Bath Time: Was Listed at $800K -- Now $610K

[code7700_IHB]

This large price drop caught my eye.



Listing went from $800K to $610K.



But based on the photos of this home (or lack thereof), $610K still seems sort of high. No interior photos normally means "ugly inside" or worse.



Hopefully this is just the first of many such drops.



http://www.redfin.com/CA/Mission-Viejo/24101-Via-Luisa-92691/home/5081490

 

[alan_IHB]

Ugly yellow box home built 36 years ago. Didn't even bother to post any interior pictures.



So far listing has only gone down 25% and is 15% below 2004 sale price, considering losses of 50% have been reported elsewhere, this isn't so dramatic yet.



I agree this property has a lot farther to fall. I'm guessing $350 - $400K at the bottom.

 

[PadreBrian_IHB]

Good lord that cool is scary.



The 2002 value was at 300k. So It ain't worth anymore than 300k.