[gn]

[quote=TuVu]A friend bought a home right at the peak and paid more than $650K. She and her husband also applied for reassesment and said on the form that they thought the house was now worth $400K. I was amazed when she told me the assessor agreed to exactly that amount.[/quote]

That’s 38% off the peak. I’m kind of curious. Which area is it ?

[gn]

[quote=TuVu]A friend bought a home right at the peak and paid more than $650K. She and her husband also applied for reassesment and said on the form that they thought the house was now worth $400K. I was amazed when she told me the assessor agreed to exactly that amount.[/quote]

That’s 38% off the peak. I’m kind of curious. Which area is it ?

[gn]

[quote=TuVu]A friend bought a home right at the peak and paid more than $650K. She and her husband also applied for reassesment and said on the form that they thought the house was now worth $400K. I was amazed when she told me the assessor agreed to exactly that amount.[/quote]

That’s 38% off the peak. I’m kind of curious. Which area is it ?

[gn]

[quote=TuVu]A friend bought a home right at the peak and paid more than $650K. She and her husband also applied for reassesment and said on the form that they thought the house was now worth $400K. I was amazed when she told me the assessor agreed to exactly that amount.[/quote]

That’s 38% off the peak. I’m kind of curious. Which area is it ?

[gn]

[quote=TuVu]A friend bought a home right at the peak and paid more than $650K. She and her husband also applied for reassesment and said on the form that they thought the house was now worth $400K. I was amazed when she told me the assessor agreed to exactly that amount.[/quote]

That’s 38% off the peak. I’m kind of curious. Which area is it ?

[gn]

surveyor,

Thanks for the response.

Let’s say you have $300k to invest in real estate.
When the market reaches the bottom, which is a better option:

1. Buy a number of SFHs.
2. Buy multi-unit properties (i.e. 4-plexes).

It seems like the multi-unit properties generate better cash flow. But what about appreciation ? Do SFHs appreciate better than 4-plexes ?

[gn]

surveyor,

Thanks for the response.

Let’s say you have $300k to invest in real estate.
When the market reaches the bottom, which is a better option:

1. Buy a number of SFHs.
2. Buy multi-unit properties (i.e. 4-plexes).

It seems like the multi-unit properties generate better cash flow. But what about appreciation ? Do SFHs appreciate better than 4-plexes ?

[gn]

surveyor,

Thanks for the response.

Let’s say you have $300k to invest in real estate.
When the market reaches the bottom, which is a better option:

1. Buy a number of SFHs.
2. Buy multi-unit properties (i.e. 4-plexes).

It seems like the multi-unit properties generate better cash flow. But what about appreciation ? Do SFHs appreciate better than 4-plexes ?

[gn]

surveyor,

Thanks for the response.

Let’s say you have $300k to invest in real estate.
When the market reaches the bottom, which is a better option:

1. Buy a number of SFHs.
2. Buy multi-unit properties (i.e. 4-plexes).

It seems like the multi-unit properties generate better cash flow. But what about appreciation ? Do SFHs appreciate better than 4-plexes ?

[gn]

surveyor,

Thanks for the response.

Let’s say you have $300k to invest in real estate.
When the market reaches the bottom, which is a better option:

1. Buy a number of SFHs.
2. Buy multi-unit properties (i.e. 4-plexes).

It seems like the multi-unit properties generate better cash flow. But what about appreciation ? Do SFHs appreciate better than 4-plexes ?

[gn]

Many seasoned realtors have the following rule of thumb:

– If there are people looking at your house & you get offer(s) within the 1st month of listing, your asking price is within 10% of the “market price”.

– If there are people looking at your house & you have no offer. Your asking price is at least 10% higher than the “market price”.

– If there no one looking at your house, your asking price is at least 20% higher than the “market price”.

I think this is especially true with places like Austin where the supply is not too high compared with the demand (the market is “soft”, but it’s not that bad). The fact that you haven’t got an offer within the first month despite pricing it agressively is “telling”.

With that said, it’s likely that the current market value your house is $315k or less.

Prices in Austin will likely go down for the next 2-3 years (may be not much, but still the direction is downward). Then, even when things pick up, it’ll take another few years for prices to get back to today’s level. Are you willing to rent for that long ?

[gn]

Many seasoned realtors have the following rule of thumb:

– If there are people looking at your house & you get offer(s) within the 1st month of listing, your asking price is within 10% of the “market price”.

– If there are people looking at your house & you have no offer. Your asking price is at least 10% higher than the “market price”.

– If there no one looking at your house, your asking price is at least 20% higher than the “market price”.

I think this is especially true with places like Austin where the supply is not too high compared with the demand (the market is “soft”, but it’s not that bad). The fact that you haven’t got an offer within the first month despite pricing it agressively is “telling”.

With that said, it’s likely that the current market value your house is $315k or less.

Prices in Austin will likely go down for the next 2-3 years (may be not much, but still the direction is downward). Then, even when things pick up, it’ll take another few years for prices to get back to today’s level. Are you willing to rent for that long ?

[gn]

Many seasoned realtors have the following rule of thumb:

– If there are people looking at your house & you get offer(s) within the 1st month of listing, your asking price is within 10% of the “market price”.

– If there are people looking at your house & you have no offer. Your asking price is at least 10% higher than the “market price”.

– If there no one looking at your house, your asking price is at least 20% higher than the “market price”.

I think this is especially true with places like Austin where the supply is not too high compared with the demand (the market is “soft”, but it’s not that bad). The fact that you haven’t got an offer within the first month despite pricing it agressively is “telling”.

With that said, it’s likely that the current market value your house is $315k or less.

Prices in Austin will likely go down for the next 2-3 years (may be not much, but still the direction is downward). Then, even when things pick up, it’ll take another few years for prices to get back to today’s level. Are you willing to rent for that long ?

[gn]

Many seasoned realtors have the following rule of thumb:

– If there are people looking at your house & you get offer(s) within the 1st month of listing, your asking price is within 10% of the “market price”.

– If there are people looking at your house & you have no offer. Your asking price is at least 10% higher than the “market price”.

– If there no one looking at your house, your asking price is at least 20% higher than the “market price”.

I think this is especially true with places like Austin where the supply is not too high compared with the demand (the market is “soft”, but it’s not that bad). The fact that you haven’t got an offer within the first month despite pricing it agressively is “telling”.

With that said, it’s likely that the current market value your house is $315k or less.

Prices in Austin will likely go down for the next 2-3 years (may be not much, but still the direction is downward). Then, even when things pick up, it’ll take another few years for prices to get back to today’s level. Are you willing to rent for that long ?

[gn]

Many seasoned realtors have the following rule of thumb:

– If there are people looking at your house & you get offer(s) within the 1st month of listing, your asking price is within 10% of the “market price”.

– If there are people looking at your house & you have no offer. Your asking price is at least 10% higher than the “market price”.

– If there no one looking at your house, your asking price is at least 20% higher than the “market price”.

I think this is especially true with places like Austin where the supply is not too high compared with the demand (the market is “soft”, but it’s not that bad). The fact that you haven’t got an offer within the first month despite pricing it agressively is “telling”.

With that said, it’s likely that the current market value your house is $315k or less.

Prices in Austin will likely go down for the next 2-3 years (may be not much, but still the direction is downward). Then, even when things pick up, it’ll take another few years for prices to get back to today’s level. Are you willing to rent for that long ?

[Author]

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