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?
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