by Calculated Risk on 5/04/2008 11:06:00 PM

For those that missed it: In 2005, when the median house price in Orange County reached $603 thousand, the O.C. Register featured a house on the front page that had recently sold for $600 thousand. That house is now listed as a short sale for $439 thousand.

See: From Front Page to Short Sale

Note: the graph was made when the asking price was $559K, but the price was dropped to $439K on Saturday!). The graph shows how much further prices will probably decline in Orange County, CA.

Here is the July 2005 front page of the O.C. Register.

Here is the Redfin listing (see the 405 Freeway sign in the background).