San Marcos Price Reduction

[sdrealtor]

OCR,
You are speculating again. No one knows what it will take to get it done right now. There are two of the larger floorplans in escrow right now and some very recent sales well over 500K. Also you are comparing the smaller floorplan.

Bottomline, I was spot on. You were a bit premature should we say?

What the future brings? Well that’s the fun part we get to watch.

sdr

[sdrealtor]

OCR,
You are speculating again. No one knows what it will take to get it done right now. There are two of the larger floorplans in escrow right now and some very recent sales well over 500K. Also you are comparing the smaller floorplan.

Bottomline, I was spot on. You were a bit premature should we say?

What the future brings? Well that’s the fun part we get to watch.

sdr

[ocrenter]

You are speculating again. No one knows what it will take to get it done right now. There are two of the larger floorplans in escrow right now and some very recent sales well over 500K. Also you are comparing the smaller floorplan.

Bottomline, I was spot on. You were a bit premature should we say?

here’s a larger floorplan asking in the mid-400’s.

584 VIA DEL CABALLO, San Marcos, CA 92078
–2,259 sqft for $459,000 to $475,000.

is this also a short sale attempt that we shouldn’t count?

you like to pull the “I’m right and you are wrong” game. I like to simply point out that prices are now entering into the $400’s in this neighborhood. Which is firmly in 2003 pricing. As for the folks that bought or are pending at prices “well over 500k,” just more knife catchers IMHO.

[ocrenter]

You are speculating again. No one knows what it will take to get it done right now. There are two of the larger floorplans in escrow right now and some very recent sales well over 500K. Also you are comparing the smaller floorplan.

Bottomline, I was spot on. You were a bit premature should we say?

here’s a larger floorplan asking in the mid-400’s.

584 VIA DEL CABALLO, San Marcos, CA 92078
–2,259 sqft for $459,000 to $475,000.

is this also a short sale attempt that we shouldn’t count?

you like to pull the “I’m right and you are wrong” game. I like to simply point out that prices are now entering into the $400’s in this neighborhood. Which is firmly in 2003 pricing. As for the folks that bought or are pending at prices “well over 500k,” just more knife catchers IMHO.

[ocrenter]

You are speculating again. No one knows what it will take to get it done right now. There are two of the larger floorplans in escrow right now and some very recent sales well over 500K. Also you are comparing the smaller floorplan.

Bottomline, I was spot on. You were a bit premature should we say?

here’s a larger floorplan asking in the mid-400’s.

584 VIA DEL CABALLO, San Marcos, CA 92078
–2,259 sqft for $459,000 to $475,000.

is this also a short sale attempt that we shouldn’t count?

you like to pull the “I’m right and you are wrong” game. I like to simply point out that prices are now entering into the $400’s in this neighborhood. Which is firmly in 2003 pricing. As for the folks that bought or are pending at prices “well over 500k,” just more knife catchers IMHO.

[ocrenter]

You are speculating again. No one knows what it will take to get it done right now. There are two of the larger floorplans in escrow right now and some very recent sales well over 500K. Also you are comparing the smaller floorplan.

Bottomline, I was spot on. You were a bit premature should we say?

here’s a larger floorplan asking in the mid-400’s.

584 VIA DEL CABALLO, San Marcos, CA 92078
–2,259 sqft for $459,000 to $475,000.

is this also a short sale attempt that we shouldn’t count?

you like to pull the “I’m right and you are wrong” game. I like to simply point out that prices are now entering into the $400’s in this neighborhood. Which is firmly in 2003 pricing. As for the folks that bought or are pending at prices “well over 500k,” just more knife catchers IMHO.

[SD Realtor]

Just my two cents here… This particular subdivision is Belleza. The property you just listed OC does have a lis pendens filed against it and a 450k recorded mortgage so I do believe it is going to be a short sale. Indeed it is priced aggressively which IMO is what is needed these days.

This is one of those cases where you can look at the data and interpret it in either direction. Yes as sdrealtor pointed out there were two sales in 9/24 and 8/22 but there have been no sales since. There is an additional home that is pending at 490k but it is the small 1909sf plan. Nothing else is pending. I would say prices are “heading” towards 2003 like you pointed out OC. Those that really really want to sell will IMO need to price more along those lines.

