So far the most affected areas are usually older and less desirable neighborhoods. I have been watching the Sorrento Valley area (although I don’t think I can afford the homes here) and this is the first major price reduction I see in this tiny city.
This house was sold in June 2005 for $775K and now listing at $615K-$674K. At $625K it would be a 20% loss. With inflation running at 3 percent per year this is a 26% real loss.
This house is relatively expensive compare to other house in Sorrento Valley. Here’s one that’s bigger at a slightly higher price: Linky.
This one is 2527 sq-ft asking for $650,000 – $690,000. Which equates to $257-$273/sq-ft. While the one you linked to is 1832 sq-ft asking for $615-674k, which equates to $335-$368/sq-ft.
This house is relatively expensive compare to other house in Sorrento Valley. Here’s one that’s bigger at a slightly higher price: Linky.
This one is 2527 sq-ft asking for $650,000 – $690,000. Which equates to $257-$273/sq-ft. While the one you linked to is 1832 sq-ft asking for $615-674k, which equates to $335-$368/sq-ft.
This house is relatively expensive compare to other house in Sorrento Valley. Here’s one that’s bigger at a slightly higher price: Linky.
This one is 2527 sq-ft asking for $650,000 – $690,000. Which equates to $257-$273/sq-ft. While the one you linked to is 1832 sq-ft asking for $615-674k, which equates to $335-$368/sq-ft.
This house is relatively expensive compare to other house in Sorrento Valley. Here’s one that’s bigger at a slightly higher price: Linky.
This one is 2527 sq-ft asking for $650,000 – $690,000. Which equates to $257-$273/sq-ft. While the one you linked to is 1832 sq-ft asking for $615-674k, which equates to $335-$368/sq-ft.
Yes, in term of ppsf then it is more expensive. However, it is a single story house with a bigger lot and I think more upgrades inside.
Anyway, this house was purchased at $775K and yours was purchased at $770K so I wanted to show the bigger price drop to make it a little more dramatic.
Yes, in term of ppsf then it is more expensive. However, it is a single story house with a bigger lot and I think more upgrades inside.
Anyway, this house was purchased at $775K and yours was purchased at $770K so I wanted to show the bigger price drop to make it a little more dramatic.
Yes, in term of ppsf then it is more expensive. However, it is a single story house with a bigger lot and I think more upgrades inside.
Anyway, this house was purchased at $775K and yours was purchased at $770K so I wanted to show the bigger price drop to make it a little more dramatic.
Yes, in term of ppsf then it is more expensive. However, it is a single story house with a bigger lot and I think more upgrades inside.
Anyway, this house was purchased at $775K and yours was purchased at $770K so I wanted to show the bigger price drop to make it a little more dramatic.
BTW jimmyle that house backs up right onto Sorrento Valley Rd, a very high traffic corridor. I know many people who have moved in then moved out because of that.
BTW jimmyle that house backs up right onto Sorrento Valley Rd, a very high traffic corridor. I know many people who have moved in then moved out because of that.
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