Thursday, January 1, 2009

Betty's Bunker: UPDATE

Hat tip to the eagle-eyed Morekaos in the Irvine Housing Blog Forums who noticed the ghoulish Betty's Bunker just dropped its price to $650,000.

If you recall, in the original post I included some guesses as to where the architectural inspiration stemmed from:

For those keeping score at home, the price reductions have progressed as follows:

Oct 05, 2008 Listed $1,035,000
Nov 19, 2008 Price Changed $739,000
Dec 22, 2008 Price Changed $650,000

A total of $385,000 in price reductions in just TWO MONTHS! Delusion didn't last long with these folks.

And by the way, the new asking price is $190,000 cheaper than the least expensive nearby property. This thing must be a real shit hole.

You'll notice they added "Priced accordingly to reflect condition. Property needs upgrading" to the description, likely an attempt to lower expectations in response to the projectile vomiting they've encountered when showing the property.

Anyone think this will see sub-$200 per square foot before it's all over?

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