[ocrenter]

let’s do another update, schizo…

from the 3700 sqft Sienna Ridge REO that sold for $870,000 in September, let’s walk down a few homes and make a left on to Sienna Ridge Place, then make another left onto Camino San Thomas, where you’ll see…

10219 CAMINO SAN THOMAS, SD – Rancho Bernardo, CA 92127
–another 3700 sqft REO, just came on for $839,900…

hmmm… that’s $30k in 2 months…

now the bank was losing around $11000/month on that Sienna Ridge REO from early 2006 to its sale in 9/2007. good thing the bank found its buyer in September.

still not fast enough for you???

[ocrenter]

let’s do another update, schizo…

from the 3700 sqft Sienna Ridge REO that sold for $870,000 in September, let’s walk down a few homes and make a left on to Sienna Ridge Place, then make another left onto Camino San Thomas, where you’ll see…

10219 CAMINO SAN THOMAS, SD – Rancho Bernardo, CA 92127
–another 3700 sqft REO, just came on for $839,900…

hmmm… that’s $30k in 2 months…

now the bank was losing around $11000/month on that Sienna Ridge REO from early 2006 to its sale in 9/2007. good thing the bank found its buyer in September.

still not fast enough for you???

[ocrenter]

let’s do another update, schizo…

from the 3700 sqft Sienna Ridge REO that sold for $870,000 in September, let’s walk down a few homes and make a left on to Sienna Ridge Place, then make another left onto Camino San Thomas, where you’ll see…

10219 CAMINO SAN THOMAS, SD – Rancho Bernardo, CA 92127
–another 3700 sqft REO, just came on for $839,900…

hmmm… that’s $30k in 2 months…

now the bank was losing around $11000/month on that Sienna Ridge REO from early 2006 to its sale in 9/2007. good thing the bank found its buyer in September.

still not fast enough for you???

[ocrenter]

hmmm… isn’t Stan Pac the master builder at Del Sur too?

[ocrenter]

hmmm… isn’t Stan Pac the master builder at Del Sur too?

[ocrenter]

hmmm… isn’t Stan Pac the master builder at Del Sur too?

[ocrenter]

hmmm… isn’t Stan Pac the master builder at Del Sur too?

[ocrenter]

hmmm… isn’t Stan Pac the master builder at Del Sur too?

[ocrenter]

I was going to feature this house too.

but here’s what I found:

13564 Lavender Way San Diego CA 92130
–06/2007: sold for $670,000

same model, with one major difference, this one is one house away from the slope of the 56.

if only I waited…

[ocrenter]

I was going to feature this house too.

but here’s what I found:

13564 Lavender Way San Diego CA 92130
–06/2007: sold for $670,000

same model, with one major difference, this one is one house away from the slope of the 56.

if only I waited…

[ocrenter]

I was going to feature this house too.

but here’s what I found:

13564 Lavender Way San Diego CA 92130
–06/2007: sold for $670,000

same model, with one major difference, this one is one house away from the slope of the 56.

if only I waited…

[ocrenter]

I was going to feature this house too.

but here’s what I found:

13564 Lavender Way San Diego CA 92130
–06/2007: sold for $670,000

same model, with one major difference, this one is one house away from the slope of the 56.

if only I waited…

[ocrenter]

I was going to feature this house too.

but here’s what I found:

13564 Lavender Way San Diego CA 92130
–06/2007: sold for $670,000

same model, with one major difference, this one is one house away from the slope of the 56.

if only I waited…

[ocrenter]

good grief. exactly how fast did you guys want to see the drop?

here’s a little prospective.

This 17019 Sienna Ridge 3,700 sqft home was sold by the builder to the flopper that foreclosed in 3/2006 for $1.064 million!

after exactly a year and a half, now it sells for $870,000, that’s a freaking $194,500 drop in a year and a half! or an annualized loss of $130k.

but a 19% pricing freefall over a year and a half isn’t good enough for you folks. good grief guys, this isn’t the stock market, this is the housing market. this type of drop is as fast as it gets. you can’t go to Perris or Beaumont or Murrieta and point to their 50% drop within a year and claim defeat.

now as far as the question of whether the buyers that purchased our 3700 sqft REO for $870k got a good deal. I do ask that you drive down half a block, make a left on to Sienna Hills Drive, and ask yourself, should these guys have waited and purchased this 4300 sqft REO on 10230 Sienna Hills for $899,900? yup, that’s $30k more for 600 sqft if they just waited an extra month.

[ocrenter]

good grief. exactly how fast did you guys want to see the drop?

here’s a little prospective.

This 17019 Sienna Ridge 3,700 sqft home was sold by the builder to the flopper that foreclosed in 3/2006 for $1.064 million!

after exactly a year and a half, now it sells for $870,000, that’s a freaking $194,500 drop in a year and a half! or an annualized loss of $130k.

but a 19% pricing freefall over a year and a half isn’t good enough for you folks. good grief guys, this isn’t the stock market, this is the housing market. this type of drop is as fast as it gets. you can’t go to Perris or Beaumont or Murrieta and point to their 50% drop within a year and claim defeat.

now as far as the question of whether the buyers that purchased our 3700 sqft REO for $870k got a good deal. I do ask that you drive down half a block, make a left on to Sienna Hills Drive, and ask yourself, should these guys have waited and purchased this 4300 sqft REO on 10230 Sienna Hills for $899,900? yup, that’s $30k more for 600 sqft if they just waited an extra month.

[Author]

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