Word on the grapevine is, now that Paris did her time in Lynwood, all other cities in the proximity are going up in Hollywood value. They are hot. Today we salute you Compton, with our Real Home of Genius Award. 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.

As we read the description, we realize that this is a motivated seller. In addition, they may offer you a repair credit. Isn’t that nice? Well I may not buy this place. Since this place is in Southern California and less than $300,000, ergo this is a good deal. Forget the fact that area rents go for $800 a month. This place was built during World War II. While Europe and Russia where being bombed, we had this glorious piece of construction coming up from the ashes.

Let us take a look at the sales history:

Sale History

1/13/2006: $293,206

04/19/2005: $282,000

06/20/2003: $1,000

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? My gut likes the 2003 2^nd note or refinance.

This is a great example of how many urban areas around Los Angeles are coming down quickly while the median price keeps rising like a Phoenix. Speaking of Phoenix, many home builders out there are giving cars with a home purchase. How smart. Give you a $40,000 car so they don’t have to knock the price down and affect comps. Too bad this tactic isn’t working because look at the inventory from last week (can you say sign of the beast?):

Today we salute you Compton with our Real Home of Genius Award.