[quote=sdrealtor]CAR
Just curious as to what you think a fair market price for the Parkwood house should have been. I expect that as conservative a buyer as you are, there are likely plenty others who would pay more but think a price you would pay really speaks to a bottomline value for a house like that. Of course you would love to pay that or less but what would you have been willing to pay for that house?
sdr
P.S. Unfortunately the market doesnt always get a chance to speak its mind and this was one of those cases.[/quote]
sdr,
With the limited knowledge I had about that property (structural problems, etc.), it’s hard to say for sure; but if there was very little structural work to be done, we probably would have paid up to $650K.
One thing I have to say, though…believe it or not, we *are* willing to pay a premium for the right location/lot/layout, so our price might not be a true “bottom” price.
We have enough money to do some major repairs or to do some adding-on, etc. Because of this, we might be willing to pay a bit more for a fixer than a flipper would (maybe). Also, because we don’t need to finance upgrades or repairs (which is what buyers do when they pay a premium to flippers), we are very open to fixers with the right location/lot — a good layout is icing on the cake. In other words, our price would probably lie somewhere between what a flipper would pay (only for the right location/lot), and what another end-user — without the means to fix it up — might pay.
