Saturday, March 10, 2007

Sacramento: 2007-03-10 Part 1



11833 Delavan Cir
Rancho Cordova, CA 95742
Total Loss: $232,600Percent Loss: 25.3%
Asking Price: $685,900
Bedrooms:6 Baths: 5 Sq. feet:5160

Listing History:
Down 31.1% from $995,000 On 2006-11-24
Down 1.9% from $699,000 On 2007-01-13

Previous Sales:
Sold on 2006-08-25 for $918,500

MLS# 70001764 Google Maps
Assessed Value Property Tax Bill


10240 Sheldon Rd
Elk Grove, CA 95624
Total Loss: $200,500Percent Loss: 21.1%
Asking Price: $749,500
Bedrooms:3 Baths: 2 Sq. feet:2447

Listing History:
Down 25.0% from $999,000 On 2006-04-21
Down 21.1% from $950,000 On 2007-02-03
Down 16.7% from $899,500 On 2007-02-17
Down 5.8% from $795,500 On 2007-02-24

Previous Sales:
Sold on 2006-08-11 for $950,000

MLS# 70010458 Google Maps
Assessed Value Property Tax Bill


11890 Delavan Cir
Rancho Cordova, CA 95742
Total Loss: $169,112Percent Loss: 21.0%
Asking Price: $635,888
Bedrooms:5 Baths: 4 Sq. feet:4235

Listing History:
Down 27.7% from $879,990 On 2006-10-14
Down 23.4% from $829,990 On 2006-12-09
Down 4.5% from $665,888 On 2007-01-27

Previous Sales:
Sold on 2006-09-14 for $805,000

MLS# 60113334 Google Maps
Assessed Value Property Tax Bill


3027 Palmate Way
Sacramento, CA 95834
Total Loss: $161,000Percent Loss: 18.9%
Asking Price: $689,000
Bedrooms:5 Baths: 3 Sq. feet:4246

Listing History:
Down 12.2% from $785,000 On 2007-01-20
Down 5.6% from $730,000 On 2007-02-09
Down 1.4% from $699,000 On 2007-02-17

Previous Sales:
Sold on 2005-05-02 for $703,000
Sold on 2006-09-29 for $850,000

MLS# 70005513 Google Maps
Assessed Value Property Tax Bill


1600 Baines Ave
Sacramento, CA 95835
Total Loss: $155,000Percent Loss: 19.0%
Asking Price: $660,000
Bedrooms:5 Baths: 4 Sq. feet:4022

Previous Sales:
Sold on 2005-11-23 for $815,000

MLS# 70021475 Google Maps
Assessed Value Property Tax Bill


8557 Spring Azure Way
Elk Grove, CA 95624
Total Loss: $148,000Percent Loss: 25.3%
Asking Price: $437,000
Bedrooms:5 Baths: 3 Sq. feet:2479

Listing History:
Down 2.7% from $449,000 On 2007-02-17
Down 1.8% from $445,000 On 2007-03-03

Previous Sales:
Sold on 2005-07-08 for $585,000

MLS# 70013705 Google Maps
Assessed Value Property Tax Bill


10620 Sheldon Park Way
Elk Grove, CA 95624
Total Loss: $140,000Percent Loss: 15.3%
Asking Price: $775,000
Bedrooms:4 Baths: 2 Sq. feet:2895

Listing History:
Down 35.4% from $1,200,000 On 2006-05-18
Down 21.3% from $985,000 On 2006-08-19
Down 18.0% from $945,500 On 2006-09-30
Down 20.5% from $975,000 On 2006-10-28

Previous Sales:
Sold on 2004-09-03 for $863,000
Sold on 2005-10-28 for $915,000

MLS# 70015266 Google Maps
Assessed Value Property Tax Bill


6418 Valenda Ct
Elk Grove, CA 95757
Total Loss: $135,500Percent Loss: 20.4%
Asking Price: $530,000
Bedrooms:4 Baths: 3 Sq. feet:2954

Listing History:
Down 11.5% from $599,000 On 2006-12-23
Down 10.0% from $589,000 On 2007-01-13

Previous Sales:
Sold on 2006-08-30 for $665,500

MLS# 60133213 Google Maps
Assessed Value Property Tax Bill


7717 Victory Ave
Sacramento, CA 95828
Total Loss: $131,002Percent Loss: 23.8%
Asking Price: $419,900
Bedrooms:2 Baths: 1 Sq. feet:840

