Check out the $$$ Property History on this home

[DBS.US]

1236 North FAIRFAX Ave
West Hollywood, CA 90046

http://www.redfin.com/CA/West-Hollyw...6/home/7106315

[CyberHustler]

Aug 17, 2005 Sold (Public Records) $1,350,000
Aug 31, 2011 Sold (MLS) (Closed) $441,500

Somebody mad...

[sweetcuties]

No wonder why the guy walked away... there's many properties out there like that

[ottopottomouse]

Looks a shithole from outside, whoever bought it in 05 was nuts.

[96ukssob]

thats happening all over. so glad i walked away from a condo in Santa Monica I was going to buy in 2007. Asking price then was $680,000 and saw a few now selling for high $400's

[Nydahl]

real estate down all around the europe too but still pretty far from what happens in US.
Have talked with my friends by the lunch time today about possible buying some flat in Las Vegas for 30K ? - jesus its hard to believe - even if you use that just for few weeks in a year to play a poker bit or something.

[L-Pink]

Perfect house for "Jewish lightning" to hit.

.

[CyberHustler]

Originally Posted by L-Pink

Perfect house for "Jewish lightning" to hit.

.

[V_RocKs]

1971 - $28,500

[JamesGw]

That's really not uncommon at all. It's pretty harrowing, really.

[IllTestYourGirls]

That is the way it is everywhere. Ive been looking to buy. I see houses start on the market around $500k and creep all the way down to $300k and either they sell or pull them off. Right now I am looking at one that started at $375k and the asking price is now only $199k. Almost the best time to buy.

[RaiderCash_Dominik]

Good time for buyers.

[garce]

Originally Posted by IllTestYourGirls

That is the way it is everywhere. Ive been looking to buy. I see houses start on the market around $500k and creep all the way down to $300k and either they sell or pull them off. Right now I am looking at one that started at $375k and the asking price is now only $199k. Almost the best time to buy.

Not up here, sad to say.

[Jon Oso]

Originally Posted by RaiderCash_Dominik

Good time for buyers.

Generally speaking, yes. I bought a house 2 months ago and only found ONE house out of over 100 properties in my price range that wasn't a total pile of shit.

Most of the houses were gutted, wiring ripped out of walls, or were gorgeous remodels in REALLY shitty neighborhoods.

[DBS.US]

Priced at $441,599 I'll pass on this one.

[L-Pink]

Originally Posted by DBS.US

Priced at $441,599 I'll pass on this one.

That's a $75,000 home where I come from.

.

[Kenny B!]

Amazing it's still worth so much for a dump like that, go to Phoenix and you'll be living like a king for that money

[punker barbie]

Great location and thats about it. Feel bad for the guy who bought it in 05.

ps) LOVE redfins app.

[sweetcuties]

Originally Posted by DBS.US

Priced at $441,599 I'll pass on this one.

Shit, that's 25-50k where I'm at

[leedsfan]

Originally Posted by sweetcuties

Shit, that's 25-50k where I'm at

you must live in hell....





































......Detroit?

[d-null]

Originally Posted by DBS.US

Priced at $441,599 I'll pass on this one.

that place in Vancouver would be over $500,000

[My Pimp]

It is not worth 1,3 million. They paid too much.

[~Ray]

check out prices in Vegas for almost new houses. we are 47th worst state, but have really nice homes sitting vacant.

http://www.redfin.com/homes-for-sale...e=6&sf=1,2&v=6




example:
http://www.redfin.com/NV/Las-Vegas/3.../home/29104524

[_Richard_]

Originally Posted by d-null

that place in Vancouver would be over $500,000

[GTS Mark]

Christ that's just terrible!

[CYF]

Originally Posted by DBS.US

Priced at $441,599 I'll pass on this one.

Originally Posted by L-Pink

That's a $75,000 home where I come from.

.

Originally Posted by sweetcuties

Shit, that's 25-50k where I'm at

That's like 80-100k here in the Minneapolis metro area.

[directfiesta]

Originally Posted by Kenny B!

Amazing it's still worth so much for a dump like that, go to Phoenix and you'll be living like a king for that money

Looks like a drive by hood ....

Bullets must fly ...

[AdultKing]

Small single level terrace cottage 3km from the Melbourne CBD.
1 Bedroom plus study or small second bedroom.
Laneway access to roller door revealing a car sized rear yard.
No on street parking without a permit.

$822,000.

It's not going to go down in price any time soon either.

[marcop]

Originally Posted by IllTestYourGirls

Almost the best time to buy.

The best time to buy is when the market starts going up again--it may keep declining in your area for months or years to come, and you're not a genius so you can't tell exactly when your local market will turn around. Would you buy a stock if you thought it would decline in value for six/nine/twelve/twenty-four months? You'd be an idiot if you did--so why buy an illiquid asset like real estate with under similar conditions?

[Adam_M]

Sold twice in 1 month for $950, and $1,350k. More to the story I think

[Matt 26z]

What I don't understand is how people have $500k or $1m to spend on these homes that are dumps, yet don't invest in cleaning them up.

[Mutt]

must be a desirable area of LA for a dump like that to have ever sold for 1M. probably bought by speculator/developer who was going to tear it down - hope so anyway, just can't imagine anybody who can afford a million for a house deciding that was the house for them.

it's still a dump at 440K - in most cities that house is 80-150K at most.

