The Encinitas Short Sale from Hell: Closed

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by Roberta Murphy

Encinitas short saleEncinitas Short Sale that should never have been….

Kudos to the patient buyers of this Encinitas short sale, because they truly got a terrific deal ($890,000). It was group hug time Friday afternoon when we received confirmation that our 10-month short sale ordeal in Encinitas Ranch had successfully recorded and closed.

Welcome relief is also due the out of area young seller, who had been unwittingly pulled into a raunchy real estate transaction by a couple of sleazy mortgage brokers (one of whom was the seller) , a credit “packager” –and escrow, title and appraisal personnel who surely knew better than to facilitate such a sham.

Our first time home buyer-turned-seller from Los Angeles, with excellent FICO score (and no savings), was lured by the promise of buying an “undervalued” $1.2 million home (100 percent financing) in San Diego that he could profitably sell 6 months later–while someone else made the payments. It was to be his stepping stone to riches. Or so he thought.

Instead, it turned into 16-month nightmare:

. The “credit “packager” forged our client’s name and leased the property at under-market rent. He collected rents and deposits for about four months, until we listed the Encinitas home for sale. At that time, the tenants began paying rent to their attorney and barred us from showing the home. Now, we were dealing not only with a short sale, but a listing that could not be shown.

. Because we had priced the property aggressively, because Encinitas Ranch is a very desirable community, and because we marketed the home everywhere possible, we were able to secure 8 offers–ranging from ridiculous to credible. This in spite of the fact that the
tenants and their attorney would not allow anyone in to see the home.

. Foreclosure sale for this Encinitas home had to be stopped three times because the loss mitigation department of this major lender has a major interdepartmental communication problem.

Real estate commissions were slashed by the short sale lender, but that is nothing new. They also refused to pay HOA fees that were in serious arrears, the home warranty for the buyer, utilities in our name, and a list of other necessities required for closing. But sometimes achieving the impossible is almost worth more than monetary compensation.

Monday morning, I will order the sign removed from this Encinitas property, where it has probably set a record for the longest-standing Realtor’s sign in Encinitas Ranch.

The neighbors will breathe a sigh of relief–and so will we.

Listed below are other Encinitas Ranch homes listed for sale, with most recent offering showing first. If you have any questions, call Roberta or Scott Murphy at either 760-942-9100 or 760-613-6190.

1756 Aryana Drive Encinitas, CA 92024

$2,995,000
5 Beds
4.5 Baths
4,318 SqFt
Status Active
MLS # NDP2204016
Property Type Single Family Residence
Price Type --
Awesome Buy! Breathtaking Ocean & Sunset Views! Seldom Available Location in 'Crestview', a Gated Community of 15 Luxury Homes High on the Bluffs of Encinitas ( FYI...NO Mello Roos Taxes)! 5BR/4.5 BA Craftsman Style Home on .44 Acre Corner Lot! Private Backyard with Fabulous Heated Pool & Spa w/Waterfall ! Outdoor BBQ Area for Entertaining! Quiet & Very Private Location! Move-In Condition! The House has a Whole House 'Waterboy' Water Filtration System, Central Air Conditioning Upstairs & Surround Sound in the Family Room, Dining Room Master Bedroom and Outside by the Pool! Enter the Home through Double Doors into a Formal Entry. Gorgeous Cabreuva (Santos Mahogany) Hardwood and Travertine Flooring Adorn the Home! Downstairs is a Formal Living Room & Dining Area, the Spacious Family Room w/Fireplace is Located Adjacent to Large Gourmet Kitchen w/ Granite Counters & Stainless Steel Appliances which Include a 2020 Built-In Miele Range/Cooktop, Miele Dishwasher, Built-In Double Oven & Refrigerator. The Kitchen Area Also Includes a Cozy Breakfast Nook & Lots of Kitchen Counter Seating for Informal Dining! The Downstairs Guest Suite has a Semi Private Entrance . Upstairs there are Four Bedrooms, a Large Bonus Room(FamilyRoom, Music Room) & Laundry Room. The Master Bedroom Suite has a Delightful Private Ocean View Balcony. The Second Bedroom has an Attached Bathroom. Between the Second and Third Bedrooms on the South Side of the Home is another Spectacular Ocean View Balcony Accessed via French Doors from the Upstairs Hallway. The Third and Fourth Bedrooms Share a Jack & Jill Bath with 2 Sinks. (Currently the Fourth Bedroom is being used as an Office.) Adjacent to the 4th Bedroom is the Large Bonus Room! Lots of Beautiful Custom Built-In Cabinets Throughout the House! The Gated Community of 'Crestview' is Just a Short Drive to the Beach, Shopping, Restaurants and the Encinitas Ranch Golf Course. Walk Just Outside the Community and You Have Access to Miles of Wonderful Walking Trails! NO Mello Roos Taxes!!

