Pecos...under contract

A home on C. Durham that I believe is a Pecos model by looking at the aerial, just went under contract.

The home was originally listed at $379,000 in April of this year but was priced at $355k when it went under contract.

The sellers, who are the original owners, purchased the home for $212,000 in May of 2005.

Bank-Owned sale

A bank-owned Santa Fe model at 6242 C Durham just sold for $275,000.

The property went back to the bank on May 28th after foreclosing on the previous owner, who paid $525,000 for the home in September of 2005.

It took the bank over 2 months to get the home back on the market. Once they finally got it on the market, it was priced at $294,900 and went under contract in just over a month.

Journeys End, Taos...Sold...Finally!

A Taos on C Durham, mentioned several times already in this blog as being under contract and falling out of contract, has finally sold at $325,000.

This home had been on the market for 419 days! It was originally placed on the market by the current agent at $590,000...It is just this bloggers opinion that this short sale could possibly have been avoided had the home been priced properly when it was first placed on the market in June of '07...but it did not sell with the $590,000 price tag. Then the owner rented it for a year...all the while the market was continuing its tailspin...this owner lost about 2% of the homes value every month it was rented! It was then placed back on the market, as a short sale, in July of 2008, for $419,000. And as you see here, it eventually sold for $325,000 in September of 2009.