Was looking into closed sales in areas of CMR and sabre springs. There were a few homes that closed in 2010 and 2011 which were way below the 2003 prices. During the same time period, other homes in the same area sold for 100 to 150K higher. What gives? cash buyer for foreclosures? Some enlightening would help.
Distressed homes were harder to sell because of the bank sellers being a hassle…
Add in a dose of sketchy short sales where someone close to the seller or the selling agent purchased the home for below market rates.
2010 there were a lot of underwater/in foreclosure sellers – and that put downward pressure… But if a home was in good shape, and a traditional sale, the price might me more in line with what you’d expect.
.
