Monday, February 22, 2010

Condo in Orange sells for half of peak price

The Orange County Register reports:
“I walk, walk, walk,” said Hoskey, 38, a recently divorced mother of two. “There’s no restaurant I can’t walk to.”

Hoskey decided to buy a home after her divorce so she’d have a place of her own. She made an offer on the first unit she saw, a 735-square-foot one-bedroom condo around the corner from The Village at Orange mall.

She offered to pay $120,000 for a foreclosed unit. Four years earlier, a previous owner had paid $242,000.
Just think, a few years ago the National Association of Realtors their was never a bad time to buy real estate.