Selling my House (Part 1)

[svelte]

I’ve got a friend who has a square mile of land for sale about 5 miles outside the city limits of a fairly good sized OK city.

It is fenced, has a creek running through it, and 3/2 home over 2000 sf with garage. Asking price? $330K…for a square mile of land!!!

Of course, he bought it about 15 years back for under $80K.

[patb]

[quote=svelte]I’ve got a friend who has a square mile of land for sale about 5 miles outside the city limits of a fairly good sized OK city.

It is fenced, has a creek running through it, and 3/2 home over 2000 sf with garage. Asking price? $330K…for a square mile of land!!!

Of course, he bought it about 15 years back for under $80K.[/quote]

He has a section, but, there are only 4 good sized Oklahoma cities.
Tulsa 180,000 people, Stillwater 50,000, OKC 150,000 with associated
communities of Edmond 30,000 and Norman 40,000

after that these town get to 15-20,000 real fast.

your buddy is selling land for 10 cents a square foot or
$4/000 per acre, that’s not much

[patb]

[quote=svelte]I’ve got a friend who has a square mile of land for sale about 5 miles outside the city limits of a fairly good sized OK city.

It is fenced, has a creek running through it, and 3/2 home over 2000 sf with garage. Asking price? $330K…for a square mile of land!!!

Of course, he bought it about 15 years back for under $80K.[/quote]

He has a section, but, there are only 4 good sized Oklahoma cities.
Tulsa 180,000 people, Stillwater 50,000, OKC 150,000 with associated
communities of Edmond 30,000 and Norman 40,000

after that these town get to 15-20,000 real fast.

your buddy is selling land for 10 cents a square foot or
$4/000 per acre, that’s not much

[patb]

[quote=svelte]I’ve got a friend who has a square mile of land for sale about 5 miles outside the city limits of a fairly good sized OK city.

It is fenced, has a creek running through it, and 3/2 home over 2000 sf with garage. Asking price? $330K…for a square mile of land!!!

Of course, he bought it about 15 years back for under $80K.[/quote]

He has a section, but, there are only 4 good sized Oklahoma cities.
Tulsa 180,000 people, Stillwater 50,000, OKC 150,000 with associated
communities of Edmond 30,000 and Norman 40,000

after that these town get to 15-20,000 real fast.

your buddy is selling land for 10 cents a square foot or
$4/000 per acre, that’s not much

[patb]

[quote=svelte]I’ve got a friend who has a square mile of land for sale about 5 miles outside the city limits of a fairly good sized OK city.

It is fenced, has a creek running through it, and 3/2 home over 2000 sf with garage. Asking price? $330K…for a square mile of land!!!

Of course, he bought it about 15 years back for under $80K.[/quote]

He has a section, but, there are only 4 good sized Oklahoma cities.
Tulsa 180,000 people, Stillwater 50,000, OKC 150,000 with associated
communities of Edmond 30,000 and Norman 40,000

after that these town get to 15-20,000 real fast.

your buddy is selling land for 10 cents a square foot or
$4/000 per acre, that’s not much

[patb]

[quote=svelte]I’ve got a friend who has a square mile of land for sale about 5 miles outside the city limits of a fairly good sized OK city.

It is fenced, has a creek running through it, and 3/2 home over 2000 sf with garage. Asking price? $330K…for a square mile of land!!!

Of course, he bought it about 15 years back for under $80K.[/quote]

He has a section, but, there are only 4 good sized Oklahoma cities.
Tulsa 180,000 people, Stillwater 50,000, OKC 150,000 with associated
communities of Edmond 30,000 and Norman 40,000

after that these town get to 15-20,000 real fast.

your buddy is selling land for 10 cents a square foot or
$4/000 per acre, that’s not much

[temeculaguy]

Former San Diegan, none of these are in my rental street but are examples of low GRM (most are shorts). If I post my exact hood I’ll get stalkers. Wait, I want stalkers.

