If you are buying a 1.3M dollar home to rent out the back house for $500 to a poor Chinese student for an “income”, then you are a complete financial idiot!

Do realtors have a warped sense of math? I am guessing many (not all) realtors don’t realize how much they offend the average buyer.

on the other side of the coin… what would of been its price in the year 99 – 2000…

‘Extreme Makeover’ house faces foreclosure:
More than 1,800 people showed up to help ABC’s “Extreme Makeover” team demolish a family’s decrepit home and replace it with a sparkling, four-bedroom mini-mansion in 2005.
Three years later, the reality TV show’s most ambitious project at the time has become the latest victim of the foreclosure crisis.
After the Harper family used the two-story home as collateral for a $450,000 loan, it’s set to go to auction on the steps of the Clayton County Courthouse Aug. 5. The couple did not return phone calls Monday, but told WSB-TV they received the loan for a construction business that failed.
The house was built in January 2005, after Atlanta-based Beazer Homes USA and ABC’s “Extreme Makeover” demolished their old home and its faulty septic system. Within six days, construction crews and hoards of volunteers had completed work on the largest home that the television program had yet built.
The finished product was a four-bedroom house with decorative rock walls and a three-car garage that towered over ranch and split-level homes in their Clayton County neighborhood. The home’s door opened into a lobby that featured four fireplaces, a solarium, a music room and a plush new office.
Materials and labor were donated for the home, which would have cost about $450,000 to build. Beazer Homes’ employees and company partners also raised $250,000 in contributions for the family, including scholarships for the couple’s three children and a home maintenance fund…

http://tv.yahoo.com/extreme-makeover-home-edition/show/36736/news/urn:newsml:tv.ap.org:20080728:tv_extreme_makeover_foreclosure

http://money.cnn.com/2008/07/28/news/economy/driving/index.htm?cnn=yes

Perhaps you are right because now that people are are staying at home more, they will need a garage to house their gas guzzling SUVs.

I got my car wash after the quake. I’m happy to report the car wash was busy and that the car washing industry is humming along. I imagine that this earthquake will have the same effect on RE as on the car wash industry.

http://www.cnn.com/2008/US/07/29/earthquake.ca/