Loading ...Home sales remain sluggish in Rancho Santa Margarita’s Lyon Promenade. Per SoCal MLS there currently two active listings in the Lyon Promenade. One is a short sale, the other a bank-owned property.
7 Calle del Mar (4 Bedroom, 1950 sq. feet) - REO / Lender Owned -Priced at $514,900 (as of 11/7/08)
This property was listed in February, 2006 for $699,000 and sold over the listing price in March, 2006 for $705,000. I wonder if the seller credited the buyer the difference for closing costs. The property is now listed as an REO / Bank Owned property, listed in June, 2008 for $559,900 and currently priced at $514,900. The top sales price for a 4 bedroom in this community was $719,900 in April of 2005. Ouch! That’s roughly a $200,000 value loss. At this price there will likely be a number of offers.
22 Calle del Rio - (5 Bedroom, 2000 square feet) - Short Sale - Priced at $505,000 (as of 11/7/08)
This property was listed in August, 2006 for $739,000 and sold in March, 2007 for $705,000. It was listed again for sale in June, 2008 for $549,000 and eventually reduced to $489,000 before it expired in October, 2008. The property is back on the market at $505,000 and is listed as an “approved” short sale. This home is listed as as 5 bedroom home, but is listed as a model 3, which is the same floor plan as the four bedroom 7 Calle del Mar. I don’t like working with short sales because they make me want to pull my hair out strand by strand test the patience of all parties to no end. However, this might be a nice property for a buyer looking for an additional bedroom.
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