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Another Home in Gang Territory

I continue to be fascinated by some of the listings out there. I’ve seen ads describing houses that look to be one step up from the Texas Chainsaw Massacre house with descriptions like “fascinating,” “enviable.” Yes. If you are currently living on skid row or in one of the overcrowded downtown missions these homes might be described as enviable. I’ve also seen descriptions about the “lovely chain link fence.” There is only one kind of chain link fence, and it isn’t lovely.

What’s really bizarre is to find listings that a person making about $100K+ year could afford if they had 20% to put down and a little bit of financial padding for emergencies. You think to yourself, that should be a pretty decent home, right? I mean, who would think that a person earning that kind of money would get to live in a house like this:

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This is a particularly interesting listing because the sales history shows some trouble might be brewing. It’s most likely a short sale, and based on 2006 taxes paid and tax valuation, something is just wrong with the records on this one…taxes based on the last sale of 450K should be about 5K.

The house is in a part of Pacoima that is downright terrifying. I guess a person just gets used to that (or arms themselves and buys a rottweiler).

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What might really sell folks though is the nice spacious area around the house – not crowded in by other homes.
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As any Realtor worth his/her commission would say, “Lovely.”

UPDATE: LAST SALE: $275,000 (04/04/2008)

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