If you like this home at $550,000 I’m guessing you really would have liked it at $238,000, which is how much it originally sold for back in 2001. Many posters on this forum, myself included, think the current prices will eventually collapse within spitting distance to the 2001 pricing before this is all over.
FYI, you might want to have some patience – one of the neighboring properties (same side of the street) just got reposessed by Duetsche Bank in September. I’m guessing this property will get relisted for less than $500,000.