It’s the 4,453sf house in Rancho Carrillo that Wells Fargo foreclosed on when they couldn’t get $1,000,000 at the trustee sale. Optimistic, they listed it for $1,100,000 in October, 2007.
In the first week they received an offer over list, and it closed for $1,175,000 in 12/07.
Back on the market, and just lowered to $998,000.
The new owners listed for $1,175,000 three weeks ago, so they must not have had many showings, if any, for them to drop so much, so quick. But if they think they’re going to incite a bidding war, they need to handle this, seen only in the confidential remarks:
The stucco damage around the outside of the home will be fixed, as will the front door.
Million-dollar buyers considering Rancho Carrillo may be reluctant to offer on what probably looks like a fixer, though this house does have a larger yard – will it be enough?
Hat tip to doughboy for passing this along!