Address: 129 Islington, Irvine, CA 92620 (Northwood)

Plan: 1250 sq ft – 2/2

MLS: P513933 DOM: 131

Sale History: 07/11/2005: $555,000

Current Price: $575,000

This property in the Greystone Villas tract sold in only 4 DAYS last year. Now the same property has been on the market for over 4 MONTHS!! Perhaps a reduction in price would help make the sale? It appears the property is tenant occupied. So could it be that the owner isn’t bleeding money every month and is just hoping to get out of the market without any serious damage?

*IF* the property sells for the asking price, the owner is still looking at a loss of $14,500 (assuming 6% in commissions). OUCH! That’s serious enough for me!