Previous Purchase: 6/10/05 - $900,000
Listing History: 8/9/11 - $739,000
SOLD: 9/23/11 - $675,000
As I said last time: this is deeper than most rollbacks we have been seeing -- but a big reason for that is that the location is a little challenged and the house is small and funky. And as dwr mentioned, there are renters in there right now.
And it looks like I wasn't too far off with what I said about valuation: Looking back to the purchase prior to the one in 2005, we see this property sold for $385k on 12/14/00. My 3% inflation + 1% premium compound growth rate brings fair value to around $600k + any improvements.
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