Tuesday, April 8, 2008

$100 s/f in So Corona


25073 Pacific Crest St in South Corona is the first legit $100 s/f listing I've seen in So. Corona. There have been a few short sales listed for $100 s/f but this is the first REO listing at this price I've run across.

The house is 3200 s/f and it is a 3 bedroom, 2.5 bath home. It's sitting on a smallish lot of just under 5700 s/f. It looks like the home was purchased new in March 2006 for $605k. It's listed as and REO property for $320k. That's a loss of $285k or 47% in 2 years (less fees).

Most people look at the price and home and are less concerned about price per sq/ft. Us blogheads use the number because it's another way to gauge the decline other than the overused median price. Because most people/buyers are less concerned about the $ s/f they may not think this home is such a good deal. There are currently 14 homes priced under $350k in that tract so this home actually does have competition in it's price range.



Ok, now for some comic relief! Just up the road from the $100 s/f house there is a MOBILE HOME for sale (well technically it's a manufactured home...same thing). 10304 Dusty Lane is a 1440 s/ft 3 bedroom 20 year old "trailer". Yours for $285k! Yup only $35K less than a 2 year old 3200 s/f house. That's a seller with a sense of humor! Actually there are a few of them in that trailer park.

7 comments:

Santa Ana River Rat said...

ROFL! Love the trailer! Must be made of gold bricks.

golfer_X said...

That's a picture of Vicky from Little Britain, I liked that show....

ButterMonkey said...

3200 sq. ft. and only 3 bedrooms? What the hell did they do with all of that space?

InlandEmpireX said...

Any good area in Corona that doesn't have the "cow poop smell"?

golfer_X said...

Only the north area of Corona (Eastvale) has the parfume' du farm. Occasionally you can smell it in the area around the Mckinley shopping center but that's rare.
Nothing south of the 91 smells of dung.

Santa Ana River Rat said...

actually that's not true. There's plenty of places in south corona that smells like it's full of caca, if you look at the price of home some of these people are trying to unload.

nmoerbeek said...

I wouldn't mind living in a manufactured home. At least they own the land that it is kept on.