924 5TH St #2 SANTA MONICA, CA 90403 Short Sale

924 5TH St #10 SANTA MONICA, CA 90403 a Wells Fargo REO is listed for $684,900. Down from the $1,054,000 it sold for in March 2007.

I’ve got some bad news for Wells Fargo. Unit #2 in the same building (924 5TH St #2 SANTA MONICA, CA 90403) is a Short Sale listed for $337,500. It is a much smaller unit, but does not help the comparables to support the $684,900 asking price.

Also Unit #4 in the same building Sold in February 2008 for $430,000. Granted it’s a 1 bed room 1 bath unit. But this sale took place before the economy fell off a cliff.

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