August 20th, 2010 4:43 PM by Dave Gubler
Foothill Ranch Real Estate Market Analysis - August 20th, 2010. (Detached Homes - 2/37)
2 Closed Sales: Two-thirds of the way through August 2010 and only 2 detached homes have sold in Foothill Ranch. Last month (July) 4 homes had sold by the twentieth of the month and there were also 4 closed transactions by the twentieth of June so we're a little off pace and it will be interesting to see the final sales result with only 4 homes in "pending sales" status.
Sale prices ranged from $510,000.00 to $645,000.00 on the two month-to-date closed transactions. $510,000.00 for a 1,650 sf 3 Bed/2.5 Bath in the Canyon View tract (Standard Sale) and $645,000.00 for a 2,545 sf 5 Bed/2.5 Bath Short Sale in the Belwood Park tract. A great bargain relative to recent comparative sales!
37 Active Listings: Of the 37 active listings in Foothill Ranch 21 are standard (equity) sales, 14 are short sales and the remaining 2 are REO (bank-owned). Asking prices range from a $335,000.00 Short Sale (1,100 sf 2 Bed/2.5 Bath) to a recently price reduced $999,000.00 Standard Sale (3,600 sf 4 Bed/4.5 Bath & Highly Upgraded).
REMINDER: List Price of a Short Sale does not necessarily equate to the price the lender will approve. Potential Buyers & Sellers should learn as much as possible about short sales before considering. Visit our All About Short Sales pages for some solid short sale information.