I’m sure plenty of people that get Redfin/Zillow notices flipped with excitement at seeing a number under $800K when they got the notice of 721 Bayonne St.
900 Lomita sold at $150/sqft and it had a 1300 sqft home on it.
917 Sheldo sold at $119/sqft and it had a 1100 sq ft home on it.
So you have an out of towner agent (based out of Arcadia) sitting at her desk running some comps and hoping she can find another fool.
How many flippers are out willing to stick there neck out a what is most likely a 100% tear down on a 5000 square foot lot? Two years and $1.1 million later and they have a home they hope will be worth $1.4 mil?
Let em stick their neck out because if and when the sky starts to fall it will be all these flips that need to cut bait and get out quickly.