re: The house that sold for $800K over asking price speaks to the inequity of California

I do fee appraisals for residential and commercial properties in southern California. It is insane. My wife's grandfather bought a house in the 60s and it is now worth over $4 million because he put 4 apartments in the back yard of the house. POS houses get sold for well over asking price. A move in ready house is $1.25.

It's ridiculous and I am out of here in the next few years.