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Tillers
Participant[quote=CA renter]
The price the house sold for before the flippers sucked up the inventory is the “fair market value” as far as I’m concerned. Putting in $20K worth of “improvements” and asking for $150K more than the purchase price a few months before is highly offensive to intelligent buyers who are perfectly capable of making their own improvements (that will be of the style and quality desired by the real buyer).
How these things ever appraise is beyond me. We’re right back to all the games that caused the “crisis” in the first place.[/quote]
I agree. One on of the places I made an offer (not in North Park) the house sold for 175K in August. Goes on the market in December for 295 – 315K. The listing was just started at the 295 to entice buyers who enter 300K as their search ceiling, as they had no intention on selling for that. Now the house was nice mind you, very well done, large corner lot, no house behind, etc. It was still by far the highest priced house in the neighborhood, by about 30K. I came in at 285 plus seller pay CC. They countered at 315. I was going to counter at 275, but decided to not waste any more of my time.
Point of my story, even with 50K in upgrades this seller is looking for nearly 100K for 4 months work. Plus out pricing the neighborhood. Comps were going for 215-265K Good for them if they can get it. But they’re not getting it from me.
Maybe I shouldn’t take things so personal but when they try sales tactics like that (lower listing than what they are willing to accept) it makes me run.
Participant[quote=CA renter]
The price the house sold for before the flippers sucked up the inventory is the “fair market value” as far as I’m concerned. Putting in $20K worth of “improvements” and asking for $150K more than the purchase price a few months before is highly offensive to intelligent buyers who are perfectly capable of making their own improvements (that will be of the style and quality desired by the real buyer).
How these things ever appraise is beyond me. We’re right back to all the games that caused the “crisis” in the first place.[/quote]
I agree. One on of the places I made an offer (not in North Park) the house sold for 175K in August. Goes on the market in December for 295 – 315K. The listing was just started at the 295 to entice buyers who enter 300K as their search ceiling, as they had no intention on selling for that. Now the house was nice mind you, very well done, large corner lot, no house behind, etc. It was still by far the highest priced house in the neighborhood, by about 30K. I came in at 285 plus seller pay CC. They countered at 315. I was going to counter at 275, but decided to not waste any more of my time.
Point of my story, even with 50K in upgrades this seller is looking for nearly 100K for 4 months work. Plus out pricing the neighborhood. Comps were going for 215-265K Good for them if they can get it. But they’re not getting it from me.
Maybe I shouldn’t take things so personal but when they try sales tactics like that (lower listing than what they are willing to accept) it makes me run.
Participant[quote=CA renter]
The price the house sold for before the flippers sucked up the inventory is the “fair market value” as far as I’m concerned. Putting in $20K worth of “improvements” and asking for $150K more than the purchase price a few months before is highly offensive to intelligent buyers who are perfectly capable of making their own improvements (that will be of the style and quality desired by the real buyer).
How these things ever appraise is beyond me. We’re right back to all the games that caused the “crisis” in the first place.[/quote]
I agree. One on of the places I made an offer (not in North Park) the house sold for 175K in August. Goes on the market in December for 295 – 315K. The listing was just started at the 295 to entice buyers who enter 300K as their search ceiling, as they had no intention on selling for that. Now the house was nice mind you, very well done, large corner lot, no house behind, etc. It was still by far the highest priced house in the neighborhood, by about 30K. I came in at 285 plus seller pay CC. They countered at 315. I was going to counter at 275, but decided to not waste any more of my time.
Point of my story, even with 50K in upgrades this seller is looking for nearly 100K for 4 months work. Plus out pricing the neighborhood. Comps were going for 215-265K Good for them if they can get it. But they’re not getting it from me.
Maybe I shouldn’t take things so personal but when they try sales tactics like that (lower listing than what they are willing to accept) it makes me run.
