It’s annoying to see “First Time on Market in 20 Years!” on real estate listings — like that’s really a selling point. Is that supposed to make me wanna buy it more? Or over pay you by over half a million dollars? That could very well mean that you’ve had it on the market for twenty years and couldn’t sell it, and you’re trying again, and again, and again. The only thing that would work for is a 20-year-old virgin.
I saw this apartment in Palms just pop up for sale… what the hell here’s the address: 10594 National, Los Angeles, CA 90034
You know what — here’s the ad and a pic.
Price: $1.8m, 8 Units
Actual Value: $1.2m (in my expert opinion since I’m the #1 agent in Palms)
“Frist time on market in 20 yrs. 2 buildings each 4 units with court yard, none of the units have a common wall, very quiet!! Convienent for shopping, close to UCLA, & Santa Monica College. Laundry on site. Easy Freeway access. Owner will carry @ 5% Int. rate with 20% down”
*I will say that the financing terms are attractive. But that’s like buying a Honda Civic for $100,000 and getting 0% interest for 5 years. If that sounds attractive to you, go buy the building.
Omar Ting Blog. Period. 