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.

722 Rihely Place Encinitas, CA 92024

$1,899,000
4 Beds
3.5 Baths
3,400 SqFt
Status Active
MLS # 210018006
Property Type Single Family Residence
Price Type --
Gorgeous Encinitas Ranch Home enjoys Ocean views from the Master Bedroom.Just mins from the coast, on a quiet cul de sac.Formal Living Room/Fireplace & front patio.Remodeled Kitchen opens to the Family room with Fireplace & doors to outside patio.There is a Sitting/Game room off the Family room.The Master suite has a balcony,2 walk in closets & vanities Walk in shower & separate soaking tub.The additional bedrooms are oversized The bonus room could be a 5th Bedroom or Study. Custom built in BBQ, Firepit & newly laid pathways complete the landscaped grounds.There is solar & a Tesla charger.This exquisitely maintained community boasts miles of dedicated walking trails play ground & a Private Park. Complex Features: ,, Equipment: Dryer,Fire Sprinklers,Garage Door Opener, Washer Sewer: Sewer Connected Topography: LL

623 Alex Way Encinitas, CA 92024

$2,495,000
5 Beds
4.5 Baths
3,347 SqFt
Status Pending
MLS # NDP2106428
Property Type Single Family Residence
Price Type --
DESIGNER OWNED POOL HOME! Reimagined and remodeled for today's new way of living. This gorgeous home mixes the perfect blend of style, elegance and fun to create a true entertainer’s paradise! Rare 11,000 sq ft lot packed with $400k in upgrades including a solar heated, salt water pool/spa with rock waterslide, built-in BBQ with fridge, covered patio, gas firepit, lush landscaping and sloped hardscape offers more privacy. Immaculate interior with gorgeous Oak wood floors, custom woodwork, designer paint and lighting. Spacious master suite with retreat, dual walk in closets and deck overlooking the custom resort backyard. Formal dining and living rooms, separate office, surround sound, crown molding and wainscoting. Granite counters, French La Cornue range, stainless Kitchen Aid appliances, large island and custom pantry in the kitchen that overlook backyard through upgraded sliding doors. Bonus guest suite with kitchenette, A/C and loft with ocean view! This granny flat can live like a bedroom or offer more privacy as it also has it’s own exterior entrance. Beach-close location surrounded by sprawling Encinitas Ranch golf course and great schools.

515 Paloma Court Encinitas, CA 92024

$2,269,000
5 Beds
4.5 Baths
3,416 SqFt
Status Active
MLS # 210018901
Property Type Single Family Residence
Price Type --
Wonderful Encinitas Ranch Family Home located on a quiet cul de sac, with some Ocean & Sunset Views, lovely Ocean Breezes. Well maintaned home with 5 bedroom 4.5 baths. One bed and bath on first level. Upgraded baths, Kitchen with white cabinets, stainless appliances, granite counter tops & Island. Master suite with lovely patio and upgraded master bath new shower and tub surround, large closet. Fireplaces in master and in family room. Great family backyard with good sized lawn area and pool and spa. Peek ocean views from front bedroom and patio, and front yard. Sewer: Sewer Connected Topography: LL

1541 Fairway Vista Encinitas, CA 92024

$1,485,000
4 Beds
2.5 Baths
2,114 SqFt
Status Active
MLS # 210019466
Property Type Single Family Residence
Price Type --
A rare pool-sized flat and private backyard, complete with fire pit seating area and stone retaining walls, comes with this beautiful 4BR Encinitas Ranch home on a double cul de sac with no through traffic. Inside you'll find a spacious and open kitchen with granite counters and newer stainless appliances (2-3yrs). An adjacent living area with direct access to the custom paver patio creates a great room effect with easy indoor/outdoor flow, perfect for daily living or entertaining. The open floor plan with elevated ceilings, 4 full bedrooms upstairs and an abundance of windows allows for tons of natural light. The master suite has a large walk-in closet, dual sinks and vanities in the master bath, along with a separate soaking tub and stand-up shower. Other features include peek ocean views from upstairs bedroom/office, a split 2 car garage, both with direct access to the home, separate laundry room, and newer forced air unit cooling approximately 4 years old. Encinitas Ranch is a phenomenal neighborhood, with tons of hiking trails, golf, and a community playground/park all within walking distance...and just a short drive to Moonlight, Ponto or the many other area beaches, eclectic shops, markets, and restaurants, easy freeway access without the noise. Equipment: Dryer,Garage Door Opener, Washer Sewer: Sewer Connected Topography: LL

1126 Alexandra Ln Encinitas, CA 92024

$1,595,000 - 4Br/4Ba -  for Sale in Encinitas, Encinitas
Open House
$1,595,000
4 Beds
3.5 Baths
2,578 SqFt
Status Active
MLS # 210019622
Property Type Single Family Residence
Price Type --
Encinitas Ranch Cul-de-Sac Home Offers Light, Outdoor Living and En-Suite Bedrooms! This bright and airy home is located in the Devonshire neighborhood of Encinitas Ranch, one of North County’s hottest communities. Craftsman-style stone siding and plantation shutters evoke a beachy bungalow vibe, welcoming you home to manicured landscaping and a 2-car garage. Inside, upgraded flooring flows from generous living and dining space to an entertainer’s greatroom blending the family room with the eat-in kitchen. SOLAR! Relax and gather with guests around a charming fireplace flanked by built-ins, and seamlessly transition through sliding glass doors to dine al fresco on the patio secluded by vine-covered privacy walls and a landscaped hillside. The gourmet kitchen is stylishly updated to showcase quartz countertops, white shaker cabinets, subway tile backsplash, farmhouse sink, walk-in pantry, and high-end stainless appliances including a French door fridge and newer double ovens, built-in range and hood. Laundry and a convenient powder room join the stairs up to private quarters, where each bedroom has upgraded carpets and direct access to a bathroom, including one princess suite and a jack-and-jill bath serving two secondary bedrooms. The luxurious master suite displays brilliant light from a bay window, airy vaulted ceilings, and an upgraded master bath with two walk-in closets, dual vanities, soaking tub and a huge step-in shower. All in an exceptional Encinitas location only minutes to beaches and local hotspots, golf in Encinitas Ranch, the 5 freeway, SD Botanic Gardens. Equipment: Fire Sprinklers Sewer: Sewer Connected Topography: LL

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.

546 Verbena Ct Encinitas, CA 92024

$1,575,000
5 Beds
5.5 Baths
3,539 SqFt
Status Pending
MLS # 210020790
Property Type Single Family Residence
Price Type --
Equipment: Pool/Spa/Equipment Sewer: Sewer Connected Topography: LL

628 Lynwood Drive Encinitas, CA 92024

$3,995,000
5 Beds
5.5 Baths
5,480 SqFt
Status Active
MLS # NDP2107948
Property Type Single Family Residence
Price Type --
This nearly 5500 sq. ft.² estate sits high atop Lynwood Drive on the west side with commending 180° panoramic ocean views all the way to Dana Point. Enter through a private walled in courtyard that encompasses a casita perfect for an office or a gymnasium. The whole downstairs has been completely remodeled including a brand new kitchen. There’s a convenient private granny flat on the main floor with a kitchenette, full bath, walk-in closet and separate courtyard entry. The home is light and bright with five bedroom suites, each has its own bathroom and walk in closet. The extraordinary property has an abundance of extra flex rooms including a Mezzanine library, giant upstairs bonus family room. Separate casita in courtyard, large master retreat 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.

27729 Heritage Lane Valley Center, CA 92082

$756,990
4 Beds
4 Baths
2,731 SqFt
Status Active
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 Active
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.

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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