SD R, the reason why I said I don’t understand the “haircut” reference is because the 2nd property that was mentioned is different than the first. The owner of the second property bought @ mid 500k, so even if he/she sell it for mid 600k, that’s still a gain. It doesn’t mean much if it could have sold for high 700k 2 years ago. To me, you can’t lose what you never had. So the 700k is just hypothetical until they sell.