Participant[quote=CA renter]
The price the house sold for before the flippers sucked up the inventory is the “fair market value” as far as I’m concerned. Putting in $20K worth of “improvements” and asking for $150K more than the purchase price a few months before is highly offensive to intelligent buyers who are perfectly capable of making their own improvements (that will be of the style and quality desired by the real buyer).
How these things ever appraise is beyond me. We’re right back to all the games that caused the “crisis” in the first place.[/quote]
I agree. One on of the places I made an offer (not in North Park) the house sold for 175K in August. Goes on the market in December for 295 – 315K. The listing was just started at the 295 to entice buyers who enter 300K as their search ceiling, as they had no intention on selling for that. Now the house was nice mind you, very well done, large corner lot, no house behind, etc. It was still by far the highest priced house in the neighborhood, by about 30K. I came in at 285 plus seller pay CC. They countered at 315. I was going to counter at 275, but decided to not waste any more of my time.
Point of my story, even with 50K in upgrades this seller is looking for nearly 100K for 4 months work. Plus out pricing the neighborhood. Comps were going for 215-265K Good for them if they can get it. But they’re not getting it from me.
Maybe I shouldn’t take things so personal but when they try sales tactics like that (lower listing than what they are willing to accept) it makes me run.
ParticipantI’m not hung up on sq/ft at all, but I have a general idea of how much will be suitable for me. When I go to these places that are untruthfully listed, then it turns out to be just a waste of time. As in I never would have looked at a place with a master bedroom of 10 x 10 feet. And yes, it was an older place and the only thing signifying the bedroom as a master was the attached bathroom. Perhaps it was added sometime back but I don’t know.
Concerning the short sales and earnest money. I’ll bring that up to my Realtor. As it seems stupid to me to leave a good faith/earnest money for a bank that isn’t even going to respond for two months. My original idea was that if I found a SS I like, then make the offer and keep looking, that way in 9 months when I haven’t found anything, the SS may come back and I can close on it. That changed when I went to make my first offer on one and the listing agent took two days to get back to my agent with some excuse that he had a sub-agent who actually knew the property. Shady stuff like that just makes me run. Maybe I got discouraged to easily though.
ParticipantI’m not hung up on sq/ft at all, but I have a general idea of how much will be suitable for me. When I go to these places that are untruthfully listed, then it turns out to be just a waste of time. As in I never would have looked at a place with a master bedroom of 10 x 10 feet. And yes, it was an older place and the only thing signifying the bedroom as a master was the attached bathroom. Perhaps it was added sometime back but I don’t know.
Concerning the short sales and earnest money. I’ll bring that up to my Realtor. As it seems stupid to me to leave a good faith/earnest money for a bank that isn’t even going to respond for two months. My original idea was that if I found a SS I like, then make the offer and keep looking, that way in 9 months when I haven’t found anything, the SS may come back and I can close on it. That changed when I went to make my first offer on one and the listing agent took two days to get back to my agent with some excuse that he had a sub-agent who actually knew the property. Shady stuff like that just makes me run. Maybe I got discouraged to easily though.
ParticipantI’m not hung up on sq/ft at all, but I have a general idea of how much will be suitable for me. When I go to these places that are untruthfully listed, then it turns out to be just a waste of time. As in I never would have looked at a place with a master bedroom of 10 x 10 feet. And yes, it was an older place and the only thing signifying the bedroom as a master was the attached bathroom. Perhaps it was added sometime back but I don’t know.
Concerning the short sales and earnest money. I’ll bring that up to my Realtor. As it seems stupid to me to leave a good faith/earnest money for a bank that isn’t even going to respond for two months. My original idea was that if I found a SS I like, then make the offer and keep looking, that way in 9 months when I haven’t found anything, the SS may come back and I can close on it. That changed when I went to make my first offer on one and the listing agent took two days to get back to my agent with some excuse that he had a sub-agent who actually knew the property. Shady stuff like that just makes me run. Maybe I got discouraged to easily though.
