Bank took this Condo back for $232K, now you can have it for $75K.

Wednesday, July 16, 2008 8:57 AM From: "EdTseng" exxxxxx@yahoo.com To: "m"M@XXXbank.com

My dear XXXXX,   This is a REO property in California, close to ocean.  The city is a nice and safe place to live, with 5 percent of African American, 4% of Asian residents.  For your reference, enclosed herewith is the city's data web link: http://www.city-data.com/   The subject property was sold for $390K, its peak price on May 19, 2006.  It was forclosed for $ 232,000 in August 2007.  However, Zillow.com has a recent estimate of $292,500.   Now, you can have it for less than $ 75,000, that means you pay 20 cents for a dollar.  Two pennies for your thoughts. ET          The subject Property:   This Condominium has 4 bedrooms, 2 full bathrooms and approximately 1320 sqft. XXXX MXXXX Ave., XXXXXX, CA  4 beds, 2.0 baths, 1,320 sq ft Recently Sold: $232,000 Zestimate: $292,500 30-day change: -$20,000 Value Range: $184,275 - $298,350 Last updated: 07/14/2008 Sales History Sale History & Tax Info Sale History 08/16/2007: $232,000 * 05/19/2006: $389,000 03/24/1994: $112,000 No other sale data is available Market Value Change   II.  Currently local listings in the same condo complex:  (A) New this week! $98,500 XXXX N MAXXXXA AV #A 2 Bed, 1.5 Bath 960 Sq. Ft. Estimated Payment: $480 Per Month*       (B) XXXX N MaXXXXa Ave UNIT F, XXXXX, 3 beds, 2.0 baths, 1320 sq ft For Sale: $365,000   Listing partner provided image     XXXXX MaXXXra Avenue, XXXXXX, CA Seller Facts: Condo 3 beds 2.0 bath 1320 sqft Seller's Description Make this home yours today! This home offers you a great floorplan with inside laundry and a full bathroom downstairs. There is lots of room for storage and is in immaculate condition.   Part II:   Bank took this SFR back for $242K in other city, also very close to pacific ocean.  Now you can have it for under $55K. The following property was foreclosed for $ 242K in October 2007.  It was sold for $300K in November 2005.   Now you can have it for $ 50K.   Today, do you like to pay a price lower than 10 years ago?  Think you are lucky to pay 15 cent on a dollar of its peak price in 2006?        Address: 1x3 XXth St., XXXXXXXXX, CA          Recent comparable sales Sold 10/12/2007: $330,000 1xxx N El Cxxxxxxo Ave Sold 05/01/2008: $185,500 8xx Oxxxxy Dr Sold 05/02/2008: $280,000 4xx0 N xxxth St Sold 05/30/2008: $152,500 5xx9 Cxxxxxr Ave   123 S 6th St XXXXXXXXX, CA 9XXXX Public Facts: Single family 3 beds 1.0 bath 1,019 sqft Lot 7,405 sqft Built in 1935 Recently Sold: $242,366 Zestimate Information Zestimate: $225,000 30-day change: $1,500 Value Range: $155,250 - $252,000 Last updated: 07/14/2008        Sales History   10/30/2007: $242,366 * 11/17/2005: $309,000 11/30/2000: $78,500 No other sale data is available