• We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.

Looking at houses. Realtor/seller is gouging.

Page 4 - Seeking answers? Join the AnandTech community: where nearly half-a-million members share solutions and discuss the latest tech.
Originally posted by: JinLien

It is common for realtor to pickup a cheap house to flip when they see a deal.

The best thing you can do is find & purchase a run down house/lot in the area that you want to live in and build it yourself. It will take more time & sometime cost more money, but it will be built the way that you want.
Click to expand...

That is a good idea but I am not looking for a project like that. I don't mind doing some work like painting, new cabinets, putting up tiles and so on. I rather not touch any major external jobs like windows, roof, siding.
 
Originally posted by: FrustratedUser
Originally posted by: JinLien

It is common for realtor to pickup a cheap house to flip when they see a deal.

The best thing you can do is find & purchase a run down house/lot in the area that you want to live in and build it yourself. It will take more time & sometime cost more money, but it will be built the way that you want.
Click to expand...

That is a good idea but I am not looking for a project like that. I don't mind doing some work like painting, new cabinets, putting up tiles and so on. I rather not touch any major external jobs like windows, roof, siding.
Click to expand...
Windows is easy & same as siding, roofing is a heavy job that you can do but it can be dangerous and should be left for the pro.

Painting, new cabinets & tiles talkes more work than the outside jobs that you mentioned except for roofing.

It doesn't hurt to talk to a local general contractor to give you a better insight and home owning options.
 
Originally posted by: JinLien
Originally posted by: FrustratedUser
Originally posted by: JinLien

It is common for realtor to pickup a cheap house to flip when they see a deal.

The best thing you can do is find & purchase a run down house/lot in the area that you want to live in and build it yourself. It will take more time & sometime cost more money, but it will be built the way that you want.
Click to expand...

That is a good idea but I am not looking for a project like that. I don't mind doing some work like painting, new cabinets, putting up tiles and so on. I rather not touch any major external jobs like windows, roof, siding.
Click to expand...
Windows is easy & same as siding, roofing is a heavy job that you can do but it can be dangerous and should be left for the pro.

Painting, new cabinets & tiles talkes more work than the outside jobs that you mentioned except for roofing.

It might be a good idea to talk to a local general contractor to give you a better insight and home owning options.
Click to expand...

Possibly yes. The good thing is that indoor work is independent from weather.
 
Originally posted by: FrustratedUser
Originally posted by: JinLien
Originally posted by: FrustratedUser
Originally posted by: JinLien

It is common for realtor to pickup a cheap house to flip when they see a deal.

The best thing you can do is find & purchase a run down house/lot in the area that you want to live in and build it yourself. It will take more time & sometime cost more money, but it will be built the way that you want.
Click to expand...

That is a good idea but I am not looking for a project like that. I don't mind doing some work like painting, new cabinets, putting up tiles and so on. I rather not touch any major external jobs like windows, roof, siding.
Click to expand...
Windows is easy & same as siding, roofing is a heavy job that you can do but it can be dangerous and should be left for the pro.

Painting, new cabinets & tiles talkes more work than the outside jobs that you mentioned except for roofing.

It might be a good idea to talk to a local general contractor to give you a better insight and home owning options.
Click to expand...

Possibly yes. The good thing is that indoor work is independent from weather.
Click to expand...
If you were living closer I wouldn't mind give you a hand on any of the projects around the house for some pizza & brews.
 
We spoke today and she had a contract with an offer she couldn't refuse.

*Parasites*
I don't like the market here at all. I will be keeping statistics of asking vs. selling price and the time the house has been on the market for the next 4 - 6 months.
 
She can charge whatever the hell she wants. If you dont want to pay that much then dont. Find another house. Its pretty simple.
 
Come on over to richmond, the markets booming here.

Last year we bought a 4bed 2.5 bath 2200 sq ft house (includes fully finished basement) - for ~$160, 3 months earlier the seller/realtor bought the house off a foreclosure for ~$80k did $40k in rennovations (the house was a total dump, basically rebuilt most of it)

Yeah, he had a quick flip and made 40 large out of the deal, but we got a great deal on the house that is appriciating. its on a little more then 1/2 acre, 5 min drive from downtown, fairly safe neighborhood, huge driveway
 
Originally posted by: FrustratedUser
We spoke today and she had a contract with an offer she couldn't refuse.

