How is this house worth $300K+?

[Adam Ng]

Story time:

So a couple weeks ago I made an offer on a house I really liked. It was completely re-modeled and it was a nice little small house and the only thing I could tell that could of used some improvement on was the roof. Everything else looked great.

It was a hot home on the market, a lot of offers were being placed and a lot of showings for the home even outside of open house days. 

The home was being listed at $224k and was sold just 6 months ago for $170k and the investor's remodeled it. Based on research on the Inglewood market and comparable homes, I made an offer that was significantly higher above asking - but apparently they got multiple offers of above $300K (asking was $224k), and my offer was declined. It seems a bit ridiculous why one would pay that much for a 700 Sq Ft. home, I guess this shows that "a home is worth what someone is willing to pay!"

https://www.redfin.com/CA/Inglewood/106-W-Kelso-St-90301/home/6449507

Just thought this was an interesting story to share, some remodeling and touching up can make your home seem worth more than what it really is. Talk about a good investment deal that the flippers got out of this... :)

If anyone else has any feedback feel free to share!