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May 23rd, 2017, 01:07 PM
#921
Member Member
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May 23rd, 2017, 01:39 PM
#922
There's a house that went up for sale along my bike commute. It's a block off Fairfax (a reasonably major arterial) and a block off of Venice (a massive arterial). It's south of Pico, which puts it in a less desirable neighborhood than north, though still north of I-10, which is more desirable than south. I think it was about 1,600 sq. ft., 3 bedroom, 2 bath. I noticed it because the agent on the sign is the agent we worked with when we bought our place.
It went into escrow within a week and sold for $75k over asking at $1.325 million. It is also cray-cray out here.
Last edited by Tom Servo; May 23rd, 2017 at 01:42 PM.
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May 23rd, 2017, 03:28 PM
#923
Yeah, real estate market is going nuts like it's 2005 all over again. My former business partner just sold a house for $120k which was 15 over asking. Not hugely impressive, except for the fact that its in a terrible neighborhood where the highest comps are in the $60-65k range.
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May 23rd, 2017, 04:23 PM
#924
At least we no longer have those crazy zero down no credit chk subprime loan driving up home values... I hope.
I think currently, it's just the rich/speculators running out of things to invest in.
Anyway, I really feel bad for the poor or renters in my neighborhood. Current rent is way above my mortgage payments, even including property tax! If you are a renter, you may appear middle class with your wage, but after paying your rent, you'd be barely making ends meet!
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May 23rd, 2017, 04:31 PM
#925
Jedi
It's not like that here. Things in Columbia have been flat for ten years.
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May 23rd, 2017, 05:42 PM
#926
Administrator
Sold my house in Sparta to the first person that looked and he paid cash.
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May 23rd, 2017, 06:19 PM
#927
Normal middle class buyers do not buy houses with cash.
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May 23rd, 2017, 08:45 PM
#928
mAdminstrator
Looked at Detroit real estate lately?
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May 23rd, 2017, 09:35 PM
#929
Where are my keys?
Until recently I've never heard of people offering MORE than the listed asking price for properties.
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May 24th, 2017, 04:07 AM
#930
It was back in the days of the bubble - like 2004-08, and apparently its back.
Look for real estate values to crater in the next few years.
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