Real Homes of Genius: Today We Salute you Inglewood. For $329,000 you get 550 square feet and Garbage on the Lawn.
Now the seller will not kick you down with any money and is selling this place as is. You take it or leave it. I like their style of business negotiating! Not once did I learn that in my business education regarding negotiating and tact. I was told that in a declining market, you were to undercut competitors quickly and be flexible if prices in the future were projected to fall – it was called the cut your losses principle. Maybe I skipped the chapter titled, Put up so much smoke that you’ll think Snoop Dogg was your next door neighbor. Now for those of you outside of
What in the world?! Either this is a joke or an absolute case study on “how not to market a property in a declining housing environment.” Doesn’t the roof remind you of someone making pancakes and the excess batter is running over the sides? I’m sure that I do not need to convince you anymore that this home is worth every penny of the $329,000. In fact, let us take a look at what Zillow values this property at:
Value range of $394,414 to $503,974. So you’re telling me that we can have this mini paradise for $174,974 off retail price? Only in LA can we find fantastic deals like this and the tenacity of folks to panhandle their homes to the public.
We Salute you
Related Posts:
■Real Homes of Genius: Today we Salute Inglewood at $430,000 for a 941 Square Foot Beauty!
■Real Homes of Genius: Today we Salute Inglewood. Bought in 1970 for $20,000 now selling for $397,400.
■Real Homes of Genius: Today we Salute you Pacoima. Zillow says $457,000 but Listed at $225,000?
■Real Homes of Genius: Today we Salute you Santa Ana. 498 Square Feet for $440,000, What a Deal!
■Real Homes of Genius: Today We Salute you Huntington Park. Tweedledum and Tweedledee of housing. $500,000 Homes in Wonderland.
April 29th, 2007 at 2:44 am
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April 29th, 2007 at 4:04 am
I try to avoid the derogatory term “shitbox” - but in this case, its really hard not to. Let me put it this way: If the offer was renting for only a quarter of the expected monthly cost that this imaginary $329000 paying owner has to pay - I still most probably would continue looking elsewere.
April 29th, 2007 at 7:57 am
Jeez, where do the sellers think they’re living: a fancy area like San Jose or something?
http://tinyurl.com/2mlqm7
In the defense of the Inglewood home, it probably IS close to the racetrack and the home of the Lakers! Plus you can rent out the front yard (once the trash is removed) for special event parking at $20 per night. Probably fit 4-5 cars in there, so it’s a moneymaker!
Love the roof, though: I wonder how that one passed the building code inspector? Oh, you say the work was unapproved?
April 29th, 2007 at 8:43 am
To Ben Franklin-
The Lakers play in Los Angeles now and not in Inglewood, so the apecial event parking idea is out the window.
Working With Real Estate Investors
April 29th, 2007 at 10:22 am
Dr. Housing Bubble,
I have been reading your “real homes of genius” section and I think it does the finest job of identifying the existence of a bubble like no bubble before it.
Imagine a family (dad, mom, three kids) moving from out of state, to California. California’s idea of a “starter home” is, at this point, $500K. This five member family, who needs more space than a condo, is relegated to finding a home in either Huntington Park, or Compton, or Santa Ana, or East LA,or Inglewood, just to afford a “starter home”. Would they move to any of those places? Of course not.
They’d rent in a nice neighborhood where bullets don’t fly through windows randomly.
California was always more expensive than the rest of the country, but not THIS more expensive. I remember in 1997 laughing at an ad for a four bedroom home in Compton that was listed at $199K, thinking, who in the hell would pay that price to live in Compton? Of course a four bedroom in Compton today would be, what, $600K or more?
Please keep doing what you’re doing. Not just for the comic relief, but because people in CA have to wake up, sooner or later.
April 29th, 2007 at 10:39 pm
Seems fitting to point out that the South Central L.A. riots decimated this area, only 15 years ago today. How quickly people forget that they’re sitting on a powder keg…
April 30th, 2007 at 7:09 am
The roof is designed like that. It is for “gentle and artistic runoff of rainwater”. Makes neat patterns in the dirt.
That house is worth the money because of the interesting patina it has formed. You couldn’t build that house accurately, only time can shape it! That alone folks, is worth the price of admission.
Besides, it IS Southern California!!!!!
April 30th, 2007 at 5:36 pm
I think this one is the best yet for your homes of genius: http://www.redfin.com/stingray/do/printable-listing?listing-id=614292
Price: $900,000
2504 CORTEZ ST
OXNARD, CA 93036-1636
May 4th, 2007 at 10:37 pm
That pancake roof comment actually made me laugh out loud, and I have not been drinking. This is HILARIOUS.