Saturday, March 1, 2008

Morgan Hill $106 s/f, 53% off last sale!


They said "it couldn't happen here". We are different!

Well, it just did. Morgan hill at $106 s/f!

44817 Tudal St Temecula, is a huge 4034 sq/ft monster with 4 bedrooms/3.5 baths. This home was a former model home and sold in mid-05 for $896k. It recently became REO'd and they have listed it for $430K. That's $106 sq/ft and 53% drop from the last purchase price. A staggering loss of $466k!


5 comments:

Anonymous said...

X,
This is just a MLS tactic to create an ebay style auction. Call the realtor "flip"(perfect name for a realtard), and put in your offer of 425K and I guarntee the offer will not be accepted. I live in Bear Creek, a house just sold that was listed for over 18 months for 2.6 mill(listed for 2.8) Financed 80-10-10 (coldwell banker)who they are selling the paper too, is anyone's guess, 4 mil+ properties in the hills above us just sold, and come drive down here in the hills above Bear Creek, they are building 6 homes on pads that get a free peep,without having to pay HOA, etc, the parcels are on County land, will be Wildomar in June so the value's on these 1 mill+ deals in Wildomar will be like buying a new car, the minute they open the door it will be worth 25% less, the point is you need to have some coverage here, prices are being based on fraud comps,realtards galore, buses of people (fraud tours)from OC and LA, SD, people acting like 950K mini-ranches in La Cresta/Tenaja are like $1 dollar cheeseburgers at Micky D's.

golfer_X said...

Oh, I'm sure an offer on this would be accepted. There are several properties in the area close in price to this one. 3047 Opus for instance is the same model home, also an REO and it's listed for $114 s/f. There are plenty of others in the area that are cheaper over all but on a price per sq ft they are slightly higher. They'd need to price it at $350k to get before they'd get a bidding war.

These big-assed homes are hard to sell, even at a decent price. At $106 s/f, that's not a bad price. But you have to factor in the upkeep and monthly costs of running a house this size. Not many people are going to be willing to deal with those costs on long term basis. They sold fine to the specuflippers of yesterday but I think they are losing their appeal.

Tyrone said...

Wow, if you buy that place you can become a McMillionaire!

snob from morgan hill said...

The Quote "I noticed in my Morgan Hill's neighborhood, that most of the owners had put substantially large downpayment or pay in cash for the purchase of their homes. They mostly rich retirees or people with high income with a lot of cash savings. They are not to concern about their equity in their houses".....Where are those people now!!! Morgan Hill is a overpriced POS, its not even incorporated area, middle of nowhere, and who the f$%^ want to retired in this freaking place anyway!? It will go down to $85/sqft.

Anonymous said...

Dear,

You just crack me up totally.

You are great.

Thanks.