Friday, August 04, 2006

UPDATE: Downtown Condo at Crown Bay #404

This for sale unit was price cut another $30,000 today. This moves the loss up to $54,600.


First known loss at Crown Bay. This building is a midrise property in the Gaslamp Quarter across from the San Diego Convention Center

Resale Price: $410,000
Cost: $440,000

Loss@6% Sales Expenses: $54,600

Purchase Date: 07/01/2005

MLS: 066044081

Holding Period: 12 months and counting...
Bedrooms: 1
Bathrooms: 1
Square Feet: 694

Purchase Details: view


Anonymous said...

Mr. Brightside, thanks for this site. Real world examples best illustrate our down market.

Mr. Brightside said...

Thanks and I agree completely. I keep reading about how the market is still going up, just at a slower rate but then I run across plenty of cases of property changing hands at a loss as this site documents on a daily basis.

Sooner or later everyone buys real estate, it's a basic expectation that you should be able to understand the marketplace in order to do so.