521 Samuel Ct Encinitas, CA 92024

$2,995,000
5 Beds
4.5 Baths
3,600 SqFt
Status Active
MLS # 220012954SD
Property Type Single Family Residence
Price Type --
This extraordinary designer-owned home offers a rare opportunity to own one of the few homes in the front row of the highly coveted Encinitas Ranch. Set in a secluded cul de sac w/ ocean views and immediate trail access, this 5 bedroom/4.5 bath home has been renovated w/ premium materials & finishes! Relax in the new spa set in this botanical enclave offering the ultimate in California coastal living. This home is a must see sanctuary of modern luxury & high design! Separate main level studio/guest suite complete with full bath and kitchenette! This home has been well maintained for an easy turn key experience. This home is conveniently located within minutes of the beach and Downtown Encinitas. Equipment: Dryer,Fire Sprinklers,Garage Door Opener, Washer, Water Filtration Sewer: Sewer Connected Topography: LL

1306 Ravean Ct. Encinitas, CA 92024

$2,995,000
4 Beds
3.5 Baths
4,262 SqFt
Status Active
MLS # NDP2204839
Property Type Single Family Residence
Price Type --
Open Sunday June 12th from 1-4 pm. Welcome to this stunning home in Encinitas Ranch that features a POOL SIZED LOT! As you enter this former model home, you experience a formal entry where the tall windows in front of you simply take your breath away. The home features Spanish custom handrails, tile floors, custom paint, a huge family room with built-ins, a fantastic floorplan and a pool sized lot. The formal living and dining room are the perfect places to hang out and entertain with its fireplace and grand feeling. The dining room features French doors that swing out and lead you to the exterior where the lot is huge and inviting. The family room & kitchen are open and features an island perfect for the cook who wants it all. The kitchen is first class and opens to the exterior via a set of French doors out to the exterior fireplace and putting green. The Family room enjoys a Gas Fireplace, built ins and is ample size for the whole family to gather in. With many French doors throughout the home, you will find it is light, bright and enjoys the distant ocean breezes. Downstairs is a full bedroom with an in-suite bathroom, which is the perfect spot for that older child, guest room, or the parents who need easy access. As you head to the 2nd level you find a huge bonus room with again, French doors & a balcony with beautiful views and breezes. Walking through the upstairs you will find several windows that invite the sun through, and you can also gaze downstairs to the beautiful living area below. 3 additional bedrooms are found upstairs and the two bedrooms at the front of the home have a jack and jill set up which is easy for the family. The Master Suite & bath do not disappoint at all. The master bedroom features a retreat with a fireplace and the balcony is a great place to enjoy the views of the park and pool sized lot below. The master bathroom and closets are something straight out of a high-end hotel. Both closets have been PROFESSIONALLY designed and when built, cost somewhere in the $70,000 range to custom build. Come back downstairs & step outside to a huge pool sized lot, ready for your imagination. The putting green on one side of the lot is perfect for the guy who wants everything, and the other side of the lot is where you can build a spectacular pool and still have room for entertaining. With no one behind you, privacy is key, and the owners have planted everything just right so you can enjoy that privacy every single day. With all that this home offers, it adds to the perfection of this floorplan and features the best set up in the development and light from everywhere. You won’t want to miss this opportunity as this floorplan and its location don’t come on the market often.

