This is a massive loss both cash and percentagewise from the last transaction on this property in late 2005.
This is from the MLS Listing Description:
Short sale!!! Short sale!!! Short sale!!!! Lender approval required to purchase property. Great deal (just check the comps). Bring your offers asap before you miss this great deal.
Current Price: $540,000-590,000
Purchase Price: $735,000
Loss @6% Sales Expenses: $227,400
Purchase Date: 12/23/2005
Purchase Details: view
Thanks to masayako on the Piggington site for finding this significant example of our declining real estate market.