Comments on: Redfin Open House in San Pedro’s South Shores http://blog.redfin.com/losangeles/2009/07/redfin_open_house_in_san_pedros_south_shores.html Redfin Los Angeles Sweet Digs Thu, 09 Feb 2012 13:33:45 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: ed hardy http://blog.redfin.com/losangeles/2009/07/redfin_open_house_in_san_pedros_south_shores.html/comment-page-1#comment-38248 ed hardy Fri, 13 Nov 2009 07:25:22 +0000 http://blog.redfin.com/losangeles/?p=2486#comment-38248 it's wonderful it’s wonderful

]]> By: DF http://blog.redfin.com/losangeles/2009/07/redfin_open_house_in_san_pedros_south_shores.html/comment-page-1#comment-30841 DF Tue, 21 Jul 2009 05:33:10 +0000 http://blog.redfin.com/losangeles/?p=2486#comment-30841 We can use the Case-Schiller Index (CSI) to get a rough estimate of what the current value of this home should be. Plugging each of the three previous sales prices into the CSI produces estimates ranging from $674k-$624k. The average of the three figures is $651,000. In other words, it's a lovely house, but it's currently priced about $100k above where it should be according to historical averages. And with prices due to dip further in the future as the Alt-A/Option-ARM tsunami hits (as well as unemployment, inflation, and other financial issues), that value will decline for at least the next few years. We can use the Case-Schiller Index (CSI) to get a rough estimate of what the current value of this home should be. Plugging each of the three previous sales prices into the CSI produces estimates ranging from $674k-$624k. The average of the three figures is $651,000.

In other words, it’s a lovely house, but it’s currently priced about $100k above where it should be according to historical averages. And with prices due to dip further in the future as the Alt-A/Option-ARM tsunami hits (as well as unemployment, inflation, and other financial issues), that value will decline for at least the next few years.

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