SFR down 25% in La Jolla from 2003 to now: 1415 Cottontail Ln

[cantab]

See http://www.redfin.com/CA/La-Jolla/1415-Cottontail-Ln-92037/home/4935000

Nov 24, 2003 Sold $1,565,000
Apr 07, 2009 Sold $1,179,017

Does anyone have any knowledge of this property? Typical SFR prices in La Jolla are still higher than in 2003.

[img_assist|nid=10890|title=1415 Cottontail Ln|link=node|align=left|width=100|height=67]

[SD Realtor]

This is the trustee sale.

[SD Realtor]

This is the trustee sale.

[SD Realtor]

This is the trustee sale.

[SD Realtor]

This is the trustee sale.

[SD Realtor]

This is the trustee sale.

[XBoxBoy]

This house has a fairly checkered past over the last couple of years and is an interesting lesson for anyone who still thinks the coast is immune.

In March 2008 it was listed for sale for a mere 2.5mil. Over the course of the next year it was reduced in price to 1.5mil.

http://www.sdlookup.com/MLS-081019724-1415_Cottontail_Ln_La_Jolla_Ca_92037

Looks like NOD was filed in Dec. 2008, and now it has been foreclosed on. There were two loans, one for $1,280,000 and the second for $500,000

Interestingly, the listing on sdlookup shows the place as pending, but somehow I doubt that’s accurate if it was foreclosed on earlier this month.

I’m not sure if the 1,179,017 is just the bank taking it back or if someone bought it off the courthouse steps. Maybe SDR can clarify that.

Worth mentioning is that a neighbor is on the market at 1.45mil and also has NOD filed, so there might be another comp killer on this street if the bank takes that one back.

http://www.sdlookup.com/Property-B05D648F-1415_Cottontail_Ln_La_Jolla_CA_92037

Oh yeah, almost forgot. There was another bank REO around the corner on La Jolla Rancho that is now pending. Don’t know what it will close at, but it went pending at 1,949,000 which was a little more than 500k off the 2005 purchase price

http://www.sdlookup.com/MLS-080082556-942_La_Jolla_Rancho_Rd_La_Jolla_Ca_92037

[XBoxBoy]

This house has a fairly checkered past over the last couple of years and is an interesting lesson for anyone who still thinks the coast is immune.

In March 2008 it was listed for sale for a mere 2.5mil. Over the course of the next year it was reduced in price to 1.5mil.

http://www.sdlookup.com/MLS-081019724-1415_Cottontail_Ln_La_Jolla_Ca_92037

Looks like NOD was filed in Dec. 2008, and now it has been foreclosed on. There were two loans, one for $1,280,000 and the second for $500,000

Interestingly, the listing on sdlookup shows the place as pending, but somehow I doubt that’s accurate if it was foreclosed on earlier this month.

I’m not sure if the 1,179,017 is just the bank taking it back or if someone bought it off the courthouse steps. Maybe SDR can clarify that.

Worth mentioning is that a neighbor is on the market at 1.45mil and also has NOD filed, so there might be another comp killer on this street if the bank takes that one back.

http://www.sdlookup.com/Property-B05D648F-1415_Cottontail_Ln_La_Jolla_CA_92037

Oh yeah, almost forgot. There was another bank REO around the corner on La Jolla Rancho that is now pending. Don’t know what it will close at, but it went pending at 1,949,000 which was a little more than 500k off the 2005 purchase price

http://www.sdlookup.com/MLS-080082556-942_La_Jolla_Rancho_Rd_La_Jolla_Ca_92037

[XBoxBoy]

This house has a fairly checkered past over the last couple of years and is an interesting lesson for anyone who still thinks the coast is immune.

In March 2008 it was listed for sale for a mere 2.5mil. Over the course of the next year it was reduced in price to 1.5mil.

http://www.sdlookup.com/MLS-081019724-1415_Cottontail_Ln_La_Jolla_Ca_92037

Looks like NOD was filed in Dec. 2008, and now it has been foreclosed on. There were two loans, one for $1,280,000 and the second for $500,000

Interestingly, the listing on sdlookup shows the place as pending, but somehow I doubt that’s accurate if it was foreclosed on earlier this month.

I’m not sure if the 1,179,017 is just the bank taking it back or if someone bought it off the courthouse steps. Maybe SDR can clarify that.

Worth mentioning is that a neighbor is on the market at 1.45mil and also has NOD filed, so there might be another comp killer on this street if the bank takes that one back.

http://www.sdlookup.com/Property-B05D648F-1415_Cottontail_Ln_La_Jolla_CA_92037

Oh yeah, almost forgot. There was another bank REO around the corner on La Jolla Rancho that is now pending. Don’t know what it will close at, but it went pending at 1,949,000 which was a little more than 500k off the 2005 purchase price

http://www.sdlookup.com/MLS-080082556-942_La_Jolla_Rancho_Rd_La_Jolla_Ca_92037

[XBoxBoy]

This house has a fairly checkered past over the last couple of years and is an interesting lesson for anyone who still thinks the coast is immune.

