2002 Rollback

I live in Old Tonwe Orange and I can't figure out why houses in the Old Towne section haven't dropped much at all... certainly no where near the houses above. I rent a house that sold in 2002 for $450kish and the owners are convinced the house is still worth $900k. There are houses on the market for almost $600 a square foot that haven't budged in price for a year.
 
three sheets said:
I live in Old Tonwe Orange and I can't figure out why houses in the Old Towne section haven't dropped much at all... certainly no where near the houses above. I rent a house that sold in 2002 for $450kish and the owners are convinced the house is still worth $900k. There are houses on the market for almost $600 a square foot that haven't budged in price for a year.
Click to expand...

I have a theroy. It involves ingesting copius ammounts of this:

cocaine1.jpg


After some of the crap they put folks through in Old Town for putting pavers in for a driveway or not following "Neighborhood Code" I would assume catch a parallel case of cancer to what my Grandmother currently has than purchase in Old Town. The neighborhood is lovely, but it's a historical district and that's WORSE than the worst HOA.

I am not particularly picky, which may suprise people. I am a bit libertarian in my politics.
 
no_vaseline said:
freedomCM said:
Isn't that in No-Vas's circle of death?
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It is, and it belongs there.
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These houses in these bad neighborhoods only show how nutty in the head folks who bought them at the peak were. Over half a million dollars...here? Craziness. I'm glad to see they are beginning to be close to the prices they deserve.
 
17% less than 2002 price in Tustin. Not good Tustin, but still Tustin.

16641 Townhouse Dr

Tustin, CA 92780

Price: $156,000

Beds: 3

Baths: 2

Sq. Ft.: 1,260

$/Sq. Ft.: $124

Property History

Dec 02, 2008 Price Changed $156,000 -- SoCalMLS #U8004860

Oct 30, 2008 Listed $163,900 -- SoCalMLS #U8004860

Aug 27, 2008 Sold $148,900 -4.0%/yr Public Records

Sep 09, 2002 Sold $190,000 38.5%/yr Public Records

Sep 12, 2001 Sold $137,600 3.2%/yr Public Records

Jul 06, 1994 Sold $110,000 0.9%/yr Public Records

Mar 08, 1989 Sold $105,000 -- Public Records

http://www.redfin.com/CA/Tustin/16641-Townhouse-Dr-92780/home/4492883

http://i-0.rfimg.us/photo/46/bigphoto/860/U8004860_1_0.jpg
 
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