Today's F@cked Buyer (Coral Springs)

When I post these F@cked Buyers, I am often amazed at some of the prices that some fools paid for homes. Just 10 months ago, long after the bubble had started to deflate, someone paid over $300,000 for 3-bedroom condo that had just been converted from apartments. One could have easily purchased a 4-bedroom single-family home with a pool and no HOA only block from this condo-conversion. What in the world were they thinking? Now, this unit is being offered as a short sale for 49% off the previous purchase price -- nearly half the price in 10 months. Ouch.

8871 WILES RD # 108-8, Coral Springs, FL 33067

• 3 Bed, 2 Bath Condo
• Bought in January 2007 for $311,000
• On the MLS for $160,000
• Days on the Market: 36
• Loss before the Realtor® commission: $151,000
• Loss after the Realtor® commission: $160,600