prices down, slowly but surely

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Submitted by kev374 on December 20, 2007 - 1:17pm

mls# P607390

first time i have seen a 2200 sqft SFR listed at $500k in Mission Viejo. The future looks promising.

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What about this house in
Submitted by gn on December 20, 2007 - 1:42pm.

What about this house in Mission Viejo :

2300 sq ft SFR listed at $495k.

http://homes.realtor.com/search/listingd...

good find gn, these will be
Submitted by kev374 on December 20, 2007 - 2:05pm.

good find gn, these will be 10% lower by mid next year after all the ARM reset carnage unfolds 2008 Q1 and we're officially in a recession.

The fascinating thing is that while even these "low" priced units are languishing on the market with no takers there are a number of sellers listing their 1600-1800 sqft units in the same neighborhood for $650k+! I wonder if these are all FSBOs, surely they can't be realtors pricing these in this market.

What about this house in
Submitted by svelte on December 20, 2007 - 6:05pm.

What about this house in Mission Viejo :

2300 sq ft SFR listed at $495k.

When I followed the link and saw "Close to freeway" in the ad, I was sure I'd go to Zillow and find it backed up to the freeway. But I was wrong.

It backs up to RAILROAD TRACKS. The freeway is about 1500 feet away! lol

It backs up to RAILROAD
Submitted by kev374 on December 20, 2007 - 6:20pm.

It backs up to RAILROAD TRACKS. The freeway is about 1500 feet away! lol

Wha??? Well, in that case it's additional 20% off right there and a lifetime supply of earplugs.