Things have been kinda slow this week so lets induct a couple of new members into the big loser club
The first inductee is 8113 Sanctuary Dr in The Retreat in south Corona. This home is one of the KB models and is a favorite of mine. I really do like the layout of this home but the price they were previously asking was just loony. This home was sold in May of 2006 for $1,191,500. I don't know if that was the price from the builder or not, I'm guessing it was. Fast forward 2 years and it's now owned by the bank. They have just listed it for $519K. If it sells for asking price that is a loss of $672K (That's a loss of $6,460 a month since the last sale). This home is so close to making it into the $700k club. Even if it sells for over asking this home will easily stay in the $600k club.
A new club! This guy is obviously taking on water fast and more than likely he is going down with the ship. 975 Randall Ranch Rd in Corona is a large estate home up in the Amberhill/Crowne area. This home was purchased in Aug 2006 for $1.9 million. After 194 days on the market the asking price has dropped to $1.0 million. Yup, that is a loss of $900k! If it sells... (His neighbor across the street with a larger home is asking $975k).