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1
PockyClipsNow
2012 Apr 10, 4:14am
PockyClipsNow
2012 Apr 10, 4:14am
1989 was the peak of the RE bubble before this last RE bubble in CA.
Im not sure that is a good starting point the home would be worth 30% less in 1996 than in 1989 at least.
2
sera
2012 Apr 10, 4:28am
So if this house was 175000 in 1996 then inflation adjusted value is 255K or 322K if considering same price in 1989 . I wonder if it will drop to that value ever?
Patrick's Calculator shows 293K with default assumptions.
http://patrick.net/housing/calculator.php?uaddr=3802+Bobwhite+Terrace%2C+94555&rent=2100&price=321%2C000
This house http://www.redfin.com/CA/Fremont/3790-Bobwhite-Ter-94555/home/1638060 is listed for ~480K and adjacent one http://www.redfin.com/CA/Fremont/3802-Bobwhite-Ter-94555/home/1869230 for 460K (short sale). These houses were built in ~1989 and sold for about 250K. As per the Inflation calculator http://www.usinflationcalculator.com/ inflation adjusted value is ~460K. Is bottom reached for these houses? HOA is $236 and estimated rent is about $2100.