Norco Hills comp killer

The Norco Hills area is up behind the Hidden Valley Golf Course. These are big homes on big lots and most are zoned for horses. Most of these were built in around 2003. I looked at the models when they were new and I think these started around $500k from the builder.


229 OLDENBURG #LN is a 4 bed/3 bath 3087 sq/ft single story home on a 1/2 acre lot. This also qualifies as a DOM winner since it's been on the market for 408 days. I would also like to nominate this for the "dumbass seller of the year award" just for the price changes this baffoon has made. Look at these price changes;


Price Reduced: 11/13/06 -- $1,050,000 to $989,000
Price Reduced: 12/01/06 -- $989,000 to $955,000
Price Reduced: 02/03/07 -- $955,000 to $935,000
Price Reduced: 02/08/07 -- $935,000 to $925,000
Price Reduced: 02/26/07 -- $925,000 to $875,000
Price Increased: 03/20/07 -- $875,000 to $949,000
Price Reduced: 04/13/07 -- $949,000 to $899,000
Price Increased: 07/21/07 -- $899,000 to $1,050,000

It's almost makes you dizzy looking at what this bozo is doing. So he starts at 1.05M over a year ago and 8 changes later he's back where he started.

next...


Here's his competition. 1453 PASO FINO is the same model home, one block over but this one is a REO. The bank took it back in July for $648k. They are looking to make a few bucks on this one and have it listed for $745k. They have been reducing the price $40k every couple of weeks.


Price Reduced: 08/07/07 -- $950,000 to $825,000
Price Reduced: 08/27/07 -- $825,000 to $799,000
Price Reduced: 09/16/07 -- $799,000 to $790,000
Price Reduced: 10/05/07 -- $790,000 to $745,000

next....

We have another player at 1449 Morab WAY with the same model home. This one looks very nice with a cool rock pool. But at $889 it's still quite a bit more than the Repo. It's been on the market for 158 days and was reduced from $950k to $889 a couple of months ago. Of the 3 this look like the best but at $145k more than the repo it has little chance of selling. The current owner bought the property 05/13/2004 for $647,500. So unless he refi'd to pay for that fancy pool or the $200k RV parked besides the home he should be able to drop the price some more.