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(Zillow)   Apparently, nobody wants to pay 3$ million for a cruddy house in Lakeside California. Price cut $2 million   (zillow.com) divider line
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1573 clicks; posted to Business » on 02 Dec 2021 at 2:22 PM (24 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



Voting Results (Smartest)
View Voting Results: Smartest and Funniest

 
2021-12-02 12:09:13 PM  
18 votes:
Is there a decent reason for the continued greening of these zillow links? Are they really all that interesting?
 
2021-12-02 2:51:16 PM  
10 votes:

Officer Collins: Tax Assessment
2021--$434,821

Still asking over double the assessed value.


In some places, tax assessments do not attempt to match market value. I expect CA prop 13 might be applied in part by especially extreme deviation from current market value.
 
2021-12-02 2:42:37 PM  
7 votes:
Tax Assessment
2021--$434,821

Still asking over double the assessed value.
 
2021-12-02 12:18:28 PM  
5 votes:
Apparently, nobody wants to pay 3$ million for a cruddy house in Lakeside California. Price cut $2 million


For more than 20 acres, just west of Poway? If you've got a million and more to build and remodel, that's a hell of a deal.
 
2021-12-02 2:45:38 PM  
5 votes:
Paying for land, I get.  But that house?  Less than 2000 sqft, only 2 car garage, a largely rectangular floor plan, and what looks like a painted concrete yard?  It's basically a glorified double wide.  And right in the middle of what looks like wildfire country.  I can't imagine that being worth even 1m, except maybe to a developer intending to drop a subdivision around the house.
 
2021-12-02 3:05:08 PM  
5 votes:
Lakeside?  That landscaping doesn't make me think "water is abundant."
 
2021-12-02 6:49:49 PM  
3 votes:

Officer Collins: Tax Assessment
2021--$434,821

Still asking over double the assessed value.


In California, the assessed value has nothing to do with what the house is worth, due to prop 13.  A house gets reassessed when sold, but then the legal value can not rise more than 2% a year, even if the value goes up 20%.  Then, if the value goes up 20% again, it still can only go up 2%.  After a decade of ownership (or even less), the house will frequently be on the books for less than half what it's worth.

I bought my California house in 2009 for $150k.  I don't remember the legal assessed value of it off the top of my head, but it's a hell of a lot less than the $500k or so it's worth today (probably under $200k).
 
2021-12-02 2:31:17 PM  
1 vote:

sleze: Badmoodman: Apparently, nobody wants to pay 3$ million for a cruddy house in Lakeside California. Price cut $2 million


For more than 20 acres, just west of Poway? If you've got a million and more to build and remodel, that's a hell of a deal.

I wouldn't say it is cruddy.  It isn't a bad house, just expensive.  That said, which lake is it next to?


A wildfire I'm guessing.
 
2021-12-02 2:51:23 PM  
1 vote:

Murflette: Is there a decent reason for the continued greening of these zillow links? Are they really all that interesting?


Subby is a fan of Zillow gone wild Twitter/gram account...but this being fark it's a couple days behind
 
2021-12-02 3:18:06 PM  
1 vote:
Is that a dirt driveway?
 
2021-12-02 3:51:08 PM  
1 vote:

Murflette: Is there a decent reason for the continued greening of these zillow links? Are they really all that interesting?


Yes, don't yuck my yum.
 
2021-12-02 4:01:41 PM  
1 vote:
Normally, I couldn't afford a house in Southern California even if I won the lottery. At last, there is one I could afford... if I won the lottery.
 
2021-12-02 5:39:23 PM  
1 vote:

uncoveror: Normally, I couldn't afford a house in Southern California even if I won the lottery. At last, there is one I could afford... if I won the lottery.


I feel that southern CA is highly overrated. I like it up closer to the Oregon border. There is a bit more open space, slightly fewer people, and more reasonable property prices.
 
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