IMHO, the buyer is taking a risk at 1.15 million. Look at the actual sales price in 2002:
11/25/2002: $345,000
What the chances prices will retrace to this level?
Another thing. You need an annual salery of almost $400 k to $ 1/2 million to afford a 1.9 million dollars house payments. Could everyone that makes this much please raise your hands? I don’t, maybe I’m an underachiever.