Listing History:
Down 4.6% from $440,000 On 2006-12-09
Down 2.3% from $430,000 On 2007-02-09

Previous Sales:
Sold on 2004-03-11 for $285,000
Sold on 2005-02-18 for $395,000
Sold on 2006-03-03 for $550,000
Sold on 2006-10-06 for $550,902

MLS# 60130352 Google Maps
Assessed Value Property Tax Bill


10224 Jenny Lynn Way
Elk Grove, CA 95757
Total Loss: $130,000Percent Loss: 18.7%
Asking Price: $565,000
Bedrooms:5 Baths: 3 Sq. feet:3440

Listing History:
Down 18.1% from $689,900 On 2006-04-09
Down 15.4% from $668,000 On 2006-05-12
Down 10.3% from $629,900 On 2006-06-01
Down 8.9% from $620,000 On 2006-11-11
Down 5.0% from $595,000 On 2006-12-09

Previous Sales:
Sold on 2006-07-27 for $695,000

MLS# 60122804 Google Maps
Assessed Value Property Tax Bill


7148 Mariposa Ave
Citrus Heights, CA 95610
Total Loss: $124,000Percent Loss: 27.6%
Asking Price: $325,000
Bedrooms:2 Baths: 1 Sq. feet:1478

Listing History:
Down 39.3% from $534,999 On 2006-06-01
Down 27.8% from $450,000 On 2006-06-09

Previous Sales:
Sold on 2006-08-31 for $449,000

MLS# 60106971 Google Maps
Assessed Value Property Tax Bill


8651 Cordoniz Ct
Orangevale, CA 95662
Total Loss: $123,000Percent Loss: 35.9%
Asking Price: $220,000
Bedrooms:3 Baths: 2 Sq. feet:1117

Listing History:
Down 40.4% from $369,000 On 2006-07-08
Down 35.3% from $340,000 On 2006-07-28
Down 31.3% from $320,000 On 2006-08-26
Down 26.4% from $299,000 On 2006-09-30

Previous Sales:
Sold on 2005-03-10 for $343,000

MLS# 60096497 Google Maps
Assessed Value Property Tax Bill


8011 Pony Ct
Sacramento, CA 95830
Total Loss: $120,000Percent Loss: 12.0%
Asking Price: $880,000
Bedrooms:4 Baths: 2 Sq. feet:3037

Listing History:
Down 9.2% from $969,000 On 2006-05-25
Down 16.2% from $1,050,000 On 2006-10-21

Previous Sales:
Sold on 2004-02-06 for $659,000
Sold on 2006-08-31 for $1,000,000

MLS# 60116657 Google Maps
Assessed Value Property Tax Bill


1933 Bastona Dr
Elk Grove, CA 95758
Total Loss: $118,589Percent Loss: 20.9%
Asking Price: $449,900
Bedrooms:5 Baths: 3 Sq. feet:2716

Previous Sales:
Sold on 2004-09-09 for $470,000
Sold on 2006-12-01 for $568,489

MLS# 70005440 Google Maps
Assessed Value Property Tax Bill


9308 Engleside Ct
Elk Grove, CA 95758
Total Loss: $118,500Percent Loss: 21.1%
Asking Price: $444,000
Bedrooms:4 Baths: 3 Sq. feet:2126

Listing History:
Down 18.1% from $542,000 On 2006-06-16
Down 13.8% from $515,000 On 2006-07-15
Down 8.5% from $485,000 On 2006-08-14
Down 6.5% from $475,000 On 2006-09-02
Down 2.4% from $455,000 On 2006-09-16
Down 4.5% from $465,000 On 2006-11-11

Previous Sales:
Sold on 2005-08-15 for $562,500

MLS# 70017968 Google Maps
Assessed Value Property Tax Bill


2434 57th Ave
Sacramento, CA 95822
Total Loss: $117,500Percent Loss: 25.8%
Asking Price: $337,500
Bedrooms:3 Baths: 2 Sq. feet:1432

Listing History:
Down 3.6% from $350,000 On 2006-11-04

Previous Sales:
Sold on 2005-06-22 for $455,000

MLS# 60121688 Google Maps


1939 Richfield Way
Sacramento, CA 95832
Total Loss: $116,000Percent Loss: 25.7%
Asking Price: $335,000
Bedrooms:4 Baths: 2 Sq. feet:1777

