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3 comments:
Here we have our tract home McMansion of the day. This one is a foreclosure and now has a new asking price on the MLS as of 17 hours ago. This is a monster topping out better than 5200 sq ft.
MLS: N265499 asking $408,500.00
Purchased: 8/2004 for $665,700.00
http://www.bcpa.net/RecInfo.asp?URL_Folio=513936023180
This is $250K less than the price paid brand new from the builder in 2004.
Lets see how this asking price affect the ajacent properties.
Purchased: 5/2004 $604K
Purchased: 10/2008 for $580K
got a good deal on the short sale (previous price was $960K) at the time now the one next door is a bigger house and asking $408K
http://www.bcpa.net/RecInfo.asp?URL_Folio=513936023170
Ouch!
2500 sq ft Max.
Here we have our 2nd tract home McMansion of the day. The listing says 4100 sq ft, but the property assessor says it is 3378.
It is close enough to make it into McMansion territory.
Same MO, paid way too much now unloading it.
ON MLS: D1291703 as of 16 minutes ago asking $415K
Purchased: 6/2005 for $637K
http://www.bcpa.net/RecInfo.asp?URL_Folio=513936025620
Asking price is much less than brand new from the builder in 2004.
2500 sq ft Max.
Here is another one that although not quite a McMansion, the asking price is $45K less than the brand new price from the builder in 2004 for this foreclosure.
ON MLS: D1349466 as of 7 hours ago asking $380K.
Purchased: 6/2004 for $426K
http://www.bcpa.net/RecInfo.asp?URL_Folio=513936024950
What is amazing is that many of these houses in this area are selling for less than prices paid brand new from the builder. They are not holding up in value.
2500 sq ft Max.
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