Real estate General topic

   / Real estate General topic #601  
Being upfront about your budget after the viewing can sometimes work in your favor. The land seems to be a big part of the value, and in a lot of areas, that's what people are willing to pay for. If you and your wife decide you really like the property but the price feels off, you could consider offering what feels fair to you based on the value of the land and house separately, like you're planning.If you’re still exploring similar listings or even considering something further afield, check out options like acresdubai.com. It’s interesting to look at how pricing and available properties compare in different regions.
 
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   / Real estate General topic #602  
Wow. Losing proposition, in every way.

If successful, it'll be good incentive for no one to ever buy property in CA, it'll be far cheaper to just rent! :D

Whoever wrote that 60% rule must not understand basic compounding, the gap will only grow with time. If CPI averages around 4% for 10 years, the landlord's approximate costs go up 48%, but they can only increase rents by 27%. Brilliant. :rolleyes:

The landlords costs will double every ~18 years, at least those that track with CPI, yet rents will only double after 30 years!
I tend to think legislation like this is effectively an unconstitutional taking of property by the government when they make this kind of rule, but also think many judges are financial illiterates who don't understand these things or they look the other way because of political affiliations. Plus, this kind of thing is meddling in contract terms between private parties. Maybe it could be justified as an emergency measure in times of public health emergency, but long term?
 
   / Real estate General topic #603  
The pri
I saw a house my buddies wife is selling back where I grew up.
Expected to see 300-400, was 697,000 -----

Crazy
That price is wild! It's surprising how much the market has changed. I’ve seen similar trends in my area, too.
We thought about buying a second house but decided to put this idea aside because of this situation with the prices. I've recently checked out the Local Home Buyers reviews in the hope someone can help navigate this crazy market. Finding the right buyer or agent can really make a difference these days. What a shift!
 
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   / Real estate General topic #604  
Nothing in my old neighborhood under $2M anymore, and those are the tear-downs. My parents bought one house there in 1971 for $22k, and a second at $125k in 1980 or 81.

I find the area less desirable today, than 40 years ago, but others clearly think differently.
 
   / Real estate General topic #605  
Down here, that would be a pretty fair asking price. Maybe go for $250k, but it would likely have some possible hits at $299k

Yeah, 4 acres alone here is about $80k. Throw in a liveable house and you are over $200k easy. I mean, a double wide on a 1/4 acre here is selling for $170k typically.

Our 8 acres, new home and new 40x60 shop are worth more than most folks retirement funds.
 
   / Real estate General topic
  • Thread Starter
#606  
So, long time, no update, but been busy with hurricanes, working, ect. I have some time coming up off from work to get after the repairs/clean up, ect of the old house. Now, older house, foe context is upper low income range, targeting between $185-215k sales price, 1400 sq ft 3/2 double wide, manufactured, 1994 model; on 2.0 acres on a paved road.

Now, I've already ripped the cracked tile out of master bath, have to repair 2 pieces of laminate wood flooring in living room, replace a couple door thresholds, patch 2 areas of drywall, replace a cieling fan, and paint. Those are all pretty affordable repairs. My question is, the kitchen... cheap manufactured home cabinets, but 2 of the cabinet doors need replaced, really need replaced, dish washer leaked and the wood swelled badly. I can replace the doors for about $50/each. Several other doors don't look "good" but they are less bad. I believe I could replace all the doors with cheap crappy unfinished ones, no hardware, and still have to paint them, for around $1000. I'm not going to replace cabinets, or tops; although one bottom is bowed from that leak, and I might install a painted plywood bottom "floor" of it.

I'm not trying to turn a mid to upper lower class home into a lower middle class home; think starter home/rental. I dont want to spend money I won't get back plus more, for repairs.

Outside, I might add a 2ft border of new, clean red mulch, just for the clean look, around the entire house.

Does that sound reasonable? Am I wasting 40 hrs of work, and $1500 in materials? Should I just replace the 2 or 3 doors?

Also, I do have to replace 1 window, and a set of porch steps.

I build a large-ish porch, 12x24, covered, and a 6x10 laundry and freezer room on the porch, and converted the laundry to a pantry. Should I remove the shelving and move laundry back inside?

Planning on a tile backer board and a water proof, vinyl plank in master bath.

So, am I under doing it and loosing money, over doing it and loosing money, or kinda on target.
 
   / Real estate General topic
  • Thread Starter
#607  
Maybe I should re say that in a shorter way;

If you had a small, older home to sell for $185-215, with a few water damaged cabinet doors, and needed to replace a master bath floor, and general landscaping; what would you do?
 
   / Real estate General topic #608  
Can you replace the 2-3 doors, and paint them all to look more consistent?
Definitely make it look like water damage hasn't happened.
 
   / Real estate General topic
  • Thread Starter
#609  
Can you replace the 2-3 doors, and paint them all to look more consistent?
Definitely make it look like water damage hasn't happened.
That's kinda the direction I'm leaning. I was going to originally sand, bondo, and paint; but I just don't think that is worth it.
 
   / Real estate General topic #610  
That's kinda the direction I'm leaning. I was going to originally sand, bondo, and paint; but I just don't think that is worth it.
Time is money.
Usually I don't mind spending time on a project (besides, it's an excuse to get more toys! (tools)), but my guess is that this isn't going to be a project with great personal satisfaction, so just git'er dun
 

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