I bought a 4-bdrm, 3 bath house in 1995 in San Diego. It had been on the market for four years… starting price was $230K in 1991 (!) and I got it for $149K.
Classic situation of the owner thinking it was worth more than it really was and chasing the market down, down, down. I had actively been looking at condos up until that time and couldn’t believe I could actually buy a house.
Sold in 2002 for $380K – it is “worth” (Zillow data) $500K today… but I think they would be lucky to get $450K for it.
