37% Price Drop in 4S Ranch –3000+ sq ft homes

[4spotentialbuyer]

37% drop in 4S?

Here is a nice listing for a bank owned home:

10213 Paseo de Linda, San Diego, 92127
Price $744,900 foreclosure
3377 sq foot 4 bedroom 4 bath
Reunion development

Per Zillow: sold 05/10/2006: $1,179,000

Is this the future of 4S? 40% price drop from peak? As I recall, Reunion was a very nice development built by Davidson Communities.

Does anyone have a link or the floorplan to the Reunion development? I’m waiting for homes such as these to drop below 700K.

[Eugene]

The question to be asked is, WTF did this guy buy it for $1,179,000?

10209 Paseo De Linda (6/5, 4150 sf) was sold on the same day for 999k. 10225 Paseo De Linda (6/5, 3823 sf) was sold two months later for 939k.

It’s not a real 40% drop from the peak if the original buyer overpaid at least 20% over fair market value when he bought it.

[Eugene]

The question to be asked is, WTF did this guy buy it for $1,179,000?

10209 Paseo De Linda (6/5, 4150 sf) was sold on the same day for 999k. 10225 Paseo De Linda (6/5, 3823 sf) was sold two months later for 939k.

It’s not a real 40% drop from the peak if the original buyer overpaid at least 20% over fair market value when he bought it.

[Eugene]

The question to be asked is, WTF did this guy buy it for $1,179,000?

10209 Paseo De Linda (6/5, 4150 sf) was sold on the same day for 999k. 10225 Paseo De Linda (6/5, 3823 sf) was sold two months later for 939k.

It’s not a real 40% drop from the peak if the original buyer overpaid at least 20% over fair market value when he bought it.

[Eugene]

The question to be asked is, WTF did this guy buy it for $1,179,000?

10209 Paseo De Linda (6/5, 4150 sf) was sold on the same day for 999k. 10225 Paseo De Linda (6/5, 3823 sf) was sold two months later for 939k.

It’s not a real 40% drop from the peak if the original buyer overpaid at least 20% over fair market value when he bought it.

[Eugene]

The question to be asked is, WTF did this guy buy it for $1,179,000?

10209 Paseo De Linda (6/5, 4150 sf) was sold on the same day for 999k. 10225 Paseo De Linda (6/5, 3823 sf) was sold two months later for 939k.

It’s not a real 40% drop from the peak if the original buyer overpaid at least 20% over fair market value when he bought it.

[PadreBrian]

Yeah, looks like a cash back.

[PadreBrian]

Yeah, looks like a cash back.

[PadreBrian]

Yeah, looks like a cash back.

[PadreBrian]

Yeah, looks like a cash back.

[PadreBrian]

Yeah, looks like a cash back.

[Bugs]

Either that or maybe there were a lot of “options and upgrades”. Most of these builders really raped their buyers for these options by grossly inflating their costs. I mean, really abusive markups.

The irony is that in 3 or 4 years after the initial purchase these upgrades all-but disappear in the resale transactions.

This is just the beginning. I think the really big declines for 4S are at least a year away at this point.

[Bugs]

Either that or maybe there were a lot of “options and upgrades”. Most of these builders really raped their buyers for these options by grossly inflating their costs. I mean, really abusive markups.

The irony is that in 3 or 4 years after the initial purchase these upgrades all-but disappear in the resale transactions.

This is just the beginning. I think the really big declines for 4S are at least a year away at this point.

[Bugs]

Either that or maybe there were a lot of “options and upgrades”. Most of these builders really raped their buyers for these options by grossly inflating their costs. I mean, really abusive markups.

The irony is that in 3 or 4 years after the initial purchase these upgrades all-but disappear in the resale transactions.

This is just the beginning. I think the really big declines for 4S are at least a year away at this point.

[Bugs]

Either that or maybe there were a lot of “options and upgrades”. Most of these builders really raped their buyers for these options by grossly inflating their costs. I mean, really abusive markups.

The irony is that in 3 or 4 years after the initial purchase these upgrades all-but disappear in the resale transactions.

This is just the beginning. I think the really big declines for 4S are at least a year away at this point.

[Author]

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