, eventually enough comp busters will bring wholesale pricing down in these desireable areas….it just is a slow process and will be measured by years not weeks/months.

There is a bank owned right around the corner in Portico for 825k and it was originally listed in June at 849k… not much downward movement given the fact that it has sat like a turd on the market all summer. It is on 6035 Roselle Meadows Trail.

SD Realtor

[bsrsharma]

what is a reasonable price to purchase this property?

$400K max when the cayote hits the bottom of the canyon!

[Arty]

This is a ‘Arabela’, not a ‘Portico’ which is a row home. Arabelas are nicer with front and back yards (still tiny, but carmel valley sized).

Yea, there is no way Portico can sell more than Arabela if everything been equal. Portico is more like detached condo.

[patientlywaiting]

Looks like the OP house is Arabella Plan 1.

http://www.pardeehomes.com/plan.php?r=2&c=18&n=97&p=1

According to the website, Arabella is 4000sf lot on average. Portico is 3200sf lot on average.

Portico (2167sf) and Arabella (2007sf) start at about the same square footage to about 2400sf.

Either way, the lots are not large. Personally, I’d rather have more living sf for the price. It depends on location, you can compensate by buying a corner lot. Privacy wise, Portico might be better because they are alley homes so you don’t have rear neighbors looking down upon you. If you don’t care about a back yard lawn and can do with a nice patio, then an end unit at Portico might be best.

Personally, I prefer the designs of alley houses.

[Author]

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