http://www.redfin.com/CA/Temecula/31214-Taylor-Ln-92592/home/6679964

139k, rent is about 1200

http://www.redfin.com/CA/Temecula/33433-Emerson-Way-92592/unit-C/home/6429554

189k, rent is about 1500

http://www.redfin.com/CA/Temecula/31017-El-Osito-Ct-92592/home/6180957

199k, rent about 1600

http://www.redfin.com/CA/Temecula/33599-Winston-Way-92592/unit-B/home/6464457

199k, about 1500 rent

http://www.redfin.com/CA/Temecula/44716-Corte-Gutierrez-92592/home/6247935

199k, about 1700 rent

http://www.redfin.com/CA/Temecula/44551-La-Paz-Rd-92592/home/6188993

99k, maybe 1200 rent but at least 1000

http://www.redfin.com/CA/Temecula/44587-La-Paz-92592/home/6189028

117k, 1000-1200 rent

There are 116 listings today in Temecula for under 200k, Rent is rarely under 1300 for pretty much anything that isn’t a 1br apartment. Cheapest craigslist 2br I found was 1300, some of the same complexes are on craigs for a few hundred over what I quoted as rents, the rents I quoted are a tad low so they wont sit vacant. Too many “investors” paid more than twice these prices and need more so they ask too much IMHO, there are many rentals advertised at 20% more than the cost to buy with 0 down, so I can’t imagine why anyone would rent them. I’ve thought about buying one of these as rentals and would stay on the south side of town, near the casino because there is only 1 apartment complex (1200 for a 2/2) for over 40k people and the casino employs about 4500 people (many renter demographic jobs and jobs with tips that will not be able to buy because stated income is over). I’ve held off because the casino just laid off about 10% of it’s staff and I want to see the effect of that before becoming a landlord. Most of the jobs were created last year when the place doubled and the employees appear to commute in. My theory is that renters would prefer to not commute, there are no apartments zoned, the south side is almost built out and entirely zoned so long term it should be a decent investment at or below 125grm, but I also see the overcorrection and the credit crunch taking prices to 100 grm on a more consistent basis as opposed to the few examples I linked. For every one I linked is an exact one listed for twice that, so these were low price leaders in their category.

[temeculaguy]

Former San Diegan, none of these are in my rental street but are examples of low GRM (most are shorts). If I post my exact hood I’ll get stalkers. Wait, I want stalkers.

http://www.redfin.com/CA/Temecula/31214-Taylor-Ln-92592/home/6679964

139k, rent is about 1200

http://www.redfin.com/CA/Temecula/33433-Emerson-Way-92592/unit-C/home/6429554

189k, rent is about 1500

http://www.redfin.com/CA/Temecula/31017-El-Osito-Ct-92592/home/6180957

199k, rent about 1600

http://www.redfin.com/CA/Temecula/33599-Winston-Way-92592/unit-B/home/6464457

199k, about 1500 rent

http://www.redfin.com/CA/Temecula/44716-Corte-Gutierrez-92592/home/6247935

199k, about 1700 rent

http://www.redfin.com/CA/Temecula/44551-La-Paz-Rd-92592/home/6188993

99k, maybe 1200 rent but at least 1000

http://www.redfin.com/CA/Temecula/44587-La-Paz-92592/home/6189028

117k, 1000-1200 rent

There are 116 listings today in Temecula for under 200k, Rent is rarely under 1300 for pretty much anything that isn’t a 1br apartment. Cheapest craigslist 2br I found was 1300, some of the same complexes are on craigs for a few hundred over what I quoted as rents, the rents I quoted are a tad low so they wont sit vacant. Too many “investors” paid more than twice these prices and need more so they ask too much IMHO, there are many rentals advertised at 20% more than the cost to buy with 0 down, so I can’t imagine why anyone would rent them. I’ve thought about buying one of these as rentals and would stay on the south side of town, near the casino because there is only 1 apartment complex (1200 for a 2/2) for over 40k people and the casino employs about 4500 people (many renter demographic jobs and jobs with tips that will not be able to buy because stated income is over). I’ve held off because the casino just laid off about 10% of it’s staff and I want to see the effect of that before becoming a landlord. Most of the jobs were created last year when the place doubled and the employees appear to commute in. My theory is that renters would prefer to not commute, there are no apartments zoned, the south side is almost built out and entirely zoned so long term it should be a decent investment at or below 125grm, but I also see the overcorrection and the credit crunch taking prices to 100 grm on a more consistent basis as opposed to the few examples I linked. For every one I linked is an exact one listed for twice that, so these were low price leaders in their category.

