Comments on: Condos on Huntington Dr. http://www.arcadiahousingblog.com/2008/05/12/condos-on-huntington-dr/ Tracking the Arcadia and San Gabriel Valley Housing Market Thu, 20 Nov 2008 09:36:45 +0000 http://wordpress.org/?v=2.5.1 By: Matt http://www.arcadiahousingblog.com/2008/05/12/condos-on-huntington-dr/#comment-2299 Matt Tue, 13 May 2008 05:34:03 +0000 http://www.arcadiahousingblog.com/2008/05/12/condos-on-huntington-dr/#comment-2299 Actually, oil production has reached a peak amount worldwide. Oil prices have been steadily rising since 2002. Most major oil fields are in production decline. Actually, oil production has reached a peak amount worldwide. Oil prices have been steadily rising since 2002. Most major oil fields are in production decline.

]]> By: AKR http://www.arcadiahousingblog.com/2008/05/12/condos-on-huntington-dr/#comment-2297 AKR Tue, 13 May 2008 01:06:44 +0000 http://www.arcadiahousingblog.com/2008/05/12/condos-on-huntington-dr/#comment-2297 Commodity bubble!!! Oil, natural gas, corn, rice.... This bubble will be worse than the housing bubble. Commodity bubble!!!
Oil, natural gas, corn, rice….
This bubble will be worse than the housing bubble.

]]> By: TheArcadian http://www.arcadiahousingblog.com/2008/05/12/condos-on-huntington-dr/#comment-2296 TheArcadian Mon, 12 May 2008 21:12:45 +0000 http://www.arcadiahousingblog.com/2008/05/12/condos-on-huntington-dr/#comment-2296 I think it will be easier for house prices to drop than for gas to come down. Thanks for pointing out that this complex is actually a condo conversion! I think it will be easier for house prices to drop than for gas to come down.

Thanks for pointing out that this complex is actually a condo conversion!

]]> By: missedthebubble http://www.arcadiahousingblog.com/2008/05/12/condos-on-huntington-dr/#comment-2293 missedthebubble Mon, 12 May 2008 18:24:23 +0000 http://www.arcadiahousingblog.com/2008/05/12/condos-on-huntington-dr/#comment-2293 How was everyones weekend? We have RE massive depreciation, in the face of inflation of commodities. When you show a condo like this, I find it hard pressed to argue this apartment condo conversion being worth 400k. This is a sub 200k property, especially in these economic times with the vacancy rate and the # of foreclosures setting records every month. However, one thought that kept on occurring to me this weekend, was when gas prices hit $6 or even $8 bucks a gallon, what will change. Interesting times.... How was everyones weekend?

We have RE massive depreciation, in the face of inflation of commodities.

When you show a condo like this, I find it hard pressed to argue this apartment condo conversion being worth 400k. This is a sub 200k property, especially in these economic times with the vacancy rate and the # of foreclosures setting records every month.

However, one thought that kept on occurring to me this weekend, was when gas prices hit $6 or even $8 bucks a gallon, what will change.

Interesting times….

]]> By: TheArcadian http://www.arcadiahousingblog.com/2008/05/12/condos-on-huntington-dr/#comment-2292 TheArcadian Mon, 12 May 2008 16:17:45 +0000 http://www.arcadiahousingblog.com/2008/05/12/condos-on-huntington-dr/#comment-2292 I agree. I just meant the type of buyer that would consider this type of property. $254k is a reasonable price. It accounts for the bubble run-up and the increase of rents over the last several years (thus, 150 GRM). I agree. I just meant the type of buyer that would consider this type of property. $254k is a reasonable price. It accounts for the bubble run-up and the increase of rents over the last several years (thus, 150 GRM).

]]> By: george8 http://www.arcadiahousingblog.com/2008/05/12/condos-on-huntington-dr/#comment-2291 george8 Mon, 12 May 2008 14:08:03 +0000 http://www.arcadiahousingblog.com/2008/05/12/condos-on-huntington-dr/#comment-2291 >>. Someone using it as a primary residence and perhaps rent out a room or a cash flow investor<< Yes, you are right. However, at or near the asking price, neither makes any sense. A knife catcher for any reason will suffer at least $30k/year equity loss for years to come until it sells at around GRM of 150, which is $254k. ($1695x150) By the way, 909 sf plan for 2 bed and 1.75 bath and someone else above or below you? This in not desirable as a longer term primary home at all. It is by nature a rental unit. In 2-3 years, $400k can buy 2 units. >>. Someone using it as a primary residence and perhaps rent out a room or a cash flow investor<<

Yes, you are right. However, at or near the asking price, neither makes any sense. A knife catcher for any reason will suffer at least $30k/year equity loss for years to come until it sells at around GRM of 150, which is $254k. ($1695×150)

By the way, 909 sf plan for 2 bed and 1.75 bath and someone else above or below you?

This in not desirable as a longer term primary home at all. It is by nature a rental unit.

In 2-3 years, $400k can buy 2 units.

]]> By: george8 http://www.arcadiahousingblog.com/2008/05/12/condos-on-huntington-dr/#comment-2289 george8 Mon, 12 May 2008 13:28:44 +0000 http://www.arcadiahousingblog.com/2008/05/12/condos-on-huntington-dr/#comment-2289 No way. Anyone who does should have their head completely checked out. It is asking such ridiculous price like the the bubble were still inflating. Let it sit and rot. No way. Anyone who does should have their head completely checked out.

It is asking such ridiculous price like the the bubble were still inflating. Let it sit and rot.

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