The price declines in Palm Springs are shocking. Here is a 1991 rollback! Yes, 1991. http://www.redfin.com/CA/Palm-Springs/481-W-Sunview-Ave-92262/home/6044211
The price declines in Palm Springs are shocking. Here is a 1991 rollback! Yes, 1991. http://www.redfin.com/CA/Palm-Springs/481-W-Sunview-Ave-92262/home/6044211
Dude, that house was a double bubble participant…
Sales History
Date Price Appreciation
Jul 01, 1988 $6,500
Jun 28, 1991 $65,500 116.6%/yr
Sep 27, 2007 $216,750 7.6%/yr
The buyer in 91 probably saw the value tank to $30k in 1996, at least he/she remembered the last bubble and cashed out, er got foreclosed on.
Troop! Are we going to have to block your Redfin access? Step away from the RE/MLS sites, just walk away, and feel free to rant here. Gawd knows we need someone else other than me.
The price declines in Palm Springs are shocking. Here is a 1991 rollback! Yes, 1991. http://www.redfin.com/CA/Palm-Springs/481-W-Sunview-Ave-92262/home/6044211
well - from the ad:
Fixer ... needs kitchen, HVAC and other systems. ... Unlikely to get lender financing
Sounds like it’s basically a teardown and you’re just buying the lot.
Step, I’m not really sure what the land value is. A quick check of CL turned this up….it’s an R-2 as well and not much further away than the little bungalow.
We were checking in on your progress on this site that you pointed out to us, just to see how things were going for you. (You know you don’t call nearly often enough any more.)
Wanted to let you know that we are thankful that you talked us out of buying that home that we wanted earlier in the year. It has indeed proven to be a very well-informed decision.
I hope you know that we love you unconditionally, but if you buy a house this year, we will be forced to disown you.
You are looking in an overpriced market! Palm Springs has dropped like a rock and this thing is below rental parity for me…...even with the extra A/C and gas cost….. heck, it’s almost at it’s 2003 purchase price, my offer would be for 225K.
Ummm, so what is an R-2 lot? Does it come with half of a little rotund robot?
Actually, it comes with a Roomba.
Really though, R-2 means that you can build more than one structure. R-1 or residential one lots are the typical SFR lots, where as R-2 or residential two lots you can build another structure and rent it out.
Ah, I can picture Ipo when he was young riding in circles in that driveway with his IPOPLAYA license plate attached to his tricycle.
It’s fun to reminisce, isn’t it? Here is the Long Beach apartment building where I lived until I was 7. Dad owned it and rented the other units to senior citizens. Brings back lots of memories.
