Massive 26% Markdown on Carmel Valley McMansion

[zk]

You’re right, Mr. Wrong, it doesn’t have an acre of useable land. It doesn’t even have an especially big yard, as it turns out.

But as far as it being mainstream CV, while I’d agree that it’s not mainstream CV, I’d say that that’s because it’s more desireable than mainstream CV.

In any case, I still think it’ll end up being a lower comp than most recent ones.

[SD Realtor]

You guys will love the listing history on this one. Original purchase in 7/05. First mtg for 1.424, second for 300k. So the homeowner did lose 300k of his own loot. The house has been on the MLS since August of 2006. Realist (which is the tax roll service used by Sandicor) is slow to get updates and has the home still owned by the homeowner and not the bank. However the NOT filed was for an auction date of 11/07 so I bet they had an offer on a short sale, it crashed and burned and the auction was postponed but now happened or will happen tomorrow especially since the listing says it is bank owned.

Anyways no this is not mainstream CV however it is very nice to see this 30% cut from the 2005 sales price. The home will go quick at this price. Not even close to an acre of usable ground as there is a slope that is in the lot. As you said zk it is more desireable in this part of CV and this will help bring down the comps there.

SD Realtor

[SD Realtor]

You guys will love the listing history on this one. Original purchase in 7/05. First mtg for 1.424, second for 300k. So the homeowner did lose 300k of his own loot. The house has been on the MLS since August of 2006. Realist (which is the tax roll service used by Sandicor) is slow to get updates and has the home still owned by the homeowner and not the bank. However the NOT filed was for an auction date of 11/07 so I bet they had an offer on a short sale, it crashed and burned and the auction was postponed but now happened or will happen tomorrow especially since the listing says it is bank owned.

Anyways no this is not mainstream CV however it is very nice to see this 30% cut from the 2005 sales price. The home will go quick at this price. Not even close to an acre of usable ground as there is a slope that is in the lot. As you said zk it is more desireable in this part of CV and this will help bring down the comps there.

SD Realtor

[SD Realtor]

You guys will love the listing history on this one. Original purchase in 7/05. First mtg for 1.424, second for 300k. So the homeowner did lose 300k of his own loot. The house has been on the MLS since August of 2006. Realist (which is the tax roll service used by Sandicor) is slow to get updates and has the home still owned by the homeowner and not the bank. However the NOT filed was for an auction date of 11/07 so I bet they had an offer on a short sale, it crashed and burned and the auction was postponed but now happened or will happen tomorrow especially since the listing says it is bank owned.

Anyways no this is not mainstream CV however it is very nice to see this 30% cut from the 2005 sales price. The home will go quick at this price. Not even close to an acre of usable ground as there is a slope that is in the lot. As you said zk it is more desireable in this part of CV and this will help bring down the comps there.

SD Realtor

[SD Realtor]

You guys will love the listing history on this one. Original purchase in 7/05. First mtg for 1.424, second for 300k. So the homeowner did lose 300k of his own loot. The house has been on the MLS since August of 2006. Realist (which is the tax roll service used by Sandicor) is slow to get updates and has the home still owned by the homeowner and not the bank. However the NOT filed was for an auction date of 11/07 so I bet they had an offer on a short sale, it crashed and burned and the auction was postponed but now happened or will happen tomorrow especially since the listing says it is bank owned.

Anyways no this is not mainstream CV however it is very nice to see this 30% cut from the 2005 sales price. The home will go quick at this price. Not even close to an acre of usable ground as there is a slope that is in the lot. As you said zk it is more desireable in this part of CV and this will help bring down the comps there.

SD Realtor

[SD Realtor]

You guys will love the listing history on this one. Original purchase in 7/05. First mtg for 1.424, second for 300k. So the homeowner did lose 300k of his own loot. The house has been on the MLS since August of 2006. Realist (which is the tax roll service used by Sandicor) is slow to get updates and has the home still owned by the homeowner and not the bank. However the NOT filed was for an auction date of 11/07 so I bet they had an offer on a short sale, it crashed and burned and the auction was postponed but now happened or will happen tomorrow especially since the listing says it is bank owned.

Anyways no this is not mainstream CV however it is very nice to see this 30% cut from the 2005 sales price. The home will go quick at this price. Not even close to an acre of usable ground as there is a slope that is in the lot. As you said zk it is more desireable in this part of CV and this will help bring down the comps there.

SD Realtor

[bsrsharma]

SDR,

What could be the reason the buyer bought in 7/05 and wanted to sell in 8/06? At 6%, transaction costs would be about $100K. Was this a case of pure speculation or something else? The reason I am asking this is, I see many transactions like this – buying and then trying to sell in 12 -18 months. Surely, they didn’t plan on living there just for a year.

[bsrsharma]

SDR,

What could be the reason the buyer bought in 7/05 and wanted to sell in 8/06? At 6%, transaction costs would be about $100K. Was this a case of pure speculation or something else? The reason I am asking this is, I see many transactions like this – buying and then trying to sell in 12 -18 months. Surely, they didn’t plan on living there just for a year.

[bsrsharma]

SDR,

What could be the reason the buyer bought in 7/05 and wanted to sell in 8/06? At 6%, transaction costs would be about $100K. Was this a case of pure speculation or something else? The reason I am asking this is, I see many transactions like this – buying and then trying to sell in 12 -18 months. Surely, they didn’t plan on living there just for a year.

[bsrsharma]

SDR,

What could be the reason the buyer bought in 7/05 and wanted to sell in 8/06? At 6%, transaction costs would be about $100K. Was this a case of pure speculation or something else? The reason I am asking this is, I see many transactions like this – buying and then trying to sell in 12 -18 months. Surely, they didn’t plan on living there just for a year.

[bsrsharma]

SDR,

What could be the reason the buyer bought in 7/05 and wanted to sell in 8/06? At 6%, transaction costs would be about $100K. Was this a case of pure speculation or something else? The reason I am asking this is, I see many transactions like this – buying and then trying to sell in 12 -18 months. Surely, they didn’t plan on living there just for a year.

[gracie]

what is amazing to me is that land is still be cleared and by Pardee Homes to start a new set of homes/development they plan to build off Camino del Sur. More homes?

[gracie]

what is amazing to me is that land is still be cleared and by Pardee Homes to start a new set of homes/development they plan to build off Camino del Sur. More homes?

[gracie]

what is amazing to me is that land is still be cleared and by Pardee Homes to start a new set of homes/development they plan to build off Camino del Sur. More homes?

[gracie]

what is amazing to me is that land is still be cleared and by Pardee Homes to start a new set of homes/development they plan to build off Camino del Sur. More homes?

[Author]

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