Listing History:
Down 30.9% from $485,000 On 2006-08-14
Down 8.2% from $365,000 On 2006-12-02
Down 5.6% from $355,000 On 2006-12-30
Down 2.9% from $345,000 On 2007-01-27

Previous Sales:
Sold on 2005-10-31 for $451,000

MLS# 60088305 Google Maps
Assessed Value Property Tax Bill


9809 Summer Glen Way
Elk Grove, CA 95757
Total Loss: $115,050Percent Loss: 21.5%
Asking Price: $419,950
Bedrooms:4 Baths: 3 Sq. feet:2347

Listing History:
Down 6.7% from $450,000 On 2007-01-06
Down 2.3% from $429,950 On 2007-02-09

Previous Sales:
Sold on 2005-09-26 for $535,000

MLS# 70001307 Google Maps
Assessed Value Property Tax Bill


521 Alcantar Cir
Sacramento, CA 95834
Total Loss: $115,000Percent Loss: 21.9%
Asking Price: $409,000
Bedrooms:5 Baths: 3 Sq. feet:2146

Listing History:
Down 8.9% from $449,000 On 2007-01-20
Down 4.7% from $429,000 On 2007-01-27
Down 2.4% from $419,000 On 2007-02-17

Previous Sales:
Sold on 2005-07-21 for $524,000

MLS# 70004830 Google Maps


3517 19th Ave
Sacramento, CA 95820
Total Loss: $114,000Percent Loss: 32.6%
Asking Price: $236,000
Bedrooms:3 Baths: 1 Sq. feet:1348

Previous Sales:
Sold on 2006-02-14 for $350,000

MLS# 70020263 Google Maps
Assessed Value Property Tax Bill


9351 Lufkin Way
Elk Grove, CA 95758
Total Loss: $112,100Percent Loss: 18.4%
Asking Price: $497,900
Bedrooms:4 Baths: 3 Sq. feet:2652

Previous Sales:
Sold on 2006-02-28 for $610,000

MLS# 70017189 Google Maps
Assessed Value Property Tax Bill


141 Briggs Ranch Dr
Folsom, CA 95630
Total Loss: $111,000Percent Loss: 17.2%
Asking Price: $534,000
Bedrooms:4 Baths: 3 Sq. feet:2020

Listing History:
Down 22.5% from $689,000 On 2006-04-09
Down 9.3% from $589,000 On 2006-09-02

Previous Sales:
Sold on 2005-05-31 for $645,000

MLS# 70024811 Google Maps
Assessed Value Property Tax Bill


7489 24th St
Sacramento, CA 95822
Total Loss: $111,000Percent Loss: 30.8%
Asking Price: $249,000
Bedrooms:4 Baths: 2 Sq. feet:1368

Previous Sales:
Sold on 2004-03-24 for $202,000
Sold on 2005-06-28 for $260,000
Sold on 2005-12-13 for $360,000

MLS# 70020882 Google Maps
Assessed Value Property Tax Bill


950 Ranch Rd
Galt, CA 95632
Total Loss: $110,000Percent Loss: 22.4%
Asking Price: $380,000
Bedrooms:4 Baths: 2 Sq. feet:1999

Listing History:
Down 22.3% from $489,000 On 2006-08-19
Down 4.8% from $399,000 On 2007-01-20

Previous Sales:
Sold on 2004-01-23 for $167,000
Sold on 2004-11-04 for $379,000
Sold on 2005-10-31 for $490,000

MLS# 70005465 Google Maps
Assessed Value Property Tax Bill


8756 Rubystone Ct
Elk Grove, CA 95624
Total Loss: $110,000Percent Loss: 20.2%
Asking Price: $435,000
Bedrooms:3 Baths: 2 Sq. feet:1900

Listing History:
Down 2.2% from $445,000 On 2006-07-28

Previous Sales:
Sold on 2005-12-02 for $545,000

MLS# 60083355 Google Maps
Assessed Value Property Tax Bill


9419 Misty River Way
Elk Grove, CA 95624
Total Loss: $109,000Percent Loss: 21.6%
Asking Price: $396,000
Bedrooms:4 Baths: 2 Sq. feet:2095

Previous Sales:
Sold on 2005-09-15 for $505,000

MLS# 70020392 Google Maps
Assessed Value Property Tax Bill


9649 Darley Way
Elk Grove, CA 95757
Total Loss: $109,000Percent Loss: 19.8%
Asking Price: $441,000
Bedrooms:4 Baths: 3 Sq. feet:2129

