This price was just lowered to $255,000. This is becoming a deep 2004 rollback. Ouch.
Well, me and my friends-we all love to see
Comedy classics on late night TV
Those knuckleheads always get in a scuffle
A push and a shove doin’ the Curly Shuffle
The Curly Shuffle – Jump In The Saddle
Link to Video of Curly Shuffle
Do you remember the Curly Shuffle, the sliding back-step predating the moonwalk? Isn’t that how our housing market works: Two steps forward and one step back?
We had our big rally, our two steps forward. Now it is time for the one step back (or two or three…)
Today’s featured property is another distressed low-end unit: a 2004 rollback.
Asking Price: $265,000
Purchase Price: $273,000
Purchase Date: 7/7/2004
Address: 508 Orange Blossom, Irvine, CA 92618
1st Loan $218,400
Downpayment $54,600
Beds: 1
Baths: 1
Sq. Ft.: 512
$/Sq. Ft.: $518
Lot Size: 512 sq. ft.
Year Built: 1977
Stories: 1
Type: Condominium
View: Water
County: Orange
Neighborhood: Orangetree
MLS#: S497083
Status: Active
On Redfin: 24 days
From Redfin, “Best priced condo in the Lake Condos! Beautiful End Unit with private Wood Deck overlooking Stream!Price includes Washer/Dryer and Refrigerator!Amenities include Assoc. Pool, Spa, Tennis Courts, Clubhouse with Workout Room and Barbecue poolside!Enjoy the absolute Best of OC with nearby shopping, entertainment, World Class Restaurants and Oak Creek Golf Course! The Irvine Spectrum is just minutes away with close access to freeway, hospital and college!Don’t miss out on this investment opportunity!!”
Notice this is being touted as an “investment opportunity.” I guess if flippers are the only ones buying, you need to appeal to them, right?
At over $100 a round, I doubt the resident here will be playing Oak Creek Golf Course very much.
.
.
If this seller gets their asking price, they stand to lose $23,900 on a mid 2004 purchase.
The bottom of the market is being destroyed. What more is there to say? Well, wait until you see tomorrows post…
When me and my friends go out on the town
We can’t sit still. We can’t sit down
We don’t like to fight and we don’t like to scuffle
Dancin’ all night doin’ the Curly Shuffle
Hey, Moe. Hey, Moe.
Well, a nyuk-nyuk-nyuk-nyuk.
La-le-li-li
woo-woo-woo-woo
Well, we never miss a chance
We get up and dance and do the Curly Shuffle