This luxury unit has depreciated below what it changed hands for in July 2004. This unit has been on the market for over 200 days and has oddly had a price increase a few weeks ago.
Since the unit has been listed for quite sometime a reasonable conclusion is that it's overpriced.
Note the price change history:
Price Reduced: 06/03/06 -- $799,000 to $789,000
Price Reduced: 06/13/06 -- $789,000 to $775,000
Price Reduced: 08/08/06 -- $775,000 to $729,000
Price Increased: 10/19/06 -- $729,000 to $749,000
Cityfront Terrace is located in downtown's Marina District
Type: Listed on MLS(#066031291)
Resale Price: $749,000
Cost: $800,000
Loss@6% Sales Expenses: $95,940
Loss%: 11.99%
Purchase Date: 07/07/2004
Holding Period: 28 months and counting...
Bedrooms: 2
Bathrooms: 2
Square Feet: 1211
Purchase Details: view
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