Monterey Village Price Drops

As reported here earlier, a group of speculators has purchased the unfinished development abandoned during the Dunmore Homes bankruptcy, and are now probably trying to fund the completion of the unfinished units using proceeds from the sales of the complete ones. Looks like they're discovering reality, as they've lowered the asking price on their units by about 17% with only 3 weeks on the market. That's still 30% more than an REO on the same street, so I bet they drop their prices a bit more before they sell:

5204 Ocean Ln Elk Grove, CA 95757

Asking Price: $264,000 Bedrooms:3 Baths: 2 Sq. feet:1825 Last Listing Date: 2009-02-14 Listing History: Down 16.2% from $315,000 On 2009-01-24 True days on market: 25 # of Times Listed: 1 Previous Sales: MLS# 90006564 Google Maps Assessed Value Property Tax Bill

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5105 Ocean Ln Elk Grove, CA 95757

Asking Price: $259,000 Bedrooms:3 Baths: 2 Sq. feet:1825 Last Listing Date: 2009-02-14 Listing History: Down 17.1% from $312,500 On 2009-01-24 True days on market: 25 # of Times Listed: 1 Previous Sales: MLS# 90006299 Google Maps Assessed Value Property Tax Bill

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5020 Ocean Ln Elk Grove, CA 95757

Asking Price: $247,000 Bedrooms:3 Baths: 2 Sq. feet:1711 Last Listing Date: 2009-02-14 Listing History: Down 9.2% from $272,000 On 2009-01-24 True days on market: 25 # of Times Listed: 1 Previous Sales: MLS# 90006569 Google Maps Assessed Value Property Tax Bill

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5213 Ocean Ln Elk Grove, CA 95757

Asking Price: $224,000 Bedrooms:3 Baths: 2 Sq. feet:1425 Last Listing Date: 2009-02-14 Listing History: Down 18.2% from $274,000 On 2009-01-24 True days on market: 25 # of Times Listed: 1 Previous Sales: MLS# 90006307 Google Maps Assessed Value Property Tax Bill

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4912 Ocean Ln Elk Grove, CA 95757

Total Loss: $166,500 Percent Loss: 46.8% Asking Price: $189,000 Bedrooms:3 Baths: 2 Sq. feet:1638 Last Listing Date: 2009-02-14 Listing History: Down 16.3% from $225,900 On 2009-01-10 True days on market: 39 # of Times Listed: 1 Previous Sales: Sold on 2007-05-30 for $355,500 MLS# 90001584 Google Maps Assessed Value Property Tax Bill

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5200 Ocean Ln Elk Grove, CA 95757

Asking Price: $299,000 Bedrooms:4 Baths: 2 Sq. feet:2119 Last Listing Date: 2009-02-07 Listing History: Down 12.6% from $342,000 On 2009-01-24 True days on market: 25 # of Times Listed: 1 Previous Sales: MLS# 90006558 Google Maps Assessed Value Property Tax Bill

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