San Diego failed trade-in

350 NUTMEG ST #404 San Diego, Calif., 92103
Size: 2 bed/2 bath, 1,589 sq ft
MLS: 076030488
Sale history: 04/08/2005: $799,000
Price Reduced: 05/16/07 -- $780,000 to $760,000
Price Reduced: 05/26/07 -- $760,000 to $720,000
Current price: $720,000 (56 DOM according to Ziprealty)
Lowest price in the area, excellent value. Brite unit! If you love travertine, granite, vaulted ceilings, stainless appliances, maple cabinets and a bonus loft for work or play, then this is your new home. Dual master style, with dual outside decks/views is hard to beat.

Hard to beat indeed...this "brite" unit is approaching its two-month anniversary on the market, and with two price reductions, it's no doubt taking a bite out of someone's wallet.

Assuming 6 percent selling costs, we're looking at a loss of $122,200 and counting.