Housing doom and gloom - ENOUGH already !!
- Thread starter Joab
- Start date
Took my kid to school this morning and right in front of the school there is a house with a sign "Bank Repo"
5013 Dobkin Ave Tarzana CA 91356
This is prime area in Tarzana, I hope rich New Yorkers are on their way to save us.
Some sale history from Zillow
Sale History
07/24/2007: $667,107 *
08/23/2006: $795,000
01/20/2004: $520,000
Offered today at 576K
about 27% drop from 795K it was sold in 2006.
http://www.zillow.com/Charts.htm?chartDuration=10years&testAds=false&zpid=19949558
good luck
Edit: Zillow estimated price 853K
5013 Dobkin Ave Tarzana CA 91356
This is prime area in Tarzana, I hope rich New Yorkers are on their way to save us.
Some sale history from Zillow
Sale History
07/24/2007: $667,107 *
08/23/2006: $795,000
01/20/2004: $520,000
Offered today at 576K
about 27% drop from 795K it was sold in 2006.
http://www.zillow.com/Charts.htm?chartDuration=10years&testAds=false&zpid=19949558
good luck
Edit: Zillow estimated price 853K
Price is lowered to $465
Rich New Yorkers come and save us.
Rich New Yorkers come and save us.
Quote from balda:
Thank you for the education. But why do I need to use zillow or speak to a real estate agent?
go to realtor.com
this is house in tarzana listed for 489K
http://www.realtor.com/search/listi...a&pg=4&lid=1093853203&lsn=38&srcnt=255#Detail
this is details on the same house from zillow
estimated value 623K. Is this home owner is out of his mind offering his house for 134K below zillow estimate?
http://www.zillow.com/HomeDetails.htm?zprop=19933701
Edit:
info from zillow
last sold 9/02/2005 for 699K this is exactly 30% drop.
let me know and I will find you more withing minutes.
looks like home owner got tired doing laundry all alone and went back to renting.
No, the normal ratio is more like a median of 8 to 1, but we hit about 15 to 1 in this bubble.
10 to 1 is the top of the previous bubble. We are still above that.
If we hit the trough, like we did after previous bubbles, then we are looking at 7 to 1
Using a 55K median income,...
Todays 605K home needs to go to 440K to reach an 8 to 1 ratio.
If we drop to 7 to 1, then it will drop to 385K
Too bad you are already wrong.
Im watching san diego homes hit 2003 prices as we speak. Here is one of many examples
Its perfectly accurate when it records a SALE though. See the little circle with the $$$ in it??? Thats not an estimate. Thats the actual sale price.
The zestimate is horribly lagging though. The market is well below the zestimate.
No problem. Lets ignore the blue line. The very first home I pulled up showed a sale price lower than its 2003 price.
We clearly are hitting 2003 prices already in san diego all over the place and we will go lower.
Picked up the local home trader. Page after page after page of banked owned property, its crazy.