Real Homes of Genius: Compton

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Good morning. That Dr. Housing Bubble sure does have an eye for a bargain -- he writes:

‘Real Homes of Genius: Today we Salute you Compton. $279,900 for 768 Square Feet. This 768 square foot palace will wet the appetite of any hungry home buyer. Take a look at the gates. Doesn’t it remind you of the entrance of Windsor Castle? I’m glad we both had the same initial reaction.’

‘In addition, this place has some uncanny ability to squeeze gold out of turnips. This place has 3 bedrooms in 768 square feet. How they do this is like asking Oscar Mayer’s how they make hot dogs, you probably don’t want to know.’

Here’s the news nugget, though: The house sold for $282,000 in April 2005, and $293,000 in January 2006. The Doctor: ‘Fascinating. So you are telling me we have a place in Southern California with 2 years of zero appreciation? Blasphemy! This goes against the sunshine tax laws and all things that make this world spin. But here is the real kicker. The Zillow Zestimate is $418,000! Bwahaha! Who are we to believe? Zillow, the current price, or our gut?’

Photo Credit: Dr. Housing Bubble