Previous Sales:
Sold on 2004-11-15 for $430,000
Sold on 2006-04-28 for $550,000

MLS# 70022052 Google Maps
Assessed Value Property Tax Bill


8873 Boreal Way
Elk Grove, CA 95758
Total Loss: $106,000Percent Loss: 23.6%
Asking Price: $344,000
Bedrooms:4 Baths: 2 Sq. feet:1857

Listing History:
Down 1.4% from $349,000 On 2006-12-30

Previous Sales:
Sold on 2004-11-08 for $359,000
Sold on 2006-09-05 for $450,000

MLS# 60134328 Google Maps
Assessed Value Property Tax Bill


5140 LOCUST Ave
Carmichael, CA 95608
Total Loss: $105,100Percent Loss: 18.6%
Asking Price: $459,900
Bedrooms:4 Baths: 2 Sq. feet:2262

Previous Sales:
Sold on 2005-09-06 for $565,000

MLS# 70023885 Google Maps
Assessed Value Property Tax Bill


7447 Prosperity Ct
Sacramento, CA 95828
Total Loss: $105,000Percent Loss: 28.4%
Asking Price: $265,000
Bedrooms:4 Baths: 2 Sq. feet:1713

Listing History:
Down 31.9% from $389,000 On 2007-01-27
Down 15.6% from $314,000 On 2007-02-03
Down 11.7% from $300,000 On 2007-02-09
Down 3.6% from $275,000 On 2007-02-17

Previous Sales:
Sold on 2005-07-01 for $370,000

MLS# 70007933 Google Maps
Assessed Value Property Tax Bill


9629 Country Falls Ln
Elk Grove, CA 95757
Total Loss: $104,691Percent Loss: 13.7%
Asking Price: $659,000
Bedrooms:6 Baths: 3 Sq. feet:3510

Listing History:
Down 20.1% from $825,000 On 2006-10-14
Down 4.4% from $689,000 On 2007-01-27
Down 2.2% from $674,000 On 2007-02-17

Previous Sales:
Sold on 2005-11-23 for $800,000
Sold on 2006-12-18 for $763,691

MLS# 70009205 Google Maps
Assessed Value Property Tax Bill


2057 Danvers Way
Sacramento, CA 95832
Total Loss: $103,010Percent Loss: 25.2%
Asking Price: $304,990
Bedrooms:3 Baths: 2 Sq. feet:1638

Listing History:
Down 5.0% from $321,000 On 2007-01-20

Previous Sales:
Sold on 2004-12-15 for $332,000
Sold on 2005-08-12 for $408,000

MLS# 70007065 Google Maps
Assessed Value Property Tax Bill


4201 Sunmeadow Dr
Sacramento, CA 95823
Total Loss: $102,500Percent Loss: 21.2%
Asking Price: $382,000
Bedrooms:5 Baths: 3 Sq. feet:2506

Previous Sales:
Sold on 2005-11-02 for $484,500

MLS# 70022292 Google Maps
Assessed Value Property Tax Bill


8243 Scarlet Oak Cir
Citrus Heights, CA 95610
Total Loss: $102,000Percent Loss: 23.4%
Asking Price: $333,000
Bedrooms:4 Baths: 2 Sq. feet:1998

Listing History:
Down 7.5% from $359,950 On 2007-01-20

Previous Sales:
Sold on 2005-10-11 for $435,000

MLS# 70007064 Google Maps
Assessed Value Property Tax Bill


9416 RED SPRUCE Way
Elk Grove, CA 95624
Total Loss: $100,100Percent Loss: 21.1%
Asking Price: $373,900
Bedrooms:4 Baths: 3 Sq. feet:2032

Previous Sales:
Sold on 2005-11-30 for $474,000

MLS# 70024816 Google Maps
Assessed Value Property Tax Bill


153 Biscayne Way
Folsom, CA 95630
Total Loss: $100,000Percent Loss: 14.4%
Asking Price: $594,500
Bedrooms:6 Baths: 3 Sq. feet:2521

Listing History:
Down 8.5% from $650,000 On 2006-12-17

Previous Sales:
Sold on 2005-09-30 for $694,500

MLS# 70017406 Google Maps
Assessed Value Property Tax Bill


2106 Red Robin Ln
Sacramento, CA 95821
Total Loss: $100,050Percent Loss: 28.6%
Asking Price: $249,950
Bedrooms:2 Baths: 1 Sq. feet:810

