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May 25, 2010 at 11:13 PM #555141
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[quote=bearishgurl]
More fundamentally, why did its neighborhood sink to “2000 lows” in the first place??…

A property in a neighborhood that has sunk to “2000 lows” is NOT a “keeper” in the way that sdcellar is referring to. It is a property purchased for rental income or a leg-up for a moderate-income first-time buyer family that needs a stable home for their kids.

Think about it.[/quote]
So, bearishgurl, what do you think about this property: http://www.sdlookup.com/MLS-100030431-14810_Las_Mananas_Rancho_Santa_Fe_CA_92067? It’s being listed at 4% above its 2000 nominal price. We’ll see what it closes at. Do you think this place is NOT a “keeper”?