Quite brilliant SOG. That was just listed for 789K and the pulled from the market. Then just sold 695K. Whaddya think superstar? Deal or not? Whaddya think that 1300sqr outdoor roof top kitchen is worth?
Must be a special kind of stupid who would buy a 2 and 2 for several hundred thousand above the comps. The most expensive condos in Sherman oaks are in the mid 600's and we are talking 3,3 2200 square feet. And that's what they are asking not getting.
Quote from krazykarl: A lot of people on here throw around numbers to boost their position like "down 30-40%..". These types of things are easily supported by links to trulia.com or zillow.com. Why not both of you guys post some links to properties on there? They will show sale history from the country records so there is not arguing the sale prices. Zillow and other sites like them are for amateurs not professionals. They fool the masses (or a bad realtor, sorry couldn't resist) into thinking they know the real value while pros use comparables or value based on the income the property produces, depending on the property type. Interesting thread. Ignorance is bliss I guess. good trading BM
Dr. Zhivodka--- I live in Sherman Oaks Ventura/Beverly Glen and have looked at many houses in the area for investment purposes... No way in hell a 2+2 is going for 725 ... I just looked at a property in Sherman Oaks on 1/4 acre with (2) 2+2 houses listed for 600K.
Forget 725k...it was bought for 825k! In 4 days! Sight unseen... with tandem parking! 1800 sq ft. BWAHAHAHAHAHA. Sure, there might be some fucking idiots out there who would overpay for something like that. This is LA, and absolutely anything is possible. The perfect weather here makes you dumber (see LAUSD) and broker (see State of California budget).. But to use that as your case for a strong local real estate market, welp, it's just kinda silly.
Yeah right. Amateurs and professionals. Like there is any real difference between them when it comes to real estate. Have you seen some of these real estate 'professionals'? Bunch of retards. Was Mozillo a professional? The amount I've saved over the last 5 years not listening to the professionals is enough to buy many homes. Ill listen to the bid offers on trulia all day.
Hey, use what you want. It is your money. But there is a difference between newbies and pros. All those who jumped into the market because they donât understand what real cash flow is, who didnât do their homework and now are upside down on their NOO properties are feeling a lot of pain these days. And much to their chagrin, the bank wonât work with them because it is NOO so they donât qualify for workout options in many cases. Of course, it is not their fault according to them. Caveat Emptor. Good trading BM