OK, so in March I was amazed at how much similar houses to what I owned in the Horsethief Canyon Area in Corona, California were priced compared to where I had seen them in the beginning of 2007 (you can see my post here – A Reality Check to the Severity of the Housing Market Crash).
As a recap here is the price fluctuation up to March of 2008 for similar houses to the 1991 built, 1439sqft, 3bdrm, 2.5 bath house that I had.
- 5/2001 – bought house for $178,000
- 5/2003 – Sold house for $252,000
- 2/2007 – similar houses (same floor plan) peak at $440,000
- 3/2008 – Similar house selling for $249,000
Today I checked the same houses, same neighborhood and they are now at $199,000. Sadly if someone bought one of these houses 3 months ago it is has already lost $50,000 in equity.
Sad, very sad.
Technorati Tags: California Housing Market,Housing Market,Housing Market Crash,Mortage Bailout
