Wednesday, June 06, 2007

They want $1.2 million for this

This property at 4122 Naatab is a block away from me. It has been remodeled. I cannot tell how long the current owners have had the property.

The house is somewhat over 1500 square feet, but sits on a (what is considered) a large lot that would fit 2 bloatominiums. So maybe the owners are really trying to attract a potential builder even though the place has been remodeled.

The house was listed about April 10 for $1,275,000. It was *reduced* down to $1,199,000 on June 4.


Blogger bearmaster said...

I've been finding new inventory on Zip Realty and Craigslist at the rate of 5 a day for Redondo Beach.

May charts will go up earliest Friday night.

9:46 PM, June 06, 2007  
Blogger Rob Dawg said...

Anyone with $1.2m is not going to live in that. Remodel or polyminium potential only.

8:32 AM, June 07, 2007  
Blogger bearmaster said...

Well we've known for a long time now that people are pretending to own property because they are borrowing way beyond their means - why the heck would anybody who actually has $1.2 million even touch this? :)

8:42 AM, June 07, 2007  
Blogger Rob Dawg said...

If you had access to $3m and a friend on the city council you could cram a 6plex on this postage stamp and rent them out for $12k per month and ummm, lose money. Yeah, yeah but the appreciation. Think of the appreciation. Okay, you aren't stupid and neither am I but there is somebody out there that is that stupid and they will buy this POS. BTW, I only think this is a POS because a callous city allowed this poor owner to be canyonized.

10:19 AM, June 07, 2007  
Blogger wannabuy said...

That price is amazing. The lot is only worth it if the view is great.

And you can sell to a builder...

The credit crunch is happening slowly... Its like a glacier that has broken free but is still moving so slowly kids are jumping to and from hit for the "sport."

Very interesting find.

Oh, I'm back... ;)
Got popcorn?

12:52 PM, June 07, 2007  

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