Deutsche Bank Short Sale

[takilma]

Never posted anything, but have closely followed this site for almost 2 years. I’m hoping someone out there can give me a bit of advice/input.

I recently put in a lowball offer on a short sale. The list was $275, I offered $220. It is my understanding that mine was the only offer; the listing has been active for 60 days. The bank (Deutsche) actually responded in less than 30 days! However, they countered with an amount that I am not comfortable with, payment or value-wise. The property is a townhouse in an older (~30 yrs) complex in Escondido, has never been updated, and needs work, although, for me, it is very liveable. Like units are listed from $304-$344, DOM up to 344+, all in better condition.

My question is, does anyone have any experience dealing with Deutsche? I have heard they are pretty intransigent. I know that they currently own at least 2 units in this complex, since last July, and seem to be more interested in getting as much money back as they can, rather than getting them off their books. Would it even be worth it to counter their counter? Should I stick to my original offer?

FWIW, I believe the unit is worth $220-$230 today, and I am aware that it is likely to drop in value to ~$190 in the next few years. I plan to actually live where I buy, for at least 10 years, so some exposure is inconsequential.

Any thoughts out there, other than that I should wait a few years? Which isn’t going to happen, as I need to move by July or August. And, yes, I currently rent.

Thanks all, for any comments, as long as they’re helpful and respectful.

[waterboy]

Go back to them somewhere between $225-$230k. If not accepted, then wait for the next opportunity. I bet by June you will find something nice in the very low $200s

[waterboy]

Go back to them somewhere between $225-$230k. If not accepted, then wait for the next opportunity. I bet by June you will find something nice in the very low $200s

[waterboy]

Go back to them somewhere between $225-$230k. If not accepted, then wait for the next opportunity. I bet by June you will find something nice in the very low $200s

[waterboy]

Go back to them somewhere between $225-$230k. If not accepted, then wait for the next opportunity. I bet by June you will find something nice in the very low $200s

[waterboy]

Go back to them somewhere between $225-$230k. If not accepted, then wait for the next opportunity. I bet by June you will find something nice in the very low $200s

[drunkle]

nothing useful, just ponderings:

wait a week or 10 and counter with a 10% discount. so your counter in a few weeks will be around 200k.

what would you do or think if the value of the place dropped as low as 125k? or even lower? 190k for a condo in escondido still sounds absurd…

[patientrenter]

drunkle: “what would you do or think if the value of the place dropped as low as 125k? or even lower? 190k for a condo in escondido still sounds absurd…”

To get an idea of how low this condo MIGHT go, just look up the price of it, or comparable condos, in 1996-1998. Add 40% for inflation.

Patient renter in OC

[an]

drunkle: “what would you do or think if the value of the place dropped as low as 125k? or even lower? 190k for a condo in escondido still sounds absurd…”

How don’t know how much a place like this would rent for but @ 190k @ 5.25% 30 year fixed, the mortgage payment would be around $1000/month and @ 125k @ 5.25% 30 year fixed, payment would be around $700/month. That’s one way to do the comparison.

“To get an idea of how low this condo MIGHT go, just look up the price of it, or comparable condos, in 1996-1998. Add 40% for inflation.”

I don’t really agree with this logic because interest rate make a big difference. $125k @ 9.5% yield the same monthly payment as $190k @ 5.5%. It might be more logical to say, take 1996-1998 monthly payment and add 40%. Then you’d remove the interest rate variable.

[Fearful]

While you’re at it, ask how much the condo should price at with option arm / teaser rate / toxic shoxic loans.

The ONLY apples to apples comparison is house price. If you compare 30yr fixed, they were about the same in mid-90’s as now, so it’s a spurious argument anyway.

Furthermore, after adjusting for inflation, if anything, prices should fall below the mid-90’s nadir, as they should overshoot more to the negative, as they went further out of whack to the positive.

[takilma]

Fearful,

I am a geezerette, and I’ve been through my share of recessions. I know that this correction will be different than any I have seen, but I would be very surprised to see prices fall as far as you think they will.

