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.

27733 Heritage Lane Valley Center, CA 92082

$724,990
4 Beds
3 Baths
2,421 SqFt
Status Pending
MLS # OC21155182
Property Type Single Family Residence
Price Type --
Welcome to The Porches by Beazer Homes at Park Circle. This beautiful Camarillo floorplan offers 2,421 sq. ft. with 4 bedrooms and 3 baths and a 2-car tandem garage. You will enjoy the openness of the first floor with a beautiful kitchen including island that opens to the great room and dining area, including a bedroom and bathroom. The upstairs features the primary bedroom with a large primary bathroom and walk in closet, upstairs laundry and two secondary bedrooms. The Park Circle community features include club house, pool, and park making this the place to call home. Homesite 119 is under construction, with an estimated closing date of Jan. 2022. Photos and virtual tour are of the model home.

628 Lynwood Drive Encinitas, CA 92024

$3,600,000
5 Beds
5.5 Baths
5,480 SqFt
Status Active
MLS # NDP2107948
Property Type Single Family Residence
Price Type --
***CARPE DIEM***HOME IS BEING OFFERED AT BELOW RECENT APPRAISED VALUE*See very recent appraisal for $3,550,000 and the floor plans in attached documents. BACKYARD IS COMPLETELY PRIVATE TO ALL... Seller will consider offers that are. from $3,450,000-$3,600,000. Recent 9/28/2021 appraisal(completed by state certified appraiser)is available. Located on the highest ocean facing ridge (400' elevation) in Encinitas across from the 4 mile city maintained trail,This 5480' sq. ft.² estate sits high atop Lynwood Drive on the west side with commending 180° SIT DOWN PANORAMIC OCEAN VIEWS all the way to Dana Point FROM BOTH FLOORS. The foyer of this unique property is a 30'x20' Natural Atrium with stamped concrete and tropical lush Kentia palms. The downstairs was remodeled in 2020 creating an original open floor plan with expansive blue ocean sit down ocean views. There’s a convenient private granny flat on the main floor with a kitchenette, full bath and walk-in closet. The home is light and bright with five bedroom en- suites, and an abundance of extra flex rooms including a 2 story library, 400' upstairs bonus family room. Separate casita in courtyard with A/C, Huge Ocean View office and a quaint yoga studio. The large backyard is perfect for entertaining with phenomenal Pacific views, built in BBQ Bar, Wood burning fireplace, tranquil fountain and cool ocean breezes. There is also auto storage in the attached 3 car garage and parking on driveway for 5 additional cars. 8 CARS OFF STREET PARKING!

27729 Heritage Lane Valley Center, CA 92082

$758,725
4 Beds
4 Baths
2,731 SqFt
Status Pending
MLS # OC21164046
Property Type Single Family Residence
Price Type --
Welcome to The Porches by Beazer Homes at Park Circle. This beautiful Nokota floorplan offers 2,731 sq. ft. with 4 bedrooms and 4 baths and a 2-car garage. You will enjoy the openness of the first floor with a beautiful kitchen including island that opens to the great room and dining area, including a bedroom and bathroom. The upstairs features the primary bedroom with a large primary bathroom and walk in closet, upstairs laundry and two secondary bedrooms plus loft. The Park Circle community features include club house, pool, and park making this the place to call home. Homesite 120 is under construction, with an estimated closing date of Jan. 2022. Photos and virtual tour are of the model home.

27725 Heritage Lane Valley Center, CA 92082

$734,990
4 Beds
3 Baths
2,494 SqFt
Status Pending
MLS # OC21164075
Property Type Single Family Residence
Price Type --
Welcome to The Porches by Beazer Homes at Park Circle. This beautiful Dartmor floorplan offers 2,494 sq. ft. with 4 bedrooms and 3 baths and a 2-car garage. You will enjoy the openness of the first floor with a beautiful kitchen including island that opens to the great room and dining area, including a bedroom and bathroom and laundry room. The upstairs features the primary bedroom with a large primary bathroom and walk in closet, and two secondary bedrooms. The Park Circle community features include club house, pool, and park making this the place to call home. Homesite 121 is under construction, with an estimated closing date of Jan. 2022. Photos and virtual tour are of the model home.

27761 Heritage Lane Valley Center, CA 92082

$734,990
4 Beds
3 Baths
2,494 SqFt
Status Pending
MLS # OC21191879
Property Type Single Family Residence
Price Type --
Welcome to The Porches by Beazer Homes at Park Circle. This beautiful Dartmor floorplan offers 2,494 sq. ft. with 4 bedrooms and 3 baths and a 2-car garage. You will enjoy the openness of the first floor with a beautiful kitchen including island that opens to the great room and dining area, including a bedroom and bathroom and laundry room. The upstairs features the primary bedroom with a large primary bathroom and walk in closet, and two secondary bedrooms. The Park Circle community features include club house, pool, and park making this the place to call home. Homesite 112 is under construction, with an estimated closing date of Feb. 2022. Photos and virtual tour are of the model home.

