patrick.net

Oh, yeah... good catch. An owed amount of almost 1.1M and a listing price of 575K... no wonder it's bank owned. lol

My estimate of the actual worth would be $500K, but I'm sure someone will eventually snag this for at least asking price.

When the bank took my home back, the REO went in as a sale price (PAYOFF amount) the next sale price will be more in line with trend line (have any of you drawn a trend line in your local area from say 1970 until say 1995 and then just keep that SLOPE going and you will find that trend line and it is about 20-30% lower then the trend line drawn if you drew your trend line to include 2002 that trend line would point TOO high) the 15-20 year trend line is more in line with REAL VALUES (1970-1995) the reason I mention that idea to do, I hope some of you do it, it is easy... anyway with even professionals always saying WELL IT SOLD FOR X at the PEAK, and or it was once worth X that is about as relevant as if it was given away for free once just because something sold or was free MEANS ZERO it is the hardest thing to remember, WHAT IT ONCE SOLD FOR MEANS NOTHING ABOUT TODAYS VALUE. It might have been one dollar, and or a million. it is worth what it is worth in today's market. Trend Line from 1970-1995 will HELP with a TARGET AREA OF but again it is only worth what it worth today, regardless of history even, but it can help to Give a TARGET. The Trend line might too high in today's market, I think in Ca. we are going to have a reversal of trend lines (pointing slightly down for the 15 years)