Not-so-magic kingdom

Who said you've got to "spend" money to take a six-figure hit? Consider the following:

1250 S BROOKHURST ST #2106
Anaheim, Calif., 92804

Bedrooms: 2
Baths: 1
Sq. feet: 859
Year built: 1980
MLS#: M105635
Days on market: 81
Asking price: $349,000; $304,000; $269,000
Price/sq. ft. (asking price): $314

Essentially, if you've got a 20 percent down payment laying around, you can pay around $1,800 a month to live here. At least you'll be close enough to Disneyland to give that annual pass more bang for its buck.

Well thought out and detailed description showing up on ZipRealty site as well: 2bed 1/bath condo. That's it. I'm just a fool with no access to the private remarks section, but my guess is there's something more there. At least, I hope so.

The logic is even more skewed when you consider its recent sales history:
08/30/1989: $94,000
12/18/2002: $145,000
05/04/2004: $205,000
06/07/2006: $365,000 ($414 per sq. ft.)

That's right: This seller stands to lose $112,140, assuming 6 percent selling costs. This must be near Disneyland...because they're getting taken for one heck of a freefalling ride.