Escalating real estate prices
A 3-unit property in Ontario, California, sold in December, 2002 for $275,000.
The new owner turned around and sold it in February, 2004 for $379,000.
Now that new owner is going to put in on the market for $568,000.
Looking at the comps, that $568,000 price is pretty fair. It might even go for more. This is unreal. It just doesn’t seem right, but that’s the state of the market now.
Rufus Said,
August 16, 2005 @ 6:45 pm
I’ve seen luxury apartments near the University of Toronto going for $1.6 mil. It is unreal.