Check out the listing in SEH at 896 Orion. $625K, 3560 sq ft. Bought in 11/2005 for $849K (-26%). The comments do not say anything about short or bank owned but it has to be one of the two.
I drove by 8 houses on Orion and Leeward this morning. All were at least 16% lower than 05-06 purchases, all built in 05-06, 4 were bank owned, 1 was short and 2 had no comments.
The Questhaven area of SEH is at least -15% on average and the inventory hasn’t really hit the market yet. 40-50% from peak is very realistic. Can’t say 2002 pricing because the houses didn’t exist in 2002.
1531 Clifftop, a REO, sold last month for $584, 25% down from original 3/2005 purchase.
