https://twitter.com/annehelen/status/740937134673039361
https://twitter.com/annehelen/status/740937134673039361
Yup, that's the state of real estate in CA. Here is a better link:
http://www.zillow.com/homedetails/541-Norwich-Dr-West-Hollywood-CA-90048/20517206_zpid/
1 million... ouch. (even ignoring the dead guy)
Based on the Street view:
it looks like it's a bit of on upscale neighborhood (it's right off of Melrose Ave).
In reply to aircooled:
Ah, thanks for cleaning up my link. My brother sent it to my phone and I didn't do a great job linking it. Appreciate the assist!
I'm curious to know whether the house will be refurbished or bulldozed and a new one built.
In reply to JamesMcD:
It's stated in the ad that the asking price is based off of the land value only.
California real estate prices blow my mind.
spitfirebill wrote: California real estate prices blow
ftfy
Likely they won't bulldoze it (to many permit issues). They will probably either strip it out and rebuild or mostly disassemble and rebuild. If you leave one wall up, you avoid a lot of permitting.
If i had a million I would rather buy ten vipers than a house
What are the three most important things in real estate? I ate at a Norm's on La Cienega just a few blocks from there, it's a nice area. Even if you gut the thing entirely, that's a really good price for West Hollywood. How much can it cost to do a complete gut and remodel on a 1000 sf house?
fireball123 wrote: If i had a million I would rather buy ten vipers than a house
I'd drive a sportscar just to prove that I'm a real big baller and I made a million dollars.
fireball123 wrote: If i had a million I would rather buy ten used vipers and a house somewhere not in California
FTFY
If I had a million dollars to spend on a house within 30 minutes of Green Bay/Appleton, I'd probably have 40-60 acres, 3000+ square foot house, a horse barn, and pole barn shop.
California prices are crazy.
For comparison's sake: http://www.realtor.com/realestateandhomes-detail/6953-Shanty-Rd_Greenleaf_WI_54126_M80020-55947#photo6
Yeah, a quick search locally found this place. $850,000 and you get your own runway and hanger to complement the 5,700 sq ft house on just 18 acres.
I've actually been in this house and it's REALLY nice (in an awesome 70's sort of way).
http://www.lbar.com/property/2622-Bethlehem-Road-Paris-KY-40361_1604117.html
In reply to KyAllroad:
All that and all he can afford is a 62 Cessna Skyhawk?
Hey, the zestimate is at a million three - so the asking price could be a bargain 
. 6,000 sf lot - pretty compact property.
SEADave wrote: How much can it cost to do a complete gut and remodel on a 1000 sf house?
This. National average is ~$150/sf. Having to average that into a smaller home likely closer to ~$200/sf. Even if you double that for market and doing higher end pieces, and even at $400/sf. you'd spend less than $400K on reconstruction.
So, for <$1.5M in a neighborhood that likely easily supports the price, you'd end up with a brand spanking new place with whatever details you pick.
location location location.
...and I also enjoy my Michigan cost of living.
In reply to xflowgolf:
Just imagine would you could afford if you went to the UP! It might as well be the Northwest Territory
Although I understand the sticker shock some people experience when they look into California home prices, just realize that we’re in a free market system…the instant the prices actually do get too high, supply will exceed demand and the prices will quickly settle down to what the market thinks is fair.
I’m 51, lived in California my whole life, and I’ve owned four homes here. I don’t mind the high prices as the probability that they will one day collapse is low so I’m actually getting a nice fall back option in my retirement planning where I can relocate to a comparable home in a less expense state while freeing up a lot of equity if need be.
If I have any regrets, it’s the lack of space…I spent over three times the national average on my current home and yet all I’ve got is a standard two car garage to work with.
I admit that talk of acreage, pole barns, landing strips, etc. does inflict considerable envy.
420 Paper St?
RossD wrote: In reply to xflowgolf: Just imagine would you could afford if you went to the UP! It might as well be the Northwest Territory
Ha! Yes. Beautiful too. I'd love to retire there and do exactly as you've described. My wife would disagree.
Appleseed wrote: In reply to KyAllroad: All that and all he can afford is a 62 Cessna Skyhawk?
Most likely. Here is a 172C (1962 model) for $32,000. 1000 hours on the motor (typical overhaul at 1800)
The runway is grass though, so a tail dragger might be more ideal.
Doc Brown wrote: 420 Paper St?
The first rule!!!
Tiger Mom just got back from the left coast. She was visiting her folks who live just outside SF. The parents live in a one bedroom apt with on-site laundry facilities and one parking space. They've been there for several years so get a $500 a month discount so their rent is "only" $1,800 per month(!).
We've (unsuccessfully) tried to get them to move to a more affordable location, retired after all. If they lived nearly anywhere else they'd have a much nicer place for half the money.
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