Possible Fraud? - 92602

[graphrix_IHB]

I am bringing this one back up since the foreclosures have begun. 68 Arcata was taken back by the bank 3/28 for $620k. There was a lot of discussion on Zovall's original blog post about the prices for this tract. So I wanted to hear what people think this will do to the prices there?

 

[IrvineRenter_IHB]

<a href="http://www.zillow.com/HomeDetails.htm?zprop=61647197">68 Arcata</a>





If you look at Zillow, you see an interesting price/value graph. It spiked up like everything else in 2005, then it leveled off through 2006 at about $620. Then you have the sale in May of 2006 and you get the huge spike followed by a leveling out through the rest of the year. Wait until we get the big drop once this sale is recorded.