After two-and-a-half years on the market, Dawson's Crock, complete with Ghetto Gate and gang member graffiti, sold on October 20 for $300,000.
Congratulations to the new homeowner! Enjoy those 764 square feet!
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LONG BEACH USED TO BE THE "AFFORDABLE" ALTERNATIVE TO OC AND LA, BUT AN INFORMATIONAL AND PSYCHOLOGICAL BARRIER IS PREVENTING LB FROM ACKNOWLEDGING THE SEVERITY OF THE ENSUING HOUSING CRASH, AS LONG BEACH REAL ESTATE PRICES NOW SURPASS THE OC IN MANY CASES. I CHALLENGE THE CONVENTIONAL WISDOM OF COMMISSION-HEADS WHO CLAIM "NOW IS A GREAT TIME TO BUY," AND I WANT TO HELP BUYERS ENSURE THEIR LARGEST SINGLE INVESTMENT IS A SOUND ONE.
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In a year and a half this will show up on the FHA books as another $300k down the tubes.
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