Comments on: $700k and 4 blocks from Monrovia http://www.arcadiahousingblog.com/2008/08/15/700k-and-4-blocks-from-monrovia/ Tracking the Arcadia and San Gabriel Valley Housing Market Sat, 31 Jul 2010 04:35:12 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: T K Eng http://www.arcadiahousingblog.com/2008/08/15/700k-and-4-blocks-from-monrovia/comment-page-1/#comment-4191 T K Eng Fri, 15 Aug 2008 23:08:27 +0000 http://www.arcadiahousingblog.com/?p=638#comment-4191 Thank you for profiling the reasonably priced property on Canyon. W/alt-A loans resetting and unemployment rate climbing, I hope to see more and more buyer friendly postings on this website. Although I need to buy a home for my family, I also have a duty to my wife and kids to not burn our life savings on some ponzi scheme. Speaking of scams, I'd love to hear your opinion on this property- http://www.redfin.com/CA/Arcadia/239-W-Norman-Ave-91007/home/7237774 This appears to be a fabulously built McMansion, totally suited to the taste of foreign government officials and their family members. But unless the place is minted w/gold and diamonds, the $5.5 mil price seems a bit high for a home south of Naomi. Thank you for profiling the reasonably priced property on Canyon. W/alt-A loans resetting and unemployment rate climbing, I hope to see more and more buyer friendly postings on this website. Although I need to buy a home for my family, I also have a duty to my wife and kids to not burn our life savings on some ponzi scheme. Speaking of scams, I’d love to hear your opinion on this property-

http://www.redfin.com/CA/Arcadia/239-W-Norman-Ave-91007/home/7237774

This appears to be a fabulously built McMansion, totally suited to the taste of foreign government officials and their family members. But unless the place is minted w/gold and diamonds, the $5.5 mil price seems a bit high for a home south of Naomi.

]]> By: missedthebubble http://www.arcadiahousingblog.com/2008/08/15/700k-and-4-blocks-from-monrovia/comment-page-1/#comment-4184 missedthebubble Fri, 15 Aug 2008 16:27:52 +0000 http://www.arcadiahousingblog.com/?p=638#comment-4184 Yeah, so this isn't a bad nieghborhood, but to go with what george8 said, the potential buyer will have to make north of 120K a year, and May 2010 this house is worth $275k to $325k in todays dollars. Yeah, so this isn’t a bad nieghborhood, but to go with what george8 said, the potential buyer will have to make north of 120K a year, and

May 2010 this house is worth $275k to $325k in todays dollars.

]]> By: george8 http://www.arcadiahousingblog.com/2008/08/15/700k-and-4-blocks-from-monrovia/comment-page-1/#comment-4182 george8 Fri, 15 Aug 2008 13:44:30 +0000 http://www.arcadiahousingblog.com/?p=638#comment-4182 You are probably right about someone buying this at $650k. However, it will take north of $130k income to finance $520k mortgage assuming the buyer puts down 20%. In a sharply declining market, does it make sense for the buyer? I'd dare to guess no. At least not yet. You are probably right about someone buying this at $650k. However, it will take north of $130k income to finance $520k mortgage assuming the buyer puts down 20%.

In a sharply declining market, does it make sense for the buyer?

I’d dare to guess no. At least not yet.

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