More on San Deigo Auction: 30% Below Recent Sales Prices; "Demand Is Not That Strong"
May 14, 2007 | 1:46
pm
Follow-up to our post yesterday on the weekend auction in San Deigo of 100 foreclosed homes: The Wall Street Journal
(summary here courtsey of LA Biz Observed) says homes "were typically going for about 30% below the previous sale or appraisal prices." Example: 4-bedroom in Oceanside went for $495,000, which is 33% below what it sold for in November 2005.
More: "Ramsey Su, a San Diego investor and former real-estate broker specializing in foreclosed properties, said prices were surprisingly low on some homes and the auction showed that 'demand is not that strong.'"
photo credit: San Diego Union-Tribune