In March 2008 it was listed for sale for a mere 2.5mil. Over the course of the next year it was reduced in price to 1.5mil.

http://www.sdlookup.com/MLS-081019724-1415_Cottontail_Ln_La_Jolla_Ca_92037

Looks like NOD was filed in Dec. 2008, and now it has been foreclosed on. There were two loans, one for $1,280,000 and the second for $500,000

Interestingly, the listing on sdlookup shows the place as pending, but somehow I doubt that’s accurate if it was foreclosed on earlier this month.

I’m not sure if the 1,179,017 is just the bank taking it back or if someone bought it off the courthouse steps. Maybe SDR can clarify that.

Worth mentioning is that a neighbor is on the market at 1.45mil and also has NOD filed, so there might be another comp killer on this street if the bank takes that one back.

http://www.sdlookup.com/Property-B05D648F-1415_Cottontail_Ln_La_Jolla_CA_92037

Oh yeah, almost forgot. There was another bank REO around the corner on La Jolla Rancho that is now pending. Don’t know what it will close at, but it went pending at 1,949,000 which was a little more than 500k off the 2005 purchase price

http://www.sdlookup.com/MLS-080082556-942_La_Jolla_Rancho_Rd_La_Jolla_Ca_92037

[XBoxBoy]

This house has a fairly checkered past over the last couple of years and is an interesting lesson for anyone who still thinks the coast is immune.

In March 2008 it was listed for sale for a mere 2.5mil. Over the course of the next year it was reduced in price to 1.5mil.

http://www.sdlookup.com/MLS-081019724-1415_Cottontail_Ln_La_Jolla_Ca_92037

Looks like NOD was filed in Dec. 2008, and now it has been foreclosed on. There were two loans, one for $1,280,000 and the second for $500,000

Interestingly, the listing on sdlookup shows the place as pending, but somehow I doubt that’s accurate if it was foreclosed on earlier this month.

I’m not sure if the 1,179,017 is just the bank taking it back or if someone bought it off the courthouse steps. Maybe SDR can clarify that.

Worth mentioning is that a neighbor is on the market at 1.45mil and also has NOD filed, so there might be another comp killer on this street if the bank takes that one back.

http://www.sdlookup.com/Property-B05D648F-1415_Cottontail_Ln_La_Jolla_CA_92037

Oh yeah, almost forgot. There was another bank REO around the corner on La Jolla Rancho that is now pending. Don’t know what it will close at, but it went pending at 1,949,000 which was a little more than 500k off the 2005 purchase price

http://www.sdlookup.com/MLS-080082556-942_La_Jolla_Rancho_Rd_La_Jolla_Ca_92037

[SD Realtor]

xbox it is not pending anymore BUT on the MLS it is pending but that is the case of a REMAX listing agent being asleep at the wheel and listing the property as pending during the short sale process and forgetting to cancel the listing. Good to see she is on top of things.

At any rate the current owner according to the realist tax roll is Morgan Stanley Trust. To be honest, I cannot say if that is the investment bank or a private trust that happens to have the same name. So I do not want to make a conclusive statement of whether it went back to the bank or not.

[SD Realtor]

xbox it is not pending anymore BUT on the MLS it is pending but that is the case of a REMAX listing agent being asleep at the wheel and listing the property as pending during the short sale process and forgetting to cancel the listing. Good to see she is on top of things.

At any rate the current owner according to the realist tax roll is Morgan Stanley Trust. To be honest, I cannot say if that is the investment bank or a private trust that happens to have the same name. So I do not want to make a conclusive statement of whether it went back to the bank or not.

[SD Realtor]

xbox it is not pending anymore BUT on the MLS it is pending but that is the case of a REMAX listing agent being asleep at the wheel and listing the property as pending during the short sale process and forgetting to cancel the listing. Good to see she is on top of things.

At any rate the current owner according to the realist tax roll is Morgan Stanley Trust. To be honest, I cannot say if that is the investment bank or a private trust that happens to have the same name. So I do not want to make a conclusive statement of whether it went back to the bank or not.

[SD Realtor]

xbox it is not pending anymore BUT on the MLS it is pending but that is the case of a REMAX listing agent being asleep at the wheel and listing the property as pending during the short sale process and forgetting to cancel the listing. Good to see she is on top of things.

At any rate the current owner according to the realist tax roll is Morgan Stanley Trust. To be honest, I cannot say if that is the investment bank or a private trust that happens to have the same name. So I do not want to make a conclusive statement of whether it went back to the bank or not.

[Author]

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