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Author: Dwdonhoff Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 128112  
Subject: Re: house poor? Date: 2/13/2003 3:40 PM
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Hi M,

I'm 45, single independent, and a first time prospective home buyer/house hunting, AND I live in Los Angeles!

One house I was considering gouged up to over $65,000 in the 4 1/2 months I was searching on the www.realty.com web site.

It's in foreclosure/the bank has it! And to top it off, in 1990 the very same house sold for $160,000 (courtesy of the Fool's Home Price Check). Remember I said SOLD for, not what it's value was actually assessed at by the tax assessor(www.domania.com listed it's value at $64,500).

The homes in the neighborhood across the street and around the corner shot up from an average of $255,000 to $650,000-$850,000 within a period of 9 months! No, I'm not exaggerating! Most of them are still on the market.

This is mighty confusing, M....

And all in L.A.?

A home available for $65,000? Is that a doll-house? Dog-house? Refrigerator box in the L.A. river wash?

Please do 'splain a bit more?

(You find beaters for $65K and Cath's gonna be on YOU like a duck on a bug!)

Dave Donhoff
National Mortgage Broker/Banker
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