3349 Oakhurst Ave Los Angeles, CA 90034 Update
November 9, 2008 by admin
PRICE UPDATE:
We featured this REO property on October 9th 2008, one month ago. It was originally listed at $534,900.
Checking up on the property today, I noticed there was a significant price drop. It’s now listed for $509,900. So, in one month the home has been reduced $25,000.
Quick Sales History:
July-00 $325,000 Sale (fixed)
February-02 $395,000 22% Sale (variable)
July-03 $391,200 -1% Trustee sale
March-04 $485,000 24% Sale (variable)
May-06 $699,277 44% Refinance
August-08 $549,066 -21% Bank Buy Back
The bank bought this house back $549,066 in August 2008. It would not surprise me if this home stays on the market for a couple more months and is finally sold for about $350,000.
Get more info at Redfin.com
Bottom line: the Real Estate bubble is over and the markets are now returning to sound economic principles. This drastic pricing will only further the downward pressure on all home prices in Los Angeles, California and beyond.
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