The foreclosure activity around Carmel Valley, Del Mar, and Solana Beach has been sluggish, to say the least. The numbers of SFRs on the auction lists are low, and they’re filled with loan modders and current short sellers. With only a handful getting foreclosed each month, the overall inventory of attractively-priced quality homes is discouraging.
Here’s a brief youtube tour – the first house is scheduled for trustee sale on April 23, with an opening bid of $1,327,500, and the other one on the same street had an opening bid of $1,257,031. The other four bank-owned homes had opening bids of $967,816 (on Winstanley), $835,000, $610,000 (on Barbara), and $1,900,000:
There are 10,387 properties on the SD County auction list, but only 193 have hit the court house steps here in the first week of February. Postponements of trustee sales are the norm, but if a few of these in this video hit the court house steps, their pricing, and bidder-interest, should be very interesting.
The third house in the video was offered on the court house steps for $471,337, but no takers, so back-to-bene. They listed it for $563,000, and it closed for $601,000:
Let’s take a look at a possible trustee sale coming up in Carlsbad.
The property is right on Tamarack – the house is a 1,080sf tear-down on a 30,492 sf lot, which is roughly 117 ft wide, by 275 ft. deep.
First determine what is the highest-and-best use. Look at the neighbor across the tracks in the photo; would it be best to follow his lead and build the family compound here?
Or complete the former owner’s vision, and build out his approved plans calling for 13 condos?
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