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

$2,749,000
5 Beds
4.5 Baths
4,318 SqFt
Status Active
MLS # NDP2208470
Property Type Single Family Residence
Price Type --
Golden Opportunity! Luxury, Location, Lifestyle! Yes, You can Have It All ! Captivating Ocean & Sunset Views! Seldom Available Location ( w/Ocean Views & Coveted Privacy) in 'Crestview', a Gated Enclave of 15 Luxury Homes High on the Coastal Bluffs in North Encinitas! Feels Like You are on the 'Top of the World' ! (FYI...No Mello Roos Taxes! ). 5BR/4.5BA Craftsman Style Home on .44 Acre Corner Lot. Backyard w/ Private Paradise...Heated Pool & Spa w/Waterfall!. Low Maintenance Landscaping! Outdoor Area for Entertaining too! Move-In Condition! The House has a Whole House Waterboy Water Filtration System, Central AC Upstairs. Lots of Custom Built-in Cabinets Throughout the House! Enter the House Through Double Front Doors into a Spacious Entry Hall! Stunning Cabreuva (Santos Mahogany) Hardwood & Travertine Flooring gives the House a Luxurious Look! Downstairs is a Formal Living Room w/Fireplace & Dining Room. Views of Patio and Pool & Spa from Family Room and Kitchen! Family Room w/Lots of Custom Built-in Cabinets & a Contemporary Raised Hearth Fireplace. Adjacent to the Family Room is the Gourmet Kitchen. Kitchen has Granite Counters & High End Appliances: Built-in Miele Range/Cooktop (which was Installed in 2020), Miele Dishwasher, Built-in Double Ovens & Refrigerator. Spacious Breakfast Nook for Informal Dining! Downstairs Guest Suite has Access to Private Exterior Entrance. Upstairs is a Large Bonus Room (Family Room/Music Room), Four Additional Bedrooms and a Laundry Room.. The Master Bedroom Suite has a Private Balcony w/Ocean Views and Cool Breezes! The Second Bedroom has an Attached Bathroom & Walk-in Closet. Between the 2nd and 3rd Bedrooms is a Balcony w/ Expansive Ocean Views!. The 3rd and 4th Bedrooms Share a Jack & Jill Bathroom. (The 4th Bedroom is Currently Being Used as an Office.) 'Crestview' is Just a Short Drive to the Beach, I-5 for Commuting, Shopping, Restaurants and the Encinitas Ranch Golf Course! Direct Access to Miles of Wonderful Walking Trails! A Great Place to Live for the Best of Your Life! (No Mello Roos Taxes in 'Crestview'!)

1549 Fairway Vista Encinitas, CA 92024

$1,950,000
3 Beds
2.5 Baths
2,116 SqFt
Status Pending
MLS # 220021943SD
Property Type Single Family Residence
Price Type --
Soak in the sunset and ocean views at this turnkey Encinitas Ranch home. Located on the largest lot in the neighborhood and cushioned by a greenbelt, this property backs-up to the 5th hole of the Encinitas Ranch Golf Course. This 3bed, 2.5bath home is complemented by an abundance of natural light, high ceilings, and an option to convert upstairs bonus room into a 4th bedroom. Immaculately landscaped backyard with a stone pathway that leads to two elevated terraces featuring ocean and fairway views. The newly remodeled kitchen was designed with a coastal appeal and adorns Calacatta Gold Quartz countertops, fireclay farmhouse sink, and Newport Brass faucet & finishes. Downstairs has rosewood floors throughout and French Doors that open to a mature rose garden and expansive yard with endless options for entertaining. The master suite offers a private balcony with ocean and mountain views, oversized walk-in-closet, and soaking tub to enjoy a sunset or moonlight bath. Indoor-outdoor living at its finest. Additional upgrades include a water softener system, R/O water filtration system, newer carpet, and freshly painted interior. Premier hiking and mountain biking trails in neighboring Indian Head Canyon. Equipment: Dryer,Garage Door Opener, Range/Oven, Washer Sewer: Sewer Connected Topography: LL

