Casablanca sale...not a short sale

A Casablanca in La Gorce sold on 12/15 for $248,000 in a cash sale. The home was on the market less than 90 days and sold at an $11,900 discount to asking price ($259,900).

The seller was the original owner who purchased the home in November of 1996 for $151,700.

Sold, Casablanca short sale

A Casablanca short sale, with a pool on the lake, in Las Colinas, sold after 293 days on the market. The reported selling price was $240,000.

Now here's a good barometer of what has happened in the market...the sellers purchased this home 40 months ago for $470,000. A decline of 49%...in a little over 3 years...or 1.2% per month. In actuality, the decline was not straight-line...during 2006 the values did not decline much, but begining in early 2007 the speed of the decline increased.

Under Contract...Not a short sale or foreclosure

A Casablanca in La Gorce, being sold by the original owner, just went under contract. The home was listed at $259,900. It was on the market only 11 days.