I last featured 3409 Pearl back in January 2010.I suggest going back to the very original post on this property for some more commentary from various readers on their opinions of the location, etc...
Previous Purchases:
| 03/03/2008: | $1,055,000 |
|---|---|
| 12/16/2005: | $845,000 |
| 12/12/2003: | $655,000 |
Listing History: 6/23/09 - $1,149,000
Reduced several times to - $799,000
SOLD: 4/22/10 - $808,000
The upgrades to this property were done before the 2008 purchase. So this short sale which just went through represents a 23.4% decline from the 2008 purchase and is essentially a mid 2005 rollback with the upgrades thrown in for free (so maybe that is something like a late 2004 rollback on an adjusted basis?).
The last bubble in the 90s took 6 years to go from peak to trough. That bubble was MUCH smaller, and there was no corresponding financial crisis.
ReplyDeleteWe're in year 3. We're a long way from the trough. Example after example keeps showing this. Build your warchest and be ready for 2015.