Normally when showing ranch property, I only have to worry about dogs taking a whiz on my truck tires. Looks like now I have to worry about peacocks too! There is a small flock of wild peacocks in the valley and no, I'm not going to say where they are. They are wild and very alive right now and want to stay that way. This one and his two buddies were very interested in my vehicle …… looking for bugs so I think they left my tires alone. :)
Back on the Market
195 Main St., Los Alamos (3/3 on .28 of an acre) 445K Was in escrow, fell out. Compared to the valley proper, this is a lot of house for the money. Easily 100K or more in the SYV. Drive a little, save a lot!
Price Reduction
2900 Highway 135, Los Alamos (6/7 on 99 acres) Was $6,300,000 with a new price of $4,995,000. Yep. You are seeing that correctly. Over a million dollar price drop. On the market since 2008, this property needs a buyer who appreciates and understands the history behind this 1829 built original adobe home. This is the real McCoy. Normal sale.
In Escrow
227 Menlo, Buellton (3/2 on .17 of an acre) $364,900 Ok, my bad. I thought this was an REO but actually, it was an REO, then was purchased direct from the bank by an investor in April for $252,500. Now we see it on the market as a flip at $364,900 (which is undervalued in my opinion). How does a person or entity become one of those lucky ones able to purchase direct from a bank for so low and then turn around and flip it? I actually don't know …… but I agree with you. Doesn't seem right does it? Then again, I have to ask myself, why would the bank/investor who foreclosed originally dump the property to another investor for $252,500 when its actual value is 400K? Why wouldn't they want to make all the profit themselves? Nobody appears to be steering this boat. I'm glad we are nearing the end of this cycle. I'm not sure how much longer I can stand the insanity of it all.
In Escrow
645 Floral, Solvang (2/2 condo) $279,900 Well of course it went pending! It was the best condo buy in the valley. Actually, it's almost the only condo buy in the valley. With the exception of the Maple unit, we have no condos for sale right now. But here's the kicker. I thought this was an REO too ….. drum roll please ….. you got it. Same investor. Was an REO but purchased direct from the foreclosing bank in April for $196,500. Now being flipped for $279,900. See my rant above. Enough said on that.
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Realtor
President SYV Association of Realtors 2013
DRE #01357602
Prudential CA Realty
P.O. Box 778
Los Olivos CA 93441
805.233.6461 efax
805.448.2727 direct
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