Purchased for $1,750,000 in May of 2004, 10 Fernwood Drive in Monterey Heights returned to the market almost four months ago asking the same.
Three months ago the list price was reduced to $1,650,000 where it currently stands after having been reduced down to as low as $1,550,000 for a period in between. Still available and advertising “Pre-Foreclosure Opportunity.”
Bets as to whether or not the sale of this “apple” will tell a very different story about what’s happening in this market with respect to appreciation (or rather depreciation) versus the trends in median sales price and average dollars per square foot for sold properties in District 4 over the past four years?
∙ Listing: 10 Fernwood Drive (4/3.5) – $1,650,000 [MLS]