Casa De Oaks currently has Seven (7) 2-bedroom listings, and Ten (10) 3-bedroom condo units for sale ranging in size from 810 to 1,200 sf and (list) priced from $179,900 to $299,000. Days on Market range from 3 (new REO) to 177. Of the 17 Actives there are only SIX (6) sellers that are NOT Short Sales or REOs (bank-owned).
The lending practices of 2003-2006 enabled buyers to qualify for an option-ARM or similar mortgage with no money down. The vast majority of these homeowners are upside-down in their equity position and have had their payment jump through the roof. The lower-end of the market had a plethora of first-time homebuyers that would have never bought their homes had they known they would be in the situation they are in today.
I may have a new (Short Sale) listing later this week in the Maegan Place complex, if you should know of any interested buyers.