Saturday, February 2, 2008

2616 Victoria Drive Update

Reality is setting in down on Victoria Drive - in over 100 days on the market it has not sold and the asking price has been reduced to just shy of $4,000,000. The price has a long way to go down, however, as this house doesn't compare well to other beach close homes in gated communities that are beach close, with community amenities and parking. This house, while nice, is small and has neither.
Looks like Laguna Beach home prices and Orange County home prices as well continue to slide.


North Carolina Boy said...

Wow that is a lot of scratch for a non-earth shattering home. Am I the only one that thinks coastal OC went on a terrible drinking binge and now that it is morning, there is finally hell to pay?

LuLu G said...

Now listed at 3.8--might be worth about 1.8 except that there's no land--another "stacker" (home stacked up narrowly on tiny lot).
A lot of listings are going off market from Jan. this year or fall of last, now shown as "fresh" again and relisted.

Anonymous said...

Now the agent tells me they turned down an offer for 3.6--a blatant lie.

lb agent said...

As the agent on 2616 Victoria Dr, I am delighted to give you a market update. Yes, we did turn down an offer of 3.6. We are currently under contract for very close to full price. Never under estimate the attraction of Laguna Beach. This market is delightfully unpredictable.

Veracity said...

Hmmm, still active and still for sale.
Too bad you didn't take that "offer" of 3.6.
By offer I presume you mean someone just "thinking out loud" with no money.
And what about the "contract" you claim for July 19?
Really, lb agent, do you think people are still
"buying" (getting risky, marginal loans hoping to flip) those shacks on Victoria for 3 mill?
It was bought for 1.5 in 2004 and that was too much for a bland house with iffy sewers that was remodelled by what looks like the set designer from Al Pacino's "Scarface."
Wake-up, girlfriend!

Anonymous said...

Hi There
Who are you? The listing did sell for all cash 3 mil. I sold the one across the street for 4.875 and the one around the corner for 2.7. All of these properties appraised for selling price or higher! I am starting to think that you may not know this market very well!