It’s listed as a short sale, apparently has an NOD filed on it, and has $1,660,000 in loans. Assuming it sells at its listing price this will be a 17% loss for this 92037 property.
Now, a 17% loss obviously isn’t a 50% loss, but when that 17% loss happens in a single year that should catch even Alex’s attention. If the 1989 price was $680k and the 2005 price was $1,350,000, it’s not beyond the realm of reason to envision a $1,000,000 value for this property at some point in the future if the current trend continues long enough.
