Saturday, February 03, 2007

West Coast Home Auctions--More Stats

I just checked our MLS, and it looks like they received offers on all 6 properties today. I won't know the sales price for another 30-45 days, but will do an update to let you know. I did, however, check MLS for recent sales of the same houses that sold today. Here's what I found:

(The first house listed in each set is the West Coast home)

6904 Rio Tejo - $530K
10165 Stathos - $568,475 Sold on 11/28

6908 Rio Tejo - $515K
6937 Rio Tejo - $587,958 Sold on 11/8

6912 Rio Tejo - $495K
6905 Rio Tejo - Active for $538K

6924 Rio Tejo - $490K
6933 Rio Tejo - $500K Sold on 12/19

Didn't see any comparables for the other model (2549 sq ft) which had two models sell today. As you can see, they did undercut all of the recent sales for the previous sales.

8 comments :

Max said...

No word from the Bee yet. :) I wonder if they were banned from the auction too...

Seriously, it looks like they're all under contract. All the West Coast listings are out of the IDX, and they're listed as pending in the MLS.

I guess we'll know in a month how much they went for. Looks like the new comps are between $125 and $175 per sqft.

patient renter said...

Anything under 150 a square foot is a big drop.

Someone on Sacramento Landing posted that at least some of the homes sold for less than the minimum bid. Will it really be a month until MLS shows?

AgentBubble said...

It could be a little less, but not too many escrows close in under 30 days, even in a slow market. They'll do everything they can to close at the end of this month though.

Anonymous said...

Here is local tv coverage of the auction.

http://cbs13.com/video/?id=16928

Low Rider Chevy said...

After watching the news report...man is that existing homeowner pissed who bought his home last year for $200K more. He's got a 2 year ARM and wondering how he's going to refincance. How many more in that community are in his shoes?

Aren't these guys opening a new community nearby? Man O' Chevy, is this going to be great for PR.

Max said...

Thanks, anon. New post, post-haste.

Anonymous said...

Another News Story Discussing SPF's Auction and Rising Foreclosures

Selling below minimum bid can't help the comps in the area.

http://cbs5.com/local/local_story_039211941.html

Shon Bi said...
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