No need for arguing but larry has a point. If there was ever a poster child for the bubble, it is 1.7 million for that house. And if there ever was a reason to think that 40% off is nothing more than the tip of the iceburg, it is that house at 1.1 mil. 20 years ago that would be nothing more than a surfer/stoner flop house and today it is a flip that someone painted and called it a luxury pad worth millions but they didn’t even paint it.
I wouldn’t pay 500k for it and I wouldn’t pay over 2k to rent it and you know my standards aren’t too high, I live in Temecula. There is a freakin power pole blocking the view and one in the back yard!!!! Even if it came with a stripper to dance on the pole, sorry, no sale, well, maybe. Real estate is part emotion, but if the house makes me wish for a stucco box in the desert, it does not merit seven digits and it never should have.
Still, Asia, it is a good find for it’s mathematical significance as to the cracks in the high end.
