How low will they go? What's your guess this month. Last year I would never have guessed that nice, newer homes would be listing under $60 a sq/ft. But here were are, and if you look, there are some very nice houses listed that low. Yup, they are in the boonies but so what, that price is darn low.
I know, I know, it seems like it's taking forever for the prices in the desirable areas to fall. But, they are desirable for reasons and those reasons will slow the price declines in those areas. It won't stop them, it wont make the fall any less it will just make it take longer.
Check out what you can get it you don't mind living in the sticks. Can these go lower?? I keep looking for one under $50 sq/ft but no luck so far.
3030 Cat Tail Ct, Hemet is a 3335 sq/ft home with 5 bedrooms and 3 baths. Built in 2005 this home sold new for nearly $450K! IN HEMET...nope no bubble here..... The bank is trying to unload this house for $190K. That's about 57% off the new price. And this is a nice looking house. Even the inside looks good (in the two pics). It has nice hardwood floors and the kitchen looks very nice. At that price this house works out at $57 a sq/ft! This house is down in the newer end of town near Diamond Valley lake.
Think that listing is a fluke? Nope, here's another one even cheaper. 1819 Overland court is in the same area as the first house. This one is a 5 bedroom 4.5 bath home with 3511 sq/ft. This one also built new in 2005 sold for $485k. It's a bank owned and it's listed for $189,900. That's $54 a sq/ft for a newish home with tile floor in the kitchen and granite counters. It even has a landscaped back yard and a small patio. FIFTY FOUR bucks a square!
Here's another, 204 Kirby St, San Jacinto $55 sq/ft
378 Overleaf, San Jacinto (REO) $51 sq/ft
1242 Enchanted, San Jacinto, (REO) $53 sq/ft