Winners, now a loser in Laguna

Bad timing can kill you, even if you're dealing in luxury Laguna Beach real estate.

22191 Rico Rd, 92651
Asking price: $2,190,000
Previous sales price: $2,100,000
Previous sales date: 2/4/05

Beds:	3
Baths:	4
Sq. Ft.:	3,286
$/Sq. Ft.:	$654
Lot Size:	6,180 Sq. Ft.
Property Type:	Single Family Residence
Style:	Mediterranean
Stories:	3+
View:	Canyon, City Lights, Coastline, Ocean, Has View, Water
Year Built:	1989
Community:	South Laguna
County:	Orange
MLS#:	U9003417
Source:	SoCalMLS
Status:	Active
On Redfin:	68 days

From listing: This exquisite custom Mediterranean Villa is located within a tranquil setting, and is merely a stone s throw of everything Laguna has to offer, including fabulous dining and shopping, galleries, cultural events and the world famous Montage Resort. Revel in approximately 3,286 square feet of elegance with panoramic ocean, and coastline and views. From its soaring entry with sweeping staircase and tranquil fountain, this home evokes old world charm and grandeur. The home features private verandas and patios with a spa at the top level. Amenities include a wine cellar, exercise room and a study with wet bar. Vaulted ceilings and custom French doors throughout add to the charm, making it a true entertainer s delight!

Let's take a look at the sales history:

2005: $2,100,000
2002: $1,410,000
1999: $1,195,000
1996: $810,000

Let's look at the change in price between each of these sales:

2005: +$690,000
2002: +$215,000
1999: +$385,000

That's a pretty darn good track record when you consider the short amount of time between each of these sales. The current owner won't be so lucky, however. This property is listed as a short sale for the current asking price of $2,190,000 despite the fact that it's priced above the 2005 sales price.