I know I started this as a PL thread, but this just came active again in 92103, 1824 Puterbaugh. Sold in 2004 for 944k. NOD filed in May 2009. Listed in June 2010. It’s been on and off the market w/the price fluctuating. Right now it’s listed for 590k.
Regardless of condition or exact location, this place previously sold for 944k. Whoever bought it lacked the wherewithal to keep it or maybe lacked the desire to keep it. Maybe they had the money to pay, but financially made the decision to walk. In any case, I was not seeing these kind of reductions last year in 92103.
Also, 1802 Puterbaugh sold for 650k. Last year it was listed for 995k.
I personally like these old houses and while just slightly out of my price range, I have a question. If this is a trend and places like these start selling for 600k, then what will happen to the shacks that are now selling for 600k? I think CAR is right and there will be a squish down compression.
