Monster Price Drops

[jpinpb]

SDLookup has a thread like this. I haven’t seen anything like this here, so if anyone is interested, we can post some properties that have decline dramatically.

This caught my eye b/c it is not in an area where you would normally expect to see such a drop, not Temecula or East Lake. It is in the heart of South Park:

Sold 60% off peak !!
Sold Price: $157,500
Previous sale 08/26/2005 $390,000

http://www.sdlookup.com/MLS-086024191-1341_Fern_St_San_Diego_CA_92102

[temeculaguy]

Popcorn Theory in effect. JP, little history for you, about two years ago I was constantly lamenting on the boards that all of the price slashing wasn’t taking place in the heart of Temecula, it was all 20 miles North of Temecula. South Temecula was holding up, then one popped up 10 miles away from where I wanted to be, then another, then 5. Six months later, one crazy priced one popped up in my hood, then another, then five more, then fifty more. It was like microwave popcorn, and the Popcorn theory was born. It moved like a virus or a train, hence, the Pain Train Theory. A similar thing was taking place in Eastlake at the same time. Many people thought downtown, Northpark, Southpark, South Bay and East County (already started) would be the next to be affected and it is very possible that you found the first kernal that popped in that area, keep watching, it’s fun. One tip, if it is the beginning of the Popcorn theory, the first to pop are usually crappy properties, this 600 sq ft, built in 1923, fits that description. The next one may be tolerable, but stay patient because when the bulk of the popping happens, the nice places get mixed in. Bon Appetit.

[temeculaguy]

Popcorn Theory in effect. JP, little history for you, about two years ago I was constantly lamenting on the boards that all of the price slashing wasn’t taking place in the heart of Temecula, it was all 20 miles North of Temecula. South Temecula was holding up, then one popped up 10 miles away from where I wanted to be, then another, then 5. Six months later, one crazy priced one popped up in my hood, then another, then five more, then fifty more. It was like microwave popcorn, and the Popcorn theory was born. It moved like a virus or a train, hence, the Pain Train Theory. A similar thing was taking place in Eastlake at the same time. Many people thought downtown, Northpark, Southpark, South Bay and East County (already started) would be the next to be affected and it is very possible that you found the first kernal that popped in that area, keep watching, it’s fun. One tip, if it is the beginning of the Popcorn theory, the first to pop are usually crappy properties, this 600 sq ft, built in 1923, fits that description. The next one may be tolerable, but stay patient because when the bulk of the popping happens, the nice places get mixed in. Bon Appetit.

[temeculaguy]

Popcorn Theory in effect. JP, little history for you, about two years ago I was constantly lamenting on the boards that all of the price slashing wasn’t taking place in the heart of Temecula, it was all 20 miles North of Temecula. South Temecula was holding up, then one popped up 10 miles away from where I wanted to be, then another, then 5. Six months later, one crazy priced one popped up in my hood, then another, then five more, then fifty more. It was like microwave popcorn, and the Popcorn theory was born. It moved like a virus or a train, hence, the Pain Train Theory. A similar thing was taking place in Eastlake at the same time. Many people thought downtown, Northpark, Southpark, South Bay and East County (already started) would be the next to be affected and it is very possible that you found the first kernal that popped in that area, keep watching, it’s fun. One tip, if it is the beginning of the Popcorn theory, the first to pop are usually crappy properties, this 600 sq ft, built in 1923, fits that description. The next one may be tolerable, but stay patient because when the bulk of the popping happens, the nice places get mixed in. Bon Appetit.

[temeculaguy]

Popcorn Theory in effect. JP, little history for you, about two years ago I was constantly lamenting on the boards that all of the price slashing wasn’t taking place in the heart of Temecula, it was all 20 miles North of Temecula. South Temecula was holding up, then one popped up 10 miles away from where I wanted to be, then another, then 5. Six months later, one crazy priced one popped up in my hood, then another, then five more, then fifty more. It was like microwave popcorn, and the Popcorn theory was born. It moved like a virus or a train, hence, the Pain Train Theory. A similar thing was taking place in Eastlake at the same time. Many people thought downtown, Northpark, Southpark, South Bay and East County (already started) would be the next to be affected and it is very possible that you found the first kernal that popped in that area, keep watching, it’s fun. One tip, if it is the beginning of the Popcorn theory, the first to pop are usually crappy properties, this 600 sq ft, built in 1923, fits that description. The next one may be tolerable, but stay patient because when the bulk of the popping happens, the nice places get mixed in. Bon Appetit.

[temeculaguy]

Popcorn Theory in effect. JP, little history for you, about two years ago I was constantly lamenting on the boards that all of the price slashing wasn’t taking place in the heart of Temecula, it was all 20 miles North of Temecula. South Temecula was holding up, then one popped up 10 miles away from where I wanted to be, then another, then 5. Six months later, one crazy priced one popped up in my hood, then another, then five more, then fifty more. It was like microwave popcorn, and the Popcorn theory was born. It moved like a virus or a train, hence, the Pain Train Theory. A similar thing was taking place in Eastlake at the same time. Many people thought downtown, Northpark, Southpark, South Bay and East County (already started) would be the next to be affected and it is very possible that you found the first kernal that popped in that area, keep watching, it’s fun. One tip, if it is the beginning of the Popcorn theory, the first to pop are usually crappy properties, this 600 sq ft, built in 1923, fits that description. The next one may be tolerable, but stay patient because when the bulk of the popping happens, the nice places get mixed in. Bon Appetit.

