An Amazing Foreclosure Deal in the North County
There is a lovely town in the northern part of San Luis Obispo County named Templeton. The town itself is basically one main street. Very old timey small town feel to it. Great fourth of July parade by the way.
Outside town in the hillsides, there have been some pretty upscale developments and large homes built. One such development is called Spanish Lakes. The setting is beautiful; rich oak studded rolling hills. Well, they added a lake and a gate and sliced up some two acre parcels and sold lots to people. Houses were being built. Big houses. Spanish type architecture. Lovely. Homes were selling well. The prices for the built homes were 1M and on up when the development first began selling.
The picture has definitely shifted.
Here's a property that just sold as a foreclosure. This home was 3 bedrooms, 3.5 baths, with a formal dinning room, breakfast nook, and Decor S.S. appliances, granite counters, 2 fireplaces, 3-car garage, 3341 sq.ft., all on 2 acres! It was listed at $654,900 and just closed escrow at $675,000.
In December of 2006 this property sold for $965,000!!
Well, that is interesting.
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