I have looked at several short sale and reo properties, and the banks are taking hits of $100k and more in the asking prices. Unfortunately, it’s not enough, and I believe they will be getting 50 cents on the dollar, when all is said and done, if that. However, the axiom is true: when prices go down, interest rates go up. I believe this is going to happen sooner rather than later, as I think it’s going to hit the fan before the end of ’08.

The cost to buy right now, if you can get a good deal, is reasonable. With a 30-yr. fixed, PITI + HOA is about the same as rent. A 7-yr fixed IO, no-neg, no pre-pay penalty is cheaper than rent, and you can always pay down the principal during that period. Of course, determining what is reasonable is the key, isn’t it?

[takilma]

Fearful,

I am a geezerette, and I’ve been through my share of recessions. I know that this correction will be different than any I have seen, but I would be very surprised to see prices fall as far as you think they will.

I have looked at several short sale and reo properties, and the banks are taking hits of $100k and more in the asking prices. Unfortunately, it’s not enough, and I believe they will be getting 50 cents on the dollar, when all is said and done, if that. However, the axiom is true: when prices go down, interest rates go up. I believe this is going to happen sooner rather than later, as I think it’s going to hit the fan before the end of ’08.

The cost to buy right now, if you can get a good deal, is reasonable. With a 30-yr. fixed, PITI + HOA is about the same as rent. A 7-yr fixed IO, no-neg, no pre-pay penalty is cheaper than rent, and you can always pay down the principal during that period. Of course, determining what is reasonable is the key, isn’t it?

[takilma]

Fearful,

I am a geezerette, and I’ve been through my share of recessions. I know that this correction will be different than any I have seen, but I would be very surprised to see prices fall as far as you think they will.

I have looked at several short sale and reo properties, and the banks are taking hits of $100k and more in the asking prices. Unfortunately, it’s not enough, and I believe they will be getting 50 cents on the dollar, when all is said and done, if that. However, the axiom is true: when prices go down, interest rates go up. I believe this is going to happen sooner rather than later, as I think it’s going to hit the fan before the end of ’08.

The cost to buy right now, if you can get a good deal, is reasonable. With a 30-yr. fixed, PITI + HOA is about the same as rent. A 7-yr fixed IO, no-neg, no pre-pay penalty is cheaper than rent, and you can always pay down the principal during that period. Of course, determining what is reasonable is the key, isn’t it?

[takilma]

Fearful,

I am a geezerette, and I’ve been through my share of recessions. I know that this correction will be different than any I have seen, but I would be very surprised to see prices fall as far as you think they will.

I have looked at several short sale and reo properties, and the banks are taking hits of $100k and more in the asking prices. Unfortunately, it’s not enough, and I believe they will be getting 50 cents on the dollar, when all is said and done, if that. However, the axiom is true: when prices go down, interest rates go up. I believe this is going to happen sooner rather than later, as I think it’s going to hit the fan before the end of ’08.

The cost to buy right now, if you can get a good deal, is reasonable. With a 30-yr. fixed, PITI + HOA is about the same as rent. A 7-yr fixed IO, no-neg, no pre-pay penalty is cheaper than rent, and you can always pay down the principal during that period. Of course, determining what is reasonable is the key, isn’t it?

[takilma]

Fearful,

I am a geezerette, and I’ve been through my share of recessions. I know that this correction will be different than any I have seen, but I would be very surprised to see prices fall as far as you think they will.

I have looked at several short sale and reo properties, and the banks are taking hits of $100k and more in the asking prices. Unfortunately, it’s not enough, and I believe they will be getting 50 cents on the dollar, when all is said and done, if that. However, the axiom is true: when prices go down, interest rates go up. I believe this is going to happen sooner rather than later, as I think it’s going to hit the fan before the end of ’08.

The cost to buy right now, if you can get a good deal, is reasonable. With a 30-yr. fixed, PITI + HOA is about the same as rent. A 7-yr fixed IO, no-neg, no pre-pay penalty is cheaper than rent, and you can always pay down the principal during that period. Of course, determining what is reasonable is the key, isn’t it?

