“Realtor said they don’t have room to reduce.”
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Well I’m not sure they can get something in the high $300’s at this point. I actually own a unit in the neighborhood. Alot of owners moved out and up since ’02/’03. I’m guessing about 1/4 of the neighborhood is upside down from a purchase price perspective. I think anything under $300K will be a nice buy as long as you are on the north side away from Balboa. There are some really nice ocean views if you are far enough up the hill. I’m hoping to get $2K/month for my place after I finish a rehab and move back out.
