Large REO Listing in Fair Oaks, Large Lot, Nice Pool

Mike West | Avalar RealEstate & Mortgage Network | mike@buyyourvilla.com | 916.337.0658 4821 Kenneth Ave., Fair Oaks, CA Large Bank Owned Home With Nice Pool On Almost 1/2 Acre In Fair Oaks 4BR/3BA Single Family House offered at $522,500 Year Built 1987 Sq Footage 3,046 Bedrooms 4 Bathrooms 3 full, 0 partial Floors 1 Parking 3 Car garage Lot Size 21,344 sqft HOA/Maint $0 per month DESCRIPTION This large Bank Owned Home is a single story ranch style set on almost a half acre parcel in the bucolic area of Fair Oaks. It includes four bedrooms (two of them master suites) and three baths. The entry floor is tile and there are custom wood doors and woodwork throughout. The formal living room has laminate floors, a sculptured ceiling and unique entry to the carpeted, formal dining room. The kitchen has laminate floors and tiled counters. The stove top, double ovens, microwave and stove hood have been removed, providing the opportunity for the buyer to select their own new appliances. The family room has a cathedral ceiling and large stone fireplace with insert. The palatial yard includes a sparkling in-ground pool and a natural pond with RV access on the side. The front yard includes a circular driveway with masonry pillars flanking the entry and exit. The three-car garage provides ample space for three vehicles and storage space for many treasures. The location is convenient for commuters, not far from Highway 50, with shopping and services close by. Sorry, no commissions paid to other brokers. Actual listing broker: RE/Max Gold Folsom see additional photos below PROPERTY FEATURES Central A/C Central heat Fireplace High/Vaulted ceiling Tile floor Family room Living room Dining room Breakfast nook Dishwasher Laundry area – inside Balcony, Deck, or Patio Yard Swimming pool COMMUNITY FEATURES Garage parking ADDITIONAL PHOTOS Seller contact info: Mike West Avalar RealEstate & Mortgage Network mike@buyyourvilla.com 916.337.0658 For sale by agent/broker Equal Opportunity Housing Posted: Oct 24, 2008, 7:31pm PDT

WHO IS THE MASTER AROUND HERE?

Giorgio, our five year old Great Dane, enjoys his comforts.  In our experience Great Danes tend to be on the hedonistic side.  The other day we made our bed with all the good bedding and pollows.  My wife discovered Giorgio, the most comfortable dog in El Dorado Hills, doing his thing.  See the included photos.

 

This post continues my study of REO (Bank Owned) home sales in El Dorado Hills and Folsom, CA.  This time we will look at September 2008 sales.

The number of REO properties sold in the study area went back up to 40.  (In July 45 REO properties sold and in August that number dipped to 25.)

The average days on market dropped to 51. Although there were two homes sold that had been on the market for over 200 days and another three that were active for over 100 days, a full 35% of the REO homes sold were on the market for 14 days or less.  Obviously, REO properties are moving rapidly and some of the “stale” listings are clearing off the market as well. 

Of the 100 homes sold in September, 40 were REO proerties. 36.4% if the total. 

A full 47.5% of the REO properties sold for more than the final asking price, one for 114.08% of the asking price.  One home sold for 86.68% of the final asking price.

The cost per square foot for all homes sold dropped to $ 190.00, the second month in a row that number was below $ 200.00.  The cost per square foot of REO sold properties was $ 173.00, 91.1% of average price.  REO properties remain an excellent buy.

Specific data follows.

Folsom/El Dorado Hills Sold REO Properties   September 2008

                      Listing Price at                        SP as %

         DOM     Time of Offer    Sold Price      Final Price
1 Fol    27     $192,900.00     $185,000.00     95.90%
2 Fol  128     $219,900.00     $219,900.00   100.00%
3 Fol      0     $299,900.00     $299,900.00   100.00%
4 Fol    18     $279,900.00     $300,000.00   107.18%
5 Fol      1     $299,900.00     $304,000.00   101.37%
6 Fol    10     $305,900.00     $316,000.00   103.30%
7 Fol    21     $299,900.00     $325,000.00   108.37%
8 EDH  12     $284,900.00     $325,000.00   114.08%
9 Fol    12     $314,900.00     $330,000.00   104.80%
10 Fol    9     $335,000.00     $336,000.00   100.30%
11 Fol 225    $350,000.00     $337,500.00     96.43%
12 EDH 32    $349,900.00     $347,900.00     99.43%
13 EDH 32    $359,000.00     $350,000.00     97.49%
14 EDH 96    $368,900.00     $360,000.00     97.59%
15 Fol   10    $359,900.00     $365,000.00    101.42%
16 FOl   54    $399,900.00     $370,000.00     92.52%
17 EDH  20    $389,900.00     $389,000.00    99.77%
18 EDH  12    $391,400.00     $400,000.00   102.20%
19 EDH  40   $401,000.00      $401,000.00   100.00%
20 EDH  47   $409,499.00      $405,000.00     98.90%
21 EDH 208  $457,900.00      $415,000.00     90.63%
22 EDH  10   $389,900.00      $418,000.00   107.21%
23 EDH 149  $459,900.00      $420,000.00     91.32%
24 EDH     9  $399,900.00      $420,000.00   105.03%
25 EDH   88  $475,000.00      $430,000.00     90.53%
26 Fol     63  $429,900.00      $434,900.00   101.16%
27 EDH   32  $449,000.00      $439,000.00     97.77%
28 EDH   79  $478,234.00      $450,000.00     94.10%
29 EDH   35  $459,900.00      $461,000.00    100.24%
30 EDH   45  $482,900.00      $485,000.00    100.43%
31 EDH   78  $479,000.00      $486,000.00    101.46%
32 EDH     5  $499,000.00      $500,000.00    100.20%
33 Fol     14  $529,900.00      $550,000.00    103.79%
34 Fol     94  $629,000.00      $565,000.00      89.83%
35 EDH  122 $569,000.00      $576,500.00     101.32%
36 Fol      12 $588,000.00      $630,000.00     107.14%
37 Fol      68 $695,000.00      $649,000.00     93.38%
38 Fol      95 $749,900.00      $650,000.00     86.68%
39 EDH    1  $635,000.00       $655,000.00    103.15%
40 EDH  16  $719,900.00       $731,000.00    101.54%
AVE.       51                                                     97.2%
     
REO Sold Cost Per Square Foot:      $173.00  (91.1%) 
Total Sold Cost Per Square Foot:    $190.00   
     
Total Number of REO Homes Sold in November for area:      40 (36.4%)
Total Number of Homes Sold:                                             115