{"id":12736,"date":"2010-10-04T09:17:12","date_gmt":"2010-10-04T16:17:12","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=12736"},"modified":"2010-10-05T09:04:04","modified_gmt":"2010-10-05T16:04:04","slug":"whats-the-worst-home-price-haircut-youve-found","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2010\/10\/04\/whats-the-worst-home-price-haircut-youve-found\/","title":{"rendered":"What&#8217;s the Worst Home Price Haircut You&#8217;ve Found?"},"content":{"rendered":"<p>I received the following suggestion from a reader in an email with the subject: &#8220;Column Idea: Worst Haircut?&#8221;<\/p>\n<blockquote><p>Here&#8217;s a fun property: <a href=\"http:\/\/www.redfin.com\/WA\/North-Bend\/42905-SE-177th-St-98045\/home\/486128\" title=\"42905 SE 177th St North Bend, WA 98045\">42905 SE 177th St in North Bend<\/a><\/p>\n<p>Sold in August 2003 for $570,000, then sold for the insane price of $725,000 in April 2007, only to get taken back by the bank in July 2010.  Now listed for $410,000.<\/p><\/blockquote>\n<p>Great idea for a post!  The example he gave has fallen in value 43% (15% per year) since 2007, <em>assuming<\/em> they can get the current asking price.  That&#8217;s a pretty big drop, but I&#8217;ve got a better one: <a href=\"http:\/\/www.redfin.com\/WA\/Edmonds\/13110-Puget-Sound-Blvd-98026\/home\/2731151\" title=\"13110 Puget Sound Blvd Edmonds, WA 98026\">13110 Puget Sound Blvd in Edmonds<\/a><\/p>\n<ul>\n<li>Sold in September 2005 for $940,000<\/li>\n<li>Foreclosed in May 2010<\/li>\n<li>Sold in September 2010 for $430,000<\/li>\n<\/ul>\n<p>That&#8217;s a 56.4% drop (15.3% yearly) since 2005.  Yowza.  And this place isn&#8217;t some dumpy Ballard shack, either.  This is a decent 2,610 square foot near-waterfront home on half an acre in Edmonds.<\/p>\n<p>Here&#8217;s another good one: <a href=\"http:\/\/www.redfin.com\/WA\/Lynnwood\/20612-Locust-Way-98036\/home\/2649605\" title=\"20612 Locust Wy Lynnwood, WA 98036\">20612 Locust Wy in Lynnwood<\/a><\/p>\n<ul>\n<li>Sold in January 2008 for $1,250,000<\/li>\n<li>Sold in September 2010 for $600,000<\/li>\n<\/ul>\n<p>5 acres with 2 homes and a creek.  52% haircut in under three years (23% per year).  Dang.<\/p>\n<p>What&#8217;s the biggest haircut you&#8217;ve seen in the Seattle area lately?  Can you beat my 56% drop since 2005?  Add yours to the comments and I&#8217;ll update the post with the best examples.<\/p>\n<p><strong>[Update]<\/strong><br \/>\nWow, a lot of good entries.  Here are the biggest haircuts submitted yesterday by commenters:<\/p>\n<p>Spotted by Brad999: <a href=\"http:\/\/www.redfin.com\/WA\/INDEX\/51602-SKYKO-DR-98256\/home\/2747875\" title=\"51602 Skyko Dr Index, WA 98256\">51602 Skyko Dr in Index<\/a><\/p>\n<ul>\n<li>Sold February 2007 for $150,000<\/li>\n<li>Foreclosed July 2009<\/li>\n<li>Sold August 2010 for $35,000<\/li>\n<li>76.7% drop ($115,000) in 3.5 years<\/li>\n<\/ul>\n<p>Spotted by Carol: <a href=\"http:\/\/www.redfin.com\/WA\/Des-Moines\/23016-Marine-View-Dr-S-98198\/home\/201231\" title=\"23016 Marine View Dr S Des Moines, WA 98198\">23016 Marine View Dr S in Des