Price Breakthrough in Chula Vista

[Jim Jones]

As a close watcher of the 91915 ZIP code in Chula Vista I wanted to point out that the first detached SFR property has hit the market at under $300k. There are other detached homes in the area which are going for the same price but this is the first that is not a condo setup with a shared drive and other restrictive covenants on things like on-street parking ect.

There are a couple of detractors to the property.

1. It’s a short sale which is going to require lender approval.

2. Smaller home at 1,244 sq/ft.

3. The interior of the property looks pretty basic.

But it does break the $300k barrier.

Last purchase price was Sep 29, 2004 @ $513,000. That is a pretty steep decline from the peak.

I would like to hear any comments on what you think a home like this will sell for when this area fully corrects?

http://www.redfin.com/stingray/do/printable-listing?listing-id=1607311

[blackbox]

Looks like a detached condo.

Around $250K, would be a good price for it if the market bottoms (sales and inventory)next year. If not, $200K would do it.

[blackbox]

Looks like a detached condo.

Around $250K, would be a good price for it if the market bottoms (sales and inventory)next year. If not, $200K would do it.

[blackbox]

Looks like a detached condo.

Around $250K, would be a good price for it if the market bottoms (sales and inventory)next year. If not, $200K would do it.

[blackbox]

Looks like a detached condo.

Around $250K, would be a good price for it if the market bottoms (sales and inventory)next year. If not, $200K would do it.

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