Wow, that’s quite a drop! I can’t wait to see decent properties in the IE drop to that level. I’m just itching to finally ditch my mobile home and buy a decent house with some land.
Sale History
08/01/2006: $296,000
06/15/2005: $230,000
05/02/2000: $53,500
06/04/1999: $66,957
09/24/1996: $63,000
I wonder if the 2005 or 2006 sales were fraudulent, especially the 2006 one. Applying a reasonable 4% annual appreciation rate to the 1996 and 1999 prices, this house in the desert should be in the $92K – $97K range.
Again this reminds me of my wife and I visiting relatives living up in that area. Actually, it was a cousin’s girlfriend who lived there.
Oh my God, the high desert area is such a wasteland.
scorching hot, flies buzzing by the thousands, blowing sand grinding the paint off your cars, and talk about white trash, those towns are magnets for white trash junk collectors who fill their big lots with tons of eyesore junk.
One key piece missing from your analysis: There has been tremendous income growth in these areas due to the meth lab employment sector…146K may not be entirely reasonable…just like growing poppies in afghanistan.
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