Tuesday, April 28, 2009

Eye On Monterey Village

The beat goes on at Monterey Village, and it looks like the new owners are making some sales. They also seem to be playing games with the listings there, since many of the houses were delisted (and not renewed) after the 90 day clock expired, while others have been "sale pending" for over 30 days. It does look like the last asking prices were a bit high for the area. 95757 is averaging $120/sqft right now, which makes the $151/sqft for 5205 Ocean quite a premium to live in a half-built development! Of course, we won't know what the buyer really paid until the sale gets recorded.


5121 Ocean Ln
Elk Grove, CA 95757
Total Loss: $6,000Percent Loss: 2.5%
Asking Price: $234,000
Bedrooms:3    Baths: 2    Sq. feet:1825
Last Listing Date: 2009-04-25
True days on market: 60
# of Times Listed: 1

Previous Sales:
Sold on 2007-07-30 for $400,000
Sold on 2009-02-23 for $240,000
Likely REO   Status: Active

MLS# 90016946      Google Maps
Property Tax Bill



5112 Ocean Ln
Elk Grove, CA 95757
Total Loss: $109,483Percent Loss: 32.3%
Asking Price: $229,900
Bedrooms:3    Baths: 2    Sq. feet:1825
Last Listing Date: 2009-04-25

Listing History:
Down 4.5% from $240,760 On 2009-03-14

True days on market: 46
# of Times Listed: 1

Previous Sales:
Sold on 2007-05-30 for $407,000
Sold on 2009-03-03 for $339,383
Likely REO   Status: Active

MLS# 90019296      Google Maps
Property Tax Bill



4912 Ocean Ln
Elk Grove, CA 95757
Total Loss: $180,500Percent Loss: 50.8%
Asking Price: $175,000
Bedrooms:3    Baths: 2    Sq. feet:1638
Last Listing Date: 2009-04-25

Listing History:
Down 22.5% from $225,900 On 2009-01-10
Down 7.4% from $189,000 On 2009-01-17

True days on market: 109
# of Times Listed: 1

Previous Sales:
Sold on 2007-05-30 for $355,500
Status: Short Sale Contingent

MLS# 90001584      Google Maps
Property Tax Bill



5200 Ocean Ln
Elk Grove, CA 95757
Asking Price: $275,000
Bedrooms:4    Baths: 2    Sq. feet:2119
Last Listing Date: 2009-04-04

Listing History:
Down 19.6% from $342,000 On 2009-01-24
Down 8.0% from $299,000 On 2009-02-07

True days on market: 95
# of Times Listed: 1

Status: Delisted

MLS# 90006558      Google Maps
Property Tax Bill



5204 Ocean Ln
Elk Grove, CA 95757
Asking Price: $249,000
Bedrooms:3    Baths: 2    Sq. feet:1825
Last Listing Date: 2009-04-04

Listing History:
Down 21.0% from $315,000 On 2009-01-24
Down 5.7% from $264,000 On 2009-02-07

True days on market: 95
# of Times Listed: 1

Status: Delisted

MLS# 90006564      Google Maps
Property Tax Bill



5020 Ocean Ln
Elk Grove, CA 95757
Asking Price: $215,000
Bedrooms:3    Baths: 2    Sq. feet:1711
Last Listing Date: 2009-04-04

Listing History:
Down 21.0% from $272,000 On 2009-01-24
Down 13.0% from $247,000 On 2009-02-07

True days on market: 95
# of Times Listed: 1

Status: Delisted

MLS# 90006569      Google Maps
Property Tax Bill



4926 Ocean
Elk Grove, CA 95757
Asking Price: $199,900
Bedrooms:4    Baths: 2    Sq. feet:1711
Last Listing Date: 2009-04-25

Listing History:
Down 12.3% from $227,900 On 2008-12-27
Down 4.8% from $209,900 On 2009-02-07

True days on market: 123
# of Times Listed: 1

Previous Sales:
Sold on 2007-04-30 for $340,500
Sold on 2008-12-15 for $284,061
Status: Pending Sale

MLS# 80123534      Google Maps
Property Tax Bill



5205 Ocean Ln
Elk Grove, CA 95757
Asking Price: $215,000
Bedrooms:3    Baths: 2    Sq. feet:1425
Last Listing Date: 2009-03-21
True days on market: 39
# of Times Listed: 1


Status: Pending Sale

MLS# 90021350      Google Maps
Property Tax Bill



5016 Ocean Ln
Elk Grove, CA 95757
Asking Price: $169,000
Bedrooms:2    Baths: 2    Sq. feet:1001
Last Listing Date: 2009-03-21
True days on market: 46
# of Times Listed: 1


Status: Pending Sale

MLS# 90021321      Google Maps
Property Tax Bill

2 comments :

Anonymous said...

You and your pesky details about how the average is $120/sqft, which shows the listed $150/sqft to be too high... Why not just say how its cost per sqft is 25% less than $200/sqft a couple of years ago? Isn't that a better way to spin it? After all, in the new paradigm we live in, we no longer have "toxic" assets but "legacy assets"... See the difference? That is so much more positive!!! :o)

Anonymous said...

Oh please. If you had your choice, would you live in a single level home? They do cost more per foot to build.

The least expensive homes to build there are the "clusters" on Ocean, 4-7 homes once called "pull-a-part" homes, like detached condos, with postage stamp lots -lower land cost per home, #2 are the 2 story homes, with more effecient use of foundation and roofing costs, most expensive is single level. The prices reflect both the costs and typically the demand.

Had coffee with another old school buddy talking about what we used to do.... analyze stuff using standard economic theories, etc. like Average Buyer. Watching the past few years, especially the past few months, consumer sentiment will be weighted more heavily in newer economic thoughts.... ie government tampering and indecision on the buying psych.

argh!

Sippn