These are mid-range active listings of REOs around North County. The TS is the price at the trustee sale at which the bank took it back - meaning no bidder would pay that amount, in cash, on the steps of the courthouse.
3440 Ann Dr., Carlsbad
3 br/2 ba, 1,568 sf
$656,000 SP 6/05
$427,925 TS 12/07
$515,000 LP
DOM 17
In the heart of Old Carlsbad near the high school - close enough that you'll get a fabulous experience of today's youth. Because the parking lot at CHS is too small, the kids park in the neighborhood, and this house is a block away. Enjoy fast-food wrappers thrown in your yard most days of the week! Foreclosed owner from San Jose never tried to sell, juts milked it for the rent.
YB: 1960, HOA & MR = 0
********************************************************************
4330 El Capitan, Carlsbad
3 br/2.5 ba 1,855 sf
$670,000 SP 9/04
$529,384 TS 12/07
$525,000 LP
DOM = 37
This fell out of escrow recently, but is a decent buy for a newer tract house with no fees. It's a little rough around the edges and has a smaller yard, but you couldn't do a lot better for this money today in Carlsbad.
YB: 1988 HOA & MR = $0
*********************************************************************
3965 Hibiscus, Carlsbad
3 br/2 ba 1,313 sf
$780,000 SP 5/06
$672,463 TS 8/07
$569,900 LP
DOM = 15
It's not easy to find a single-family residence on a 10,000 sf lot west of the I-5 freeway for this money in Carlsbad, but some people don't like the neighborhood - heck, it's in the path of progress!
YB: 1962, HOA & MR = 0
*********************************************************************
2668 Peppertree, Carlsbad
4 br/3.5 ba, 3,019 sf
$948,500 SP 10/05
$813,017 TS 1/08
$759,000 LP
DOM = 36
In Bressi Ranch, where the comps are undergoing tumultuous revolt. A 2,693 sf house closed for $680,000 on 2/11/08, and a 2,812 sf house closed for $900,000 on 2/13/08. Never mind the intra-family sale of $300,000. When the comps have that type of spread, it makes buyers pause.
YB: 2005, HOA = $193, MR = $203
********************************************************************
2229 Lagoon View, Cardiff
3 br/2.5 ba, 2,245 sf
$523,000 SP 11/02
$680,000 TS 6/07
$713,000 LP
DOM = 114
In gated Sandy Point east of the I-5, this is the cheapest listing on the street - the others are $795,000 and $895,000, but they've both been hanging around since September. This vintage (1988), like El Capitan above, was when builders were using plastic plumbing, and there was the big class action lawsuit. Check to see if the house has been retro-fitted, because if not, the lawsuit has closed, and you'll be on your own if you want to replace with copper pipes. This house was also a foreclosure in 1996, selling for $268,000.
*********************************************************************
16620 Cimarron Crest, 4S Ranch
4 br/3 ba, 3,444 sf
$527,000 SP 4/02
$950,000 SP 5/07 100% fin.
$789,664 TS
$789,900 LP
DOM = 36
This was probably a first-payment default, and notice to 4S sellers looking for $1 million-plus that you are being undercut by the banks. Will it matter to future buyers looking back at this one someday that it was one of those goofy 'community-friendly' plans that has the garage in back off the alley, eating up the whole backyard? Probably not, all they'll be seeing is about $200/sf.
YB: 2002, HOA = $89, MR = $187
*********************************************************************
12412 Carmel Cape, Carmel Valley
3 br/3 ba, 2,043 sf
$684,000 SP 6/06
$664,864 TS 12/07
$724,500 LP
DOM = 45
Even the banks are optimistic in Carmel Valley - this one is trying to turn a profit.
YB: 1984, HOA & MR = 0