The Village at Green River in Corona, Calif., began marketing 19 newly-built townhouses in July 2007, just as the national real estate market began flagging. The average price of the homes, which vary in size from 1,400 to 1,640 square feet, was $505,000 at the time. Three price drops later, the homes finally began selling in March — at an average price of $309,000, says listing agent Dominic Kurtyan.
Sure, it’s another story of home prices dropping in a sour real estate market, by about 39 percent in this case...
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