Perusing the foreclosures in the area, Ione definitely stands out as a city that is looking down the barrel of a depreciation cannon. There is a sign on Highway 49 that says "Smart people are buying now." I always laugh when I see that and I always wonder if they know how offensive that statement is; the conclusion being that if you are not buying now and in fact waiting for something that seems reasonable and sensible, then you are a fool and a dolt. We shall see.
Of course, I wonder of those same agents told their clients 12-24 months ago that it was not a good time to buy. Likely, they have never told anybody that it is a bad time to buy.
This house in Ione at 2108 Village Dr. is a great example of why it is such a smart time to buy. According to Amador.WhoBoughtWhat.com this property was last sold in March 2006 for $365k. It was probably brokered through those agents on Highway 49.
So, $365k in 2006...soon foreclosed upon...and now less than 2 years later it can be picked up for $248,900! Wow! $116k off the last sales price and yet the lender is still having a hard time unload this place. Apparently, those in Ione haven't seen that sign on 49.
In fact, NexTag doesn't understand the market in Ione either; they are currently listing the value as "NexTag Estimate: $372,300". Someone better let that lender know that they are pricing it way too low.
NexTag Description
2108 Village Dr, Ione, CA 95640If smart people are buying now, I figure if I wait long enough to buy, I will be really smart.
NexTag Estimate: $372,300 (as of 12/23/2007)
Appreciation Since Last Sale: $7,300 (+2%)
A comfortable 3 bedroom, 2 bathroom single family home in Ione, California. This home, built in 1996, measures 1,232 sq ft on a 47,916 sq ft (1.1 acre) lot. Amenities include central heating, central cooling, and fireplace. NexTag estimates this Amador county home's value to be $372,300.
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