Moines<\/a><\/p>\n<ul>\n<li>Sold July 2007 for $670,000<\/li>\n<li>Foreclosed April 2010<\/li>\n<li>Sold August 2010 for $242,572<\/li>\n<li>63.8% drop ($427,428) in 3 years<\/li>\n<\/ul>\n<p>Spotted by Jim Lamb: <a href=\"http:\/\/www.redfin.com\/WA\/Seattle\/3240-S-Edmunds-St-98118\/unit-B\/home\/12538392\" title=\"3240 S Edmunds St Unit B Seattle, WA 98118\">3240 S Edmunds St Unit B in Seattle<\/a><\/p>\n<ul>\n<li>Sold October 2007 for $438,000<\/li>\n<li>Foreclosed October 2008<\/li>\n<li>Sold February 2010 for $165,000<\/li>\n<li>62.3% drop ($273,000) in 2 years<\/li>\n<\/ul>\n<p>Spotted by Tom Dunford: <a href=\"http:\/\/www.redfin.com\/WA\/Bothell\/3030-228th-St-SE-98021\/home\/2622870\" title=\"3030 228th St SE Bothell, WA 98021\">3030 228th St SE in Bothell<\/a><\/p>\n<ul>\n<li>Sold August 2006 for $1,400,000<\/li>\n<li>Foreclosed June 2009<\/li>\n<li>Sale Pending at $545,000<\/li>\n<li>61.1% drop ($855,000) in 4 years<\/li>\n<\/ul>\n<p>Spotted by B&#038;W Nikes: <a href=\"http:\/\/www.redfin.com\/WA\/Seattle\/812-25th-Ave-98122\/home\/146239\" title=\"812 25th Ave Seattle, WA 98122\">812 25th Ave in Seattle<\/a><\/p>\n<ul>\n<li>Sold August 2006 for $399,999<\/li>\n<li>Sold August 2010 for $165,000<\/li>\n<li>58.7% drop ($234,999) in 4 years<\/li>\n<\/ul>\n<p>Spotted by Blake: <a href=\"http:\/\/www.redfin.com\/WA\/Seattle\/5469-Lake-Washington-Blvd-S-98118\/home\/490384\" title=\"5469 Lake Washington Blvd S Seattle, WA 98118\">5469 Lake Washington Blvd S in Seattle<\/a><\/p>\n<ul>\n<li>Sold October 2006 for $1,350,000<\/li>\n<li>Foreclosed November 2008<\/li>\n<li>Sold May 2009 for $597,000<\/li>\n<li>55.8% drop ($753,000) in 2.5 years<\/li>\n<\/ul>\n<p>Spotted by Brainiak: <a href=\"http:\/\/www.redfin.com\/WA\/Bothell\/6815-NE-204th-St-98028\/home\/283979\" title=\"6815 NE 204th St Bothell, WA 98028\">6815 NE 204th St in Bothell<\/a><\/p>\n<ul>\n<li>Sold January 2007 for $365,850<\/li>\n<li>Foreclosed April 2010<\/li>\n<li>Sold September 2010 for $185,000<\/li>\n<li>49.4% drop ($200,850) in 3.5 years<\/li>\n<\/ul>\n<p>Spotted by DavidB: <a href=\"http:\/\/www.redfin.com\/WA\/Seattle\/2200-32nd-Ave-W-98199\/home\/125769\" title=\"2200 32nd Ave W Seattle, WA 98199\">2200 32nd Ave W in Magnolia<\/a><\/p>\n<ul>\n<li>Sold 2006 for $1,600,000<\/li>\n<li>Sold July 2010 for $850,000<\/li>\n<li>46.8% drop ($750,000) in 4 years<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>I received the following suggestion from a reader in an email with the subject: &#8220;Column Idea: Worst Haircut?&#8221; Here&#8217;s a fun property: 42905 SE 177th St in North Bend Sold in August 2003 for $570,000, then sold for the insane price of $725,000 in April 2007, only to get taken back by the bank in&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[206],"tags":[712,161,9],"coauthors":[],"class_list":["post-12736","post","type-post","status-publish","format-standard","hentry","category-features","tag-haircut","tag-price-drops","tag-reader_question"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What&#039;s the Worst Home Price Haircut You&#039;ve Found? 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