Culver City Home Enters the $300,000 Price Arena.

Culver City listing for the mid $300's

Inquiring minds are reading our very good friend, the good Doctor Housing Bubble about a Culver City listing for a SFR in the 300K’s. First there was the 500k listing in Beverly Hills 90210 and now this!

In a very good post, Dr. Housing Bubble lays out the case that this 300k listing is a tipping point and shows the dam is breaking:

I tend to believe that financial markets just like fads or trends have tipping points. There is always a mixture of factors that come together to push something into a new trend. It looks like certain mid-tier California markets like Culver City are starting to see some of this behavior. Culver City now has a flood of condos on the market selling in the $100,000 range which only a few years ago would have seemed nearly impossible. Yet as we now know with the California budget once reality hits prices have to come in line with revenues or cuts have to be made. Now these examples are becoming more and more common and I believe we will see a price correction in many of these markets in 2011. This is similar to the Beverly Hills home on the market in the $500,000 range. Today we will look at a home, an actual single family residential in Culver City that has cracked the $300,000 mark.

This is probably becoming monotonous to readers, but it is impossible to condense the good Doctor’s message so please click on the link above to read the entire article.


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