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Started By
Message
Posted on 3/28/15 at 1:21 am to White Roach
quote:
You can either have a view of your pond in North LA for X dollars that is pretty much always going to be worth X dollars, or you can have a view of the Pacific Ocean for a million two, that'll more than likely be worth a million five in a few years. Which one is really the smart investment?
Or you can be under water on a $1.2 million mortgage after the next tech/real estate downturn, which could easily happen within the next few years.
This post was edited on 3/28/15 at 1:22 am
Posted on 3/28/15 at 1:46 am to OFWHAP
If you bought at the top of the local real estate market and had a zero down mortgage...
All financial markets have some degree of volatility. My point is that San Francisco isn't getting any bigger and the Pacific coastline isn't getting any longer. In the long term, that property value is going nowhere but up.
All financial markets have some degree of volatility. My point is that San Francisco isn't getting any bigger and the Pacific coastline isn't getting any longer. In the long term, that property value is going nowhere but up.
Posted on 3/28/15 at 6:34 am to atchafalaya
deer stand
you hunt ducks out of a blind
you hunt ducks out of a blind
Posted on 3/28/15 at 6:47 am to FT
quote:
I honestly see tons of potential to make that place really nice, but yeah, that's insane money.
Yeah, definitely. I'm assuming if the new owners spent 1.2 mil to buy a place like that, they also have a nice rehab budget.
Place could be badass with new flooring, plumbing, cabinetry, etc.
Posted on 3/28/15 at 6:50 am to RogerTheShrubber
quote:
They'll tear it down and build something else.
It's hilarious that some people think they paid for the structure.
Posted on 3/28/15 at 7:20 am to atchafalaya
So? Old 3 bedroom shacks in BR Mid City with only ONE bathroom are going for well over 200k.
Posted on 3/28/15 at 7:58 am to TigerGman
It's a steal, yeah tear that shite down and build something else, profit
Posted on 3/28/15 at 9:19 am to atchafalaya
I think its a badass house.
Could use some cleaning up but it looks awesome.
Could use some cleaning up but it looks awesome.
Posted on 3/28/15 at 9:43 am to atchafalaya
That's insane.
It's no wonder that Congresswoman, Nancy Pelosi is so out of touch with reality when the economics of her home town are this out of balance with the rest of the nation.
It's no wonder that Congresswoman, Nancy Pelosi is so out of touch with reality when the economics of her home town are this out of balance with the rest of the nation.
Posted on 3/28/15 at 9:55 am to LSUwag
2,000 sq ft houses on cracker Jack box lots with Middle East streets go for 700k in Lakeview New Orleans, where there is like 2 restaurants and 3 bars within walking distance How are people surprised that a place in San Fran with ocean views goes for 1.2?
Posted on 3/28/15 at 10:18 am to Tigertown in ATL
they'll spend 700-800k tearing it down and building a 3 story state of the art home that will be worth 2.5 mil
no brainer
no brainer
Posted on 3/28/15 at 11:05 am to atchafalaya
I'd love to have that old range in that kitchen.
Posted on 3/28/15 at 11:13 am to Tigertown in ATL
quote:
It's hilarious that some people think they paid for the structure.
Right, unless there's historic or cultural significance that thing is coming down.
Posted on 3/28/15 at 11:21 am to LSUwag
quote:
the economics of her home town are this out of balance with the rest of the nation.
not out of whack for any property near the water, I actually think that's low for SF prices, I bought a house in FL for $500k in '97, sold it 4 years later for $1.6mil and the people representing the new owners called from closing to tell them it was OK to crank up the bulldozers, pretty typical waterfront transaction
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