Just my two cents here… This particular subdivision is Belleza. The property you just listed OC does have a lis pendens filed against it and a 450k recorded mortgage so I do believe it is going to be a short sale. Indeed it is priced aggressively which IMO is what is needed these days.
This is one of those cases where you can look at the data and interpret it in either direction. Yes as sdrealtor pointed out there were two sales in 9/24 and 8/22 but there have been no sales since. There is an additional home that is pending at 490k but it is the small 1909sf plan. Nothing else is pending. I would say prices are “heading” towards 2003 like you pointed out OC. Those that really really want to sell will IMO need to price more along those lines.
Also there have been 9 unique expirations/cancelleds verses 7 solds for this subdivision for listings hitting the MLS since 1/1/07.
