The Lund Team Real Estate Blog » REO

New Foreclosure Near San Elijo Hills

Brandon Soule — Tue, 15 Jun 2010 16:46:49 +0000

The Lund Team received this property to sell approximately two weeks ago and is not in the process of listing the property for sale. The home is not yet listed in the MLS.

Large single family home on the border of Carlsbad and Sal Elijo Hills in the newer development Old Creek Ranch. Nicely upgraded residence: granite counters, dark wood cabinetry, wood and tile flooring, tile bathroom counters, custom stair railing and recessed lighting. Rear yard is large with a built in fire pit.

5 Bedroom, 3 Bath, and Approx. 3,152 Sq. Ft.

For more information contact The Lund Team

Call: (760) 438-0800 or Email: REO@LundTeam.com

Detached Single Family In Escondido

Brandon Soule — Tue, 06 Apr 2010 21:54:32 +0000

Spacious detached residence located in the Kent Ranch neighborhood at the north end of Escondido. Below ground pool and spa, hardwood flooring, upgraded kitchen with white tile counters and dark stained cabinetry, panoramic north facing views of mountains and canyon. Large master suite and bath with fireplace, dual sinks, soak tub, and private view deck.

1314 Ward Place Escondido, CA 92026

5 Bedroom, 4 Bath, and approx. 3,309 square feet

For pricing and more information contact The Lund Team:

REO@lundteam.com or call (760) 438-0800

New Foreclosure in Encinitas Ranch

Brandon Soule — Wed, 31 Mar 2010 18:51:47 +0000

The Lund Team will be listing a new foreclosure home in Encinitas Ranch, a renowned beach community in Encinitas, California. The property is located on the fairway of the 4th hole at Encinitas Ranch Golf Course and offers panoramic west facing views of the golf course and Pacific ocean. The neighborhood offers multiple community parks, extensive golf course walking trails and discounted green fees. Home site in close proximity to the Forum shopping center, San Diego Botanical Garden, beaches, and so much more.

5 Bedrooms + 2 Optional, 3.5 Bath, and approx. 4,612 Square Feet

Large spacious executive style residence, custom marble flooring in the foyer, downstairs office, dining room with designer chandelier, dual staircase off entry and family room, bonus room with view balcony. Oversized gourmet kitchen: granite counters, stainless steel GE Monogram appliances, two sinks, dual ovens, and eat in bar. The large family room offers a built in entertainment center and custom stone fireplace and mantle. Master suite: separate retreat/study area, private balcony with ocean and golf course views. Master bath: Jacuzzi tub, marble enclosed shower, bronze fixtures, walk-in-closet and dual vanities. The inviting rear yard has mature landscape, covered patio, outdoor kitchen, and built in spa.

For pricing and more information contact The Lund Team:

REO@lundteam.com or call (760) 438-0800

Half Price in Rancho Santa Fe

Brandon Soule — Fri, 26 Mar 2010 02:05:50 +0000

The Lund Team has received two new bank owned properties to sell in an exclusive community, The Crosby at Rancho Santa Fe.

About the community: Private gated community, separate residence club house, junior sized Olympic pool, spa, and four tennis courts. From golf villas to turnkey custom homes, luxury and elegance carry the day at The Crosby. Inspired by the legendary Rancho Santa Fe architecture of Lillian Rice, residential designs at The Crosby embrace the casual elegance so long associated with the region.

17028 Blue Shadows Lane

2 Bedroom + 1 Optional Room, 3.5 Bath, and approx. 3,034 Sq. Ft.

Home site on golf course, Mediterranean / Santa Barbara style architecture, large rear yard, landscaped front and rear, spa, and interior courtyard.

16908 Simple Melody Lane

4 Bedroom, 4 Bath, and approx. 3,121 Sq. Ft.

Detached villa, former model home, travertine and wood flooring , gourmet kitchen with upgraded appliances, executive style master suite, panoramic views, and much more.

Contact the Lund Team for more information and pricing

REO@lundteam.com or call (760) 438-0800

The Luxuary Foreclosure Market

Brandon Soule — Fri, 08 Jan 2010 00:59:28 +0000

Most often bank-owned properties being sold are thought to be all rundown homes in the less desirable areas of the county listed at prices usually no more than a few hundred thousand dollars and often even under $100k. Buyers look for and want to buy bank-owned properties because they think they will get amazing deals and a lot of the time buyers do get the good deals they are looking for. Sometimes these buyers can save anywhere from fifteen to forty percent off previous sale prices occurring during the height of the market in 2004 and 2005. However, there is a large unrecognized market with limited availability where buyers can still make the same 20% savings, but applied to a much larger amount. Borrowers who own large homes close to and well over the $1,000,000 mark are defaulting on their loans, leading banks to list the property as Real Estate Owned (REO’s). As of today January 7, 2010, in the County of San Diego, there are 8,442 homes listed for sale with only 779 as REO’s, 9.2% of the total market. Out of every listed REO in San Diego, 88% of the inventory is listed below $500,000 and 97% under $1,000,000.

The remaining 3% of the bank owned inventory goes to high-end homes in the most desirable areas of the county such as La Jolla and Rancho Santa Fe. The highest priced REO home at 18117 Aliso Canyon is located in Rancho Santa Fe and listed for $5,495,000. One property at 18787 Heritage Drive in Poway is currently on the market for $2,595,000. This same home was sold less than one year ago on 7/2/09 for $3,400,000, equaling a total savings of $805,000 or 23.7% from the July purchase price. In the Bay Collection (community in the Aviara area) of Carlsbad two properties have recently closed near the 1,000,000 mark. 7089 Marsh Wren Street (5 bedroom, 4.5 baths, 3484 square foot home) sold for $1,551,000 in 2005. The next time this property was sold on 6/26/09 as a bank owned foreclosure the price would be $976,000, a 37% savings. Also, in the Aviara area, 1372 Corvidae Street sold for $785,000, other like properties listed as regular sales are priced at $1,029,000 and $1,150,000. Buyers purchasing bank-owned properties can get amazing deals and it needs not to be forgotten that these same deals are also widely available in the luxury home market.