short sale in encinitas ranch – good value?

[lu]

What do folks think about this listing?

645 Brae Mar Court, Encinitas, CA

It’s shown as for sale on zillow for $995K but it’s actually now a short sale owned by WaMu — going for $800K. The last sale was for $1.2M in Jan of ’07 (0% down of course).

That’s a 33% haircut — any thoughts on whether that brings the property back down to “fair value”? It looks like the 2003 price point was hovering around $750K or so.

The comps on zillow all show upwards of $1M, even up to $1.5M.

Any thoughts from the realtors out there?

– Lu

[Anonymous]

If it’s owned by WaMu it is not a short sale.

It’s an REO.

You know, you can tune a piano, but you can’t tune a fish.

[Anonymous]

If it’s owned by WaMu it is not a short sale.

It’s an REO.

You know, you can tune a piano, but you can’t tune a fish.

[Anonymous]

If it’s owned by WaMu it is not a short sale.

It’s an REO.

You know, you can tune a piano, but you can’t tune a fish.

[Anonymous]

If it’s owned by WaMu it is not a short sale.

It’s an REO.

You know, you can tune a piano, but you can’t tune a fish.

[Anonymous]

If it’s owned by WaMu it is not a short sale.

It’s an REO.

You know, you can tune a piano, but you can’t tune a fish.

[SD Realtor]

Colombo I can honestly say I have never heard that quote before!

I was cracking up.

D Realtor

[SD Realtor]

Colombo I can honestly say I have never heard that quote before!

I was cracking up.

D Realtor

[SD Realtor]

Colombo I can honestly say I have never heard that quote before!

I was cracking up.

D Realtor

[SD Realtor]

Colombo I can honestly say I have never heard that quote before!

I was cracking up.

D Realtor

[SD Realtor]

Colombo I can honestly say I have never heard that quote before!

I was cracking up.

D Realtor

[PadreBrian]

2003 price point was hovering around $750K

If 2001 Prices are where the market should be (before the free money was being handed out by the reserve), then 650-700k is where you should aim for.

[PadreBrian]

2003 price point was hovering around $750K

If 2001 Prices are where the market should be (before the free money was being handed out by the reserve), then 650-700k is where you should aim for.

[PadreBrian]

2003 price point was hovering around $750K

If 2001 Prices are where the market should be (before the free money was being handed out by the reserve), then 650-700k is where you should aim for.

[PadreBrian]

2003 price point was hovering around $750K

If 2001 Prices are where the market should be (before the free money was being handed out by the reserve), then 650-700k is where you should aim for.

[Author]

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