[Fearful]

While you’re at it, ask how much the condo should price at with option arm / teaser rate / toxic shoxic loans.

The ONLY apples to apples comparison is house price. If you compare 30yr fixed, they were about the same in mid-90’s as now, so it’s a spurious argument anyway.

Furthermore, after adjusting for inflation, if anything, prices should fall below the mid-90’s nadir, as they should overshoot more to the negative, as they went further out of whack to the positive.

[Fearful]

While you’re at it, ask how much the condo should price at with option arm / teaser rate / toxic shoxic loans.

The ONLY apples to apples comparison is house price. If you compare 30yr fixed, they were about the same in mid-90’s as now, so it’s a spurious argument anyway.

Furthermore, after adjusting for inflation, if anything, prices should fall below the mid-90’s nadir, as they should overshoot more to the negative, as they went further out of whack to the positive.

[Fearful]

While you’re at it, ask how much the condo should price at with option arm / teaser rate / toxic shoxic loans.

The ONLY apples to apples comparison is house price. If you compare 30yr fixed, they were about the same in mid-90’s as now, so it’s a spurious argument anyway.

Furthermore, after adjusting for inflation, if anything, prices should fall below the mid-90’s nadir, as they should overshoot more to the negative, as they went further out of whack to the positive.

[Fearful]

While you’re at it, ask how much the condo should price at with option arm / teaser rate / toxic shoxic loans.

The ONLY apples to apples comparison is house price. If you compare 30yr fixed, they were about the same in mid-90’s as now, so it’s a spurious argument anyway.

Furthermore, after adjusting for inflation, if anything, prices should fall below the mid-90’s nadir, as they should overshoot more to the negative, as they went further out of whack to the positive.

[drunkle]

patient:

if i actually did some research on it, my posting would fall out of the “nothing useful” category. besides, he didn’t post an address, i don’t have historical price data at my fingertips and i’m going on median prices circa 2000.

asia:

taking year 2000 median (200k) and making assumptions about escondido condo values relative to the median, 190k seems high, neglecting inflation… and interest rates. 1000/mo @ 5.25 seems generous… are rates really that low for the average buyer without 800+ credit score? add the ancillary costs/tax benefits, how does it compare? finally… it’s still escondido.

bottom line, my question was merely posed to the op: he isn’t concerned if prices fall to 190 from 210, but how would he feel about a much larger fall. this snowball is only now picking up steam, the rate of decline is increasing and prices a mere 6 months from now may be astounding. although, i do think a decent bump will be had this spring and summer from people like the op who really want to buy and are will to take what they imagine will be only a small bit of a hit.

[drunkle]

patient:

if i actually did some research on it, my posting would fall out of the “nothing useful” category. besides, he didn’t post an address, i don’t have historical price data at my fingertips and i’m going on median prices circa 2000.

asia:

taking year 2000 median (200k) and making assumptions about escondido condo values relative to the median, 190k seems high, neglecting inflation… and interest rates. 1000/mo @ 5.25 seems generous… are rates really that low for the average buyer without 800+ credit score? add the ancillary costs/tax benefits, how does it compare? finally… it’s still escondido.

bottom line, my question was merely posed to the op: he isn’t concerned if prices fall to 190 from 210, but how would he feel about a much larger fall. this snowball is only now picking up steam, the rate of decline is increasing and prices a mere 6 months from now may be astounding. although, i do think a decent bump will be had this spring and summer from people like the op who really want to buy and are will to take what they imagine will be only a small bit of a hit.

[drunkle]

patient:

if i actually did some research on it, my posting would fall out of the “nothing useful” category. besides, he didn’t post an address, i don’t have historical price data at my fingertips and i’m going on median prices circa 2000.

asia:

taking year 2000 median (200k) and making assumptions about escondido condo values relative to the median, 190k seems high, neglecting inflation… and interest rates. 1000/mo @ 5.25 seems generous… are rates really that low for the average buyer without 800+ credit score? add the ancillary costs/tax benefits, how does it compare? finally… it’s still escondido.

bottom line, my question was merely posed to the op: he isn’t concerned if prices fall to 190 from 210, but how would he feel about a much larger fall. this snowball is only now picking up steam, the rate of decline is increasing and prices a mere 6 months from now may be astounding. although, i do think a decent bump will be had this spring and summer from people like the op who really want to buy and are will to take what they imagine will be only a small bit of a hit.

