Monday, April 7, 2008

The House that Sex Built... Get's No Loving.

Harlow and Joe's House

Virginia Beach has just released their 2008 real estate assessments, and once again the house and land that Harlow Cuadra and Joseph Kerekes lived at on 1028 Stratem Court, has lost value for the third year in a row:

Assessment History:

2006: $571,803.00
2007: $542,683.00
2008: $513,800.00

That's a loss of $58,003.00 in two years.

With the current asking price at $471,900.00 - it appears to be quite a bargain, at least until a few more years... assuming this trend continues. The house was listed for $699,000.00 not too long ago, and was originally purchased by Harlow and Joe on 10/19/2005 for $542,375.00.

It should also be noted that every house within Harlow and Joe's neighboorhood has been losing value since they were built... some as much as $100,000.00 in four years. What's interesting is that it seems to be the values of the land, more than the houses themselves.