Today's F@cked Buyer (Homestead)

As I look at these F@cked Buyers, I am amazed that some people bought in so late. This home was purchase only 11 months ago for a price that far exceeded its true market value. Weren't buyers aware that a bubble had burst? A year from now, I imagine we'll be saying the same thing about people who are buying today. Now this property is being offered as a short sale for 33% off its purchase price.

On a side note, based on the photos available on Ziprealty.com, I doubt that this is in a very good neighborhood. Every window is covered with bars -- the home resembles a prison.

13624 SW 284 TE, Homestead, FL 33135

• 3 Bed, 2 Bath SFH
• Bought in January 2007 for $240,000
• On the MLS for $160,000
• Days on the Market: 2
• Loss before the Realtor® commission: $80,000
• Loss after the Realtor® commission: $89,600