Let’s not call it anything WFB, lets look at the facts.
That was the new price and doesnt include throwing in landscaping, appliances, window treatments etc. That brings the price to 350K in 1997 not 2002. New houses also typically go into escrow 6 months or more before closing (at least they used to) so it is essentially a 1996/1997 price which was the bottom of last cycle. That certainly is not 2002.
In 2002, the lowest sale was $585,000 on Bluepoint. There was a model match on Tea Tree for 595,000. The ocean view homes were going in the high 600’s.
I wont say that it wont get to 650,000 which is about as low as I could imagine but if it does you wont be the only one trying to buy it.
