Perhaps banks are finally lowering prices on REOs?

[DCRogers]

Here’s one in my neighborhood:

3596 SYDNEY PL, SD – Normal Heights, CA 92116

“Bank owned home! Very impressive custom home on 1 acre w/views of mission valley. Entire upstairs is a very large master suite w/huge walkin closet & bath. Upgrades thru out home include: granite counters,custom flooring,great fireplace, finished basement.”

http://www.ziprealty.com/buy_a_home/logged_in/search/home_detail.jsp?listing_num=071065316&page=1&property_type=SFR&mls=mls_sandiego&cKey=3bg5lsc7&source=SANDICOR

Now, with a list price of $894,900, 4 bed, 3 bath, 2500sf, on 1 acre, that might actually get a few sniffs. But I note it because the bank is actually accepting the bath it has to take to get some movement. Here is the sales history (the most recent sale is the bank taking it back, I think… perhaps the 80% on a 80/20 loan…)

Sale History
06/21/2007: $992,427
11/23/2005: $1,200,000
11/10/2003: $730,000

10% bath on their loan amount, not including other costs… and with the new price, the home is down 25% from the $1.2M sale less than two years ago…

[Allan from Fallbrook]

That is a really nice home. I think it is still overpriced, but I don’t imagine it will be much trouble to find a buyer at that price, especially given the plot size and those views.

It’s a house with a lot of character.

[Allan from Fallbrook]

That is a really nice home. I think it is still overpriced, but I don’t imagine it will be much trouble to find a buyer at that price, especially given the plot size and those views.

It’s a house with a lot of character.

[Allan from Fallbrook]

That is a really nice home. I think it is still overpriced, but I don’t imagine it will be much trouble to find a buyer at that price, especially given the plot size and those views.

It’s a house with a lot of character.

[temeculaguy]

I hate zip, no zip links, I cannot remember another password, my brain is full.

[temeculaguy]

I hate zip, no zip links, I cannot remember another password, my brain is full.

[temeculaguy]

I hate zip, no zip links, I cannot remember another password, my brain is full.

[DCRogers]

Downside is that the “view” is not of Mission Valley, as claimed; instead, it’s the big climb of Interstate 15 from the valley onto the mesa top, with truck noise from both the uphill climb, and noise from compression braking on the decline…

[DCRogers]

Downside is that the “view” is not of Mission Valley, as claimed; instead, it’s the big climb of Interstate 15 from the valley onto the mesa top, with truck noise from both the uphill climb, and noise from compression braking on the decline…

[DCRogers]

Downside is that the “view” is not of Mission Valley, as claimed; instead, it’s the big climb of Interstate 15 from the valley onto the mesa top, with truck noise from both the uphill climb, and noise from compression braking on the decline…

[DCRogers]

@temeculaguy

Sorry, there doesn’t seem to be a reference to this property in sdlookup.com yet…

[DCRogers]

@temeculaguy

Sorry, there doesn’t seem to be a reference to this property in sdlookup.com yet…

[DCRogers]

@temeculaguy

Sorry, there doesn’t seem to be a reference to this property in sdlookup.com yet…

[temeculaguy]

It wasn’t on redfin but there was a cool little house on the same street.

http://www.redfin.com/stingray/do/printable-listing?listing-id=739279

Too many safety issues for me though. I would certainly smash the glass panes behind the desk when I get out of the chair, I know I would use the bedroom fireplace, kick the covers off in the night and light the house on fire and I drink a lot so I’m sure i would fall in the pool coming out of the garage door, head my head and drown. But it looks cool.

[temeculaguy]

It wasn’t on redfin but there was a cool little house on the same street.

http://www.redfin.com/stingray/do/printable-listing?listing-id=739279

Too many safety issues for me though. I would certainly smash the glass panes behind the desk when I get out of the chair, I know I would use the bedroom fireplace, kick the covers off in the night and light the house on fire and I drink a lot so I’m sure i would fall in the pool coming out of the garage door, head my head and drown. But it looks cool.

[Author]

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