Another new listing, a short sale, popped up on the ER golf course yesterday, and while it seems we’re spending an inordinate amount of time in the ‘hood, it makes for a good example of what could be brewing on a street or area near you.

As a homebuyer, when you see FIVE distressed properties on the market at virtually the same time, does that make you want to step up, or back off?

Especially when you see a mix like this:

REO or SS Street Sq. Ft. Previous Sale List Price Status
REO Spanish 4,237sf $1.535 8/04 $989,100 CONT
SS Cypress 4,612sf $1.069 8/03 $995,000 CONT
REO Paseo 4,318sf $1.780 4/04 $1,196,800 ACT
SS Cypress 4,294sf $1.600 5/05 $1,200,000 ACT
REO Paseo 5,177sf $1.950 6/04 $1,255,900 SOLD 10/10/09 $1,256,000

CONT = Offer(s) in, contingent on bank approval

The $200,000+ variance in the list prices doesn’t help, and with four left to choose from, which one do you pick? Or does the market freeze up?

Here’s the latest video:

Happy Halloween!

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