Here's a perfect bubble poster child and possibly some MLS hanky panky. It's nothing criminal but it looks like this guy as no intention of selling this house.
17939 Timberview up in Bridle Creek was purchased right at the peak and actually closed just as the crash was starting. The home was built in 2006 but didn't close until Jan 2007. This poor fella dropped a cool $1,000,000 on this house. That's right a million dollars. Alright technically he probably dropped nothing other than his signature on some loan docs. Some idiot lender dropped $1M on this thing. He must have upgraded everything as this floorplan was "only" selling for around $800k. There's no landscaping to speak of but he poured enough concrete to build a runway.
Fast forward 3 years and he lists it in May as a short sale for $392k. So a 60% drop in value in 3 years. The price might seem like a good deal for a home in this tract, but for this floor plan with no landscaping that's actually pretty close. If it's highly upgraded inside he probably has it listed a little on the low side. The comps for that floor plan range from $375k to $450k. I actually put an offer in on the $45ok house. That one was spectacular though. All upgraded inside and out with a pool and Viking appliances.
But here's were this listing is questionable. It lists for a day and then goes on hold for a month. I'm not sure what's going on here but it seems like someone is playing games with a bank.
| Jan 02, 2011 | Relisted (Active) | -- | -- | CARETS #P738448 | | |
| Dec 20, 2010 | Delisted (Hold) | -- | -- | CARETS #P738448 | | |
| Dec 20, 2010 | Relisted (Active) | -- | -- | CARETS #P738448 | | |
| Dec 07, 2010 | Delisted (Hold) | -- | -- | CARETS #P738448 | | |
| Dec 06, 2010 | Relisted (Active) | -- | -- | CARETS #P738448 | | |
| Nov 11, 2010 | Delisted (Hold) | -- | -- | CARETS #P738448 | | |
| Nov 10, 2010 | Relisted (Active) | -- | -- | CARETS #P738448 | | |
| Oct 05, 2010 | Delisted (Hold) | -- | -- | CARETS #P738448 | | |
| Oct 05, 2010 | Relisted (Active) | -- | -- | CARETS #P738448 | | |
| Sep 25, 2010 | Delisted (Hold) | -- | -- | CARETS #P738448 | | |
| Sep 25, 2010 | Relisted (Active) | -- | -- | CARETS #P738448 | | |
| Sep 01, 2010 | Delisted (Hold) | -- | -- | CARETS #P738448 | | |
| Sep 01, 2010 | Relisted (Active) | -- | -- | CARETS #P738448 | | |
| Aug 17, 2010 | Delisted (Hold) | -- | -- | CARETS #P738448 | | |
| Aug 15, 2010 | Relisted (Active) | -- | -- | CARETS #P738448 | | |
| Jul 26, 2010 | Delisted (Hold) | -- | -- | CARETS #P738448 | | |
| Jul 21, 2010 | Relisted (Active) | -- | -- | CARETS #P738448 | | |
| Jun 09, 2010 | Delisted (Hold) | -- | -- | CARETS #P738448 | | |
| Jun 08, 2010 | Listed (Active) | $392,000 | -- | CARETS #P738448 | | |
And one more to start off the new year.Here's a tale of two foreclosures. Unfortunately it's on the same house. As the crow flies this house is probably about a mile from the Bridle Creek house. That mile and a different zip code makes this house worth about $100k less though. 19159 Eldorado is over in "the boulders" off Cajalco and Wood streets. This is technically Perris although it's actually no where near Perris. It's Perris in zip code only. Like most of the homes in this area this tract has large homes on large lots. Horsey properties or folks with lotsa toys buy these. This house was built in 2005 and sold for $523k. In July of 2008 the bank too the home back and it was sold a few months later for $310k. These people probably didn't put much money into this deal as it was foreclosed on again in May 2010. They could not have made very many payments to end up foreclosed on only 20 months after purchasing. The amount the lender was seeking at the trustee sale was actually $25k more than the purchase price. I guess they were actually trying to recoup those late fees and back payments. Now it's for sale again. You can pick this baby up for the bargain price of $280k. That's not too shabby for a newer 3000 s/f, 5 bedroom home on a 1/2 acre lot.
Happy New Year
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