Aging on the Eastside—45+ days on Market, $450 or Less

I was going to do a post on Eastside listings that had been on the market for more than 45 days, but that search brought up well over 200 properties, so I narrowed it down to the lower end of the market, houses only (no condos). That still brought up a fair number of properties, but here’s a sample of what is in the neighborhood at that price point…checking out the pictures might give you a clue as to why these properties aren’t selling so quickly.

• This 2/1 is listed for $431,00. It’s been on the market 69 days. Fixer is a kind description.
• In Echo Park, this 824-square foot 2/1 was built in 1948 and has been on the market for 65 days. Currently listed at $412,000, it has a sale history of $478,000 in June of 2008.
• On Fountain, more towards Hollywood, is this “bank-owned fixer” that actually doesn’t look that bad. It’s got 1,440 square feet and has a 2/2008 sale price of $681, 139 listed. Before that, it sold for $352,000 in 2002.
• This last one on Clayton is actually in a good neighborhood, but definitely in need of lots of work if not a rebuild. It’s been on the market for more than 200 days – and last sold in 1969 for $2,000! It’s currently listed at $385,000.