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Sean Murphy

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Can I buy a bank home?

09-16-08
Sean Murphy

I had a client ask yesterday if there was anything in San Clemente as far as the Bank and Lender owned property goes. I answered that there are currently 26 properties owned by banks or lenders on the active market. I could hear the excitement in his voice. You can almost hear the cash register ring at the thought of stealing a property from the bank. I had a couple of words of advice for him:

1. The bank knows exactly what the property is worth. The have a real estate broker continuously update the asset manager of any market fluctuations. The bank "is" pricing these homes below the average market price, but not 50% below.

2. Good bank owned property usually has a couple of reasonable offers submitted in the first week. If it is a great buy then I know about it and so do many other good real estate brokers.

3. You can probably find a better deal on the house that has been sitting on the market for a bit, say 30 or 60 days. A property that has been on for a very long time may be the victim of bad pricing, and the bank will adjust the price every 30 days or so until they get it right.

4. If you are looking to buy a bank property then you better have x-ray vision, because you are going to have to look past a lot of dirt and damage. You would be amazed at how many people can't imagine a place after it has been painted and new flooring installed.

5. Get you financing in place, and you contracts ready, because the offer process on a bank owned home is as fast as the asset manager wants it to bee, and it is often not like regular real estate purchases. There are no counter offers or negotiating repairs. No home warranty from the seller, or concessions for a late closing escrow.

If you are prepared to deal with these issues and more, then you need to give me a call, and I will take you to some real bargains. Bring a flashlight and some gloves. See you soon.

Trash around a bank owned property

Sincerely,

Sean Patrick Murphy, Broker

Blue Tide Realty

(949) 677-6315

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Ocean Hills Update

09-03-08
Sean Murphy

Ocean hills currently has 8 homes on the market. The average price of listed homes is $536,100, and the average price per square foot is $398,59. These averages are for view and non-view homes together. The sale prices for ocean view homes in Ocean Hills has been traditionally higher by anywhere from 5-20%.

2

S541851

SFR

716 Calle Casita

3

3/2

1,517

1972

$419,900

37

3

S528383

SFR

3809 Calle LaQuinta

3

3/2

1,288

1975

$549,900

147

4

S543936

CONDO

881Calle Pluma

2

3/2

1,347

1975

$550,000

21

5

S532829

CONDO

856 Calle Pluma

2

2/1

1,315

1975

$555,000

110

6

S540244

SFR

3738 Calle Casino

3

3/2

1,524

1976

$579,000

50

7

S526408

SFR

804 Calle Pluma

2

3/2

1,347

1975

$650,000

163

8

S535660

CONDO

714 Calle Cetro

3

3/2

1,277

1975

$650,000

86

Time on market is increasing allowing potential buyers to take advantage of quickly disappearing summer sale season.

If you would like information on these or any other homes in Southern California, please contact Sean@BlueTideRealty.com. The Ocean Hills expert.

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Marblehead update

09-03-08
Sean Murphy

Here is the latest update on active property in the Marblehead area of San Clemente. There are 32 active properties between all of the communities of Marblehead. The average price for all homes currently listed in Marblehead is $847,403.00, and the average price per square foot is $416.01. These prices reflect view and non-view homes together.

S518168

SFR

D

2230 Calle Opalo

SIG /1

3

2/2

1

2

1,714

1992

$1,079,900

232

S519436

SFR

D

2201 Via Gavilan

HLE /A

3

3/2

1

2

1,903

1985

$849,000

222

S522272

CONDO

D

2406 C. Bucanero

NP /C

3

3/2

2

2

1,417

1986

$679,500

197

S526405

CONDO

D

2148 Cam.Laurel

HLV /0

3

3/2

2

2

1,830

1987

$675,000

96

S527742

CONDO

D

2415 Ave.Mastil

NP /B

3

3/2

2

2

1,400

1986

$699,900

152

S528015

CONDO

A

2057 Via Concha

FH /1

2

2/1

1

2

985

1981

$409,000

149

S529506

SFR

D

2215 Via Gavilan

HLE /*

5

3/3

2

3

2,683

1985

$1,275,000

137

S530258

SFR

D

2624 Calle Onice

CRES/C

5

4/3

2

3

3,700

1997

$1,175,000

131

S530368

CONDO

A

2175 Ola Verde

FH /D

3

3/2

2

2

1,605

1984

$490,000

130

S531469

SFR

D

2211 Via Gavilan

HLE /A

3

3/3

1

2

2,215

1985

$935,000

120

S532225

CONDO

D

2156 Via Teca

HLV /1

3

2/2

1

2

1,500

1986

$699,000

114

U8002429

CONDO

A

2181 Ola Verde

FH /0

2

2/1

2

2

1,208

1981

$389,900

98

S535178

CONDO

A

2007 Via Concha

FH /1

2

2/1

1

2

984

1983

$408,000

91

S536581

SFR

D

2408 Via Mero

SIG /C

4

3/2

2

3

2,500

1995

$1,099,900

79

S536909

CONDO

D

2314 Marejada

NP /3

3

3/2

2

2

1,657

1984

$599,900

77

S538396

CONDO

D

2111 Via Teca

HLV /*

3

2/2

2

2

1,900

1986

$699,000

65

S539927

SFR

D

2309 Via Zafiro

SIG /5

4

3/3

2

3

2,749

1993

$1,249,000

53

S540756

CONDO

D

2442 Corso Rio

NP /5

3

3/2

2

2

1,421

1987

$649,000

47

S542602

CONDO

D

2160 Via Aguila

HLV /C

3

3/2

2

2

1,900

1989

$729,900

32

S543671

SFR

D

2602 Calle Onice

CRE/C

4

4/3

2

3

2,929

1998

$1,138,888

23

S545694

SFR

D

2604 Calle Onice

CRES/3

5

4/3

2

3

3,900

1998

$1,598,000

6

S543988

SFR

D

2113 Ave.Oliva

HLE /5

4

3/3

2

3

2,652

1985

$1,129,000

21

M109949

SFR

D

2422 Via Mero

OTHR /'

