xx876 Sandpiper Ln, Temecula, CA 92591
4/28/2006 Sale Price: $686,000
This house was bought by an investor who has been trying to sell it, chasing the market down. It appears not to be on the market anymore so I’m not sure what’s going on.
And, actually, there are other houses in the same tract that are even DEEPER underwater. Check out the comps on cyberhomes.com. The range of sale prices for this model last year was 632K – 789K. That same exact model is now going for 453K. 789K vs 453K is a 43% price difference or 336K. Now the 789K house probably had a lot of upgrades but I doubt that it would sell for anything over the 400’s now that the builder is selling the new ones for 453K. That 789K house is probably close to 300K underwater, I would guess. Incredible!
