Posted by: mikewochner | March 25, 2009

Bank Owned REO Lakefront Continues to Drop Price

REO Bank Owned Lakefront on Lagunita

This Countrywide bank owned property dropped their price today to $902,900.  I wrote about the property back in October of 2008 (click here to see the article) when they first put it up for sale.  Here’s the price reductions and dates they dropped the price:

  • October 12, 2008:  $1,250,000
  • December 02, 2008:  $1,200,000
  • December 22, 2008:  $1,170,000
  • January 13, 2009:  $999,900
  • February 09, 2009:  $969,900
  • March 5, 2009:  $934,900
  • March 24, 2009:  $902,900

Carnac the Magnificent

I’m going out on a limb here……….I would guess the next price reduction will be April 20th and the price will be $869,900.  I’m no where near as accurate as “Carnac the Magnificent” of the Tonight Show…but check back to see how far off I am. 

Or if you’d like to make a guess, write it in the response area below and we’ll see who’s closest!

UPDATE:  NO PRICE REDUCTION NEEDED….THIS PROPERTY WENT INTO ESCROW TODAY (APRIL 1, AND NO THAT’S NOT AN APRIL FOOLS JOKE).  I’LL LET YOU KNOW WHEN IT CLOSES AND FOR HOW MUCH.



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