[crockett]

who would pay 400k for that dump let alone the 1,3 mil.

[Mr Pheer]

Originally Posted by ~Ray

check out prices in Vegas for almost new houses. we are 47th worst state, but have really nice homes sitting vacant.

http://www.redfin.com/homes-for-sale...e=6&sf=1,2&v=6




example:
http://www.redfin.com/NV/Las-Vegas/3.../home/29104524

Somebody could have scored this one right across the street from my house in Vegas.

http://www.redfin.com/NV/Las-Vegas/7.../home/29146009

I'm glad I bought my place there before the real estate shit happened, I'm still doing ok with it.

[BareBacked]

Originally Posted by Mr Pheer

Somebody could have scored this one right across the street from my house in Vegas.

http://www.redfin.com/NV/Las-Vegas/7.../home/29146009

I'm glad I bought my place there before the real estate shit happened, I'm still doing ok with it.

Dam what is that 1/3 of what it was worth at the peak?

[will76]

Originally Posted by ottopottomouse

Looks a shithole from outside, whoever bought it in 05 was nuts.

The people who always buy at the height of a bubble always get screwed. That is no different in real-estate as it is in stocks, gold or anything else. The last person before the bubble popped way over paid, then as you can see he stopped paying the note at some point and the bank finally sold it for less than 1/2 5 years later. I am sure the bank took a big hit too as it is very unlikely the person put down 20% much less 50%+

Everyone saying it's a dump.... The property does look like a shit hole but most of it's value is very likely from it being commercial property and the land is worth a lot more than the actual building, which looks like a good candidate for a tear down.

[ShellyCrash]

I think we've hit the bottom, no? Or at least it seems that way looking at prices here in Tampa Bay. It's come up a little bit from what I've seen so IMO seems like a good time to buy but still an awful time to sell.

The foreclosures are pretty wild. There are some homes in some really nice neighborhoods at some amazing prices around here but they've been ripped up and neglected so bad I wouldn't know where to start.

[Theo]

far from bottom

[L-Pink]

Originally Posted by ShellyCrash

I think we've hit the bottom, no? Or at least it seems that way looking at prices here in Tampa Bay. It's come up a little bit from what I've seen so IMO seems like a good time to buy but still an awful time to sell.

The foreclosures are pretty wild. There are some homes in some really nice neighborhoods at some amazing prices around here but they've been ripped up and neglected so bad I wouldn't know where to start.

And a couple summers closed up without air conditioning means severe mold problems.

.

[camperjohn64]

Originally Posted by Adam_M

Sold twice in 1 month for $950, and $1,350k. More to the story I think

Read again: Sold twice on SAME DAY. Sounds like there is some shannigans going on with someone getting $400k from the bank and running to Europe.

[camperjohn64]

Originally Posted by ~Ray

check out prices in Vegas for almost new houses. we are 47th worst state, but have really nice homes sitting vacant.

http://www.redfin.com/homes-for-sale...e=6&sf=1,2&v=6




example:
http://www.redfin.com/NV/Las-Vegas/3.../home/29104524

I love living in San Diego - but MAN those prices are great. And the houses are not much smaller than what I have now.

I got my house at the absolute bottom of the bubble in 2001. Even at the current house prices I have made my money back multiple times over.

[GatorB]

Originally Posted by sweetcuties

Shit, that's 25-50k where I'm at

Same here.

[Si]

Places in Vegas look like some great buys at the moment.

[L-Pink]

Originally Posted by GatorB

Same here.

I read that then noticed your location.

.

[cherrylula]

geez what a dump!! lol

[Phoenix]

thats a 300-400k house up here

if it happens to be in an area with 1.5 2 million dollar homes around it

then maybe 600 or so...its not very big, and looks like crap to boot

[ShellyCrash]

Originally Posted by L-Pink

And a couple summers closed up without air conditioning means severe mold problems.

.

I didn't even think of that but now that you mention it I'm sure.

There's one not to far from me that's really a shame. A really nice house in a gated community, or at least it used to be a really nice house. I know people that used to live across the street from it. This house was the jewel of the neighborhood, huge portico entrance, multiple bars, and one of the only homes I've ever seen with a sand bottom pool. Just felt very lux.

It's been vacant since 09, since foreclosure it's shuffled hands a few times and is now owned by bank of america. The pool has wood over it, so i can only imagine what lies beneath. Its almost heartbreaking to see how much its gone to shit.

Originally Posted by Jesus H Christ

Noway, it's going to get much worse. There are millions of empty homes right now, plus another million in the foreclosure process. Also, this time next year the unemployment benefits for 6 million people won't/can't be extended causing even more foreclosures.

There will be an enormous amount of homes auctioned off next to nothing as banks try to recover what they can. I'd be willing to bet homes prices will fall another 25% at least, in the next 12 months as lenders practically give low interest home loans away to qualified home buyers.

When it breaks, a true bottom will be apparent as people/companies buy real assets causing a rally. If you have liquid, I'd go long and buy home Depot Stock right now, because when the rally hit's, lot's of contractors and new homeowners will be buying home improvement supplies do to homes sitting vacant for so long.

Good point on Home Depot. I hope the bottom doesn't drop again.

[seeric]

If you're buying a house now, you're giving away money. We are far from the bottom.

[flashfire]

Originally Posted by seeric

If you're buying a house now, you're giving away money. We are far from the bottom.

depends where you live