Robert Gosalvez highlights the shift towards assessing properties based on land value and potential redevelopment opportunities rather than the current state of the structures.
Tammie Peters explains how the price of $700,000 for a condemned home is not considered high in the current market, indicating a significant change in real estate pricing over the years.
Despite being condemned, the home at 2161 Elliott St. received multiple offers above the asking price, indicating the high demand for properties with redevelopment potential.
Condemned home purchases can't be financed with loans, reflecting the challenges and complexities associated with investing in such properties.
#california-real-estate #land-value #investment-opportunities #real-estate-market-trends #property-redevelopment
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