Sale History
12/13/2007:	$184,417 *
11/08/2005:	$272,000
01/25/2005:	$140,000

From the above info, 10 years ago this house is valued at $70,000.  Its Peak sold price was $272K in November 2005.  9 months ago, a bank took it back for $184K.

Recently the listing price was $71K (Note: the above listing at Zillow.com as of August 22, 2008) and reduced to $54K (see below).  It is reducing, reducing, and finally falling apart...  

$54,000 1**1 ********* Ave ******** California, 9****	MLS #: 40*****5	Beds: 2 Baths: 2 Sq Ft: 894

Try harder and harder, please (Note: as an investor, I have ample time to wait).  Now, everybody almost finished their hard works and tired (satisfied?).  A realistic price tag is finally on the auction table.  How much they would get for?

Down to ask for $1,000.  After all the hard works done by the banker, asset manager, and agents in the past 9 month, do you expect all of them possibly get just a thousand dollar out of it?   See, how good our traditional marketing channels can do the job? 

Don't say it is a waste time!  Look at a bright and broader view, it is a job-creating so that everyone can be busy and earn some money to put bread on the table.  So it is a MacroEconomics.  Who cares about national productivity, right?   

How much do you think you "will" buy it?   You are not serious to expect a final price omitting the two "0" at the end of its previous sold price, aren't you? 

If not, you are too kind to be greedy, for I know you may be wrong.  Look at stock market, as of August 22, our two big GSE Fannie and Freddie lost their stock value more than 90-96 percent in a year.  Don't you think it could happen in real estate?  Why not?

Yesterday I watched PBS TV on Californian Education Review.  It was said that California education, particularly the infrastructure, has been deteriorating to follow Michigan and Ohio.  But it is still incredible for me to think the housing market will follow the shoe.  Gee, I shouldn't watch the TV program.

I know this site very well.  It is a dame serious auction with no tricks, not like R**** or other W**** auctions that play buyers around.  

One thing I am 100 percent sure is this house will be sold less than its sold price 10 years ago.   It would not surprise me that it might be sold for less than $5K.  

Let see the result in a few days.