Ingelside hot, 32 Josiah not

Ingelside - south of Geneva Ave, west of San Jose Ave. An area that I confess I don't get to much, but went to 32 Josiah at the request of a client.

32 Josiah is a Banked owned REO asking only $302,000. Here's a walk thru of this 1 bedroom Single Family Home.



Rough shape, aye? Meanwhile in 2004 it couldn't sell at $450,000, but later that year when they dropped it to $399,000 it sold for $509,000. Ouch. An unfortunate over-bid story for someone.

Now at $302,000 representing a 40% drop if it sells at that price... and indeed it's apparently gone in and out of contract 3 times. Unfortunately to me that means serious flaws are probably being found during inspections, so it could sell for less.

Meanwhile Ingelide only has 6 Single Family homes with 2 or fewer bedrooms and 1 bathroom that have sold in the past 6 months.... only 1 per month, however, there are 8 homes currently in contract. That's smoking hot. 5 are listed for sale including 32 Josiah.