bubbleinfo.com

In anticipation of another fourth-quarter bulk purchase attempt, let's keep an eye on those REOs that might work as a rental property.  The first six are in Oceanside, and the last is in a decent part of Vista.  'BTB' is the 'back to beneficiary' price, the amount that was the likely opening bid at the trustee sale.

3 br/2 ba 1,074 sf

$170,000  SP 2/2000

$348,705  BTB 2/08

$199,900  LP 3/08

10 days on market

YB:1970  6,000 sf lot

Based on this one, you can say we're almost back to 2000 prices.  With 20% down payment you should be able to break-even the first day, the rents should be around $1,200 or higher.  Yes it's an edgy part of town, so pick your spots carefully.

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4 br/2 ba 1,604 sf

$450,000  SP 11/06

$121,000  BTB 3/08

$207,000  LP 4/08

1 day on market

YB:1971   6,300 sf lot

Needs TLC but a 4 br should get around $1,500 per month for rent.

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4 br/2 ba,  1,411 sf

$316,500  SP 9/03

$370,000  BTB 12/07

$214,900  LP 1/08

101 days on market

YB: 1973  6,600 sf lot

The original list price was $269,900 in January, so the bank is moving on this one.  it would break-even with 20% down around $150,000 to $170,000.

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3 br/2 ba, 1,210 sf

$324,000  SP 10/03

$274,050  BTB 2/08

$224,900  LP 4/08

13 days on market

YB: 1986  8,800 sf lot

Nice yard and on a culdesac, but these were cheaply made with some of that presswood siding.

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4 br/2 ba  1,279 sf

$455,000  SP 10/04

$444,085  BTB 1/08

$234,900  LP 4/08

YB: 1986  6,200 sf lot

2 days on market

Fannie Mae foreclosed on this one - I guess they haven't got the memo that lenders should reduce their opening bid at the trustee sale to see if they can dump them there. Most of the foreclosures I've seen by Fannie have had a high BTB number.

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3 br/2 ba 1,332 sf

$480,000  SP 4/05

$304,383  BTB 1/08

$369,000  LP 1/08

YB: 1979  9,174 sf lot

74 days on market

This doesn't seem like that great of a deal, but I don't remember seeing remarks like this before: "Call for details on workable pricing WELL BELOW LIST PRICE with 4% to agent".

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3 br/1.5 ba  1,221 sf

$525,000  SP 9/05

$281,705  BTB 4/08

$309,900  LP 4/08

1 day on market

YB:1986  16,000 sf lot

This would be better for an owner-occupant.  It has a big lot on a culdesac in a pretty good part of Vista, but I might be biased - I went to Shadow Mountain High School.  Yes, the same HS that Curt Schilling and Mike Bibby attended.

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I still haven't seen or heard of any bulk purchases happening yet, but it can't be long now - if you hear of any, let us know!