The listing prices of REO properties in the Eastvale area of Corona is continuing to drop. Even as the number of REO properties decrease. Today I found a couple hitting the market at around $90 s/ft. There's a short sale that just listed at $81 s/f (although I don't use short sales as an indication of anything).
7207 Midnight Rose Cir, This home is 4203 sq/ft and has 5 beds and 5 baths. Its the most expensive listing uner $100 s/f to hit the market this week. It's listd at $98 s/f or $410K. This home sold new in Feb 2007 for $688K. They didn't even manage to keep the home 2 years. In fact they barely made a year as they lost this thing way back in March. It took the bank 7 months to get this home on the market! I wonder how many payments they actaully made?
6457 Daffodil Ct is home of 3683 sq/ft and it has 5 bedrooms and 3 baths. This home is listed for $330K or $90 s/f! There is no sales data in Refin for this home so I don't know the history. It would appear that the original owner from 1999 lost this home. That would probably indicate they lost it due to equity withdrawal.
6522 Gold Dust St, This one is 4236 s/f and has 5 bedrooms and 3.5 baths. It hit the market $384k or $91 s/f. This home last sold in August of 2005 for $725k. It went back to the lender in August. They tried to get $405k on the courthouse steps but there were no takers. Think anyone will jump on it at $384k? Yea, me too (assuming it's not thrashed inside).
But if you want to dream big you can go after this Short Sale that listed at $74 s/f. 12782 Thornbury Ln is a big 4038 sq/ft monster with 5 berdrooms and 3.5 baths. The current owners are so far underwater they will need Alvin to rescue them. They bought this home new in Jan 2007 for $669k (probably thought they got a deal too!). Now it's listed as a short sale at $299k! Good luck with that one...... (That's probbly what this home will be worth in 2011 though).