Thursday, November 6, 2008

2616 Victoria Drive "Sells" ??


2616 Victoria Drive has been documented on Blue Move for a while now. A really small house with a good view and beach close, this home started out almost a year ago at an astounding listing price of about $4,300,000. After about a year on the market and repeated price reductions, the home shows as "sold" for $3,000,000. This at a time when at least one other redone home on the same street is listed for $500,000 less? Does someone smell something fishy here? This does not fit with the clear trend in Laguna Beach home prices. Hmmmm.

I researched the "buyer" of 2616 Victoria. It is a living trust located in Las Vegas. Let's look at the seller - a living trust located .....where else....but....Las Vegas, Nevada. Was this just a transaction by the seller between two trusts to effectively end up with a refinance? Let's watch this one now and see if it goes repo!!!

4 comments:

Ms. Beach-a-go-go said...

Hi Mr. Blue,

Where exactly is Victoria Drive? Is it in South Laguna? I'm still getting oriented to the area after only two months living here.

Mr. Blue said...

Victoria Drive is very close to the Nyes/PCH intersection just north of the montage. Great beach, but the homes here have only limited parking for guests. Also the bus ride to the public schools is long, if you have kids.

Richard said...

You have to be real careful with PCH traffic as well and you are locked into Laguna during the traffic months during the Festivals and the Summer.

Anonymous said...

This was obviously a trust transfer, not a "sale" in the real sense.
Victoria is an extremely crowded area of south Laguna with houses like condos stacked up and often, although you are close to the beach, have limited views of rooftops or a little blue ocean unless you are in the front row.
And yes, you can get trapped getting out to PCH in the summer.
Not a great locale for a primary residence.