[jpinpb]

42% off peak! Bank owned foreclosure. Sold Price: $925,000
5392 Wilshire Dr
San Diego, CA 92116

Beds/Baths: 4 / 4
Square Feet: 4,793 sf
PPSF: $198
Lot Size: 80,586

Date Price Held Return Annual
04/18/2008 $925,000 2y 10m -42% -17%
05/31/2005 $1,600,000 5y 8m 154% 18%
09/08/1999 $630,000 2m 20% 166%

This beautiful large private home has endless views of qualcomm stadium and mission valley! Hardwood flooring throughout, granite counters, wine cellar, dry sauna & much more

http://www.sdlookup.com/MLS-081003660-5392_Wilshire_Dr_San_Diego_CA_92116

[jpinpb]

42% off peak! Bank owned foreclosure. Sold Price: $925,000
5392 Wilshire Dr
San Diego, CA 92116

Beds/Baths: 4 / 4
Square Feet: 4,793 sf
PPSF: $198
Lot Size: 80,586

Date Price Held Return Annual
04/18/2008 $925,000 2y 10m -42% -17%
05/31/2005 $1,600,000 5y 8m 154% 18%
09/08/1999 $630,000 2m 20% 166%

This beautiful large private home has endless views of qualcomm stadium and mission valley! Hardwood flooring throughout, granite counters, wine cellar, dry sauna & much more

http://www.sdlookup.com/MLS-081003660-5392_Wilshire_Dr_San_Diego_CA_92116

[jpinpb]

42% off peak! Bank owned foreclosure. Sold Price: $925,000
5392 Wilshire Dr
San Diego, CA 92116

Beds/Baths: 4 / 4
Square Feet: 4,793 sf
PPSF: $198
Lot Size: 80,586

Date Price Held Return Annual
04/18/2008 $925,000 2y 10m -42% -17%
05/31/2005 $1,600,000 5y 8m 154% 18%
09/08/1999 $630,000 2m 20% 166%

This beautiful large private home has endless views of qualcomm stadium and mission valley! Hardwood flooring throughout, granite counters, wine cellar, dry sauna & much more

http://www.sdlookup.com/MLS-081003660-5392_Wilshire_Dr_San_Diego_CA_92116

[jpinpb]

42% off peak! Bank owned foreclosure. Sold Price: $925,000
5392 Wilshire Dr
San Diego, CA 92116

Beds/Baths: 4 / 4
Square Feet: 4,793 sf
PPSF: $198
Lot Size: 80,586

Date Price Held Return Annual
04/18/2008 $925,000 2y 10m -42% -17%
05/31/2005 $1,600,000 5y 8m 154% 18%
09/08/1999 $630,000 2m 20% 166%

This beautiful large private home has endless views of qualcomm stadium and mission valley! Hardwood flooring throughout, granite counters, wine cellar, dry sauna & much more

http://www.sdlookup.com/MLS-081003660-5392_Wilshire_Dr_San_Diego_CA_92116

[jpinpb]

42% off peak! Bank owned foreclosure. Sold Price: $925,000
5392 Wilshire Dr
San Diego, CA 92116

Beds/Baths: 4 / 4
Square Feet: 4,793 sf
PPSF: $198
Lot Size: 80,586

Date Price Held Return Annual
04/18/2008 $925,000 2y 10m -42% -17%
05/31/2005 $1,600,000 5y 8m 154% 18%
09/08/1999 $630,000 2m 20% 166%

This beautiful large private home has endless views of qualcomm stadium and mission valley! Hardwood flooring throughout, granite counters, wine cellar, dry sauna & much more

http://www.sdlookup.com/MLS-081003660-5392_Wilshire_Dr_San_Diego_CA_92116

[NotCranky]

Monster drops are interesting. In the 90’s a monster drop might have been around 40% from previous purchase. This time Monster drops will certainly be bigger. Bigger fraud? On a similiar theme…
I was getting started looking at recent sales to see if I could find and evidence of lowball offers being accepted(from last list price not peak). Didn’t get too far with it. I’ll do more later.

[NotCranky]

Monster drops are interesting. In the 90’s a monster drop might have been around 40% from previous purchase. This time Monster drops will certainly be bigger. Bigger fraud? On a similiar theme…
I was getting started looking at recent sales to see if I could find and evidence of lowball offers being accepted(from last list price not peak). Didn’t get too far with it. I’ll do more later.

[NotCranky]

Monster drops are interesting. In the 90’s a monster drop might have been around 40% from previous purchase. This time Monster drops will certainly be bigger. Bigger fraud? On a similiar theme…
I was getting started looking at recent sales to see if I could find and evidence of lowball offers being accepted(from last list price not peak). Didn’t get too far with it. I’ll do more later.

[NotCranky]

Monster drops are interesting. In the 90’s a monster drop might have been around 40% from previous purchase. This time Monster drops will certainly be bigger. Bigger fraud? On a similiar theme…
I was getting started looking at recent sales to see if I could find and evidence of lowball offers being accepted(from last list price not peak). Didn’t get too far with it. I’ll do more later.

[Author]

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