"Tristan" (casselts)
06/07/2018 at 23:49 • Filed to: None
2
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"Tristan" (casselts)
06/07/2018 at 23:49 • Filed to: None | 2
| 44 |
But, COME ON. This house is located right behind mine. It sold last year to a flipper for $340k-ish. Some of you might recall me thinking the lady 2 houses down was crazy for listing her house at $410k. This house is the same 1,800 square feet with all the standard flipper crap done to it- new paint, HVAC, windows, roof, ugly ass gray kitchen and super trendy bathrooms that’ll look stupid in 5 years, etc. It was in sorry shape when they bought it, and they cleaned it up nice.
They just listed it today.
For...
Wait for it...
FIVE HUNDRED SEVENTY-FIVE THOUSAND DOLLARS.
...
FIVE
HUNDRED
SEVENTY-FIVE
THOUSAND
AMERICAN
DOLLARYDOOS.
camaroboy68ss
> Tristan
06/08/2018 at 00:00 |
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you must be in either Seattle, Portland or Bend for that price.
E92M3
> Tristan
06/08/2018 at 00:03 |
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Crazy! U could buy that for $200k in the suburbs of Atlanta.
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Tristan
> camaroboy68ss
06/08/2018 at 00:05 |
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Oregon City! Apparently Portland, West Linn and Lake Oswego are running out of houses and the money is moving south.
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Tristan
> E92M3
06/08/2018 at 00:05 |
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I know. I own a bigger and nicer house in Florida that I paid $124,000 for 4 years ago.
Chariotoflove
> Tristan
06/08/2018 at 00:07 |
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$200k where I live.
NKato
> Tristan
06/08/2018 at 00:10 |
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This is very common. The house I used to rent at went to a flipper, then was bought by a couple. It looks so nice now.
jkm7680
> Tristan
06/08/2018 at 00:23 |
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Flippers also usually use sub par products, cheap labor and avoid or gloss over the major issues a home could have.
Where I used to live, that’s a $90,000 house.
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jkm7680
> Tristan
06/08/2018 at 00:24 |
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also their landscaper sucks
Future Heap Owner
> Tristan
06/08/2018 at 00:36 |
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Yeah, me & the lady are not gonna be around here long term, even though we love it here, because we want to buy a house but the market is so insane.
lone_liberal
> Tristan
06/08/2018 at 00:56 |
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When even my side of Washington goes nuts you know it’s bad. I don’t think that there was such a thing as a seller’s market around here until this year. Without seeing the interior I’d guess that would go for $300k here but the way things are it could very well go for more given the lack of real estate inventory.
Dr. Zoidberg - RIP Oppo
> Tristan
06/08/2018 at 01:07 |
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Yep, that’s a 400k house in south (!!!) Everett, 550k in Bothell, 2 million on Bellevue.
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Tristan
> jkm7680
06/08/2018 at 01:20 |
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I’ve only ever just seen some young ish lady out there working on the yard. Pretty sure the landscaping is all DIY from the flipper.
KusabiSensei - Captain of the Toronto Maple Leafs
> E92M3
06/08/2018 at 02:06 |
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You can buy larger than that in Metro ATL for that price too.
RPM esq.
> camaroboy68ss
06/08/2018 at 03:17 |
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Not even close. If it was within 30 miles of Seattle it would be listed at $675k and it would sell in a week for over 700.
Eric @ opposite-lock.com
> Tristan
06/08/2018 at 04:16 |
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We “bought” our place 6 payments ago. The last house that sold in the neighborhood was smaller and less desirable than ours (with zero upgrades since new), but they were asking $625k and got $670k. The one prior was a little bigger and sold for $35k more than asking. Another went up for $725k (again, smaller, but with similar updates to ours), dropped to $690k, and will likely sell for above the original asking. By my rough estimates, the value of our house should be up ~15-20% since we bought it.
Our market isn’t even that desirable and prices are up that much. The housing situation is insane and we even have a vacant house on our street that has been sitting unoccupied since before we moved here last year.
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Eric @ opposite-lock.com
> RPM esq.
06/08/2018 at 04:22 |
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What’s scary is that those numbers are starting to look a little low.
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Eric @ opposite-lock.com
> Dr. Zoidberg - RIP Oppo
06/08/2018 at 04:30 |
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Based on the crap shacks in neighborhoods near me, that Bothell number might be conservative. I would guess that for out where I live.
The Bellevue number would probably be treating this as a tear down based on all that property.
pip bip - choose Corrour
> Tristan
06/08/2018 at 06:50 |
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come to any east coast capital city in Australia.
$575k won’t get your foot in the door.
CarsofFortLangley - Oppo Forever
> Tristan
06/08/2018 at 07:52 |
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mmm so cheap. That would be like 1.5M in metro Van
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Dr. Zoidberg - RIP Oppo
> Eric @ opposite-lock.com
06/08/2018 at 08:15 |
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You mean like the I worked at in Clyde Hill last year?
Under_Score
> E92M3
06/08/2018 at 08:23 |
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If you want to live in a bad school district, maybe. Location in Atlanta, though. Have you seen housing prices on a map between Cobb and Paulding County? As soon as you enter Paulding, all the houses drop by at least $100,000 for the same type of house. East Cobb (Pope, Walton, Lassiter) district has a lot of older homes that are probably well above $300,000 that still look old. We’re cheaper than the northwest, definitely, but not super cheap.