Also there have been 9 unique expirations/cancelleds verses 7 solds for this subdivision for listings hitting the MLS since 1/1/07.

SD Realtor

[SD Realtor]

Just my two cents here… This particular subdivision is Belleza. The property you just listed OC does have a lis pendens filed against it and a 450k recorded mortgage so I do believe it is going to be a short sale. Indeed it is priced aggressively which IMO is what is needed these days.

This is one of those cases where you can look at the data and interpret it in either direction. Yes as sdrealtor pointed out there were two sales in 9/24 and 8/22 but there have been no sales since. There is an additional home that is pending at 490k but it is the small 1909sf plan. Nothing else is pending. I would say prices are “heading” towards 2003 like you pointed out OC. Those that really really want to sell will IMO need to price more along those lines.

Also there have been 9 unique expirations/cancelleds verses 7 solds for this subdivision for listings hitting the MLS since 1/1/07.

SD Realtor

[SD Realtor]

Just my two cents here… This particular subdivision is Belleza. The property you just listed OC does have a lis pendens filed against it and a 450k recorded mortgage so I do believe it is going to be a short sale. Indeed it is priced aggressively which IMO is what is needed these days.

This is one of those cases where you can look at the data and interpret it in either direction. Yes as sdrealtor pointed out there were two sales in 9/24 and 8/22 but there have been no sales since. There is an additional home that is pending at 490k but it is the small 1909sf plan. Nothing else is pending. I would say prices are “heading” towards 2003 like you pointed out OC. Those that really really want to sell will IMO need to price more along those lines.

Also there have been 9 unique expirations/cancelleds verses 7 solds for this subdivision for listings hitting the MLS since 1/1/07.

SD Realtor

[SD Realtor]

Just my two cents here… This particular subdivision is Belleza. The property you just listed OC does have a lis pendens filed against it and a 450k recorded mortgage so I do believe it is going to be a short sale. Indeed it is priced aggressively which IMO is what is needed these days.

This is one of those cases where you can look at the data and interpret it in either direction. Yes as sdrealtor pointed out there were two sales in 9/24 and 8/22 but there have been no sales since. There is an additional home that is pending at 490k but it is the small 1909sf plan. Nothing else is pending. I would say prices are “heading” towards 2003 like you pointed out OC. Those that really really want to sell will IMO need to price more along those lines.

Also there have been 9 unique expirations/cancelleds verses 7 solds for this subdivision for listings hitting the MLS since 1/1/07.

SD Realtor

[ocrenter]

thanks for the additional info SD Realtor.

now here’s something fun:

549 ECHO, San Marcos, CA 92078
–3,715 sqft
–currently a REO with countrywide
–asking for $599,000. looks like this is because the prior owner took the AC unit with him when he took off prior to the auction.

I remember seeing this place for sale at $670k back earlier this year.

[ocrenter]

thanks for the additional info SD Realtor.

now here’s something fun:

549 ECHO, San Marcos, CA 92078
–3,715 sqft
–currently a REO with countrywide
–asking for $599,000. looks like this is because the prior owner took the AC unit with him when he took off prior to the auction.

I remember seeing this place for sale at $670k back earlier this year.

[ocrenter]

thanks for the additional info SD Realtor.

now here’s something fun:

549 ECHO, San Marcos, CA 92078
–3,715 sqft
–currently a REO with countrywide
–asking for $599,000. looks like this is because the prior owner took the AC unit with him when he took off prior to the auction.

I remember seeing this place for sale at $670k back earlier this year.

[ocrenter]

thanks for the additional info SD Realtor.

now here’s something fun:

549 ECHO, San Marcos, CA 92078
–3,715 sqft
–currently a REO with countrywide
–asking for $599,000. looks like this is because the prior owner took the AC unit with him when he took off prior to the auction.

I remember seeing this place for sale at $670k back earlier this year.

[patientlywaiting]

I like to simply point out that prices are now entering into the $400's in this neighborhood. Which is firmly in 2003 pricing. As for the folks that bought or are pending at prices "well over 500k," just more knife catchers IMHO.

Its seems to me that OC renter identified a trend.   Just like realtors who identified a trend on the way up, asked for the moon and got it.  It works the same on the way down. 

Thanks, ocrenter, for a  super informative, and fun blog.  You're make a great contribution to the real estate bloggosphere.  

 

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