As you make your way home this evening, perhaps you'll pass the "Gateway to Manhattan Beach," aka 4419 Highland
If so, consider that fact that the listing has just passed a new threshold: It's priced below $1m for the first time (by a buck).
The troubled speckie and monument to local bubble excesses was first listed in June 2007 for $1.695m
Over time, the listing passed from hand to hand, with 3 separate agents representing the property. It was at $1.265m
when it quit in Sept. 2008 to become a rental (see "Goodbye to An Old Friend
This year's listing began not so far below that, at $1.190m, but it's now at $999k
Using MBC's Wayback Machine(TM), we find that the property was first offered to the general public at the construction stage for the "wholesale price" of nearly $1.4m. (See "Builder Rethinking Dubious Lot?
With that, you would be buying "200K in Equity." That's what they said then.