[drunkle]

patient:

if i actually did some research on it, my posting would fall out of the “nothing useful” category. besides, he didn’t post an address, i don’t have historical price data at my fingertips and i’m going on median prices circa 2000.

asia:

taking year 2000 median (200k) and making assumptions about escondido condo values relative to the median, 190k seems high, neglecting inflation… and interest rates. 1000/mo @ 5.25 seems generous… are rates really that low for the average buyer without 800+ credit score? add the ancillary costs/tax benefits, how does it compare? finally… it’s still escondido.

bottom line, my question was merely posed to the op: he isn’t concerned if prices fall to 190 from 210, but how would he feel about a much larger fall. this snowball is only now picking up steam, the rate of decline is increasing and prices a mere 6 months from now may be astounding. although, i do think a decent bump will be had this spring and summer from people like the op who really want to buy and are will to take what they imagine will be only a small bit of a hit.

[drunkle]

patient:

if i actually did some research on it, my posting would fall out of the “nothing useful” category. besides, he didn’t post an address, i don’t have historical price data at my fingertips and i’m going on median prices circa 2000.

asia:

taking year 2000 median (200k) and making assumptions about escondido condo values relative to the median, 190k seems high, neglecting inflation… and interest rates. 1000/mo @ 5.25 seems generous… are rates really that low for the average buyer without 800+ credit score? add the ancillary costs/tax benefits, how does it compare? finally… it’s still escondido.

bottom line, my question was merely posed to the op: he isn’t concerned if prices fall to 190 from 210, but how would he feel about a much larger fall. this snowball is only now picking up steam, the rate of decline is increasing and prices a mere 6 months from now may be astounding. although, i do think a decent bump will be had this spring and summer from people like the op who really want to buy and are will to take what they imagine will be only a small bit of a hit.

[an]

drunkle: “what would you do or think if the value of the place dropped as low as 125k? or even lower? 190k for a condo in escondido still sounds absurd…”

How don’t know how much a place like this would rent for but @ 190k @ 5.25% 30 year fixed, the mortgage payment would be around $1000/month and @ 125k @ 5.25% 30 year fixed, payment would be around $700/month. That’s one way to do the comparison.

“To get an idea of how low this condo MIGHT go, just look up the price of it, or comparable condos, in 1996-1998. Add 40% for inflation.”

I don’t really agree with this logic because interest rate make a big difference. $125k @ 9.5% yield the same monthly payment as $190k @ 5.5%. It might be more logical to say, take 1996-1998 monthly payment and add 40%. Then you’d remove the interest rate variable.

[an]

drunkle: “what would you do or think if the value of the place dropped as low as 125k? or even lower? 190k for a condo in escondido still sounds absurd…”

How don’t know how much a place like this would rent for but @ 190k @ 5.25% 30 year fixed, the mortgage payment would be around $1000/month and @ 125k @ 5.25% 30 year fixed, payment would be around $700/month. That’s one way to do the comparison.

“To get an idea of how low this condo MIGHT go, just look up the price of it, or comparable condos, in 1996-1998. Add 40% for inflation.”

I don’t really agree with this logic because interest rate make a big difference. $125k @ 9.5% yield the same monthly payment as $190k @ 5.5%. It might be more logical to say, take 1996-1998 monthly payment and add 40%. Then you’d remove the interest rate variable.

[an]

drunkle: “what would you do or think if the value of the place dropped as low as 125k? or even lower? 190k for a condo in escondido still sounds absurd…”

How don’t know how much a place like this would rent for but @ 190k @ 5.25% 30 year fixed, the mortgage payment would be around $1000/month and @ 125k @ 5.25% 30 year fixed, payment would be around $700/month. That’s one way to do the comparison.