Listing History:
Down 2.0% from $254,950 On 2006-09-02
Up 0.3% from $249,239 On 2006-11-11

Previous Sales:
Sold on 2004-06-23 for $190,000
Sold on 2006-09-21 for $350,000

MLS# 60098555 Google Maps
Assessed Value Property Tax Bill


8617 Golden Sage Dr
Elk Grove, CA 95624
Total Loss: $100,000Percent Loss: 21.3%
Asking Price: $370,000
Bedrooms:4 Baths: 2 Sq. feet:1848

Listing History:
Down 14.9% from $435,000 On 2006-06-30
Down 11.9% from $420,000 On 2006-09-16
Down 9.8% from $410,000 On 2006-10-07
Down 6.3% from $395,000 On 2006-11-11
Down 3.9% from $385,000 On 2006-12-30

Previous Sales:
Sold on 2006-03-08 for $470,000

MLS# 60112335 Google Maps
Assessed Value Property Tax Bill


5760 Tres Piezas Dr
Sacramento, CA 95835
Total Loss: $100,000Percent Loss: 16.7%
Asking Price: $500,000
Bedrooms:4 Baths: 3 Sq. feet:2618

Previous Sales:
Sold on 2005-06-09 for $457,500
Sold on 2005-10-06 for $600,000

MLS# 60121710 Google Maps
Assessed Value Property Tax Bill


305 LEXINGTON Dr
Folsom, CA 95630
Total Loss: $97,000Percent Loss: 14.4%
Asking Price: $575,000
Bedrooms:5 Baths: 3 Sq. feet:2926

Listing History:
Down 2.7% from $590,900 On 2007-01-20

Previous Sales:
Sold on 2005-10-13 for $672,000

MLS# 70005573 Google Maps


11930 Hobday Rd
Wilton, CA 95693
Total Loss: $95,100Percent Loss: 14.3%
Asking Price: $569,900
Bedrooms:3 Baths: 2 Sq. feet:1746

Listing History:
Down 18.5% from $699,000 On 2006-12-30

Previous Sales:
Sold on 2005-09-28 for $665,000

MLS# 70019922 Google Maps
Assessed Value Property Tax Bill


8237 Summerplace Dr
Citrus Heights, CA 95621
Total Loss: $95,100Percent Loss: 27.2%
Asking Price: $254,900
Bedrooms:3 Baths: 2 Sq. feet:1184

Previous Sales:
Sold on 2005-10-13 for $350,000

MLS# 70021892 Google Maps


3409 Virgo St
Sacramento, CA 95827
Total Loss: $95,000Percent Loss: 27.1%
Asking Price: $255,000
Bedrooms:3 Baths: 2 Sq. feet:1320

Listing History:
Down 1.5% from $259,000 On 2007-03-03

Previous Sales:
Sold on 2005-12-16 for $350,000

MLS# 70011995 Google Maps
Assessed Value Property Tax Bill


7961 53rd Ave
Sacramento, CA 95828
Total Loss: $95,000Percent Loss: 39.6%
Asking Price: $145,000
Bedrooms:2 Baths: 2 Sq. feet:1135

Listing History:
Down 6.5% from $155,000 On 2007-01-20

Previous Sales:
Sold on 2006-06-27 for $240,000

MLS# 70006249 Google Maps


3517 10th Ave
Sacramento, CA 95817
Total Loss: $95,000Percent Loss: 35.8%
Asking Price: $170,000
Bedrooms:2 Baths: 1 Sq. feet:918

Previous Sales:
Sold on 2005-10-14 for $265,000

MLS# 70023853 Google Maps
Assessed Value Property Tax Bill


70 Nutwood Cir
Sacramento, CA 95833
Total Loss: $94,100Percent Loss: 25.5%
Asking Price: $274,900
Bedrooms:3 Baths: 2 Sq. feet:1344

Listing History:
Down 5.2% from $289,900 On 2007-02-17

Previous Sales:
Sold on 2006-02-28 for $369,000

MLS# 70016918 Google Maps
Assessed Value Property Tax Bill


261 Anjou Cir
Sacramento, CA 95835
Total Loss: $92,100Percent Loss: 17.6%
Asking Price: $429,900
Bedrooms:3 Baths: 2 Sq. feet:2187

