Catching Knife in Sacramento Housing

Here's the potential loss you need to prepare for in order to speculate on Sacramento housing:

**GREAT CHANCE TO OWN A SPACIOUSE DREAM HOME**:
"$749900 **GREAT CHANCE TO OWN A SPACIOUSE DREAM HOME** Reply to: ryanschattner@gmail.com Date: 2007-11-15, 8:46AM PST Here is your chance. Large single story ideal for day to day living or elegant entertaining. Priv. bath for every bedroom. Spacious wet bar with wine cab. that looks into a large living area next to the kitchen. Large yard with plenty of room for pool. Motor court gives access to split 2car gr. *Bank Owned*

http://www.zillow.com/HomeDetails.htm?zprop=63421325
Sold 07/11/2007: $855,000

That means a loss of $100K+ in just 4 months. Assuming a down payment of $170K (I doubt it but just use it for the bottomline), that's 60% loss.