“To get an idea of how low this condo MIGHT go, just look up the price of it, or comparable condos, in 1996-1998. Add 40% for inflation.”

I don’t really agree with this logic because interest rate make a big difference. $125k @ 9.5% yield the same monthly payment as $190k @ 5.5%. It might be more logical to say, take 1996-1998 monthly payment and add 40%. Then you’d remove the interest rate variable.

[an]

drunkle: “what would you do or think if the value of the place dropped as low as 125k? or even lower? 190k for a condo in escondido still sounds absurd…”

How don’t know how much a place like this would rent for but @ 190k @ 5.25% 30 year fixed, the mortgage payment would be around $1000/month and @ 125k @ 5.25% 30 year fixed, payment would be around $700/month. That’s one way to do the comparison.

“To get an idea of how low this condo MIGHT go, just look up the price of it, or comparable condos, in 1996-1998. Add 40% for inflation.”

I don’t really agree with this logic because interest rate make a big difference. $125k @ 9.5% yield the same monthly payment as $190k @ 5.5%. It might be more logical to say, take 1996-1998 monthly payment and add 40%. Then you’d remove the interest rate variable.

[takilma]

Takilma

I have looked at the sales history. 1996-98 price + 40% would be about $180k. This unit is almost 1700 sf, in a reasonably good area. Yes, I know – it IS Escondido, and I do agree with the generally negative opinions about it, but I’m pretty well stuck here.

Units this size were selling in late 2002 for $225-$250. The high was actually ~$475k, in ’06. Last sale in the complex closed on Dec. 27, a smaller unit, at $310k, and two in Nov., one at $297k (sf unknown), and a very small one (988sf)at $208K. Ridiculous? You betcha!!

[patientrenter]

takilma, it sounds like you’ve got it about right at $220K. Sure, you could offer more if you thought nothing better was likely to come up. But if you believe the fall in prices is going to be big, and prolonged (and most posters here do) then the bank will be the loser if they don’t accept your offer. It doesn’t sound like they have any other bidders. There’ll be lots more like it soon enough.

If you’re a little desperate, as many are after years of waiting for reasonable prices, then go for it. (I turned down a decent $299k condo, 40% off 2006 prices, here in OC just a few weeks ago. I didn’t worry because I am confident that I’ll have lots more like it soon.)

Patient renter in OC

[takilma]

That’s the odd thing in this – to my knowledge, I made the only offer, and they didn’t accept it. I’m inclined to stick with my original offer, just to see what they do. But, they own another unit in the same complex, started out at $322 in August, just reduced for the 4th time, down to $264k. Meanwhile, across the street, an identical unit, another reo, was just listed last week at $210k. Maybe Deutsche just isn’t in as bad a shape as the others?

[drunkle]

wait a few weeks. 4 weeks. submit a counter at 10% off.

what’s the worst that could happen? that unit gets sold to someone else, but another comes up asking your original offer?

[drunkle]

wait a few weeks. 4 weeks. submit a counter at 10% off.

what’s the worst that could happen? that unit gets sold to someone else, but another comes up asking your original offer?

[drunkle]

wait a few weeks. 4 weeks. submit a counter at 10% off.

what’s the worst that could happen? that unit gets sold to someone else, but another comes up asking your original offer?

[drunkle]

wait a few weeks. 4 weeks. submit a counter at 10% off.

what’s the worst that could happen? that unit gets sold to someone else, but another comes up asking your original offer?

[drunkle]

wait a few weeks. 4 weeks. submit a counter at 10% off.

what’s the worst that could happen? that unit gets sold to someone else, but another comes up asking your original offer?

[takilma]

That’s the odd thing in this – to my knowledge, I made the only offer, and they didn’t accept it. I’m inclined to stick with my original offer, just to see what they do. But, they own another unit in the same complex, started out at $322 in August, just reduced for the 4th time, down to $264k. Meanwhile, across the street, an identical unit, another reo, was just listed last week at $210k. Maybe Deutsche just isn’t in as bad a shape as the others?

