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.

545 Verbena Ct Encinitas, CA 92024

$2,100,000
5 Beds
4.5 Baths
3,416 SqFt
Status Pending
MLS # 210009021
Property Type Single Family Residence
Price Type --
Beautiful Encinitas Ranch home on a cul-de-sac w/ pool! First floor hosts a bedroom w/ en suite bath, grand room, formal dining room, living room w/ fireplace, remodeled kitchen w/ breathtaking Brazilian quartzite center island, Viking 6-burner range, seating nook, & views to the pool & patio. The second level has a spacious master w/ balcony overlooking the pool, master bath retreat w/ walk-in closet, two bedrooms with Jack & Jill bath, separate bed with en suite bath plus a balcony, & a large laundry room complete w/ a dog-washing station! Outdoors you'll find a resort-style oasis w/ a sparking pool heated by passive solar, jacuzzi, BBQ, fireplace w/dining area, covered patio, and tiered perch for lounging! Bonus room: single car garage has been transformed and is currently used as an office/ workout area! Great, well-lit room with lots of possibilities! Complex Features: , Equipment: Dryer,Pool/Spa/Equipment, Washer Sewer: Sewer Connected Topography: LL

844 Jensen Court Encinitas, CA 92024

$2,440,000
6 Beds
5.5 Baths
4,909 SqFt
Status Pending
MLS # OC21100008
Property Type Single Family Residence
Price Type --
A rare 6 bedroom 5.5 bath home, at the end of a very quiet cul-de-sac in Encinitas Ranch. A sprawling floorplan of almost 5,000sqft, the original owners have taken immaculate care of this home. Situated at the top of a hill with no neighbor behind, this home has fantastic views from both the backyard and the oversized balcony off the Master Suite. Let the ocean view and breeze fill the home! Featuring a courtyard with outdoor fireplace off both the living and family rooms, and a separate large backyard that is an entertainers dream. Backyard has a built in BBQ, bar, jacuzzi, pool with waterfall and faux rock slide, is this a home or a resort? Dual A/C units keep this large home cool, and guilt free green energy comes from an array of solar power. Access to the beautiful trails of Encinitas Ranch is mere steps from your front door. This is a very special home and a unique opportunity. This is a home you do not want to miss. Near Encinitas best shopping and golfing.

630 Shasta Drive Encinitas, CA 92024

$2,050,000
4 Beds
4.5 Baths
3,893 SqFt
Status Pending
MLS # NDP2105630
Property Type Single Family Residence
Price Type --
There have only been two homes sold right on the golf course in prestigious Encinitas Ranch within the last two years. Here is a rare opportunity to own one now. This impeccably maintained 4 bdrm, 5 bath, 3,900 sq ft luxury home features everything one would expect here in ER, one of the most desirable coastal communities in the region. Formal entry-way welcomes you to soaring views thru the tall & expansive picture windows that soak-in blue sky and the lush green links. Each bedroom (2 up-2 down) is it’s own suite with full bath. Downstairs master is extra large and luxurious. Dual sided fireplace warms both the family room and the spacious dining room for holiday gatherings. Loft, library, and the spacious and comfortable outdoor entertainment area round out this excellent offering. Please check back here for updates.

1532 Rainey Court Encinitas, CA 92024

$1,750,000
3 Beds
2.5 Baths
2,500 SqFt
Status Active
MLS # 210014541
Property Type Single Family Residence
Price Type --
Gorgeous Encinitas Ranch home with ocean views & fabulous location on quiet cul-de-sac, just minutes from the coast. Excellent, flexible 3+ Bed/2.5 Bath floorplan with 2 bonus rooms: den/optional 4th Bed downstairs, plus office/den upstairs. Modern open kitchen w/center island, living room w/fireplace & separate dining area. Private master suite enjoys lovely ocean, canyon & sunset views, 2 walk-in closets & luxurious en-suite bath w/soaking tub & separate marble shower. Wonderful natural light & fresh ocean breezes throughout. Private backyard w/dining patio & built-in BBQ. Attached 2 car garage. Steps away from beautiful natural scenery and walking trails of open space canyons & hills, plus Encinitas Ranch golf course. Equipment: Garage Door Opener, Range/Oven Sewer: Sewer Connected Topography: LL

1446 Ranch Road Encinitas, CA 92024

$1,749,000
4 Beds
2.5 Baths
2,500 SqFt
Status Pending
MLS # 210014867
Property Type Single Family Residence
Price Type --
Located in the sought after community of Encinitas Ranch, is this beautiful home located above the 5th hole of the Encinitas Ranch golf course. This property has panoramic golf course and ocean views! This home has an open floorplan and a lusciously landscaped yard which is perfect for entertaining friends and family. This property is centrally located 1.5 miles from the Forum shopping center and minutes to the beach. This is a 3 bedroom home with 2 optional bedrooms being used as an office and playroom. 4th room upstairs can easily be converted to a bedroom. Upon entering the home you will notice the quaint and charming gated entry way. Through the front door you are greeted by the expansive and bright formal dining room area adjoining to the large family room area. These adjoining rooms make it perfect for entertaining and are beautifully finished with slate travertine flooring. The upgraded kitchen is complete with a large center island, designer stainless steal appliances, large pantry area cabinetry, and finished with sleek granite countertops. The Backyard oasis is private and professionally landscaped which makes it perfect for backyard play or entertaining. Downstairs offers an oversized large room with an attached patio making it a perfect office or playroom or can even be converted into a bedroom. The luxurious master suite features a relaxing balcony space where you can enjoy breathtaking golf course and ocean views, dual walk in closets and a large Jacuzzi bath. The additional 2 generous sized bedrooms up-stairs all feature custom paint. The 4th upstairs converted loft has been used as an office area and completed with exquisite custom French doors. Additional features include: Epoxy flooring in garage, Newer A/c unit, Newly painted interior, and sleek new light fixtures. Equipment: Dryer,Garage Door Opener, Washer Sewer: Sewer Connected Topography: LL

674 Cypress Hills Drive Encinitas, CA 92024

$2,199,000
5 Beds
4.5 Baths
3,347 SqFt
Status Pending
MLS # NDP2106045
Property Type Single Family Residence
Price Type --
Highly sought-after Encinitas Ranch five-bedroom home with contemporary aesthetic and design details such as wide plank wood flooring, snow white quartz and decorative mouldings. Drenched in natural light, open floorplan, full bedroom and bath down stairs. Oceanview from private in-law/studio with separate gated entrance. Magnificent modern master bath with marble tile, freestanding tub, new vanities, fixtures, and quartz countertops. With your smartphone, control your heated saltwater pool, spa and 2 water features. Paid for home solar system and separate solar for the pool. Three zone AC. 3-car garage. Encinitas Ranch neighborhood hosts community parties, has ocean view hiking trails and resident-only-parks. Located 2 miles to world-class Moonlight Beach. Walk to Encinitas Ranch Golf Course and San Diego Botanical Garden. Near La Costa Resort and Spa, dining and shopping and top-ranked schools. The ultimate coastal lifestyle.

1541 Fairway Vista Encinitas, CA 92024

$1,575,000
4 Beds
2.5 Baths
2,114 SqFt
Status Active
MLS # 210015112
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

623 Alex Way Encinitas, CA 92024

$2,495,000
5 Beds
4.5 Baths
3,347 SqFt
Status Active
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 $250k 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 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.

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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