ParticipantI’m not hung up on sq/ft at all, but I have a general idea of how much will be suitable for me. When I go to these places that are untruthfully listed, then it turns out to be just a waste of time. As in I never would have looked at a place with a master bedroom of 10 x 10 feet. And yes, it was an older place and the only thing signifying the bedroom as a master was the attached bathroom. Perhaps it was added sometime back but I don’t know.
Concerning the short sales and earnest money. I’ll bring that up to my Realtor. As it seems stupid to me to leave a good faith/earnest money for a bank that isn’t even going to respond for two months. My original idea was that if I found a SS I like, then make the offer and keep looking, that way in 9 months when I haven’t found anything, the SS may come back and I can close on it. That changed when I went to make my first offer on one and the listing agent took two days to get back to my agent with some excuse that he had a sub-agent who actually knew the property. Shady stuff like that just makes me run. Maybe I got discouraged to easily though.
ParticipantI’m not hung up on sq/ft at all, but I have a general idea of how much will be suitable for me. When I go to these places that are untruthfully listed, then it turns out to be just a waste of time. As in I never would have looked at a place with a master bedroom of 10 x 10 feet. And yes, it was an older place and the only thing signifying the bedroom as a master was the attached bathroom. Perhaps it was added sometime back but I don’t know.
Concerning the short sales and earnest money. I’ll bring that up to my Realtor. As it seems stupid to me to leave a good faith/earnest money for a bank that isn’t even going to respond for two months. My original idea was that if I found a SS I like, then make the offer and keep looking, that way in 9 months when I haven’t found anything, the SS may come back and I can close on it. That changed when I went to make my first offer on one and the listing agent took two days to get back to my agent with some excuse that he had a sub-agent who actually knew the property. Shady stuff like that just makes me run. Maybe I got discouraged to easily though.
ParticipantSD Realtor, the reason I’m not dropping offers on every short sale I see is because I am required to leave an earnest money deposit. That’s $3K tied up (for each one) for the bank to play with while they play games with me on the waiting.
Ren, your analysis made me laugh and how true. I looked at one, still on the market with the description “totally cottage cute” which means an un-permitted 2bath, 2bed, (1 bath, 2 bed on the records) 800 sq ft place. Though the lot was nice, price wasn’t…
ParticipantSD Realtor, the reason I’m not dropping offers on every short sale I see is because I am required to leave an earnest money deposit. That’s $3K tied up (for each one) for the bank to play with while they play games with me on the waiting.
Ren, your analysis made me laugh and how true. I looked at one, still on the market with the description “totally cottage cute” which means an un-permitted 2bath, 2bed, (1 bath, 2 bed on the records) 800 sq ft place. Though the lot was nice, price wasn’t…
ParticipantSD Realtor, the reason I’m not dropping offers on every short sale I see is because I am required to leave an earnest money deposit. That’s $3K tied up (for each one) for the bank to play with while they play games with me on the waiting.
Ren, your analysis made me laugh and how true. I looked at one, still on the market with the description “totally cottage cute” which means an un-permitted 2bath, 2bed, (1 bath, 2 bed on the records) 800 sq ft place. Though the lot was nice, price wasn’t…
ParticipantSD Realtor, the reason I’m not dropping offers on every short sale I see is because I am required to leave an earnest money deposit. That’s $3K tied up (for each one) for the bank to play with while they play games with me on the waiting.
Ren, your analysis made me laugh and how true. I looked at one, still on the market with the description “totally cottage cute” which means an un-permitted 2bath, 2bed, (1 bath, 2 bed on the records) 800 sq ft place. Though the lot was nice, price wasn’t…
ParticipantSD Realtor, the reason I’m not dropping offers on every short sale I see is because I am required to leave an earnest money deposit. That’s $3K tied up (for each one) for the bank to play with while they play games with me on the waiting.
Ren, your analysis made me laugh and how true. I looked at one, still on the market with the description “totally cottage cute” which means an un-permitted 2bath, 2bed, (1 bath, 2 bed on the records) 800 sq ft place. Though the lot was nice, price wasn’t…
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