[ra633]

SDrealtor,

Thanks for clarifying, but I’m still confused. It sounds like the source is saying that 1802 just sold, but the County Records still show the original owner. That would make sense, because I don’t think that unit has changed hands before. The original owners probably paid just under $500K for Unit 1802.

As for Unit 1803 – your source has one basic fact correct; it did sell in 2006 for $1.095M. The rest of the info, I’m not sure about. The NOT showed a different Trustee. I wanna say Great Western, or Western something. Also, the Trustee sale was at the end of June (not 7/12).

Anyway, I was just curious whether 1802 or 1803 sold. If 1802 sold for $695 that makes sense (it could have been listed for $825 in 2004-2005. Discovery prices peaked early (July 2004-March 2005), probably because it opened in 2002 and was a very successful investment for flippers in those days. (1803 probably should sell around $700K in today’s market as well. They are the same floor plan, just inverted, with different view orientations).

1803 is a different story. The $1.095 sales price just smells of valuation fraud, or a very foolish buyer.

What I wonder most about Unit 1803 is whether the bank will hold onto the REO property to avoid the $$$ loss this year. Thoughts anyone?

[ra633]

SDrealtor,

Thanks for clarifying, but I’m still confused. It sounds like the source is saying that 1802 just sold, but the County Records still show the original owner. That would make sense, because I don’t think that unit has changed hands before. The original owners probably paid just under $500K for Unit 1802.

As for Unit 1803 – your source has one basic fact correct; it did sell in 2006 for $1.095M. The rest of the info, I’m not sure about. The NOT showed a different Trustee. I wanna say Great Western, or Western something. Also, the Trustee sale was at the end of June (not 7/12).

Anyway, I was just curious whether 1802 or 1803 sold. If 1802 sold for $695 that makes sense (it could have been listed for $825 in 2004-2005. Discovery prices peaked early (July 2004-March 2005), probably because it opened in 2002 and was a very successful investment for flippers in those days. (1803 probably should sell around $700K in today’s market as well. They are the same floor plan, just inverted, with different view orientations).

1803 is a different story. The $1.095 sales price just smells of valuation fraud, or a very foolish buyer.

What I wonder most about Unit 1803 is whether the bank will hold onto the REO property to avoid the $$$ loss this year. Thoughts anyone?

[ra633]

Please double check the unit number. I think it is wrong. If it is the unit that I think it is, I am very surprised it sold because it didn’t sell at a recent Trustee’s sale. This news has a direct impact on me; your reply is greatly appreciated.

[ra633]

Please double check the unit number. I think it is wrong. If it is the unit that I think it is, I am very surprised it sold because it didn’t sell at a recent Trustee’s sale. This news has a direct impact on me; your reply is greatly appreciated.

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