[Bugs]

I reckon the market rent for this sucka would be $2,000 or less. It’s only 2 bedrooms.

If the prices eventually do return to trend as we anticipate, a 175 monthly gross rent multiplier would result in an indicated value of about $350,000, which when compared to the 1995 purchase price of $255,000 actually makes some sense.

Granted, if the price structure in this neighborhood ever do go that far that point is at least a couple years off yet. Still, it could happen.

[Bugs]

I reckon the market rent for this sucka would be $2,000 or less. It’s only 2 bedrooms.

If the prices eventually do return to trend as we anticipate, a 175 monthly gross rent multiplier would result in an indicated value of about $350,000, which when compared to the 1995 purchase price of $255,000 actually makes some sense.

Granted, if the price structure in this neighborhood ever do go that far that point is at least a couple years off yet. Still, it could happen.

[Bugs]

I reckon the market rent for this sucka would be $2,000 or less. It’s only 2 bedrooms.

If the prices eventually do return to trend as we anticipate, a 175 monthly gross rent multiplier would result in an indicated value of about $350,000, which when compared to the 1995 purchase price of $255,000 actually makes some sense.

Granted, if the price structure in this neighborhood ever do go that far that point is at least a couple years off yet. Still, it could happen.

[Bugs]

I reckon the market rent for this sucka would be $2,000 or less. It’s only 2 bedrooms.

If the prices eventually do return to trend as we anticipate, a 175 monthly gross rent multiplier would result in an indicated value of about $350,000, which when compared to the 1995 purchase price of $255,000 actually makes some sense.

Granted, if the price structure in this neighborhood ever do go that far that point is at least a couple years off yet. Still, it could happen.

[Bugs]

I reckon the market rent for this sucka would be $2,000 or less. It’s only 2 bedrooms.

If the prices eventually do return to trend as we anticipate, a 175 monthly gross rent multiplier would result in an indicated value of about $350,000, which when compared to the 1995 purchase price of $255,000 actually makes some sense.

Granted, if the price structure in this neighborhood ever do go that far that point is at least a couple years off yet. Still, it could happen.

[Bugs]

“Baffle” you? By all means, do tell.

Let’s see it – give us your best rendition of why Now is a GREAT time to buy Real Estate!!!

[Bugs]

“Baffle” you? By all means, do tell.

Let’s see it – give us your best rendition of why Now is a GREAT time to buy Real Estate!!!

[Bugs]

“Baffle” you? By all means, do tell.

Let’s see it – give us your best rendition of why Now is a GREAT time to buy Real Estate!!!

[Bugs]

“Baffle” you? By all means, do tell.

Let’s see it – give us your best rendition of why Now is a GREAT time to buy Real Estate!!!

[Bugs]

“Baffle” you? By all means, do tell.

Let’s see it – give us your best rendition of why Now is a GREAT time to buy Real Estate!!!

[Bugs]

Uhh, speaking of not knowing what you’re talking about…..

This is an 1,130 SqFt house on a 4,300 SqFt lot, and it’s not some spectacular remodel. This house is not now and never has been worth more than $800k, let alone $1,000,000.

In fact – this home was listed for 4 months at the very height of the market for this area in 2006 at $775,000, and it didn’t sell then. That failed listing shows what this property wasn’t worth at that time. What does that tell you about the current value?

The very “best” I could do in looking around in that area is the home at 4361 Hermosa, which is on the canyon side of the street (4298 is on the inland side), has a 12,000 Sqft canyon lot (vs. 4298s 4,300 SqFt triangular lot) and the home is 30% larger at 1672 SqFt – with a 3rd bedroom and 3 baths. That home sold for $735,000 in 02/2008 and it positively blows 4298 Hermosa out of the water.

4361 Hermosa is so much better than 4298 that I wouldn’t dare include it as a comparable sale in an appraisal.

This property going into NOD has no effect on the value of every other property in the neighborhood – they’re already worth less now than they were at the height of the market.

BTW, there are 2 homes within a 5 block radius of 4298 Hermosa that have recently sold for $382,000 and $441,000, respectively. If you want to talk about dragging the neighborhood down those are your prime suspects.

[Bugs]

Uhh, speaking of not knowing what you’re talking about…..

This is an 1,130 SqFt house on a 4,300 SqFt lot, and it’s not some spectacular remodel. This house is not now and never has been worth more than $800k, let alone $1,000,000.

In fact – this home was listed for 4 months at the very height of the market for this area in 2006 at $775,000, and it didn’t sell then. That failed listing shows what this property wasn’t worth at that time. What does that tell you about the current value?

