Escondido, CA market in freefall, many many examples of 40%+ price drops

Escondido is has a population of 133,000, making it the 4th largest city in San Diego County and 178th largest city in the USA. As you can see from the examples below, price drops of 40% or more are getting very common. And remember these aren’t even 40%+ drops from the absolute peak of the bubble, but from sales in 2004. So these losses may be excluding 2nd mortgages written off due to short sales or banks deciding to eat losses rather than pursue deficiency judgments.

Pepperwood Unit #10x
Sold 6/04 $240K
Bank owned foreclosure for sale now at $125K
-$115,100 (-48%) loss
 
Pepperwood Condos Unit #9x
Sold 5/04 $225K
Resold 1/08 $126K
-$119,000 (-44%) loss
 
Pepperwood Condos Unit #3x
Sold 9/05 $245K
For sale @ $118K
-$127,000 (-52%) loss
 
2566 White Oak Place #x
Sold 9/06 $309K
Bank owned foreclosure for sale now at $150K
-$159,100 (-51%) loss
 
31xx Sycamore Crest Place
Sold 2/05 $735K
Bank has approved short sale $450K
-$285,000 (-39%) loss
 
2012 E. Mission Ave #xx
Sold 6/05 $231K
For sale @ $120K
-$110,700 (-48%) loss
 
16xx Hawk Ridge Pl (5 bed 2.5 bath 2820 SF on cul-de-sac!)
Sold 8/06 $588K
For sale @ $320K
-$268,000 (-46%) loss
 
475 N Midway #2xx
Sold 5/04 $225K
Bank owned foreclosure for sale now at $125K
-$100,000 (-44%) loss
 
Sun Mountain Springs Condos – 520 Sandalwood #1x
Sold 10/05 $318K
Bank owned foreclosure for sale now at $175K
-$142,500 (-45%) loss
 
7xx Goldenrod St. (3 bed 2 bath single family with big yard)
Sold 9/06 $488K
For sale @ $220
-$267,000 (-55%) loss
 
24xx Hawthorn Glenn
Sold 8/06 $365K
Bank owned foreclosure for sale now at $200K
-$165,100 (-45%) loss
 
2912 E Valley Parkway #x
Sold 5/05 $355K
For sale @ $180
-$175,000 (-49%) loss
 
1xx Foxdale Place (2/1 bungalow with small garage)
Sold 5/05 $331K
Bank owned foreclosure for sale now at $180K
-$151,100 (-46%) loss
 
915 N Fig St #x
Sold 9/06 $275K
For sale @ $120K
-$155,000 (-56%) loss
 
1xx Espanas Glenn
Sold 10/05 $320K
Bank owned foreclosure for sale at $149K
-$171,500 (-54%) loss
 
1405 N Broadway #x
Sold 6/06 $386K
For sale at $195K
-$191,000 (-49%) loss
 
8xx Daisy St
Sold 1/06 $480K
Resold 1/08 $283K
-$197,000 (-41%) loss
 
10xx Nightingale Place
Sold 8/04 $560K
Resold 12/07 $322K
-$238,000 (-43%) loss
 
280xx Glenmeade Way
Sold 2/07 880K
Listed for sale 12/07 by foreclosing bank @ 570K
-$310,000 (-35%) loss (bank lost 300K+ on this loan in less than 10 months! Likely a first payment default)
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5 responses to “Escondido, CA market in freefall, many many examples of 40%+ price drops

  1. Gack!

    You’re right. That’s fugly.

    Cheers,

  2. I always find your comments to CR wise, insightful and intersting. This is a nice little observational survey. Thanks. Just out of curiosity, a long time ago I indirectly knew a Greg Weston. Does the name Zissu mean anything to you? it may not be a good memory and for that I appologize.

  3. Thanks for your info, but which website we can find such listings? I have checked some popular websites but can’t find such listing. Thanks for help.

  4. LawyerL: No, I don’t know anyone named Zissu.

    John: My source was a great website called SDLookup.com. It only covers San Diego County.

    You can find free closed sales listings for the whole country on zillow.com. I like SDLookup’s interface much better, I wish other parts of the country had similar sites. Zillow is more cumbersome to navigate.

  5. Scary.. so, who makes money in these cases? The bank?

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