[takilma]

That’s the odd thing in this – to my knowledge, I made the only offer, and they didn’t accept it. I’m inclined to stick with my original offer, just to see what they do. But, they own another unit in the same complex, started out at $322 in August, just reduced for the 4th time, down to $264k. Meanwhile, across the street, an identical unit, another reo, was just listed last week at $210k. Maybe Deutsche just isn’t in as bad a shape as the others?

[takilma]

That’s the odd thing in this – to my knowledge, I made the only offer, and they didn’t accept it. I’m inclined to stick with my original offer, just to see what they do. But, they own another unit in the same complex, started out at $322 in August, just reduced for the 4th time, down to $264k. Meanwhile, across the street, an identical unit, another reo, was just listed last week at $210k. Maybe Deutsche just isn’t in as bad a shape as the others?

[takilma]

That’s the odd thing in this – to my knowledge, I made the only offer, and they didn’t accept it. I’m inclined to stick with my original offer, just to see what they do. But, they own another unit in the same complex, started out at $322 in August, just reduced for the 4th time, down to $264k. Meanwhile, across the street, an identical unit, another reo, was just listed last week at $210k. Maybe Deutsche just isn’t in as bad a shape as the others?

[patientrenter]

takilma, it sounds like you’ve got it about right at $220K. Sure, you could offer more if you thought nothing better was likely to come up. But if you believe the fall in prices is going to be big, and prolonged (and most posters here do) then the bank will be the loser if they don’t accept your offer. It doesn’t sound like they have any other bidders. There’ll be lots more like it soon enough.

If you’re a little desperate, as many are after years of waiting for reasonable prices, then go for it. (I turned down a decent $299k condo, 40% off 2006 prices, here in OC just a few weeks ago. I didn’t worry because I am confident that I’ll have lots more like it soon.)

Patient renter in OC

[patientrenter]

takilma, it sounds like you’ve got it about right at $220K. Sure, you could offer more if you thought nothing better was likely to come up. But if you believe the fall in prices is going to be big, and prolonged (and most posters here do) then the bank will be the loser if they don’t accept your offer. It doesn’t sound like they have any other bidders. There’ll be lots more like it soon enough.

If you’re a little desperate, as many are after years of waiting for reasonable prices, then go for it. (I turned down a decent $299k condo, 40% off 2006 prices, here in OC just a few weeks ago. I didn’t worry because I am confident that I’ll have lots more like it soon.)

Patient renter in OC

[patientrenter]

takilma, it sounds like you’ve got it about right at $220K. Sure, you could offer more if you thought nothing better was likely to come up. But if you believe the fall in prices is going to be big, and prolonged (and most posters here do) then the bank will be the loser if they don’t accept your offer. It doesn’t sound like they have any other bidders. There’ll be lots more like it soon enough.

If you’re a little desperate, as many are after years of waiting for reasonable prices, then go for it. (I turned down a decent $299k condo, 40% off 2006 prices, here in OC just a few weeks ago. I didn’t worry because I am confident that I’ll have lots more like it soon.)

Patient renter in OC

[patientrenter]

takilma, it sounds like you’ve got it about right at $220K. Sure, you could offer more if you thought nothing better was likely to come up. But if you believe the fall in prices is going to be big, and prolonged (and most posters here do) then the bank will be the loser if they don’t accept your offer. It doesn’t sound like they have any other bidders. There’ll be lots more like it soon enough.

If you’re a little desperate, as many are after years of waiting for reasonable prices, then go for it. (I turned down a decent $299k condo, 40% off 2006 prices, here in OC just a few weeks ago. I didn’t worry because I am confident that I’ll have lots more like it soon.)

Patient renter in OC

[takilma]

Takilma

I have looked at the sales history. 1996-98 price + 40% would be about $180k. This unit is almost 1700 sf, in a reasonably good area. Yes, I know – it IS Escondido, and I do agree with the generally negative opinions about it, but I’m pretty well stuck here.

Units this size were selling in late 2002 for $225-$250. The high was actually ~$475k, in ’06. Last sale in the complex closed on Dec. 27, a smaller unit, at $310k, and two in Nov., one at $297k (sf unknown), and a very small one (988sf)at $208K. Ridiculous? You betcha!!

