# lots in cypress cove at Watercolor under $290k

[fisher]

Just saw on the MLS that there are 3 lots in Cypress Cove priced under $290k. At the highwater mark, lots in this area were selling in the mid to high $600k range. In early 2004 almost 3 years ago, these lots were selling in the high $200k range where they are back to now.

 

[Miss Kitty]

Just saw on the MLS that there are 3 lots in Cypress Cove priced under $290k. At the highwater mark, lots in this area were selling in the mid to high $600k range. In early 2004 almost 3 years ago, these lots were selling in the high $200k range where they are back to now.

Sounds like a good correction to me.

 

[fisher]

Sounds like a good correction to me.

Things probably haven't "corrected" enough. Houses near these lots are selling from $640k to $800k. That puts the value of the underlying land in the range of $150k to $250k. Looks like the price of these raw lots and others near them still has a way to go to fully correct.