It's half of a duplex, built in 2003. The other half is also in foreclosure, for $79,900. I drove by it after dinner; it looks pretty darn nice from the outside. I can remember when that would have been a down payment on, literally, a ghetto house in California.109 Valley View Horseshoe Bend, ID 83629
3 Bed, 2.5 Bath | 1,230 Sq Ft on 0.06 Acres (2,613 Sq Ft Lot)
Friday, May 28, 2010
Hyperinflation? Or Destructive Deflation?
I can't figure out what is going to happen--but if you have been fortunate enough to sell your overpriced home on the coast and have a few hundred thousand dollars burning a hole in your pocket--heck, look what you can buy for pocket change!
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I think that the price of that property is actually more in line with its realistic value rather than the inflated prices caused by the influx of Californians over the past 20 years. What it would sell for in California is irrelevant. Think about what is is: a 2460 total square foot duplex on less than 1/2 acre for about 135k. The only reason anyone would expect to pay more for that now is because of the inflation that took place over the last 25 years.
ReplyDeleteYup. Reality is beginning to strike.
ReplyDeleteMoving someplace cheaper is an interesting proposition. But the trick is, having a job once you get there. The first rule in rock-climbing is to have a new handhold before you let go of your current one.
ReplyDelete