[temeculaguy]

Former San Diegan, none of these are in my rental street but are examples of low GRM (most are shorts). If I post my exact hood I’ll get stalkers. Wait, I want stalkers.

http://www.redfin.com/CA/Temecula/31214-Taylor-Ln-92592/home/6679964

139k, rent is about 1200

http://www.redfin.com/CA/Temecula/33433-Emerson-Way-92592/unit-C/home/6429554

189k, rent is about 1500

http://www.redfin.com/CA/Temecula/31017-El-Osito-Ct-92592/home/6180957

199k, rent about 1600

http://www.redfin.com/CA/Temecula/33599-Winston-Way-92592/unit-B/home/6464457

199k, about 1500 rent

http://www.redfin.com/CA/Temecula/44716-Corte-Gutierrez-92592/home/6247935

199k, about 1700 rent

http://www.redfin.com/CA/Temecula/44551-La-Paz-Rd-92592/home/6188993

99k, maybe 1200 rent but at least 1000

http://www.redfin.com/CA/Temecula/44587-La-Paz-92592/home/6189028

117k, 1000-1200 rent

There are 116 listings today in Temecula for under 200k, Rent is rarely under 1300 for pretty much anything that isn’t a 1br apartment. Cheapest craigslist 2br I found was 1300, some of the same complexes are on craigs for a few hundred over what I quoted as rents, the rents I quoted are a tad low so they wont sit vacant. Too many “investors” paid more than twice these prices and need more so they ask too much IMHO, there are many rentals advertised at 20% more than the cost to buy with 0 down, so I can’t imagine why anyone would rent them. I’ve thought about buying one of these as rentals and would stay on the south side of town, near the casino because there is only 1 apartment complex (1200 for a 2/2) for over 40k people and the casino employs about 4500 people (many renter demographic jobs and jobs with tips that will not be able to buy because stated income is over). I’ve held off because the casino just laid off about 10% of it’s staff and I want to see the effect of that before becoming a landlord. Most of the jobs were created last year when the place doubled and the employees appear to commute in. My theory is that renters would prefer to not commute, there are no apartments zoned, the south side is almost built out and entirely zoned so long term it should be a decent investment at or below 125grm, but I also see the overcorrection and the credit crunch taking prices to 100 grm on a more consistent basis as opposed to the few examples I linked. For every one I linked is an exact one listed for twice that, so these were low price leaders in their category.

[temeculaguy]

Former San Diegan, none of these are in my rental street but are examples of low GRM (most are shorts). If I post my exact hood I’ll get stalkers. Wait, I want stalkers.

http://www.redfin.com/CA/Temecula/31214-Taylor-Ln-92592/home/6679964

139k, rent is about 1200

http://www.redfin.com/CA/Temecula/33433-Emerson-Way-92592/unit-C/home/6429554

189k, rent is about 1500

http://www.redfin.com/CA/Temecula/31017-El-Osito-Ct-92592/home/6180957

199k, rent about 1600

http://www.redfin.com/CA/Temecula/33599-Winston-Way-92592/unit-B/home/6464457

199k, about 1500 rent

http://www.redfin.com/CA/Temecula/44716-Corte-Gutierrez-92592/home/6247935

199k, about 1700 rent

http://www.redfin.com/CA/Temecula/44551-La-Paz-Rd-92592/home/6188993

99k, maybe 1200 rent but at least 1000

http://www.redfin.com/CA/Temecula/44587-La-Paz-92592/home/6189028

117k, 1000-1200 rent

There are 116 listings today in Temecula for under 200k, Rent is rarely under 1300 for pretty much anything that isn’t a 1br apartment. Cheapest craigslist 2br I found was 1300, some of the same complexes are on craigs for a few hundred over what I quoted as rents, the rents I quoted are a tad low so they wont sit vacant. Too many “investors” paid more than twice these prices and need more so they ask too much IMHO, there are many rentals advertised at 20% more than the cost to buy with 0 down, so I can’t imagine why anyone would rent them. I’ve thought about buying one of these as rentals and would stay on the south side of town, near the casino because there is only 1 apartment complex (1200 for a 2/2) for over 40k people and the casino employs about 4500 people (many renter demographic jobs and jobs with tips that will not be able to buy because stated income is over). I’ve held off because the casino just laid off about 10% of it’s staff and I want to see the effect of that before becoming a landlord. Most of the jobs were created last year when the place doubled and the employees appear to commute in. My theory is that renters would prefer to not commute, there are no apartments zoned, the south side is almost built out and entirely zoned so long term it should be a decent investment at or below 125grm, but I also see the overcorrection and the credit crunch taking prices to 100 grm on a more consistent basis as opposed to the few examples I linked. For every one I linked is an exact one listed for twice that, so these were low price leaders in their category.

