Mission SFH At 16%-Off The 2007 Sale Price

“34463 ROCKRIDGE PL, Mission
2165sqft SFH on 7212sqft lot.
Now on the market:
04-Jul-12 $469,900.00
28-Jul-12 $464,900.00 -2%
01-Aug-12 $459,900.00 -3%
03-Aug-12 $458,900.00 -3%
09-Aug-12 $457,900.00 -3%
10-Aug-12 $456,900.00 -3%
15-Aug-12 $455,900.00 -3%
17-Aug-12 $454,900.00 -4%
23-Aug-12 $453,900.00 -4%
25-Aug-12 $452,900.00 -4%
31-Aug-12 $451,900.00 -4%
02-Sep-12 $450,900.00 -5%
07-Sep-12 $449,900.00 -5%

This home was purchased in 2007 for $540,000!
Thats 16% below the 2007 price!”

Groundhog at VCI 15 Sep 2012 11:24am

14 responses to “Mission SFH At 16%-Off The 2007 Sale Price

  1. It’s a good thing that no one ever loses money in real estate. It’s a sure bet.

    I feel bad for the family tho

    • Why do you feel bad for the family? Would you feel bad for them if they were selling a used car for less than the original price?

  2. Ha, using price changes to create a faux Dutch Auction.

    • Nothing really faux about it. It’s a dutch auction, straight up. I sold an older Buick like this last year — think reliable transport, not classic car. I started quite high, as there’s no sense running a Dutch auction starting at the price you think you’ll get.

      I got several lowball offers, one or two of which ended up being above what it eventually sold for. Now a vague offer via email isn’t exactly bankable, but it made me wonder if I could have in fact maximized the price by asking far more than it was worth, then selling it to some lowball artist at 30% off.

      The key is that potential bidders must be worried about other potential bidders beating them to it. Doesn’t work too well in a slow market.

    • Dutch Auction? More like Death of a Thousand Cuts…

  3. “Look honey, that house we were looking at is reduced $1,000. We can afford it now!”
    “No, honey, let’s wait, I have a feeling it will be even cheaper tomorrow.”
    I saw a house on my street do that last year, they reduced it by a couple grand every couple of weeks.

  4. Half a million dollars for a place in Mission?? What on earth were they thinking when they lept in?

    • Overpriced by 280k…. Depths of Mission. Cheap crappy fixutures, oriented strand board special. $169,900

      Take it down 1 thousand a week for the next five years. then they’ll clue in that it isnt that different in a remote hillbilly location hours from civilization. And youre still living on the outskirts of a provincial town, in the middle of a rainforest, in the middle of nowhere with no head offices.

      • Cranston Snord

        >And youre still living on the outskirts of a provincial town, in the middle of a rainforest, in the middle of nowhere with no head offices.

        It’s pronounced “World Class City” luv.

        You’re welcome 😛

  5. world class?..LMFAO… perhaps compared to Reguna…LOL
    delusion in aisle 5

  6. What a waste of time – it’s taken the owners the entire summer to reduce the price by 4%! Really unbelievable!

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