2901 Crystal Bay Dr, Las Vegas, NV 89117 - Zillow Bullcrap Ben at Work

2901 Crystal Bay Dr, Las Vegas, NV 89117 - Zillow

This house price is a joke. Even Zillow puffed up estimate is 274k. They want 344k for a house that needs a pool that was resurfaced! And the house needs work!

Zillow lists the house as sold in 2001 for 235k. It probably went for near 400k at the peak of the bubble. Since there is no record of sale during the bubble the owners may have taken helocs and become seriously underwaters.

Now we have an investor driven new bubble that is unsustainable.

No sane regular person will buy this house for this price. There are empty houses her all over the place. I live in this neighborhood!

This is all because Fannie and Freddie don't require appraisals for Homepath homes and are quasi government agencies helping to jack up the price of houses. But if an investor buys this house he is risking a big takedown.

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