Second time around for these folks. Pricing may be explained by the fact that they have a first mtg for 1.2M and a second for 145k. They listed the home back in 10/07 with Prudential at 1.55M and were at 1.525M when it expired. Obviously in thier minds it was Prudentials fault it didn’t sell so they relisted with Keller Williams on 4/18/08 for 1.499M to 1.52M.
This is not a case of people pricing the home to market conditions but rather a classic case of people pricing the home to thier own view of what they feel they must get out of the sale. Places like Santaluz have alot of denial still brewing in the tank.
If you perform an active/pending search in 1168 h7 and j7 which are two of the mapcodes that contain part of Santaluz you get 24 actives and 2 pendings. Not much of a ratio to shout about. Again, the denial runs deep out there. Agreed that the recent sales I looked at out there do not justify the price but let these people keep that nice mortgage payment alive… they will come around some day. It just may take awhile.
Again, keep in mind that the denial runs deep in many markets out here. Really really deep.
