I CAN’T BELIEVE IT; YA KNOW, I JUST CAN’T BELIEVE IT!!!

I opened my Yahoo Mail this morning, I guess about 4 AM.? I couldn’t sleep because of back pain, so I got up, took some meds and looked at my emails and waited for the meds to take effect.? There was an advertisement for a listing that blew me away!!!? It was a single-family residence in Tustin, California that had 2 bedrooms and one bath and it was all of 820 square feet.? Remember that I said 820 SQUARE FEET!!!

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I moved to the greater Los Angeles area in 1969 and bought my first house in Northridge in 1972.? It was a nice little house with 3 bedrooms and about 1,400 square feet with an incredible view of the San Fernando Valley.? We paid $42,000 for the house and it is worth just shy of $1 million today.? Well, we all know what prices in Southern California have done and I am not surprised at this number.

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When we bought that house, the city just North of us was, and still is, Chatsworth and that was considered the dregs.? I have a friend and client who bought a brand new house in Chatsworth a couple of years ago for over $2 million.? But the house is HUGE and Chatsworth is going through a transition.? You see, the whole San Fernando Valley is changing and, like the rest of Southern California, is getting a lot more expensive.? But “a lot more expensive” has its limits.

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The city of Tustin is in Orange County, and it is a nice city but absolutely, not the class of Orange County!? Anyway, the advertisement was for a house of, as I said, 2 bedrooms and 1 bath and it is 820 square feet and the price, I am waiting for a drumroll, is $799,900.? They are listing the house for $800K and I can’t believe it, I just can’t believe it!!!? That’s almost $1,000 per square foot.? I know that things, home prices, are crazy, but this is ridiculous.? Remember, the house I bought in 1972 was about $30 per square foot.

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I just realized what I wrote, and I started to chuckle.? And you wonder why the rest of the country laughs at us and thinks that we are playing with Monopoly Money!!!

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My name is Paul Levine, and you can call me at (818) 298 – 4000 after 10 AM Pacific Time Monday through Friday, and yes, even on the weekends.? Or you can send an email to me at “[email protected]” and I will always try to answer you in a timely manner.? I am the Managing Member of LS PROPERTY PARTNERS LLC and, with my partner, Fred Sams, we can help you make it through the complicated issue of Income Taxes like no one else can and, with our years of experience, we can help you make the right decision!!!? We can help you defer tens of thousands of dollars in income taxes that will drastically change your cash flow allowing you to qualify for a loan, pick up the adjoining piece of property for future expansion, do some major refurbishing of the purchased property and even take a wonderful, romantic trip with the one you love!!!!!

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HAVE A WONDERFUL WEEKEND AND GO 49ERS!!!