It seems like a rare bright spot in a dark real estate market.
A year ago, the house at 920 W. Camile St. in Santa Ana was bank-owned, deserted and tagged with gang graffiti, a symbol of how the subprime lending bonanza had blighted a city block.
In October, the house sold at auction for $304,500, little more than half what a buyer using 100-percent subprime financing paid in 2006.
Today, 920 W. Camile has been renovated, repainted and floored with faux marble. It resold in January for $625,000, according to county records – a $125,000 down payment and a $500,000 mortgage from Wells Fargo Bank.
Saturday, July 26, 2008
$625,000 house on a street wrecked by subprime loans?
The Orange County Register reports:
