Address: 1228 14th #102 - 90404Details: 1 bed/1 bath 798 sq ft condo, $214/month HOA, 1971 building, "stylish remodeled"
Description: Stylish remodeled condo in very nice security building just south of Wilshire. Walking distance to the beach and 3rd street promenade. Stainless steel appliances, enclosed patio, fireplace, large bedroom with huge closets, light wood flooring in living room, seperate tub and shower, 1 parking spot in secure garage, low HOA dues, building has gym and bike storage, pets welcome! Agents please read private remarks before calling.
Purchase History:
11/30/05 - $487,500
11/20/03 - $365,000
Listing History: 5/14/09 - $425,000
Reduced down to $399,000
SOLD: 3/23/10 - $375,000
As far as I'm concerned, this is an outlier for now. It has been rare to see early 2004 rollbacks lately and that is what this is. The location isn't great and the building isn't anything to get too excited about...but it doesn't look like a disaster property either. With all the government programs/incentives, it is interesting to see a property like this roll back so far. I still believe the expiration of the Fed MBS buying program and the expiration of the federal tax credit may help soften prices later this year...but at the same time, California just extended/modified the tax credit on the state level...so kind of murky but we'll see how it plays out.
Ouch. I feel for the previous owner.
ReplyDeleteIf only he had been unashamed to be a fence sitter and a renter in 2005, he could have saved himself $100,000+.