No longer on the market

A Saporro in Oakmont that has been on the market for 1 year has "expired".

A curious pricing strategy was employed here: The home was placed on the market at $295,000 in October 2008...in December 2008 the price was reduced to $235,000...in January 2009 the price was raised to $295,000 then in February 2009 the price was raised again to $325,000 where it remained until the listing agreement expired without the home selling.

Sold, Venice in Oakmont

Interesting sale here...the sellers purchased this home on March 24, 2009 for $275,000 and put down 20%. They put the home back on the market on September 17th, 2009 at $300,000.

The home just sold for $290,000 to a cash buyer. After all of the closing costs both in the purchase and the sale, the sellers probably lost $20,000 or so...not too bad, really, when you consider what has happened to the market in general.

Again, this backs up my hypothesis that homes that ARE NOT distressed sales (short sales or bank owned), are selling very well, holding their value well and selling quickly.

Venice...under contract...Oakmont

A Venice in Oakmont Village just went under contract. As you can probably see from the photo, it was on a reverse-pie-shaped lot, on the lake with a screened patio. The home was NOT a short sale and was listed at $300,000 at the time of contract.

The current owners purchased the home for $275,000 in March of 2009 but financed only $220,000.