Listing History:
Down 4.4% from $449,900 On 2006-12-23
Down 2.3% from $439,900 On 2007-01-27

Previous Sales:
Sold on 2005-07-18 for $522,000

MLS# 70022624 Google Maps
Assessed Value Property Tax Bill


3412 San Carlos Way
Sacramento, CA 95817
Total Loss: $90,100Percent Loss: 32.2%
Asking Price: $189,900
Bedrooms:3 Baths: 1 Sq. feet:1594

Previous Sales:
Sold on 2006-04-13 for $280,000

MLS# 70022674 Google Maps
Assessed Value Property Tax Bill


210 Eastbrook Cir
Sacramento, CA 95835
Total Loss: $90,001Percent Loss: 17.3%
Asking Price: $429,999
Bedrooms:3 Baths: 2 Sq. feet:2407

Previous Sales:
Sold on 2005-10-14 for $520,000

MLS# 70025022 Google Maps
Assessed Value Property Tax Bill


5004 Lent Ct
Elk Grove, CA 95758
Total Loss: $89,100Percent Loss: 23.5%
Asking Price: $289,900
Bedrooms:3 Baths: 2 Sq. feet:1334

Previous Sales:
Sold on 2004-12-23 for $360,000
Sold on 2006-03-02 for $379,000

MLS# 70024301 Google Maps
Assessed Value Property Tax Bill

Total 714 in Sacramento County

7 comments :

Perfect Storm said...

714 FIT's what a bunch of losers. I mean dang, they must of had shxx for brains to buy in this market. What in the hell were they thinking, did they just not see the cliff coming. Oh my god this is going to end very badly.

Oh well what are you going do.

Got popcorn?

Anonymous said...

The 714 FITs total is for Sacramento County, up from 665 last week. That is an increase of 7.3% for the week.

The four county total for FITs is 946, up from 891 last week. That is a 6.2% increase.

It just keeps escalating at a very high rate. I thought you were joking when you said we would see 1200 FITs by mid summer, but at a 5% weekly increase, we will see 1200 FITs by mid April.

This is not good.

Perfect Storm said...

If it hits 3000 in a year I would not be suprised. Look at all the real estate jobs that are going to tank and you have 80% of your FIT's. If sells drop to half and subprime is destroyed that is a lot of jobs. They weren't worth anything to society in the first place. Carnival barkers carry more salt.

Anonymous said...

JFTHOI, I was looking at the Locust Ave FIT. It is already a repo.

You may be already reporting a combination of FITs and REPOs.

Why is that important? cause that means that the FIT numbers here are not just investors, but also buyers who got in trouble and already lost their homes to the bank - people who didn't intend to flip, just got caught in the economy or the payment overwhelmed them.

Is this a fluke or is the data mixed?

Josh said...

Is this a fluke or is the data mixed?

It's just related to how I define a "flipper". I have no way of knowing what the true problems were behind the loss, so I define a flipper house as one that is being sold now for less than it was bought within the last two years.

You are correct in pointing out that REO might begin showing up here if the repos are recorded as "sales" in the county records and then listed in the MLS. I know some counties record repos differently, so I'm not sure how this scenario will play out.

Anonymous said...

Max and Sippin,

I've been seeing Bank-Owned prices already way over comps. Until the banks finally swallow the pill and price accordingly, that standing inventory is going to hurt - or they'll just find another way to book it as "profit" on the balance sheet.

Wadin' In said...

There is some irony for you: A bank forecloses for the loan amount, and when the agent recommends a listed price, it is already below the foreclosure price.

By way of example, take 5140 Locust Ave. Countrywide lend a $565,000 sub prime 100% loan (80/20) in August of 2005 (18 months ago). The Bank of NY is the bag holder (or possibly the servicer or trustee) and took back the asset.

The listing is held by Lyon Real Estate and the agent feels the listing price should be $459,000 for this 2200 SF house. That is a $106,000 reduction or 18.7% in 18 months. A 1% reduction per month in value seems about right to me. Another 24 months and I might buy at a 42% discount. And who knows at what price this house will really bring? And the bank will net much less.

It seems to be getting a bit difficult out there, considering the financing that allowed the FB to buy this house no longer exists. Whoever buys the house this time will need some cash to put down. That indicates the buyer will require a little self-discipline and ...a budget.

A budget....that says it all. The end.