Real Estate Prices Have Dropped About 20% In Pico-Robertson Since 2007

Based on anecdotes from real estate agents, I've learned that condos that sold for $600,000 in the Pico-Robertson area in 2007 now go for about $520,000.

On the other hand, rents have not decreased. They've been going up steadily over the past four years as more people switch from owning a home to renting. Thus, there's more demand for rentals and prices go up.

I've also noticed the odd home boarded up around the community. I assume that is because of foreclosure.

I cover real estate, refinance and mortgages at the following blog:

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