519 Samuel Court Encinitas, CA 92024

$4,899,000
5 Beds
5.5 Baths
7,634 SqFt
Status Active
MLS # NDP2210458
Property Type Single Family Residence
Price Type --
Experience a remarkable combination of luxury and coastal living in this charming yet expansive, custom estate! Ocean views encompass nearly every room. Enjoy this dream location, privacy and an abundance of amenities. Equipped with five spacious en suite bedrooms. The secluded primary suite benefits from a cozy fireplace, large spa bathroom and ocean view balcony. The executive office is conveniently located alongside the primary wing. Enjoy countless sunsets and ocean breezes from the amazing rooftop deck, alfresco dining space and other entertaining areas. Completed with an attractive movie theater, large fitness center, library nook and 2-story detached guest house with an adorable kitchen. Tastefully renovated with a sophisticated selection of high-end finishes; newly installed solar and HVAC systems provide excellent energy efficiency. With over 7,000 square feet of custom quality and impeccable design, this modern Mediterranean villa is everything!

1499 Paseo De Las Flores Encinitas, CA 92024

$3,200,000
5 Beds
4 Baths
4,432 SqFt
Status Active
MLS # NDP2210566
Property Type Single Family Residence
Price Type --
Brand New Remodel and Staged, Show Cold. Fresh Off White Color Enjoy Spectacular ocean views from this K Hovnanian Luxury Home. Extra large master balcony is South Southwest facing to optimize the lot location. Large Bedroom with private bath on first floor. Pool, with Jacuzzi and Waterfall. Recently repainted in neutral colors. Large open floor plan with big usable lot. Backyard is true south facing with sunshine all year long. Hard surfaces on the first floor and carpeting on the second floor. Newly painted 8 crown and baseboards. Ready to move in.

1475 Heritage Lane Encinitas, CA 92024

$2,850,000 - 5Br/5Ba -  for Sale in Encinitas
Open House
$2,850,000
5 Beds
4.5 Baths
3,911 SqFt
Status Active
MLS # NDP2210814
Property Type Single Family Residence
Price Type --
BEAUTIFUL - newly remodeled Encinitas Ranch home on a Cup-de-sac with OCEAN VEIWS! Custom cabinets, farm sink, walk in pantry and new appliances in the kitchen. There is a butlers pantry that connects the kitchen to the formal dining area. There is new wide plank white oak flooring throughout the home. The staircase has been recently undated with modern railings. The main floor has a large bedroom with an attached full bathroom. the family room has soaring ceiling and an ocean view! The backyard includes an outdoor fireplace and a bbq area. The primary bedroom is oversized - including a fireplace, and sitting area with a ocean view deck. Attached is a beautiful master bathroom with tub, shower and 2 separate closets. The other bedrooms in upper level includes 2 bedrooms contact with a Jack and Jill bathroom and another large bedroom with an attached full bathroom. Bring your buyers to see this beautiful home in Encinitas Ranch!

694 Rihely Place Encinitas, CA 92024

$2,400,000
5 Beds
4.5 Baths
3,272 SqFt
Status Pending
MLS # 220027522SD
Property Type Single Family Residence
Price Type --
Enjoy the ocean breeze on one of the most private lots in Encinitas Ranch. This 5 bed/4.5 bath home w/ one bedroom and full bathroom downstairs features a state of the art kitchen, pristine hardwood floors throughout the house and an impeccable attention to detail. Unwind in the spacious primary bedroom with a sitting room and 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. Entertain with ease in this private backyard with built-in BBQ, spa/jacuzzi and enjoy the California lifestyle year around. The kitchen is complete with high-end stainless-steel appliances, beautiful natural Brazilian quartzite countertops, stunning kitchen island and a walk-in pantry that will inspire the chef in you. All of the other bedrooms have an ensuite bathroom and walk-in closets. Paid solar panels, Dual A/C, outdoor shower with hot water. Located on the Encinitas Ranch Golf Course, Encinitas Ranch is the most highly sought-after community in Encinitas with miles of adjacent walking and biking trails just a few steps away. Bike to some of the best beaches in San Diego or to Encinitas downtown where you’ll find amazing restaurants, shopping and more. The Encinitas Ranch community offers miles of hiking, biking and walking trails with ocean views. Located one mile to the best beachs in California, amazing restaurants and shoppings. The San Dieguito School District is the most desirable school district in San Diego County. 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

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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