Monday, May 21, 2018

Ten Years Ago: Looking back at a Foreclosure

by Bill McBride on 5/21/2018 02:55:00 PM

Ten years ago today, I wrote House Price Mosaic. This was a discussion of how areas with significant foreclosure activity were seeing larger price declines (as expected).

In the post, I mentioned a foreclosure that Jim the Realtor had listed for sale at 260 Securidad St in Oceanside, CA.

For fun, I took a look at that house.

The house had sold for $318,000 in July 2004, and according to Jim, the owner refinanced a year later for a total of $375,000 in loans.

The house sold for $140,000 in June 2008 at foreclosure.

Now the house would probably sell for double the foreclosure price.    That is a crazy ride.