Friday, December 23, 2005

History of 0143 Egdnir Lane

In my posts that feature specific properties, I scramble the address to protect the guilty.

This lot had one of those older, smaller 2 bed/1 bath homes. In November 2000, the owners sold out to a bubble builder for $255,000. In December 2002, the newly minted bubble was sold for $840,000. The property recently listed in October for $1,399,000, but has been reduced to $1,349,000. There is nothing particularly unusual about marking it down for so paltry an amount (-3.6%), as markdowns of 5%-7% have been pretty common around here for years.

If the owners manage to get that price, that's more than a 60% gain in 3 years. Update 01/20/2006: The listing expired at Zip Realty. The sign is still up.


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