Mortgagee's substantial loss on three bedroom Spalding home

A three bedroom house in Spalding, a northeastern suburb of Geraldton, Western Australia, has been offered by mortgagees for $89,000.

It has been listed by Debbie Brittain from Ray White.

It was previously sold in 2008 for $255,000.

It was listed for $260,000 for 540 days in 2015-2017 but failed to sell.

Positioned at 14 Robinson St, the house comes with three bedrooms, good size lounge room, and fully enclosed back verandah with direct access to lock up garage..

Set on an 809sqm block, other features of the house include paved patio and large backyard with plenty of room for a shed.

The home has returned to 1990's levels of value where it also previously sold for a small loss in 1997 for $85,000 after being sold for $86,000 in 1992.

It is close to schools and shops.

The suburb's median house price sits at $130,000, according to CoreLogic.