Speaking of Harveston, this bank repo just popped up on ZipRealty:
xx096 PASADENA DR, Temecula, CA 92591
List Price: $419,900
1991 sq ft
That list price is 231K below the last sale – a 36% drop! I think the 650K must have involved some cash back (this house was NEVER worth 650K IMHO) – another example of a house flipped at an inflated price in a declining market. I think the 517K was a legit sale – that would still be a 100K loss though! Egad!
Check out the sales history (per CyberHomes.com – Zillow seems to be on the fritz lately):
6/30/2006 Sale Price: $650,000
3/24/2006 Sale Price: $517,000