[takilma]

Takilma

I have looked at the sales history. 1996-98 price + 40% would be about $180k. This unit is almost 1700 sf, in a reasonably good area. Yes, I know – it IS Escondido, and I do agree with the generally negative opinions about it, but I’m pretty well stuck here.

Units this size were selling in late 2002 for $225-$250. The high was actually ~$475k, in ’06. Last sale in the complex closed on Dec. 27, a smaller unit, at $310k, and two in Nov., one at $297k (sf unknown), and a very small one (988sf)at $208K. Ridiculous? You betcha!!

[takilma]

Takilma

I have looked at the sales history. 1996-98 price + 40% would be about $180k. This unit is almost 1700 sf, in a reasonably good area. Yes, I know – it IS Escondido, and I do agree with the generally negative opinions about it, but I’m pretty well stuck here.

Units this size were selling in late 2002 for $225-$250. The high was actually ~$475k, in ’06. Last sale in the complex closed on Dec. 27, a smaller unit, at $310k, and two in Nov., one at $297k (sf unknown), and a very small one (988sf)at $208K. Ridiculous? You betcha!!

[takilma]

Takilma

I have looked at the sales history. 1996-98 price + 40% would be about $180k. This unit is almost 1700 sf, in a reasonably good area. Yes, I know – it IS Escondido, and I do agree with the generally negative opinions about it, but I’m pretty well stuck here.

Units this size were selling in late 2002 for $225-$250. The high was actually ~$475k, in ’06. Last sale in the complex closed on Dec. 27, a smaller unit, at $310k, and two in Nov., one at $297k (sf unknown), and a very small one (988sf)at $208K. Ridiculous? You betcha!!

[patientrenter]

drunkle: “what would you do or think if the value of the place dropped as low as 125k? or even lower? 190k for a condo in escondido still sounds absurd…”

To get an idea of how low this condo MIGHT go, just look up the price of it, or comparable condos, in 1996-1998. Add 40% for inflation.

Patient renter in OC

[patientrenter]

drunkle: “what would you do or think if the value of the place dropped as low as 125k? or even lower? 190k for a condo in escondido still sounds absurd…”

To get an idea of how low this condo MIGHT go, just look up the price of it, or comparable condos, in 1996-1998. Add 40% for inflation.

Patient renter in OC

[patientrenter]

drunkle: “what would you do or think if the value of the place dropped as low as 125k? or even lower? 190k for a condo in escondido still sounds absurd…”

To get an idea of how low this condo MIGHT go, just look up the price of it, or comparable condos, in 1996-1998. Add 40% for inflation.

Patient renter in OC

[patientrenter]

drunkle: “what would you do or think if the value of the place dropped as low as 125k? or even lower? 190k for a condo in escondido still sounds absurd…”

To get an idea of how low this condo MIGHT go, just look up the price of it, or comparable condos, in 1996-1998. Add 40% for inflation.

Patient renter in OC

[drunkle]

nothing useful, just ponderings:

wait a week or 10 and counter with a 10% discount. so your counter in a few weeks will be around 200k.

what would you do or think if the value of the place dropped as low as 125k? or even lower? 190k for a condo in escondido still sounds absurd…

[drunkle]

nothing useful, just ponderings:

wait a week or 10 and counter with a 10% discount. so your counter in a few weeks will be around 200k.

what would you do or think if the value of the place dropped as low as 125k? or even lower? 190k for a condo in escondido still sounds absurd…

[drunkle]

nothing useful, just ponderings:

wait a week or 10 and counter with a 10% discount. so your counter in a few weeks will be around 200k.

what would you do or think if the value of the place dropped as low as 125k? or even lower? 190k for a condo in escondido still sounds absurd…

[drunkle]

nothing useful, just ponderings:

wait a week or 10 and counter with a 10% discount. so your counter in a few weeks will be around 200k.

what would you do or think if the value of the place dropped as low as 125k? or even lower? 190k for a condo in escondido still sounds absurd…

[Author]

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