Now Asking $153K - 2218 Banbury Street, Charlottesville: Neg Eq Leads to Foreclosure Then Relisting At 45% Discount

After "chasing down the market" for months with small price decreases, 2218 Banbury Street, a rancher in the City, is a classic tale of negative equity leading to foreclosure--and dragging all the neighbors underwater simultaneously.  Negative Equity is a plague in Virginia, and it's increasing in Charlottesville Albemarle.   

Despite the loss of home value around it, this house is now priced at