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Tuesday, December 18, 2012

Why - $1 Million for Sale House in Rowland Heights?

My 2 cents.

There is a bit of a bubble if your house hunting in the Rowland Heights, and surrounding areas with good school districts. Lots of money coming in from China, that is inflating it.

I am surprised at the amount of houses for sale around $1 Million in Rowland Heights:
http://www.realtor.com/realestateandhomes-search/91748/price-900000-na

My wife and I saw one open house near where we live, where the house was for sale over $1 Million. The question is why? The house was rented out for a while and the person rented it out made a lot of changes to make it into a "maternity hotel". The owner came back and had to have a lot of work done to bring the house back to code. The renter added rooms and put a toilet in each room I heard.

Per the Daily Mail, packages for a person coming from China to an anchor baby is $5,000 to $15,000. I don't understand the pricing of the house, unless they are looking to the cash flow by making it into a maternity mansion again.

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1 Comments:

Anonymous Anonymous said...

From paper sons to maternity mansions, chinese try to gain citizenship.

December 18, 2012 at 8:42 PM  

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