jp
Someone wasnt insane to buy it during the bubble for almost $1.7M, it wasnt their money. Someone was insane for lending them the money to do it. The buyer didnt care because they had no skin in the game. That is why some seriously undesireable properties sold for insane prices when they should have struggled to sell at all even at a well below market price. That property not only sits on the freeway but it overlooks what is probably the busiest runway at a major airport in the US. Examples like this are why I ignore flawed properties when analyzing the market. Well informed buyers of the type I work with would never consider a property like that and they dont impact the market we are shopping in.
