One house does not a market make. You can always selectively pull out sales to show nothing is happening. Not saying you aren’t right but one sale is indicative of….well nothing.

I think if subtract 60 days prior when the actually offer was made and look at that specific time frame and think about what was happening in the market at the that time.
There were a lot of articles about rebounds in the market in march of 2007. Remember Feb numbers were not that bad and inventory was shrinking.
Go back to June 2006 and rates were climbing and builders were starting to give incentives and lowering prices. Inventory was high.
Not that these things are that big of a deal, but it could have some affect to sale prices.
My sister bought a home in early 2006 and I still haven’t seen a listing of a comparable property in her area for less then she paid. She also paid a lot less at that time then the current comps or comps from 2005.

We have seen plenty of these anecdotal posts to the down-side on this board. A few examples to the upside when we know the market is down about 7-10% will simply underscore the fact that small samples do not a market make.

People read way too much into anecdotes and small sample size data. Case-Shiller has San Diego down 7% from the peak, as of April (the C-S lags a bit). Single samples or even zip-code specific numbers are way too noisy.

Unless substantive upgrades were done, I’d say the new buyer was poorly represented.

Hopefully he won’t befriend his neighbor at the end of the cul-de-sac (1663 Linda Sue Lane) who got a bigger house with an additional bedroom on a bigger lot purchased 5 months eariler for $20,000 less.

Then again, looking more closely, the bigger place backs up to a busier street *and* some darn nice power lines.

Holy crap, who would buy either of these places at these prices in the last year?

Looks like this buyer paid 100% CASH. No loan recorded and MLS says cash sale. Asian last name. Possibly someone taking advantage of the weak dollar?