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.

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511 Paloma Ct Encinitas, CA 92024

$1,499,000
5 Beds
4.5 Baths
3,911 SqFt
Status Active
MLS # 180017915
Property Type Detached
Prepare to be in awe as you enter this spectacular bright and open home! Gaze upon the circular staircase with decorative wrought iron detailing, a large separate living and family rooms, dramatic floor to ceiling windows bathe the living spaces in natural light. The Chef’s dream kitchen features a plethora of cabinet and counter space, a large eat-at center island, double oven and a massive built-in refrigerator, plus a butler's pantry with wine cooler adds convenience to all your gatherings.

1601 Aryana Encinitas, CA 92024

$2,380,000 - $2,500,000
5 Beds
5.5 Baths
5,676 SqFt
Status Active
MLS # 180026718
Property Type Detached
Ocean views, golf course views, panoramic views ... Luxury elegance awaits you at the exclusive gated community of Crestview Estate. Stunning 5 bed 5.5 bath with Master bedroom downstairs . Two formal living room areas, wine cellar, majestic rock fireplace and Studio casita with full kitchen and so much more . Built in BBQ lush landscape and 4 car garage

1756 Aryana Dr Encinitas, CA 92024

$1,929,000
5 Beds
4.5 Baths
4,318 SqFt
Status Active
MLS # 180029835
Property Type Detached
Breathtaking Ocean & Sunset Views! Seldom Available Location in 'Crestview' a Gated Community of 15 Luxury Homes High on the Bluffs of Encinitas! 5BR/4.5BA Craftsman Style Home on .44 Acre Corner Lot w/Pool/Spa & Built-In BBQ Area! Gorgeous Brazilian Cherry Hdwood & Travertine Flooring! Formal Entry w/Downstairs Family Rm Adj to Gourmet Kit w/Lg Breakfast Nook,Granite Counters,Thermador Range,Double Oven,Built-in Refrig! Formal LR & DR and Guest BR/Office Suite! Please see Supp Below... NO MELLO ROOS!

521 Samuel Ct. Encinitas, CA 92024

$1,350,000 - $1,390,000
5 Beds
4.5 Baths
3,416 SqFt
Status Active
MLS # 180037095
Property Type Detached
Immaculately cared for home. Sellers aware of variance in decor preferences, willing to negotiate cost of upgrades in Sale Price. EUSD School District. Ecke Family YMCA 1.8 miles away. 8-miles of hiking trails with mountain and ocean views. Large Master Bath and Closet. Laundry room upstairs with 4 bedrooms. 1 Bedroom down with en suite Bath, and secondary entrance. Lushly Landscaped backyard complete with Palm Trees, Water Feature, Builtin BBQ and Palapa. 2.2 miles to Moonlight Beach. Cool ocean breezes.

1143 Alexandra Lane Encinitas, CA 92024

$1,200,000
4 Beds
2.5 Baths
2,578 SqFt
Status Active
MLS # 180037304
Property Type Detached
Beautiful 4-bedroom, 2.5-bath Encinitas Ranch home. The open floor plan offers stylish upgrades including gorgeous stone travertine flooring, gleaming hardwood floors, updated gourmet kitchen with granite slab island, stylish cabinetry, walk-in pantry, custom fireplaces, designer paint, custom lighting and much more. Situated on a spacious view lot with a large well manicured professionally landscaped yard with a large patio perfect for entertaining. Located on a quiet Cul-De-Sac. Close to all!

