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Looks like we might have made a good selling decision after all...



An REO version of our same model in our old tract, 86 Sorenson, just closed at $545K. It was purchased for $735K back in December 2005, which was the peak sales price for a unit like ours.
 
[quote author="ipoplaya" date=1225513229]Looks like we might have made a good selling decision after all...



An REO version of our same model in our old tract, 86 Sorenson, just closed at $545K. It was purchased for $735K back in December 2005, which was the peak sales price for a unit like ours.</blockquote>
I think we both made good calls to sell when we did. There's gonna be 2 REOs of my floorplan (current listings at nose bleed levels) within 3-6 months that will bring prices down into the mid-to-low $500s.
 
[quote author="ipoplaya" date=1225513229]Looks like we might have made a good selling decision after all...



An REO version of our same model in our old tract, 86 Sorenson, just closed at $545K. It was purchased for $735K back in December 2005, which was the peak sales price for a unit like ours.</blockquote>


86 Sorenson was part of the Fraud Park post:

<a href="http://www.irvinehousingblog.com/blog/comments/the-plot-thickens-in-fraud-park/">http://www.irvinehousingblog.com/blog/comments/the-plot-thickens-in-fraud-park/</a>
 
[quote author="zovall" date=1225514762][quote author="ipoplaya" date=1225513229]Looks like we might have made a good selling decision after all...



An REO version of our same model in our old tract, 86 Sorenson, just closed at $545K. It was purchased for $735K back in December 2005, which was the peak sales price for a unit like ours.</blockquote>


86 Sorenson was part of the Fraud Park post:

<a href="http://www.irvinehousingblog.com/blog/comments/the-plot-thickens-in-fraud-park/">http://www.irvinehousingblog.com/blog/comments/the-plot-thickens-in-fraud-park/</a></blockquote>


Funny, most of the properties in group 1 are in West Irvine, not Northpark...



Those fraudsters seriously overpaid for many of their Wisteria properties. They paid $735K in 12/05 and almost 9 months further into the bubble, in Oct 2006, the same model but better located went for $740K.
 
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