I still can't figure out how and why this dude paid so much for a house

A Zestimate home valuation is Zillow's estimated market value.
Zestimate is $450,500 for this home.

The Value Range is the high and low estimated market value for which Zillow values a home. The more information, the smaller the range, and the more accurate the Zestimate. See data coverage and accuracy table Value Range: $396,440 - $491,045
30-day change: -$6,500
Zestimate updated: 12/26/2008
Last sale and tax info
Sold 06/16/2006: $992,000 *
The value has dropped by more than half. Its utterly stunning.

Edited by nimblebear, 28 December 2008 - 01:00 AM.

My friend bought a house in las Vegas for $525k which sold 2 years ago for $1.2 Million. It's the BUBBLE baby. I am looking at a condo in Florida listed for $159k which sold brand new for $299k 2 years ago as a winter home.The owner bought it as investment and was never occupied.