The L.A. times today featured a fairly interesting article today on the front page of the Real Estate section. It features a quote or two from our own powayseller.
Wow, what a biased article. It’s totally slanted so everyone that sold appears to have done wrong even if they recovered and bought something that is now worth 2 million in their estimate…
The guy who claims his remodel is worth millions is going to be sitting in it for several decades to make his claim come true. Meanwhile, others will be buying foreclosures at bargain-basement prices while his money is all tied up in a depreciating asset.
People who remodel usually think their bat caves should be worth the labor and materials cost times three – instead of dividing by three, as I do when I make an offer.
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