good grief. exactly how fast did you guys want to see the drop?
here’s a little prospective.
This 17019 Sienna Ridge 3,700 sqft home was sold by the builder to the flopper that foreclosed in 3/2006 for $1.064 million!
after exactly a year and a half, now it sells for $870,000, that’s a freaking $194,500 drop in a year and a half! or an annualized loss of $130k.
but a 19% pricing freefall over a year and a half isn’t good enough for you folks. good grief guys, this isn’t the stock market, this is the housing market. this type of drop is as fast as it gets. you can’t go to Perris or Beaumont or Murrieta and point to their 50% drop within a year and claim defeat.
now as far as the question of whether the buyers that purchased our 3700 sqft REO for $870k got a good deal. I do ask that you drive down half a block, make a left on to Sienna Hills Drive, and ask yourself, should these guys have waited and purchased this 4300 sqft REO on 10230 Sienna Hills for $899,900? yup, that’s $30k more for 600 sqft if they just waited an extra month.
