Pretty amazing price action on this unit at La Vita. It's been price cut again and is now down to $360,000. According to sdlookup.com the unit was priced at $292,000 by the developer, we appear to be well on our way back to original/developer pricing at La Vita.
Keep in mind that this is a short sale which means a deep pocketed financial institution is talking the loss not the current owner. It's in banks interest to work with the owner to avoid keeping a non-performing loan and their books. I think this is a very good example of how fast prices can be cut, even below the cost as the reality is this unit was never really worth it's sale price of $455,000 back in April 2005.
Type: Listed on MLS(#066092848)
List Price: $360,000
Cost: $455,000
Loss@6% Sales Expenses: $116,600
Loss%: 25.63%
Purchase Date: 04/29/2005
Holding Period: 19 months and counting...
Bedrooms: 1
Bathrooms: 1
Square Feet: 706
Purchase Details: view
Note if you want to read the original post about this property simply use the Google site search below.
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