Looks like there are some motivated sellers out there. A 4 Bedroom SLO home originally was listed for $749,000 at the end of June has had multiple price reductions, the last being down to $679,000. The home just closed escrow at a sale price of....$550,000. It looks like it was a quick escrow (10 day) so having cash looks like it got the Buyer a great deal. It won't help the value of the neighborhood though.

This isn't the only home to go for a sizeable percentage less than the last list price. Here are others that just closed escrow:

- A home in Paso Robles last listed at $971K sold for $823K

- Another SLO home last listed at $821K sold for $780K

- A Lompoc home last listed at $325K sold for $285K