Sunday open house adventure

[nostradamus]

After having visited it, do you feel that $456k is overpriced for that home? From the photos it is one of the rare cases when the exterior actually looks better than the interior. IMO it’s usually the other way around. Anyway, it’s a cute little house.

Did you see this flipper nearby? Asking $615k for an uglier house.

[jpinpb]

Well, I don’t know. Overpriced? In my eyes, I wouldn’t do it. But I’m looking for a deal and can wait for the right one. I found out 2768 Deerpark Dr (a few doors down) closed in 2006 for 595k. So this will bring down the comps a little more. The other one was the same size. I think at 350k it would have been a good deal, 400k would have been fair. Any higher for the condition it was in, wasn’t worth it to me.

That flipper nearby will have to reconsider his price after this closes.

[jpinpb]

Well, I don’t know. Overpriced? In my eyes, I wouldn’t do it. But I’m looking for a deal and can wait for the right one. I found out 2768 Deerpark Dr (a few doors down) closed in 2006 for 595k. So this will bring down the comps a little more. The other one was the same size. I think at 350k it would have been a good deal, 400k would have been fair. Any higher for the condition it was in, wasn’t worth it to me.

That flipper nearby will have to reconsider his price after this closes.

[jpinpb]

Well, I don’t know. Overpriced? In my eyes, I wouldn’t do it. But I’m looking for a deal and can wait for the right one. I found out 2768 Deerpark Dr (a few doors down) closed in 2006 for 595k. So this will bring down the comps a little more. The other one was the same size. I think at 350k it would have been a good deal, 400k would have been fair. Any higher for the condition it was in, wasn’t worth it to me.

That flipper nearby will have to reconsider his price after this closes.

[jpinpb]

Well, I don’t know. Overpriced? In my eyes, I wouldn’t do it. But I’m looking for a deal and can wait for the right one. I found out 2768 Deerpark Dr (a few doors down) closed in 2006 for 595k. So this will bring down the comps a little more. The other one was the same size. I think at 350k it would have been a good deal, 400k would have been fair. Any higher for the condition it was in, wasn’t worth it to me.

That flipper nearby will have to reconsider his price after this closes.

[jpinpb]

Well, I don’t know. Overpriced? In my eyes, I wouldn’t do it. But I’m looking for a deal and can wait for the right one. I found out 2768 Deerpark Dr (a few doors down) closed in 2006 for 595k. So this will bring down the comps a little more. The other one was the same size. I think at 350k it would have been a good deal, 400k would have been fair. Any higher for the condition it was in, wasn’t worth it to me.

That flipper nearby will have to reconsider his price after this closes.

[Anonymous]

What’s your hurry to buy jp? Those prices are still ridiculously high. I remember looking at Bay Park back in 96 when I was new to the area. The little houses in that neighborhood were going for 150-180K range. By far it was the cheapest “Coastal” real estate at the time. If history is any lesson, it will get pummeled by the current real estate recession.

[Anonymous]

What’s your hurry to buy jp? Those prices are still ridiculously high. I remember looking at Bay Park back in 96 when I was new to the area. The little houses in that neighborhood were going for 150-180K range. By far it was the cheapest “Coastal” real estate at the time. If history is any lesson, it will get pummeled by the current real estate recession.

[Anonymous]

What’s your hurry to buy jp? Those prices are still ridiculously high. I remember looking at Bay Park back in 96 when I was new to the area. The little houses in that neighborhood were going for 150-180K range. By far it was the cheapest “Coastal” real estate at the time. If history is any lesson, it will get pummeled by the current real estate recession.

[Anonymous]

What’s your hurry to buy jp? Those prices are still ridiculously high. I remember looking at Bay Park back in 96 when I was new to the area. The little houses in that neighborhood were going for 150-180K range. By far it was the cheapest “Coastal” real estate at the time. If history is any lesson, it will get pummeled by the current real estate recession.

[Anonymous]

What’s your hurry to buy jp? Those prices are still ridiculously high. I remember looking at Bay Park back in 96 when I was new to the area. The little houses in that neighborhood were going for 150-180K range. By far it was the cheapest “Coastal” real estate at the time. If history is any lesson, it will get pummeled by the current real estate recession.

[jpinpb]

I know, I know. I see something that looks like might be in pain and I want to check into it, see how hurt they are. But I wasn’t going to go for it at that price. I know it’s going to have to do better than that for me to jump in. Just means there’s a new comp. As nostradamus pointed out, the realtor/owner of 2503 Deerpark trying to flip for 615k when he bought last year for 585k will probably have to reconsider/reduce. Just glad to see the land tsunami inching its way to the coast.

Also, true in ’96 you could pick up something for 180k. The ’90’s were hurting. What would normal appreciation be for 10 years if you take out the supbrime? Okay. Maybe 250-300k. I don’t see it falling back to 1996 prices. Of course I would be delighted, but I’d be happy w/just something reasonable and 450k is not to me.

[jpinpb]

I know, I know. I see something that looks like might be in pain and I want to check into it, see how hurt they are. But I wasn’t going to go for it at that price. I know it’s going to have to do better than that for me to jump in. Just means there’s a new comp. As nostradamus pointed out, the realtor/owner of 2503 Deerpark trying to flip for 615k when he bought last year for 585k will probably have to reconsider/reduce. Just glad to see the land tsunami inching its way to the coast.

Also, true in ’96 you could pick up something for 180k. The ’90’s were hurting. What would normal appreciation be for 10 years if you take out the supbrime? Okay. Maybe 250-300k. I don’t see it falling back to 1996 prices. Of course I would be delighted, but I’d be happy w/just something reasonable and 450k is not to me.

[jpinpb]

I know, I know. I see something that looks like might be in pain and I want to check into it, see how hurt they are. But I wasn’t going to go for it at that price. I know it’s going to have to do better than that for me to jump in. Just means there’s a new comp. As nostradamus pointed out, the realtor/owner of 2503 Deerpark trying to flip for 615k when he bought last year for 585k will probably have to reconsider/reduce. Just glad to see the land tsunami inching its way to the coast.

Also, true in ’96 you could pick up something for 180k. The ’90’s were hurting. What would normal appreciation be for 10 years if you take out the supbrime? Okay. Maybe 250-300k. I don’t see it falling back to 1996 prices. Of course I would be delighted, but I’d be happy w/just something reasonable and 450k is not to me.

[jpinpb]

I know, I know. I see something that looks like might be in pain and I want to check into it, see how hurt they are. But I wasn’t going to go for it at that price. I know it’s going to have to do better than that for me to jump in. Just means there’s a new comp. As nostradamus pointed out, the realtor/owner of 2503 Deerpark trying to flip for 615k when he bought last year for 585k will probably have to reconsider/reduce. Just glad to see the land tsunami inching its way to the coast.

Also, true in ’96 you could pick up something for 180k. The ’90’s were hurting. What would normal appreciation be for 10 years if you take out the supbrime? Okay. Maybe 250-300k. I don’t see it falling back to 1996 prices. Of course I would be delighted, but I’d be happy w/just something reasonable and 450k is not to me.

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