sdrealtor, yes you’re right many have stated that Zillow is quite inaccurate…however, the point I wanted to make is that this guy held the property for a year and most likely he is going to take a loss on it! So much for the belief that real estate in Orange County never goes down.
We’re also assuming here that this guy is going to get his asking price…in this market? FAT CHANCE! Not going to happen. He’ll be lucky to sell that thing for 400k before it gets foreclosed upon so I’ll bet you a silver dollar that any way you slice it this guy is going to be eating his shorts!
