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Originally Posted by jonesy
I rented my house but I had friends who owned homes in LA and the few that did sell after the quake did not lose money.
true but the majority of homes that are sold in instances like that (ie desperate) are very short term and dont lose value in the long run.
that 94 earthquake was a leveler so to speak 
i just feel all this talk of a bursting bubble is bullshit.
i do think its going to level off and stop for awhile.
but a decline in price?
nope. |
Yeh it was a nasty leveler for many areas of the Valley in LA. After the quake I tried to sell my place and the minute you disclose your property had major earthquake damage, they would make that cringe face and walk.
And you can't blame them cause once you get foundation level damage on a home even fixing it all up, its just never the same. There's all these squeaks and creaks you hear afterwards forever due to the whole frame having been shaken so violenty.
That house finally just sold 10 years later for $2.25 mil which is a steal considering its size and grounds and spectacular view of the entire Valley.
And I spent $5,000 on a geologist before building that cocksucker that analyzed the grounds and gave me a clean report that our property was ground fault free when in fact it wasn't.