Neil drives a beetle and a fancy beetle
> Tristan
06/08/2018 at 08:41 |
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When we looked at flipped houses I would always tell myself two things:
1. Don’t get too caught up on what the flipper bought it for.
2. Assume that no matter how new-ish it feels, it’s going to have as many problems as a house that’s “lived in” the problems will just be different and potentially more hidden.
Sovande
> Tristan
06/08/2018 at 08:48 |
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That would be cheap in my neighborhood.
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Sovande
> Tristan
06/08/2018 at 08:49 |
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Why am I grey?
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Sovande
> Tristan
06/08/2018 at 08:50 |
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I was just in Oregon City this spring - I revise my earlier comment. That is not a place I would pay $500,000 for anything. The fishing is fun, but man, not a lot going on there.
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E92M3
> KusabiSensei - Captain of the Toronto Maple Leafs
06/08/2018 at 10:31 |
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Especially in south Gwinnett.
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E92M3
> Under_Score
06/08/2018 at 10:33 |
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Anything between 120 and Barrett Pkwy is hot right now. A lot of houses in that area have appreciated 20% in the last 12 months.
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Under_Score
> E92M3
06/08/2018 at 10:45 |
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That’s around the Under_Score turf! However, 120 intersects Barrett, so are you talking about west of the intersection towards Paulding, or east towards Marietta?
Svart Smart, traded in his Smart
> Tristan
06/08/2018 at 11:09 |
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Some context/location would be helpful. A detached house like this, regardless of size or upkeep, could easily be a million-dollar home in certain Seattle neighborhoods.
gettingoldercarguy
> Sovande
06/08/2018 at 12:08 |
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If you run into an asshole in the morning, you ran into an asshole. If you run into assholes all day, you’re the asshole.
ZHP Sparky, the 5th
> Tristan
06/08/2018 at 12:15 |
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House flipping just drives me up the wall. Of course there are houses that are completely unlivable and need a big new professional re-do. But I wish more people would be OK with buying a modest looking house and having the work done themselves over time to make it better. Instead of a bunch of jackasses running around painting everything gray, hiding or doing a shoddy job of fixing actual issues, and then inflating prices 2x to pad their pockets. I guess there are enough people with the money to throw at such stupidity that it prices a lot of people out of the market altogether.
We were fortunate enough to even be able to afford the house that we bought 2 years ago in Portland…it was owned by the neatest and diligent 90 year old couple imaginable. It’s not hip or modern (half bath with carpets and wall paper that reminds me of an Egyptian tomb!) but it’s an amazing house that can easily be lived in and worked on over time piecemeal. Same house “flipped” would’ve been well over $750k and no way we could’ve come anywhere near affording it.
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E92M3
> Under_Score
06/08/2018 at 12:15 |
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I was talking about where it intersects Johnson Ferry. Actually anything north of there, all the way thru Cherokee County is a good investment.
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Tristan
> Sovande
06/08/2018 at 12:35 |
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But... Vertical street!!!
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Tristan
> Dr. Zoidberg - RIP Oppo
06/08/2018 at 12:37 |
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GOOD GOD.
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Tristan
> Future Heap Owner
06/08/2018 at 12:40 |
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I don’t even know how anyone can afford to rent here. There’s no way I could have started out in my early 20s here.
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Sovande
> gettingoldercarguy
06/08/2018 at 13:01 |
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That’s just TV show wisdom.
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Sovande
> Tristan
06/08/2018 at 13:03 |
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Huh. I have fished there 5 years in a row and never knew that existed...
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Dr. Zoidberg - RIP Oppo
> RPM esq.
06/08/2018 at 14:56 |
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It would be 1 million in Ballard...
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Under_Score
> E92M3
06/08/2018 at 15:18 |
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That’s pretty Far East, like Walton district.
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E92M3
> Under_Score
06/08/2018 at 18:32 |
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Seems like houses east of 75 are doing better than those on the west.
I would love to buy a rental around the hospital. So many new medical graduates with heavy stundent loan debts to keep them from buying, that have 12 hour shifts and don’t want to sit in traffic.
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camaroboy68ss
> Tristan
06/08/2018 at 22:57 |
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Yeah that area is going up, I am in Hillsboro and the prices are going skyward due to Intel being headquartered here.
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Under_Score
> E92M3
06/08/2018 at 22:58 |
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Which hospital, though? I’m west of 75, but I’m in one of the best school districts in the county. It’s laughably overpopulated, the high school is. However, like I said, south Cobb and Paulding County still don’t have the best schools.
Forrest
> Tristan
06/09/2018 at 02:35 |
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That would be at least $1.5M here in San Jose. Oh, and it looks like it might have a little bit of land (or at least a big lot). Maybe round up to $2M for that, because someone will want to tear it down and build apartments.
wkiernan
> Tristan
06/11/2018 at 15:33 |
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So in other words, if that were your house, your property taxes would have increased by 70% in two years. This is not a problem if you’re selling the place and raking in the profits from the 70% increase in value, but if you were planning on continuing to live in the house it is a big problem, particularly if you’re a retiree with a fixed income.