Thank you all for your comments! I have learned quite a lot from here.
However, I am still confused by the present value of which one is true, $1.15 mil or $1.93 mil? Shoudln’t the recent sale price be the closest market value, rather than the next to last sale? Pls help me to monitor this value together, and hope zillow will adjust soon on this. Otherwise, zillow should change name to http://www.ownerfeelgoodbutcantsell.com
I agree with the majority of you here that prices will continue to fall, just according to very simple economic sense.
However the Glendale house was sold for $1.9 mil (a proven value) in 2006, and given yoy housing price increase in LA published recently, this housing should be worth even more in 2007. I still need helps!
