Not selling at $249k? Try $1.165 million

The current owner of this San Juan property - a 2003 rollback - has tried a few typical tricks, and so far none seems to be working. We'd like to point out that one of these moves includes jacking up the asking price by almost $1 million.

26405 Smoketree Ln, 92675
Asking price: $249,000
Asking price/ sq ft: $208
Purchase price: $302,000
Purchase date: 11/21/03
Size: 2 beds, 1 bath, 1,200 sq ft (built in 1973)
MLS: S556969 (88 days on Redfin)
ZipRealty price tracker: Price Reduced: 02/26/09 -- $269,000 to $249,000
Price Increased: 03/08/09 -- $249,000 to $1,165,000
Price Reduced: 03/09/09 -- $1,165,000 to $249,000
Zillow Zestimate: $293,500
HOA dues: $112
Type: Single Family Residence
Stories: 1
Lot size: 3,000 Sq. Ft.
From listing: Single-Level Home on Cul-de-Sac with Excellent Community Recreation! Outdoor Courtyard Living! Granite & Tile Kitchen. Dining Room + Covered Dining Patio! Big Living Room Floorplan currently set-up as small Living Room + Den/3rd Bedroom. Big Master & 2nd Bedroom w/Walk-In Closets. Full Bath w/Tub. Garage, Carport, Driveway plus low-cost community RV/Boat Parking. EZ Commuter Access for I-5 & 73. Near Shops, Harbor & Beach. WOW~Community Fishing Lakes, Pools, Parks, Sports Fields & Courts, Tot Lots, Nature Trails surrounded by open Countryside!


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This property has come up for sale a few times recently asking in the $260,000-$280,000 range. It also was for rent in 2007 asking $2,200 per month.

We have to admit, though, the move to change the asking price from $249,000 to $1,165,000 is a pretty original one. Now that the price is back to $249,000 (it was changed back the next day), it must seem like a bargain. Of course, there's always the possibility it was a mistake, but if it was they should have known better.

Assuming the property sells for the current asking price, it would be a loss of $67,940 off the 2003 sales price, including 6% sales costs.