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Real Price discovery has started in high-end cities in LA
invite response
2012 Mar 20, 4:55pm 32,585 views 52 comments
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rufita11
2012 Dec 16, 1:11pm
Patience, patience friends - this WILL happen
I so hope you are right. The new available properties in my LA area today are all 'flips', some investor somehow got a good deal, went to Home Depot, and is now asking 50K more. It is sickening to me.
Where I am looking in Santa Cruz and the East Bay, Home Depot flippers are looking for $200K more than they paid. Those properties are just sitting on the market though. A little bit of hope that things will cool down.
David9
2012 Dec 16, 1:54pm
for $200K more than they paid.
Yes, that too, must have been the Redfin email of the day as most investors are adding on more than that when attempting to sell their investment properties.
Repeating myself, I feel this is discrimination against anyone who does not have boat loads of cash. And this is not exclusive to 'Home Depot Flippers'. At auction.com, many properties are 'cash only'. But, way of the world I suppose, doesn't mean I'm going to be a fool.
dunnross
2012 Dec 16, 3:03pm
yawn...
Please don't post a pic of yourself without your boxer shorts, 2 years from now. With a cheap $2 soda, or without.
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Real price discovery has started in middle to high end neighborhoods in LA. Bay Area fortress is next:
http://www.doctorhousingbubble.com/short-sales-foreclosures-pasadena-foreclosure-and-short-sale-shadow-inventory-2012/
My prediction - 40% haircut in 3 years or less for BA fortress.
#housing