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Real Estate Bombing Near Los Angeles, CA
By Lance D.
REMEMBER:- Housing prices increased by 1% in Rancho Cucamonga, CA in April, and
- Property values never go down - just ask a real estate agent!
FORGET ECONOMICS 101, HISTORY, MARKET INDICATORS, AND EVEN COMMON SENSE
LISTEN TO YOUR REAL ESTATE AGENT:
Housing prices in Rancho Cucamonga, CA increased by 1% in April.
The Inland Empire is immune to economic recession.
Property values NEVER go down, and
Now is a great time to buy a house!
These 7 beautiful Wilson Estates Luxury Homes (above) in north Alta Loma, the crown jewel of the Inland Empire, were listed for over $1,200,000 in early 2007.
By April the price had been reduced to the mid $900,000's with a banner which read MUST SELL BY MAY 5!
The price reduction didn't bring a single buyer! On May 20th the banner was replaced with a sign which reads,
AUCTION. 7 New Luxury Homes. MINIMUM BID $695,000.
From over $1,200,000 to $695,000. Question is: Will they sell now?
Directly across the street from the 7 Wilson Estates Luxury Homes (which cannot attract a single buyer) are 7 additional luxury north Alta Loma homes (above).
These homes are truly beautiful and were originally being offered for over $1,5000,000. 4 of these homes were 90% complete and 3 were 50% completed before the builder walked away from them. 90% completed and abandoned in the foreground. 50% completed and abandoned in the background. There is nothing like the sight of rotting plywood covering a luxury home:
