Sunday, April 20, 2008
The Retreat goes sub-$500k
Here it is, the first legitimate listing in The Retreat for under $500k. There have been a few short sales listed for $500k and one Auction listing, but so far all the regular resale and REO listings have been well over $500k. Prior to this listing the lowest REO listings were $539k and $549K.
8791 Soothing Ct is a 3 bedroom, 2.5 bath home of 3386 sq ft, sitting on just over a quarter acre lot. It's got all the fancy bling (pergranateel etc). It looks like this home was purchased new in Jan 2006 for $884k. It went back to the lender in Jan for $603k. It just listed for $479K. Thats a loss of $405K in just over 2 years, or 46%. I'll go out on a limb here and say that this has a decent chance of selling.