Like other areas, Carlsbad, Encinitas, Cardiff and other coastal communities have their own share of distress sales - short sales, foreclosures, and REOs (bank owned properties). The short sales in particular seem the most challenging, the more time consuming AND the least likely to close.
On the other hand there are a good number of REOs out there at terrific prices (some prices remind us of 2005 - can you imagine?!) and since you negotiating with the bank owner directly, there is generally a faster response time, and a quicker close.
Mind you, there are some things to keep in mind. So before I share my thoughts on some great REO real estate buys in Carlsbad, Encinitas and Cardiff, let's talk business:
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- The bank is looking to get close to market value, so a low ball offer won't cut it. There will be one of more BPOs (Broker Price Opinions) done to determine market value
READ MORE: Buying a Short Sale
Carlsbad Short Sale Buyers - Get Out Your Checklist
So let's chat now about some great deals in the Carlsbad real estate market and nearby:
- A 1472 SF detached home with 4 bedrooms and 2.5 baths in East Carlsbad with new paint and new carpet for $375,000
- A gorgeous home built in 2005 in the La Costa area in a well-known subdivision with 4 bedrooms and 4.5 baths, 4913 SF, priced at $999,900. That is an unheard of price/SF price in Carlsbad
- A beautiful home in a master planned community with 5 bedrooms, 4.5 baths, 4040 SF, priced at $899,900
An attached single story home with 3 bedrooms, 2 baths and 1014 SF for $289,900 in the Encinitas school district. Killer!
CARDIFF (a.k.a. Cardiff-by-the-Sea)
- A 3 bedroom 2.5 bath home just 3 blocks to the ocean (yep, short walk) with 1883 SF of living space for only $895,000 (for property WEST of the 5 freeway this is a terrific opportunity)
- A 3 bedroom 2 bath detached home with 1013 SF of living space (east of the 5, which reflects the pricing) for only $539,900.
You already know from all your research that REOs and other distress sales MAY NOT be right for you because of the issues raised above, but some can represent terrific deals provided you understand what you are buying and are willing to do any fix-up work if needed
If you want more information on these homes, or perhaps a complete list of REOS (or short sales, foreclosures and "normal" resales) in your price range and communities that interest you, just let me know. Or search the area yourself using the link below.
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If I can provide more information about Carlsbad and surrounding areas, or the housing market in general, or otherwise assist you in your homes search, please contact me by phone or text at (760) 840-1360 or email me at JDowler@remax.net.
All content copyright © 2008 Jeff Dowler Carlsbad Homes and Real Estate Tidbits
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If I can provide more information about Carlsbad homes and real estate for sale and surrounding areas, the housing market in general (or locally), or otherwise assist you, friends or family in a home search or sale, please contact my mobile office or text me at (760) 840-1360 or email me at JeffDowlerSolutions@gmail.com
Serving Carlsbad (including Aviara, La Costa & Carlsbad Village), Encinitas (including Leucadia & Olivenhain), Cardiff, Solana Beach, Del Mar, La Jolla, Rancho Santa Fe, San Marcos (including San Elijo Hills), Oceanside, Carmel Valley, Escondido, and San Diego
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