694 Rihely Place Encinitas, CA 92024

$2,699,000
5 Beds
4.5 Baths
3,272 SqFt
Status Active
MLS # 220015092SD
Property Type Single Family Residence
Price Type --
Designed with comfort in mind, this beautiful home offers an elegant floor plan and is located in the highly desirable Encinitas Ranch on one of most private lots in the community. This 5 bed/4.5 bath w/ one bedroom and full bathroom downstairs home features a beautifully maintained interior, offering a state of the art kitchen with natural quartzite countertop, high-end stainless steel appliances and more.Unwind in the primary bedroom is complete with dual closets,cozy fireplace and private balcony w/ocean views.The primary bathroom offers a walk in shower and soak in tub. Entertain at ease in the private backyard complete with built in BBQ, relax in the spa/jacuzzi and enjoy the California lifestyle all year long. Encinitas Ranch is a highly sought-after community, conveniently located minutes away from the beach, amazing restaurants, shopping's and more. This home is a must see!! Designed with comfort in mind, this beautiful home offers an elegant floor plan and is located in the highly desirable Encinitas Ranch on one of the most private lots in the community. This home features a beautifully maintained interior and offers 5 bedrooms and 4.5 bathrooms with one bedroom and a full bathroom on the first floor. The state of the art kitchen is complete with high end stainless steel appliances, beautiful natural quartzite countertops, stunning kitchen island and a walk in pantry and will inspire the chef in you. Unwind in the spacious primary bedroom with a cozy fireplace as you watch the sunset on the private balcony with ocean view. Sparkling and airy, the primary bathroom offers a walk in shower, soak in bathtub, dual bathrooms and dual walk in closets. All of the other bedrooms have an ensuite bathroom and a walk in closets. Pristine hardwood floors throughout the house. Entertain at ease at the private backyard complete with built-in BBQ, relax in the spa/jacuzzi and enjoy the California lifestyle all year long. Encinitas Ranch is a highly sought -after community in Encinitas with bike, hiking trails, one of the best golf courses in San Diego and conveniently located minutes away from some of the best beaches in San Diego, Encinitas downtown, amazing restaurants, shoppings and more. This home is a must see!!! Buyers and Buyers agent to verify all information, including square footage before the close of escrow. Complex Features: ,, Equipment: Range/Oven Sewer: Sewer Connected Topography: LL

1499 Paseo De Las Flores Encinitas, CA 92024

$3,200,000
6 Beds
4.5 Baths
4,432 SqFt
Status Active
MLS # NDP2206345
Property Type Single Family Residence
Price Type --
One of the largest ocean view lots in Encinitas Ranch and Hilltop. Ocean views from virtually every room, and panoramic ocean views from the backyard and master balcony. Full bedroom and bath downstairs, and a three car garage, easy conversion for 6th bedroom. Downstairs bedroom has a separate entrance from the street, as well as a full bath. Excellent for home office or In-Law suite.

1375 Ravean Ct Encinitas, CA 92024

$3,499,000
4 Beds
4.5 Baths
5,001 SqFt
Status Active
MLS # 220007112SD
Property Type Single Family Residence
Price Type --
Panoramic view home OVERLOOKING Encinitas Ranch GOLFS 5th Green & beyond to the Blue Pacific OCEAN. The 5Bed 5Bath home is in the Quail Ridge Gated Community with adjacent Parks for the enjoyment of the young & not so young. Upgrades include Marble entry Hall, Brazilian Cherry hardwood flooring, 2story Living room with Mezzanine Library & walk in Wine room. Study (possible first level bed) with full bath. Family Room & Kitchen bounded by walls of glass has center island,SS Appliances & Butlers Pantry. Main Bed suite, 2large walk in closets,2 fireplaces dual vanities & private gym. Ocean views from Jacuzzi, Pebble tec pool & builtin BBQ. 3garages fenced side yard & manicured gardens complete this View Home. Equipment: Dryer,Garage Door Opener,Pool/Spa/Equipment, Water Filtration Sewer: Sewer Connected Topography: LL

6 responses to “The Encinitas Short Sale from Hell: Closed

  1. Congratulations are in order to you, Roberta Murphy, for a job well done in closing the short sale from hell. Ten months in escrow…that was one, big overdue baby! A great feel-good ending to what appears to have been an excruciating, nightmarish experience.

  2. Robin:

    Thank you! It will feel so good not waking so early to call WAMU back east at 6 a.m. Encinitas Ranch will also be immensely relieved to have wonderful new neighbors.

  3. San Diego short sales and foreclosures are becoming far too commonplace. Fortunately, some of the lenders are now aggressively trying to save many of the defaulted San Diego homeowners.

    Somehow, I think Santa Barbara will not be quite as hard-hit with foreclosures and short sales as the inland areas of San Diego.

  4. Great job hanging in there. I, too, just hung on to two short sales and incurred some of the same lender problems. I continue to work these deals in Santa Barbara and find that they are going more smoothly and slightly faster. The interdepartmental communication can be the worst! Utimately, getting it done is what matters. Your communication skills were put to great task. Congrats!

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