The very “best” I could do in looking around in that area is the home at 4361 Hermosa, which is on the canyon side of the street (4298 is on the inland side), has a 12,000 Sqft canyon lot (vs. 4298s 4,300 SqFt triangular lot) and the home is 30% larger at 1672 SqFt – with a 3rd bedroom and 3 baths. That home sold for $735,000 in 02/2008 and it positively blows 4298 Hermosa out of the water.

4361 Hermosa is so much better than 4298 that I wouldn’t dare include it as a comparable sale in an appraisal.

This property going into NOD has no effect on the value of every other property in the neighborhood – they’re already worth less now than they were at the height of the market.

BTW, there are 2 homes within a 5 block radius of 4298 Hermosa that have recently sold for $382,000 and $441,000, respectively. If you want to talk about dragging the neighborhood down those are your prime suspects.

[Bugs]

Uhh, speaking of not knowing what you’re talking about…..

This is an 1,130 SqFt house on a 4,300 SqFt lot, and it’s not some spectacular remodel. This house is not now and never has been worth more than $800k, let alone $1,000,000.

In fact – this home was listed for 4 months at the very height of the market for this area in 2006 at $775,000, and it didn’t sell then. That failed listing shows what this property wasn’t worth at that time. What does that tell you about the current value?

The very “best” I could do in looking around in that area is the home at 4361 Hermosa, which is on the canyon side of the street (4298 is on the inland side), has a 12,000 Sqft canyon lot (vs. 4298s 4,300 SqFt triangular lot) and the home is 30% larger at 1672 SqFt – with a 3rd bedroom and 3 baths. That home sold for $735,000 in 02/2008 and it positively blows 4298 Hermosa out of the water.

4361 Hermosa is so much better than 4298 that I wouldn’t dare include it as a comparable sale in an appraisal.

This property going into NOD has no effect on the value of every other property in the neighborhood – they’re already worth less now than they were at the height of the market.

BTW, there are 2 homes within a 5 block radius of 4298 Hermosa that have recently sold for $382,000 and $441,000, respectively. If you want to talk about dragging the neighborhood down those are your prime suspects.

[Bugs]

Uhh, speaking of not knowing what you’re talking about…..

This is an 1,130 SqFt house on a 4,300 SqFt lot, and it’s not some spectacular remodel. This house is not now and never has been worth more than $800k, let alone $1,000,000.

In fact – this home was listed for 4 months at the very height of the market for this area in 2006 at $775,000, and it didn’t sell then. That failed listing shows what this property wasn’t worth at that time. What does that tell you about the current value?

The very “best” I could do in looking around in that area is the home at 4361 Hermosa, which is on the canyon side of the street (4298 is on the inland side), has a 12,000 Sqft canyon lot (vs. 4298s 4,300 SqFt triangular lot) and the home is 30% larger at 1672 SqFt – with a 3rd bedroom and 3 baths. That home sold for $735,000 in 02/2008 and it positively blows 4298 Hermosa out of the water.

4361 Hermosa is so much better than 4298 that I wouldn’t dare include it as a comparable sale in an appraisal.

This property going into NOD has no effect on the value of every other property in the neighborhood – they’re already worth less now than they were at the height of the market.

BTW, there are 2 homes within a 5 block radius of 4298 Hermosa that have recently sold for $382,000 and $441,000, respectively. If you want to talk about dragging the neighborhood down those are your prime suspects.

[Bugs]

Uhh, speaking of not knowing what you’re talking about…..

This is an 1,130 SqFt house on a 4,300 SqFt lot, and it’s not some spectacular remodel. This house is not now and never has been worth more than $800k, let alone $1,000,000.

In fact – this home was listed for 4 months at the very height of the market for this area in 2006 at $775,000, and it didn’t sell then. That failed listing shows what this property wasn’t worth at that time. What does that tell you about the current value?

The very “best” I could do in looking around in that area is the home at 4361 Hermosa, which is on the canyon side of the street (4298 is on the inland side), has a 12,000 Sqft canyon lot (vs. 4298s 4,300 SqFt triangular lot) and the home is 30% larger at 1672 SqFt – with a 3rd bedroom and 3 baths. That home sold for $735,000 in 02/2008 and it positively blows 4298 Hermosa out of the water.

4361 Hermosa is so much better than 4298 that I wouldn’t dare include it as a comparable sale in an appraisal.

This property going into NOD has no effect on the value of every other property in the neighborhood – they’re already worth less now than they were at the height of the market.

BTW, there are 2 homes within a 5 block radius of 4298 Hermosa that have recently sold for $382,000 and $441,000, respectively. If you want to talk about dragging the neighborhood down those are your prime suspects.

[Author]

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