Upper MId to Lower High End Market in NCC

[bearishgurl]

[quote=CA renter]402 Parkwood (the colonial at the end of the cul-de-sac) had a less useable yard and was not in move-in condition at all. It just benefitted from better photography. Notice the green shag carpeting? Nothing had been done to it in decades. It took a long time to sell that one, too. It also had what even I would call a “functionally obsolete” floorplan without a full bathroom on the bottom floor (IIRC). Around here, at least, the single-story homes carry a premium over two-story homes.[/quote]

Yes CAR, I did notice part of the lot going uphill in back of the two story but doesn’t that offer privacy, even if it was the 3K sf portion in excess of the one-story tenant occupied property’s lot?

I, too, feel a one-story is a preferable fixer to buy, esp. if you are planning on adding on later.

I understand the inside of the two story wasn’t perfect but was at least clean and liveable, unlike the tenant occupied property. I took issue with the crummy asphalt driveway on the one-story. Having poured a lot of concrete in my day, I would surmise that concreting that driveway property (perhaps with a drain or two and properly attaching it to the RV drive) would cost at least 20K + backyard patio and sidewalks/repair. And from what I could see of the floors, they were all dirty vinyl. A few trips to the yard-waste dump for sure. Kitchen cabinets needed replacing or at the bare minimum refacing. Fireplace needed A LOT of attention, drywalling, texturizing . . . and the list goes on . . . and on.

Guess other Piggs trolling around on this link (one typically habitually trolls in and “echos” after the other – lol) talking about how much it would cost to “fix up” are extremely handy themselves and buy everything “south of the border” and carry it all up themselves on flatbed trucks, lol.

For whatever reason, CAR, the two story on the “less-usable lot” sold for approx. $138K more than this tenant-occupied fixer. The market has spoken.

CAR, it looks like you DO have A FEW opportunities to take advantage of “here and there” in NCC to purchase fixers or cosmetic fixers.

[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.

[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.

[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.

[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.

[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.

[Coronita]

As a “worker bee”, my observation in hallways is that is seems like it’s all tied to the perception of the economy….

Probably last year, there was a panic about “layoffs” etc here in SD, a tanking equity market,etc..

But around this time (while I don’t necessarily thing the economy is necessarily stronger), I think a good portion of this fear has subsided…
I mean, I see a bunch of dual income works with house hold incomes above $250k with sizeable downpayments looking in 4S/CV/LJ at my full time gig…It seems like with the prospects of the the economy, they seem to be less hesitant to purchase now then they did last year..And it seems like it feeds off of each other (people X aren’t worked, hence why should I?)

[Coronita]

As a “worker bee”, my observation in hallways is that is seems like it’s all tied to the perception of the economy….

Probably last year, there was a panic about “layoffs” etc here in SD, a tanking equity market,etc..

But around this time (while I don’t necessarily thing the economy is necessarily stronger), I think a good portion of this fear has subsided…
I mean, I see a bunch of dual income works with house hold incomes above $250k with sizeable downpayments looking in 4S/CV/LJ at my full time gig…It seems like with the prospects of the the economy, they seem to be less hesitant to purchase now then they did last year..And it seems like it feeds off of each other (people X aren’t worked, hence why should I?)

[Coronita]

As a “worker bee”, my observation in hallways is that is seems like it’s all tied to the perception of the economy….

Probably last year, there was a panic about “layoffs” etc here in SD, a tanking equity market,etc..

But around this time (while I don’t necessarily thing the economy is necessarily stronger), I think a good portion of this fear has subsided…
I mean, I see a bunch of dual income works with house hold incomes above $250k with sizeable downpayments looking in 4S/CV/LJ at my full time gig…It seems like with the prospects of the the economy, they seem to be less hesitant to purchase now then they did last year..And it seems like it feeds off of each other (people X aren’t worked, hence why should I?)

[Coronita]

As a “worker bee”, my observation in hallways is that is seems like it’s all tied to the perception of the economy….

Probably last year, there was a panic about “layoffs” etc here in SD, a tanking equity market,etc..

But around this time (while I don’t necessarily thing the economy is necessarily stronger), I think a good portion of this fear has subsided…
I mean, I see a bunch of dual income works with house hold incomes above $250k with sizeable downpayments looking in 4S/CV/LJ at my full time gig…It seems like with the prospects of the the economy, they seem to be less hesitant to purchase now then they did last year..And it seems like it feeds off of each other (people X aren’t worked, hence why should I?)

[Coronita]

As a “worker bee”, my observation in hallways is that is seems like it’s all tied to the perception of the economy….

Probably last year, there was a panic about “layoffs” etc here in SD, a tanking equity market,etc..

But around this time (while I don’t necessarily thing the economy is necessarily stronger), I think a good portion of this fear has subsided…
I mean, I see a bunch of dual income works with house hold incomes above $250k with sizeable downpayments looking in 4S/CV/LJ at my full time gig…It seems like with the prospects of the the economy, they seem to be less hesitant to purchase now then they did last year..And it seems like it feeds off of each other (people X aren’t worked, hence why should I?)

[CA renter]

[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.

[CA renter]

[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.

[CA renter]

[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.

[CA renter]

[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.

[Author]

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