3

2/2

1

2

1,785

1984

$850,000

16

S544865

CONDO

A

2107 Ola Verde

FH /A

2

1/1

1

2

989

1983

$379,900

14

S545746

CONDO

D

2407 Corso Rio

NP /0

4

3/3

2

2

1,700

1986

$599,900

6

If you would like an in-depth analysis of your property, please email me at Sean@BlueTideRealty.com.

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Roll back the clock on prices!

08-28-08
Sean Murphy

Today...a two bedroom, two bath 1145 square foot home in Ocean Hills, San Clemente, reduced their price to $335,000. These are prices not seen in Ocean Hills since 2002. In 2002 interest rates were above 8% for most buyers. You would pay less for the property today than 2003. At $335,000, with a reasonable down payment, this could work out to be a cash positive income property, or a great deal on a second home. there are several great deals in Ocean Hills. For more information contact Sean Patrick Murphy at Blue Tide Realty.

Sunset from Ocean Hills

Sunset over Catalina as seen from Calle Casino in Ocean Hills, San Clemente, California.

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Marblehead Real Estate Update

08-27-08
Sean Murphy

This is the latest update for the communities of Marblehead. With 31 great priced homes on the market, the ocean views are waiting for the buyers. These properties combined with still low interest rates make these a bargain. Some of these properties have not been this low since 2002-2004.

Address

Trct/M

Bd

B t/f

Sty

Gar

SqFt

Yr Blt

Price

DOM

2117 Avenida Espada

FH/B

3

2/1

1

2

1,302

1981

$559,900

394

2117 Avenida Oliva

HLE/Z

3

3/2

2

3 A

2,455

1985

$1,195,000

261

2223 Avenida Oliva

HLE/C

4

3/3

2

3 A

3,100

1984

$1,296,420

229

2230 Calle Opalo

SIG/1

3

2/2

1

2

1,714

1992

$1,079,900

225

2201 Via Gavilan

HLE/A

3

3/2

1

2

1,903

1985

$849,000

215

2406 Cam. Bucanero

NP/C

3

3/2

2

2 A

1,417

1986

$679,500

190

609 Via Golondrina

HLV/C

3

3/2

2

2 A

1,887

1989

$849,000

189

2148 Camino Laurel

HLV/0

3

3/2

2

2

1,830

1987

$675,000

89

2415 Avenida Mastil

NP/B

3

3/2

2

2

1,400

1986

$699,900

145

2057 Via Concha

FH/1

2

2/1

1

2 D

985

1981

$409,000

142

2215 Via Gavilan

HLE/*

5

3/3

2

3

2,683

1985

$1,275,000

130

2004 Corte Cardelina

SUM/2

4

3/3

2

3 A

3,054

1992

$975,000

128

2624 Calle Onice

CRES/C

5

4/3

2

3 A

3,700

1997

$1,175,000

124

2175 Calle Ola Verde

FH/D

3

3/2

2

2 D

1,605

1984

$490,000

123

2211 Via Gavilan

HLE/A

3

3/3

1

2

2,215

1985

$935,000

113

2156 Via Teca

HLV/1

3

2/2

1

2 A

1,500

1986

$649,900

107

2328 Via Chalupa

NP/5

3

3/2

2

2 A

1,344

1985

$680,000

99

2181 Calle Ola Verde

FH/0

2

2/1

2

2

1,208

1981

$389,900

91

2446 Cal. Aquamarina

HLE/z

3

3/2

2

3

2,800

1996

$1,075,000

89

2007 Via Concha

FH/1

2

2/1

1

2 D

984

1983

$408,000

84

2408 Via Mero

SIG/C

4

3/2

2

3

2,500

1995

$1,099,900

72

2314 Ave. Marejada

NP/3

3

3/2

2

2 A

1,657

1984

$599,900

70

2111 Via Teca

HLV/*

3

2/2

2

2 A

1,900

1986

$699,000

58

2309 Via Zafiro

SIG/5

4

3/3

2

3

2,749

1993

$1,249,000

46

2442 Cam. Corso Rio

NP/5

3

3/2

2

2

1,421

1987

$649,000

40

2160 Via Aguila

HLV/C

3

3/2

2

2 A

1,900

1989

$729,900

25

2602 Calle Onice

CRES/C

4

4/3

2

3 A

2,929

1998

$1,138,888

16

2113 Avenida Oliva

HLE/5

4

3/3

2

3

2,652

1985

$1,129,000

14

2422 Via Mero

OTHR/'

3

2/2

1

2

1,785

1984

$850,000

9

2466 Cal. Aquamarina

CREST

4

4/3

1

3 A

3,400

1998

$1,350,000

8

2107 Calle Ola Verde

FH/A

2

1/1

1

2 D

989

1983

$379,900

7

If you would like information on these properties, or any Southern California property email Sean@BlueTideRealty.com, or call (949) 677-6315.

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