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Gerri-Lynn Fives | Coronado Real Estate | Coronado Cays Real Estate Expert

Meet Gerri-Lynn Fives, 2013 REALTOR® of the Year by the Greater San Diego Association Of REALTORS® 
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88 Montego Court is another Coronado Cays foreclosure statistic!

Although leading economists have declared the end of the recession, some home owners in the Coronado Cays will still be experiencing its effects.  The latest victim of bank foreclosure was 88 Montego Court, which had an REO (Real Estate Owned) recording date of September 16, 2010.  This remodeled townhome is located in Montego Bay Villas, a fully gated resort condominium community in the Coronado Cays.  Once again the seller did not keep up with their pricing strategy and clearly missed the mark each time.  This waterfront Coronado Cays townhome was originally listed for sale on September 11, 2007 for $895,000.  It remained on the market with the same listing agent for 678 days, and had a price reduction to $689,000.  Even though two units in the Montego Court complex sold in 2007 (both prior to 88 Montego Court being listed for sale), this seller didn’t experience the same luck.  In April 2008, the only two Montego Court units to sell for the entire year closed escrow.   48 Montego Court sold after only 56 days on the market for $630,000 which was only a 13% markdown from its original list price.  Twenty-eight days later 72 Montego Court sold for $700,000, which was a 15% markdown from its original list price.

On June 24, 2010, 88 Montego Court was listed with a new agent for $599,999 and was only on the market for 15 days.  August 2, 2010 the seller placed his home on the market for the third time, with yet a different agent.  It appears at this point the seller finally got serious about selling and listed his home on a value range of $529,000-$579,888.  Unfortunately, too little too late since 30 days later, on September 16, 2010, 88 Montego Court in the Coronado Cays was foreclosed upon.
Keep an “EYE” out for this and all other Coronado Cays listings the second they hit the market!
Expect More Than A Home…..Create A Lifestyle In Coronado!®
Gerri-Lynn Fives, ABR, CIPS, CNE, CRS, GRI, RSPS, TRC
REALTOR / Broker Associate
Keller Williams Realty – Coronado
Telephone 619-813-7193
DRE# 01274657®®

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