Chino by request.....

By request I took a quick look at Chino/Chino Hills. I did not see the panic in Chino Hills yet that has taken hold in other areas of the IE. For the most part prices seem more level. I did not find many areas with huge variations in price. However, I did notice most listings were gathering dust, they have been listed for months and many of them have multiple reductions in price. It’s easier to find price big cuts in down in the flat areas of Chino.

Here's a nice example of a newer home in Chino that the buyer is obviously in full panic mode.

7922 SPRING HILL ST, 3790 sq/ft 6 bed 4 bath

Purchased 01/2006 for $769K
Listed for $575K or $151 sq/ft

If he can sell it that would be a loss of $194k plus $34k in fees plus 20K in property taxes. For a grand total loss of $248k in under two years!

15700 WILLOW RUN DR, Chino Hills, CA 91709 is a 4/4 2663 sq/ft home on a postage stamp sized lot. Original owners paid $327,500 in 2000 for it. They should be able to sell this for a handy profit assuming they did not use it as an ATM machine. So far they have whacked off $80k from the original asking price. An example of the “chase the market down plan”

Originally listed 05/06/07 for 728,888 (888? must be a fung shui thing)

Price Reduced: 07/07/07 -- $728,888 to $699,888
Price Reduced: 08/07/07 -- $699,888 to $669,888
Price Reduced: 09/20/07 -- $669,888 to $649,999

How about this baffoon…. At 1454 RANCHO HILLS DR he is also the original owner and bought this 4/3 2857 sq ft home in 1996 for $252k. He currently is asking $699,950 and it’s been on the market for 115 days. Now, why do I think this person is a buffoon. Well in addition to asking 3x what he paid for it, check out his price cuts, especially the last one. YUP you read it right, that my friends is a FIFTY dollar drop on a $700k home! Yea, I’m sure that will make all the difference, a buyer will appear shortly!

Price Reduced: 07/27/07 -- $758,800 to $739,900
Price Reduced: 08/04/07 -- $739,900 to $728,800
Price Reduced: 09/17/07 -- $728,800 to $719,900
Price Reduced: 09/28/07 -- $719,900 to $700,000
Price Reduced: 10/01/07 -- $700,000 to $699,950