Way Lowe-rPosted on Tuesday, May 25th, 2010 at 3:38am.
The Dodgers don't always look smart in their bets on the future, but Mr. Lowe has not exactly provided the value or promise in the 4-year, $60 million contract he got from Atlanta.
His innings were down last year, his ERA was up 1.50 and he gave up lots more hits and walks. He's on track for a much worse 2010.
Mr. Lowe's own bet on MB real estate hasn't panned out so well, either.
In Aug. 2006, he bought 204 19th (4br/4ba, 4260 sq. ft.) new for $5.0m.
When his last of 4 seasons with the Dodgers was nearly over in Sept. 2008, he listed the home for $5.7m. Nice markup.
Once he knew for sure that he was leaving town 4 months later, he dropped the price to $5.2m. (See "Lowe-ring the Price.") Still a markup, though.
Another 4 months later came the final (public) price cut: to $4.599m on May 21, 2009. First markdown.
Precisely one year passed, and a sale closed last week, May 21, 2010, for $3.9m.
That's a chop of $699k (-15%) from the last list price. So, yes, it was priced much too high for the past year.
And that's -$1.1m/-22% from the new & peak price, $5.0m, in Aug. 2006.
Maybe that's no big bite when you've got $30m to come even after this season, come what may.
But a new home near the beach on dreamy 19th, down 22% in less than 4 years – that's a chop that could leave a mark.
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