Friday, June 08, 2007

Stockton is Crashing Hard

Found this short sale property on CL:

10437 Tank House Dr, Stockton, CA 95209 5 beds, 3.0 baths, 3,201 sq ft
Asking Price: $540K

"SELLERS ARE HIGHLY MOTIVATED!!!10437 Tank House Ct., Stockton, CA Great opportunity! 5 bedrooms, 3.5 baths, 3 car garage, cherry wood floors, plush carpets, custom paint, vaulted ceilings, jack & jill shower and jacuzzi tub in master suite, tile in bathrooms, landscaped backyard with water fountains,community pool, all in a gated community. Close to golf course and more!!"

Wanting to know how much the owner might have paid to end up in short sale, I went on Zillow.com and found this other home right next door with the same square footage.

10837 Tank House Dr, Stockton, CA 95209 4 beds, 2.5 baths, 3,160 sq ft

was sold on 09/20/2006 for $750,000. So for less than 9 months, it probably has lost $210K or roughly 30%. A-ha!!


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