This is the first decent sub $500k property in one of the areas I'm looking to buy in. The home is in the size range I want, it has the right # of bedrooms and the lot is 1 acre, which is what I want. The only drawback I can see from the pics is that it's a 2 story home and I really would prefer a single story. If this were a decent one story I'd be tempted to throw a lowball at em.
18434 Pinecone LN, Riverside, CA 92504. The home is 3102 sq/ft and has 5 bedrooms and 3 baths. It was last purchased for $860K in Oct 2006. Just over one year later it is listed as a REO property for $499K. I don't know what the bank has into it but I would guess it's way more than $500K. At $499 this property has lost $360K in ONE year!. That's a 42% drop in value in a year.
I still think this property is overpriced, but it's getting closer to what i fell the prices should be in this area. I feel for the size of the home and the size of the lot it would be a decent deal around $400K (if the home is in good shape).
I still think this property is overpriced, but it's getting closer to what i fell the prices should be in this area. I feel for the size of the home and the size of the lot it would be a decent deal around $400K (if the home is in good shape).
6 comments:
Nooooooo!!!! The yard work is going to kill you, unless you are planning to buy a sit down lawn mover. On a second thought... a sit down lawn mover is fun
You obviously have not seen my current yard :-O
Most of the homes in that area have a small landscaped yard and a larger 'au naturale" yard. Dirt don't take much mowin'
I looked at this house today...it is DESTROYED..You better have $75K+ to fix it up.
Looks like it's gone from Redfin, I wonder if some one bought the wreck....
Last sale according to Zillow
Sold 09/06/2007: $695,714
There wasn't a sign in front when I looked. I just walked around the property, but damn it was F-ed up. This thing is in a sweet neighborhood though.
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