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This youtube shows how varied the comps can be in this market. A large, one-story home with ocean view out the back can sell for a premium, and across the street a two-story short sale get dumped for almost a half-million less, all within a month of each other.

The short sale listed for $1,795,000 in December, 2009, and was down to $1,399,000 in August when the seller dropped the list price down to $1,000,000 – it closed for $1,061,000:

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