Here is a much better example in an adjacent neighborhood.
3xx2 Rancho Famosa
Last Sale 7/13/2005 $700,000 (off market date 6/6/05)
Currently listed for $699,000-739,000 (DOM 58).
If they receive an offer on the high end, they break even after commissions. Anything lower and they have a net loss. Fortunatley, the original purchase was not 100% financing.
This example (depending on final sales price) might leave one to believe price levels in this neighborhood have been fairly stable over the last 11 months.
