There are two other homes listed on that street, one of which has a distant blue water view and the other of which is a larger home. Both are listed below this one’s prior sale price. This property had to be reduced in order to compete with these other listings, and isn this price range, many of the sales that close will do so well below their listing ranges.
Looking at the sales data for this year in Encinitas Ranch and considering this property apparently has no view amenity, the other sales appear to fit the trend demonstrated by these listings. I can see one sale that appears out of line with this trend but besides that I’m not seeing any sales that would fit in with a 04/2006 value of $1.3mm.
There’ll probably be a loss; the question is how much?
