Comments on: Real Homes of Genius: Today we Salute you Huntington Park. Sold 3 Times in 4 Years.

By: CompaJD

CompaJD — Tue, 11 Mar 2008 01:33:33 +0000

Well the reasons are you need 20% down to buy, excellent credit and some assets. People with these three characteristics know what the heck is going on and are more than happy to wait on the fences.

By: SR

SR — Tue, 11 Mar 2008 00:22:03 +0000

Too funny Compa.

That is far from a ‘disirable’ (their spelling) area….but at 1200 sq ft, I am surprised this hasn’t been snapped up.

What a deal, eh?

By: CompaJD

CompaJD — Mon, 10 Mar 2008 19:50:30 +0000

Check this RHG out on homes.com:

9126 Buhman Ave
Downey, CA 90240

Real Estate Agent States:
“Bank owned fixer in best downey location. Sold for $760k in 2007!”

Currently selling at: $315,000.

This house declined 60% in one year. BWWAHAHAHAHAHAHHA.

By: Batman

Batman — Mon, 10 Mar 2008 17:05:33 +0000

I don’t live in California, but just looking at that house, its not even worth the $160,000 that it went for in 2003. I would pay $50,000 at most for it, and that would just be for the cost of the land, sense the house is worthless. I mean come on; 732SF. I’ve lived in bigger and much nicer apartments in far better neighborhoods for far less than the carrying cost of that albatross.

I guess it must be the fine school district for the reason of the house being worth so much…snicker, snicker.

By: tg

tg — Mon, 10 Mar 2008 04:58:48 +0000

The analysis here so far covers the order takers and investors at the bottom and leaves out the Federal Reserve bankers and the Federal Government shills to buy, buy, buy real estate…become part of the ownership society and invest through your pensions and 401k’s in RE derivatives allowed through banking deregulation. The bubble and credit system is being blown up by these rotten debt derivatives apparently now worthless but priced and held in the trillion$…by the huge banks.