761 Lynwood Drive Encinitas, CA 92024

$1,575,000 - $1,625,000
4 Beds
4.5 Baths
4,888 SqFt
Status Active
MLS # 180038305
Property Type Detached
Hello, this home is a must see. Sitting high on a hill with a fabulous east panoramic valley view, this Encinitas Ranch home is pristine. When you first enter this house you will feel the comfort and see the exceptional upgrades few homes offer. The floor plan allows exceptional entertainment for family and guests. Every upgrade from the wood/stone flooring to the granite/marble counter tops are top of the line materials, no expense was spared. This property has been very well maintained. Pls read supment

512 Verbena Ct Encinitas, CA 92024

$1,649,000 - $1,729,000
5 Beds
4.5 Baths
3,416 SqFt
Status Active
MLS # 180039077
Property Type Detached
Seller will respond to offers betw $1,649,000 and $1,729,000. Stunning home with vacation-style tropical yard, sweeping ocean views, pebble tec pool/spa! Welcome home to paradise, highly upgraded home with a large bedroom and bath on first floor. Upgrades include: Hardwood floors, built in entertainment center in Fam Rm, chef's kitchen with huge island, large walk in pantry, soaring ceilings in living rm, view deck off master and more! Solar too!! Resort yard with palapa & outdoor kitchen! Top schools!

1475 Spanish Bay Encinitas, CA 92024

$2,165,000
5 Beds
4 Baths
4,579 SqFt
Status Active
MLS # 180040423
Property Type Detached
Beautiful former model home in Encinitas Ranch, with the most prime lot, having ocean views from BOTH floors!! Golf course frontage and a premium cul-de-sac location complete with a white picket fence! Spacious, great room floorplan makes for comfy coastal living. Roomy yard has a pool/spa and playhouse. Wine cellar, real hardwood & stone flooring throughout, pendant lamps, high end finishes, wainscoting and judges panelling. Three car garage, courtyard entry, high ceilings. This one is a must see.

674 Cypress Hills Dr Encinitas, CA 92024

$1,500,000
4 Beds
4.5 Baths
3,347 SqFt
Status Back On Market
MLS # 180040720
Property Type Detached
Stunning Contemporary Remodel just completed in sought after Family Friendly Encinitas Ranch. New custom pool, spa and fully landscaped yard offer fantastic indoor/outdoor entertaining. Oceanview private in-law/nanny unit is attached to the home with a separate gated staircase entrance. Bright & remodeled throughout. Remodel includes a magnificent modern master bath with marble tile, freestanding tub, new vanities, fixtures and quartz countertops. New hardwood floors,LED lighting, and much more! Must See!

850 Jensen Ct Encinitas, CA 92024

$1,999,000 - $2,050,000
5 Beds
5.5 Baths
5,177 SqFt
Status Active
MLS # 180041811
Property Type Detached
If these walls could talk they would tell the story of family celebrations and special events. Wow. This gorgeous gem is set up for entertaining with beautiful custom upgrades: Custom crown molding, gorgeous travertine floors, leaded glass, custom paint throughout the house, wrought-iron/wood stairway handrail, custom built-ins throughout, a custom wrought iron exterior door, a multi-zone sound system pipes in music inside and out, a lush intimate courtyard.

817 Lynwood Drive Encinitas, CA 92024

$1,599,000
4 Beds
3.5 Baths
4,434 SqFt
Status Active
MLS # 180042055
Property Type Detached
A truly stunning Encinitas Ranch home,in the heart of Encinitas, with an amazing backyard and beautiful canyon views! Having 4 bedrooms, 3.5 baths, 2 offices, and a huge bonus room, you will have no shortage of space! The first floor living is inviting with high ceiling rooms, wainscoting, crown molding, & warm rich wood floors. A large gourmet kitchen with a center island opens to an impressive family room, and looks out to the beautiful Pool, Spa, and cozy firepit. Close to shopping, I-5, beach, & more.

1172 Hampton Court Encinitas, CA 92024

$1,099,000
4 Beds
3.5 Baths
2,578 SqFt
Status Active
MLS # 180042848
Property Type Detached
Great cul de sac location in Encinitas Ranch w/golf course views! Seller/original owner had builder put in addt'l full bath upstairs & addt'l insulation. Oak floors, plantation shutters & Hunter Douglas treatments. Open kitchen w/oak cabinets & center island. Big family room w/fireplace. Master bath w/custom shower, tub & 2 big closets. Living room opens to porch. Private yard w/Hot Springs spa. Close to beach, golf, shops, dining, excellent schools, worship & more. Please see supplement.

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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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