[temeculaguy]

Former San Diegan, none of these are in my rental street but are examples of low GRM (most are shorts). If I post my exact hood I’ll get stalkers. Wait, I want stalkers.

http://www.redfin.com/CA/Temecula/31214-Taylor-Ln-92592/home/6679964

139k, rent is about 1200

http://www.redfin.com/CA/Temecula/33433-Emerson-Way-92592/unit-C/home/6429554

189k, rent is about 1500

http://www.redfin.com/CA/Temecula/31017-El-Osito-Ct-92592/home/6180957

199k, rent about 1600

http://www.redfin.com/CA/Temecula/33599-Winston-Way-92592/unit-B/home/6464457

199k, about 1500 rent

http://www.redfin.com/CA/Temecula/44716-Corte-Gutierrez-92592/home/6247935

199k, about 1700 rent

http://www.redfin.com/CA/Temecula/44551-La-Paz-Rd-92592/home/6188993

99k, maybe 1200 rent but at least 1000

http://www.redfin.com/CA/Temecula/44587-La-Paz-92592/home/6189028

117k, 1000-1200 rent

There are 116 listings today in Temecula for under 200k, Rent is rarely under 1300 for pretty much anything that isn’t a 1br apartment. Cheapest craigslist 2br I found was 1300, some of the same complexes are on craigs for a few hundred over what I quoted as rents, the rents I quoted are a tad low so they wont sit vacant. Too many “investors” paid more than twice these prices and need more so they ask too much IMHO, there are many rentals advertised at 20% more than the cost to buy with 0 down, so I can’t imagine why anyone would rent them. I’ve thought about buying one of these as rentals and would stay on the south side of town, near the casino because there is only 1 apartment complex (1200 for a 2/2) for over 40k people and the casino employs about 4500 people (many renter demographic jobs and jobs with tips that will not be able to buy because stated income is over). I’ve held off because the casino just laid off about 10% of it’s staff and I want to see the effect of that before becoming a landlord. Most of the jobs were created last year when the place doubled and the employees appear to commute in. My theory is that renters would prefer to not commute, there are no apartments zoned, the south side is almost built out and entirely zoned so long term it should be a decent investment at or below 125grm, but I also see the overcorrection and the credit crunch taking prices to 100 grm on a more consistent basis as opposed to the few examples I linked. For every one I linked is an exact one listed for twice that, so these were low price leaders in their category.

[TuVu]

patb–

I’m unclear about this: Might you be transferred to San Diego? I think your house is lovely. Take this from someone (and spouse) who truly live in the fugliest girl on the block in our San Diego County neighborhood. It’s all Persian Palaces and Spanish villas…’cepting for our “dollhouse,” which is big enough for us, and that’s all that matters.

I am personally interested in your tale because my dad’s brother (they were both brought up in Chicago) still lives in OK, even though he is retired and has plenty of retirement income. His roof has been torn off three times by tornadoes. I am sincere — what is the appeal of OK? Did you grow up there? If so, I understand. We’d like to leave So Cal but all of our family is here.

[TuVu]

patb–

I’m unclear about this: Might you be transferred to San Diego? I think your house is lovely. Take this from someone (and spouse) who truly live in the fugliest girl on the block in our San Diego County neighborhood. It’s all Persian Palaces and Spanish villas…’cepting for our “dollhouse,” which is big enough for us, and that’s all that matters.

I am personally interested in your tale because my dad’s brother (they were both brought up in Chicago) still lives in OK, even though he is retired and has plenty of retirement income. His roof has been torn off three times by tornadoes. I am sincere — what is the appeal of OK? Did you grow up there? If so, I understand. We’d like to leave So Cal but all of our family is here.

[TuVu]

patb–

I’m unclear about this: Might you be transferred to San Diego? I think your house is lovely. Take this from someone (and spouse) who truly live in the fugliest girl on the block in our San Diego County neighborhood. It’s all Persian Palaces and Spanish villas…’cepting for our “dollhouse,” which is big enough for us, and that’s all that matters.

I am personally interested in your tale because my dad’s brother (they were both brought up in Chicago) still lives in OK, even though he is retired and has plenty of retirement income. His roof has been torn off three times by tornadoes. I am sincere — what is the appeal of OK? Did you grow up there? If so, I understand. We’d like to leave So Cal but all of our family is here.

[TuVu]

patb–

I’m unclear about this: Might you be transferred to San Diego? I think your house is lovely. Take this from someone (and spouse) who truly live in the fugliest girl on the block in our San Diego County neighborhood. It’s all Persian Palaces and Spanish villas…’cepting for our “dollhouse,” which is big enough for us, and that’s all that matters.

I am personally interested in your tale because my dad’s brother (they were both brought up in Chicago) still lives in OK, even though he is retired and has plenty of retirement income. His roof has been torn off three times by tornadoes. I am sincere — what is the appeal of OK? Did you grow up there? If so, I understand. We’d like to leave So Cal but all of our family is here.

[Author]

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