Opportunity for a below-market home in Oak Creek Commons
From: Marcia J. Bates (mjbatesucla.edu)
Date: Thu, 5 Nov 2009 07:05:12 -0800 (PST)
Dear Folks,

It happened that the owner of one of our units was never able to move in, due to illness. For a time, she rented it out to a wonderful family, but then finally decided that she had to let the unit foreclose, and the family moved on. The home was recently auctioned off and bought by a couple of realtors who simply want to flip it as soon as possible.

Needless to say, we'd much prefer that it go to a buyer interested in cohousing! The unit is three bedrooms, two baths, plus a large finished loft, about 1400 square feet. It has an extra-large yard. Our homes are townhouse style, but with only two or three units to a building. This is an end unit and so gets light from three sides. It has pretty views of hills, is across from our swimming pool and is next to our budding orchard.

We understand that they will sell the house for under $250,000, while market rates are closer to $300,000. (The original sale price was around $400,000 in 2004.) In fact, another unit of the same design is for sale at a higher price, and is shown with photos on our website, oakcreekcommons.org. The buyers are hoping to sell the unit fast and directly--in the next couple of weeks. If they can't sell it that way, then they will put it into the Multiple Listing Service, which of course means sales fees, and they will charge substantially more for it.

Please contact the new owners, not me, about the property, though I'd be happy to respond to questions about OCC. The owner name is SLO County Properties, at 805-471-3452.


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