The Market Has Changed

Back in July of 2006, I wrote a post about "Square Footage Question - Vindication!!!". My issue with the home discussed in the post was the fact that the home sellers had converted the garage into living space and did not have the proper permits. The biggest problem I saw was the fact that the seller said the house was 1900 square feet, while public records said the house was 1450 square feet. Clearly, the home seller was claiming the newly converted garage as living space - which for practical purposes was probably right. However, the county records still said 1450 square feet.

Back then, the home was listed for $999,999. At the time, I thought the home was overpriced. The sellers had purchased the home for about $200K less about 18 months prior. The house didn't look especially updated.

Fast forward to 2 months ago - I saw the house for sale again. This time, it was listed for $769,000 and it was owned by the bank. The home ended up selling for $818K. I guess the previous owner was foreclosed on. $818K seems about right.