It's been a while since we saw a house here so lets take a look at a home that has fallen in value a whopping 63%. 16622 Catalonia Dr is a 5400 s/f Mcmansion up in Woodcrest. This behemoth sold new in Dec. 2006 for $1.381 million. Today it is listed at $512k. It's an REO now so no short sale BS to deal with. The price is solid based on comps so I don't think it will get bid way up. I'd say this area has "corrected" back to about where it would have been had there been no bubble.
I've looked at quite a lot of this model in this tract. I'd never buy one of them though. They are just way too big. If you have a family of 20 or yearn for the MTV "Cribs" lifestyle then these might be for you. I'd prefer something I can afford to maintain, heat, cool, etc.
6 comments:
What's up with 300K shoot up at The Retreat from last
year's price?
One of my broker last told me to get the place at the retreat instead getting a house at lake hills reserve
Did I made a big mistake? Your opinion is sincerely appreciated....
What $300k shoot up? The retreat is selling for about the same as last year. There are a few ridiculously priced homes listed in there but those are not selling. Most of the stuff selling is between $420k and $600k. Same as last year. Check the sold comps. In the last year 4 homes sold at $400k, another half dozen sold under $450k, another 6 sold int he $450-$500k range, another half dozen from $500-550k and over $550k there were over 20 sold. So the prices are not really any different today than they were a year ago. What IS different is the amount of homes for sale. Last year there were tons of homes in there, today you have about a dozen to choose from.
Ask questions if you are uncertain on some aspects of buying or selling a home. A good real estate agent will not mind if you ask questions, however you should do your part and try to educate yourself on the entire process. real estate
What a depreciation on its price.. Nice house design though.
Ray Brickman
Philippine Condo Rental Agency
Post a Comment