Price $2,125,000.00 Sold For $648,348.00-Beach Close - Oceanside, California. Just a bit of history on this property--- this particular home/condo's are located right near the beach in Oceanside, Ca. They are located on South Pacific and all you need to do is cross over the street and walk down the slope that is just approximately 500 feet to the Pacific Ocean.
This particular location started out as vacant land in 2007 and was purchase by a builder that build three condo style homes, this builder listed these units with an experience agent that is well know for having ocean/beach front knowledge and experience - so pricing these units which were brand new and completed in the latter part of 2008 - should not have been an issue. All three units came on the market in early 2009 and went from$ 2.125,000 to $1,700,000 and then in March of 2010 the listing expire and the builder strategies changed
This builder dropped the price to 1.250,000 and listed for 60 days with another agent, and still no takers. So, the next move this builder takes to move these three units are to auction them off. The first of the three just closed on 7/22/2010 for $648,348. Auctioning did the trick, and I must say that these units, were way over price from the get-go.
All three units were extremely over price to the tune of 1.5 Million each. Total days listed amounted to 320-- selling traditional style--- total time on the market to auction just under 48 days.
So, it comes down to price is king.