interesting how Zillow is waaay off on each one of these properties.
Poway/High Pine: listed for 360k, zestimate 479k
Poway/Glenoak: listed for 400k, zestimate 549k
Poway/Robison: listed for 435k, zestimate 565k
Escondido/Mission: listed for 335k, zestimate 518k (!)
Escondido/Hayden: listed for 370k, zestimate 570k
Escondido/Jet: listed for 515k, zestimate 712k
the Jet Place is a great example of a bubble burst. 13 new McMansions built in 2004, 2500-3000 sq. ft, two stories, granite countertops, etc. Sold originally in 2005 for around 690k.
03/2007: 757 Jet Pl is foreclosed and becomes a REO. Bank lists it for 600k.
06/2007: owners of 710 Jet Pl default on both their mortgages. Foreclosure is cancelled.
07/2007: 757 Jet Pl is lowered to 571k.
08/2007: 757 Jet Pl is lowered to 542k. Still no buyers.
09/2007: 707 Jet Pl is foreclosed and becomes a REO.
10/2007: 707 Jet Pl is listed for 515k.
10/2007: 748 Jet Pl is foreclosed.
This is clearly not the end of the story. To keep things interesting, Lennar just slashed prices on new houses in its Eureka Springs complex (not far from Jet Pl). 2750 sq ft houses are now being offered for 515k.
