this whole neighborhood is set up for additional bargains. the homes were built in 2004-2005 at the peak of the bubble by K.Hovnanian.

Here’s another decent sale recently.

16050 Palomino Valley Rd San Diego CA 92127
5 beds, 4.5 baths, 4,570 sq ft
–03/19/2009: $850,000

I suspect if the buyer of the house for $661k were to flip it, he’ll definately have buyers at $800k to $850k. Which at the very worse means a $100k pre-tax profit after the 6% commission.