The REO tsunami dripped another drop today, I was assigned this property whose trustee sale was just last Thursday, November 12th. 

The former owner was from Newbury Park, which, according to wiki, has the highest median prices in Ventura County, and among the most affluent areas in the country.  It is typical for these types of folks to come to Oceanside, thinking they are going make a killing on beach real estate.

This is a unique property, so let’s have a contest!

Guess the eventual sales price!

On the tax rolls it’s 3 br/2 ba, 1,300sf on a 1,500sf lot.  There aren’t any great comps, and no appraisals or BPOs have been completed, so I don’t know what the list price will be.  But the opening bid at the trustee sale last week was $513,000 with no takers.

The vacant lot in the video below had listed for $499,000 but had to get down to $275,000 before going pending (sellers paid $399,000 in 2004), and the new condos featured in a previous video have all closed between $405,000 and $781,000, so it appears there is still an appetite for beach real estate in Oceanside!

You can see photos at this link, where they are asking $1,900 per week in winter, and $2,000 per week for summer rentals:

The person with the closest guess to the sales price will win a T-shirt!

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