27757 Heritage Lane Valley Center, CA 92082

$724,990
4 Beds
3 Baths
2,421 SqFt
Status Pending
MLS # OC21191896
Property Type Single Family Residence
Price Type --
Welcome to The Porches by Beazer Homes at Park Circle. This beautiful Camarillo floorplan offers 2,421 sq. ft. with 4 bedrooms and 3 baths and a 2-car tandem garage. You will enjoy the openness of the first floor with a beautiful kitchen including island that opens to the great room and dining area, including a bedroom and bathroom. The upstairs features the primary bedroom with a large primary bathroom and walk in closet, upstairs laundry and two secondary bedrooms. The Park Circle community features include club house, pool, and park making this the place to call home. Homesite 113 is under construction, with an estimated closing date of Feb. 2022. Photos and virtual tour are of the model home.

820 Jensen Court Encinitas, CA 92024

$2,899,999
5 Beds
4.5 Baths
4,318 SqFt
Status Pending
MLS # NDP2111128
Property Type Single Family Residence
Price Type --
Graceful, custom remodeled home perfectly situated on a quiet cul-de-sac. Enjoy stunning panoramic ocean views and alluring sunsets. Open floor plan boasts over 4300 sq. ft. completed with chic style and sophistication. Enjoy 5 spacious bedrooms, all new bathrooms and bonus game room/office. Exceptional location, minutes from the beach and shops, steps to the hiking trails. This beautifully updated home has so much to offer!

819 Jensen Court Encinitas, CA 92024

$3,150,000
4 Beds
4.5 Baths
4,873 SqFt
Status Active
MLS # NDP2111631
Property Type Single Family Residence
Price Type --
An immaculate escape of indoor/outdoor luxury, this 4-bed, 4 and one half baths, freshly painted exterior and interior. Spanish-inspired villa at Encinitas Ranch boasts nearly 5,000 sq ft of interior living space and a resort-style backyard retreat. Nestled on a secluded cul-de-sac, the mixed-medium facade features charming brick and plantation shutter accents, 4-car garage parking, and an elegant arched entryway to a lush front courtyard and KOI lily pond with charming Bronze fish statue, One lower level bedroom includes a kitchenette and separate entrance for use as a guest or income suite [ Casita] Through the main entrance, luxurious tile floors unfold in the dramatic foyer with a sweeping staircase and upper landing. Enjoy formal dining and formal living with a fireplace, each adorned in crown molding and filled with natural light, plus a spacious family room with a second fireplace. The generous chef’s kitchen showcases all stainless appliances, rich granite countertops and backsplash, abundant cabinet storage, and multiple eat-in options including a massive island with breakfast bar. You’ll love the huge master bedroom with huge extension for relaxing and reading and bath with a soaking tub, his-and-hers vanities, two walk-in closets, and a large separate shower. Two secondary bedrooms include an en-suite bath as well. An upper balcony overlooks the serene backyard, where a fountain, shaded gazebo sitting area, and meticulous landscaping adorn the extensive patio hardscape backed by green hillside. This backyard retreat is fit to entertain dozens of guests or share an intimate afternoon grilling and dining al fresco with friends. All just minutes away from Encinitas Ranch Golf Course, beaches, shops and restaurants at Encinitas Ranch Town Center and more.

27741 Heritage Lane Valley Center, CA 92082

$751,990 - 4Br/3Ba -  for Sale in Valley Center, Valley Center
New
$751,990
4 Beds
3 Baths
2,494 SqFt
Status Active
MLS # OC21228240
Property Type Single Family Residence
Price Type --
Welcome to The Porches by Beazer Homes at Park Circle. This beautiful Dartmor floorplan offers 2,494 sq. ft. with 4 bedrooms and 3 baths and a 2-car garage. You will enjoy the openness of the first floor with a beautiful kitchen including island that opens to the great room and dining area, including a bedroom and bathroom and laundry room. The upstairs features the primary bedroom with a large primary bathroom and walk in closet, and two secondary bedrooms. The Park Circle community features include club house, pool, and park making this the place to call home. Homesite 117 is under construction, with an estimated closing date of Jan. 2022. Photos and virtual tour are of the model home.

1445 Ranch Road Encinitas, CA 92024

$1,620,000 - 4Br/3Ba -  for Sale in Encinitas
New
$1,620,000
4 Beds
2.5 Baths
2,116 SqFt
Status Active
MLS # NDP2111775
Property Type Single Family Residence
Price Type --
Enjoy ocean views and ocean breezes from the upper level, front and back decks of this fabulous Encinitas Ranch coastal home. Conveniently located near shopping, restaurant and beach, this spacious 4 bedroom home is ideal for today’s living. Large lush landscaped backyard, beautiful kitchen with maple cabinetry, granite counter tops and stainless steel appliances. Hardwood flooring through out. Spacious premier bedroom with private balcony, inviting bathroom with tumble marble tub and counter top surround. Gated front entry. Split 2 car garage. Minutes to golf course and Encinitas school district.

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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