Bubblicious

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Submitted by moneymaker on August 4, 2017 - 5:56am

In case you weren't sure of this bubble http://www.sdlookup.com/MLS-170020299-44...
$556k for 640 sq.ft. and no garage.

Submitted by pencilneck on August 4, 2017 - 12:59pm.

The listing, which includes 15 pictures of the same room, may seem to indicate some sort of bubble. However, with interest rates this low and demand so strong, the market may be able to support listings with up to 19 photos per room.

Time will tell.

Submitted by gzz on August 4, 2017 - 2:07pm.

The 640sf does not look right. The living room/kitchen looks like about 400, leaving 240 for two bedrooms and two bathrooms.

That place looks like it would easily rent for the mortgage payment, meanwhile you get tax benefits and pay down the balance each month.

Nice renovation too. The granny flat law and big yard means an extra unit can be built too.

Submitted by NotCranky on August 4, 2017 - 11:26pm.

gzz wrote:
The 640sf does not look right. The living room/kitchen looks like about 400, leaving 240 for two bedrooms and two bathrooms.

That place looks like it would easily rent for the mortgage payment, meanwhile you get tax benefits and pay down the balance each month.

Nice renovation too. The granny flat law and big yard means an extra unit can be built too.

640 sqft, if it is actually bigger, unpermitted additions eating up the little 3125 Sqft lot and putting anyone who wants to pull a subsequent permit at risk of getting hammered by code compliance.

This could easily be a situation where someone,not necessarily recent flipper, knocking out walls and making a bigger great room and then adding bedrooms back on without permits and not in the ball park of code.

Submitted by phaster on August 5, 2017 - 10:29am.

another POV, consider satellite "data" of:

https://www.google.com/maps/place/4481+C...

indicates an alley, so what is to prevent a "stealth" property upgrade,...

http://www.countryliving.com/home-design...?

IMHO way over priced, given:

http://www.jmaproperties.com/oregon-real...

but for individuals wanting to put down roots (in the area) it might be the only way to to "buy in"

Submitted by moneymaker on August 5, 2017 - 12:09pm.

$869/sq.ft. is not an asking price that is the sold price, I just don't get it.

Submitted by catboris on August 5, 2017 - 5:41pm.

I used to walk in the area when this place was for sale. The pictures on Redfin didn't make it clear that one bathroom is Jack and Jill bathroom and another is a half bath off the hallway. It is definitely small, but backyard was decent (but untouched, just bare dirt) and remodel wasn't bad.

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