graphrix_IHB
New member
I feel so good when I see a how come down in price that it is less than it sold for in nominal terms in 1989. I also feel even better when the home is priced less in real terms than it was in 1996. Yes, this home is now priced cheaper than it sold for in the bottom of the last bubble 1996, when adjusting for inflation and in fact is at a loss when you do.
Let me give you a little history lesson about Hillcrest, the neighborhood this home is in. This is where the new money moved to in the late 80s and early 90s. Some famous baseball players and hockey players have lived here, Vladdy lives just down the street, and many executives have lived here. This is where kids love to go trick or treating because they get the good stuff, and when I say good stuff I mean full size candy bars. I remember a few friends of mine that had to move out during the mid-90s because of a "downgrade" in living space. I didn't get it then, but I do now. This was the place to live in Orange in the late 80s, and no one who lived there would live in Irvine because it just wasn't posh enough. However, like options, homes have time decay and lose value the longer they age. Yeah, this place needs some work, but below 89 price in nominal terms and below 96 price in real terms is unheard of... <a href="http://www.redfin.com/CA/Orange/3637-E-Roundtree-Ct-92867/home/4324911">until now</a>.
http://media.cdn-redfin.com/photo/46/bigphoto/282/P705282_0.jpg
Sep 30, 2009 Listed $997,920 -- SoCalMLS #P705282<em>(Holy fawking shite!</em>
Oct 01, 2003 Sold $1,265,000 7.6%/yr Public Records <em>(Cool! I have a housing ATM!)</em>
Dec 12, 1996 Sold $770,000 27.3%/yr Public Records <em>(Buying at the bottom)</em>
Feb 16, 1996 Sold $631,550 -12.6%/yr Public Records <em>(Foreclosed on)</em>
Nov 30, 1989 Sold $1,460,000 -- Public Records <em>(Virgin sale)</em>
Okay... yeah, yeah... I wasn't the only one thinking Tony Montana was gonna come walking down the stairs... I know...
http://media.cdn-redfin.com/photo/46/bigphoto/282/P705282_1_0.jpg
Let me give you a little history lesson about Hillcrest, the neighborhood this home is in. This is where the new money moved to in the late 80s and early 90s. Some famous baseball players and hockey players have lived here, Vladdy lives just down the street, and many executives have lived here. This is where kids love to go trick or treating because they get the good stuff, and when I say good stuff I mean full size candy bars. I remember a few friends of mine that had to move out during the mid-90s because of a "downgrade" in living space. I didn't get it then, but I do now. This was the place to live in Orange in the late 80s, and no one who lived there would live in Irvine because it just wasn't posh enough. However, like options, homes have time decay and lose value the longer they age. Yeah, this place needs some work, but below 89 price in nominal terms and below 96 price in real terms is unheard of... <a href="http://www.redfin.com/CA/Orange/3637-E-Roundtree-Ct-92867/home/4324911">until now</a>.
http://media.cdn-redfin.com/photo/46/bigphoto/282/P705282_0.jpg
Sep 30, 2009 Listed $997,920 -- SoCalMLS #P705282<em>(Holy fawking shite!</em>
Oct 01, 2003 Sold $1,265,000 7.6%/yr Public Records <em>(Cool! I have a housing ATM!)</em>
Dec 12, 1996 Sold $770,000 27.3%/yr Public Records <em>(Buying at the bottom)</em>
Feb 16, 1996 Sold $631,550 -12.6%/yr Public Records <em>(Foreclosed on)</em>
Nov 30, 1989 Sold $1,460,000 -- Public Records <em>(Virgin sale)</em>
Okay... yeah, yeah... I wasn't the only one thinking Tony Montana was gonna come walking down the stairs... I know...
http://media.cdn-redfin.com/photo/46/bigphoto/282/P705282_1_0.jpg