I love my neighborhood and it looks like we'll have some new neighbors at 3153 CalleDe Marejada:
Sprawling Single Story Custom Estate Home, 5 bedrooms, spacious office, 6.5 baths, 3 fireplaces, vaulted ceilings, granite, new stainless steel appliances, crown molding, surround sound speakers, etc. Too many features to list! Awesome backyard featuring covered patios, pool & spa, guest house w/ 2 bedrooms, bath & kitchen, flagstone pathways, pool bath, gazebo and outdoor kitchen island ready to add appliances. 4 car garage with paver motorcourt & half-circle drive.
Date Event Price Appreciation
Mar 10, 2010 Listed $1,599,800 -- VCRDS #10003829
Oct 28, 2009 Sold (Public Records) $1,360,000 -17.3%/yr
Jun 02, 2006 Sold (Public Records) $2,600,000 103.8%/yr
Aug 08, 2003 Sold (Public Records) $350,000 1.2%/yr
Oct 13, 1989 Sold (Public Records) $295,000
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I did the math. The previous owners lost $1000 per day.
20 comments:
"I did the math. The previous owners lost $1000 per day."
Warms the cockles of my heart to see money redistributed thusly. Reminds me of my favorite Barry White song, "My Murst, My Last,My Everything"
Unless they paid all-cash, your comment "the previous owners lost $1000 a day" is not literally true, even if it is true from an accounting perspective. Someone else took much (most?) of the loss when the loan soured.
Nah, the lender lost $1000 per day.
The previous owner lost his down payment and whatever payments he actually bothered making.
I'm far more interested in the 2003-2006 appreciation from $350K to $2.6 million. I have to assume that some serious renovations were undertaken to justify that increase.
Of course you are correct. The actual loses are spread around, downpayment, lost opportunity costs, a send trust deed most likely.
Mortgage fraud nets man 17-year prison sentence
A Haitian man was sentenced Monday to nearly 17 years in prison for leading a mortgage fraud scheme in Phoenix that authorities say cost banks about $9.5 million.
Federal prosecutors say 51-year-old Mario G. Bernadel was convicted last September on 19 counts related to mortgage fraud, including mail, wire and bank fraud plus transactional money laundering.
Authorities say Bernadel led a two-year conspiracy involving the purchase of 37 properties using fraudulent loan documents and receiving cash back at closing. They say the scheme from December 2005 through March 2007.
http://tinyurl.com/y8lf4mc
@ NoobGoldberg - Notice the home was constructed in 2006. $350k was for the lot.
Notice also that 13 years of 1.2% appreciation on the raw land prior.
Wow! What a nice house! If I were Steve Jobs, I would tear it down.
@picosec
Ahhh, thanks picosec. I obviously did not notice that!
By June 2006 the market for million dollar homes was really slowing. Whoever got this thing sold in June at this price was really fortunate.
Dawg, thought you would dig this. Check out listing price history.
Rancho Las Flores. .. a magical place! (Ya, magical like Fantasyland)
http://www.redfin.com/CA/Ventura/205-N-San-Mateo-Ave-93004/home/4412812
The one weird thing with that house is that the wall around it is pretty low in areas so it is not as private as it looks in the aerial view.
I suppose they had priced it for development if you could extend San Mateo through the property. But I heard that they could not do that for some reason. Otherwise you could fit 8 nice lots there.
w, interesting observation. I hadn't noticed that. Now that I look, San Mateo is the only street that is broken like that that has the same name north and south of that property. Good eye :) That property has gone down from its original listing price by over $17k per day. Must suck for the property owners to realize they are at least $800k poorer than they thought they were at the end of Jan ;-)
You have to admit that as spectator sport Ventura County is hard to beat.
Serin gets trolled. Big time.
Girl named "Holly" comes onto him through Facebook -- gets him to take compromising photos -- girl turns out to be a Hater, probably a CampIdiot poster. Sweet.
Just disturbing. Still stupid after all these years.
What's the deal with "Financial information: Deposit $3"
I'm not sure but I think it means 3% deposit for consideration.
"Still stupid after all these years."
Wasn't that a Paul Simon song? :)
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