Profile picture for klarek the realist

Deutsche Bank Throws in the Towel

I don't know if this is a typo in the MLS, but the house has been on the market since May.

1926 WILLOW LN
WOODBRIDGE, VA 22191
List Price: $115,000
Prior Sale: $315,000 4/25/2005
Listing Date: 04/21/07
-63.5%

Price Reduced: 05/23/07 -- $339,900 to $319,900
Price Reduced: 06/20/07 -- $319,900 to $289,900
Price Reduced: 07/19/07 -- $289,900 to $278,900
Price Reduced: 09/13/07 -- $278,900 to $249,900
Price Reduced: 10/19/07 -- $249,900 to $239,900
Price Reduced: 11/19/07 -- $239,900 to $115,000

http://novabubblefallout.blogspot.com/2007/11/deutsche-bank-throws-in-towel.html
  • November 21 2007 - US
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (17)

We have some REOs out here like that too. It's shocking to see those prices again.
  • November 21 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for klarek the realist
You couldn't get a 1BR condo in this area for twice that a few years ago. Amazing.
  • November 21 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Aldreth
Just wait, its going to get much worse.
  • November 21 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Now, that is what I call yolk. 8)
  • November 21 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Mike2020
Sold 01/29/2007:
$268,387


Flips Gone Bad...

HAHA Check out the picture of that house. The fool who thought he could flip that hunk of junk was worth 315K was a total moron..
  • November 21 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for BrassMonkey
It is just a matter of time until other banks realize they have to do something to get rid of inventory!
  • November 21 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

That's a hell of drop in price.
  • November 21 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for caballosnegros
Check out the BBC articl of WHERE Deutche Bank had their sub primes located-
  • November 21 2007
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for kelargo
  • July 31 2008
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Valhakar

Who the hell would invest in "Hood"bridge?  I was in Reston and I would look at that place and go, "wow what a ****ing pit".

  • July 31 2008
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for space_acer

Whats so shocking about the declines....

1926 Willow Ln Woodbridge VA 22191 3 beds, 1.5 baths, 1,380 sq ft
Close Recently Sold: $150,000

 

http://www.zillow.com/Charts.htm?chartDuration=10years&zpid=12466641

 

12/17/2007: $150,000
01/29/2007: $268,387 
04/25/2005: $315,000

Lets look over the 10 year graph... Plarusa are you getting this?

 

This home was worth less than 100K in 1998 .. add inflation or so 30%

so $130K would be reasonable... so what did it sell at...  $150K

 

So as you can see what a home sold for 10 years ago before the bubble

plus inflation is important measure of price.

 

 

 

 

 

  • July 31 2008
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Valhakar

Good measure Space-acer, but the DC metro market is a specialty market.  That market now stretches from Baltamore, to Richmond VA, and west to Winchester West Virginia.  You have fairly ignorant untrained people that are working and double or even tripple dipping into federal pensions.  Too much money, not enough intelligence.  While this is not everyone in the area, there is enough stupid unchecked money to skew property inflation rates.  This applies to all property.  I am in AZ and I pick up cars at estate sales, ship them back there, and turn 60-90% profit after taxes and shipping.  You just have to pick the cars the morons think are "excelent". 

 

'There is no fix for the housing crisis, "You can't fix stupid" - Tater Salad'

 

Cheers,

Valhakar

  • July 31 2008
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for mrfnuts

Valhakar,

 

Out of curiosity, what kind of cars are you finding at those estate sales?

 

 

 

 

  • July 31 2008
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Rob Cochems

$115k for home???  What is the rent out there?

  • July 31 2008
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for mickee

$150K for a dilapidated house, I wont buy that even if its in CA. Well, maybe ..... but where do I park?

  • July 31 2008
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for Valhakar

Mickee, the house is in Virginia.  South of D.C. and Arlington in a really nasty area.  Considering that the 27 year old dilapitated townhouse I was renting sold for 315 and is ONLY down to 212K, that is a huge steal. 

 

Rob, the townhouse I was in had no covered parking, my new WRX sat under a 100 foot tall tree.   No yard, 1000 sq feet split over 2 floors and a basement.  MS13 was trying to move into the area, established "residents" were fighting back.  There was a run down apartment complex 1/4 mile away. $1,322 a month, the thing is that was a STEAL.  It was 500 yards from a major bus line, walking distance to shopping, and 3 blocks from the Dulles Tollway.  My wife found it when she was on her own.  We moved out of that to AZ where I am now.

 

Mr Fnuts, the cars that sell well are GM sedans and sports cars, Anything Subaru (because DC gets sooooo much snow :x ), Anything that gets less than 12 MPG highway.  I try and stay in the 4-8 year range.  Too old for a new note, too new to be ignored by my typical buyer.  I have stopped doing this as the fuel prices settle in.  If the demogrpahic goes back to the 80s approach, I will start buying the tricked out mini-trucks that are all over Phoenix and ship them back.  :-D

 

 

  • July 31 2008
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for space_acer

Take a look at the prices at Austell Georgia... you will find great looking homes in that price range.  And a key is cities like Austell never saw huge price swings compare to other regions. 

  • July 31 2008
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.