I would not worry too much, I don’t know if it is a trend for the rest of the county but the REOs seem to be back in full force in mission hills. This one just came on priced around 19% higher than the nominal 1998 price and is priced at just $262 a sq. ft. for a very nice looking property. Looks like the banks are expecting another major round of price drops and might be starting to unload. You may have dodged a bullet.