*Parasites*
I don't like the market here at all. I will be keeping statistics of asking vs. selling price and the time the house has been on the market for the next 4 - 6 months.
Click to expand...

I guess you now know what the house is worth.



Tom

 
Originally posted by: Budmantom
Originally posted by: FrustratedUser
We spoke today and she had a contract with an offer she couldn't refuse.

*Parasites*
I don't like the market here at all. I will be keeping statistics of asking vs. selling price and the time the house has been on the market for the next 4 - 6 months.
Click to expand...

I guess you now know what the house is worth.



Tom
Click to expand...

I will know what they think it's worth.
 
When we sold my grandfathers house after he passed a couple years ago the real estate agent came in and did a half assed appraisal to set the value (she was also an appaiser), the selling price was set at nearly 50% of what she appriased the house at. Within 5 days the house was purchased, probably through a relative, friend or shill company of the agent (it's illegal for the buyers agent to purchase the property in utah under certain situations). The house was still on the market last time we drove through town. Did she get a deal? I doubt it, the walls on that house were rotting out (crumbling adobe) and we knew it when we priced it. I wouldn't be supprised if she lost her shirt on that house it needed so much work. Real estate is one of those games where you can gamble on making money and you can also lose your shirt in the process.

If she bought it in the 180's and is selling it in the 230's with almost no improvements I would be wary of something seriously wrong. If you do make an offer make it contingent on a home inspection and get a VERY through inspection done.
 
Originally posted by: rahvin
When we sold my grandfathers house after he passed a couple years ago the real estate agent came in and did a half assed appraisal to set the value (she was also an appaiser), the selling price was set at nearly 50% of what she appriased the house at. Within 5 days the house was purchased, probably through a relative, friend or shill company of the agent (it's illegal for the buyers agent to purchase the property in utah under certain situations). The house was still on the market last time we drove through town. Did she get a deal? I doubt it, the walls on that house were rotting out (crumbling adobe) and we knew it when we priced it. I wouldn't be supprised if she lost her shirt on that house it needed so much work. Real estate is one of those games where you can gamble on making money and you can also lose your shirt in the process.

If she bought it in the 180's and is selling it in the 230's with almost no improvements I would be wary of something seriously wrong. If you do make an offer make it contingent on a home inspection and get a VERY through inspection done.
Click to expand...

If the house 'appraised' at a value that is based on it's current condition.

More often than not on an older property the land value is nearly 100% of the value of the purchase.

 
Originally posted by: ondarkness
Originally posted by: bleeb
People who buy houses now are getting jacked. Wait for the housing bubble to bust.
Click to expand...


How much of a change is realistic if and when it does "burst"?
Click to expand...

It all depends, I bought my house a year ago for $160K and now it's worth over $260K people were talking about the "bubble" then and now.... I'm glad I didn't listen.

Tom

 
Originally posted by: Marlin1975
Please tell me this is SF or some other "high" end part of CA? Cause 1050sqf for $230K 😕
Click to expand...

haha the prices in so cal are much worse than that... i bought a house 2 yrs ago for about 570k, around 2400sf, sold it last month for 850k... it's crazy, the house isnt even all that great, pretty run down....

but then my new condo (1400sf) cost me around 580k =(
 
Originally posted by: alkemyst
If the house 'appraised' at a value that is based on it's current condition.

More often than not on an older property the land value is nearly 100% of the value of the purchase.
Click to expand...

An appraisel is nothing more than an opinion of value. The real value is what the property will sell for on the open market. Your second comment is pure ignorance.
 
Originally posted by: ZOOYUKA
Originally posted by: PhasmatisNox
Walk off.
Click to expand...

Yep, don't trust her!
Click to expand...

She already violated some rules by not disclosing that she was the owner of the house to you upfront. I'd report it to the local realty board as an ethics violation.
 
Originally posted by: Mellman
Come on over to richmond, the markets booming here.

Last year we bought a 4bed 2.5 bath 2200 sq ft house (includes fully finished basement) - for ~$160, 3 months earlier the seller/realtor bought the house off a foreclosure for ~$80k did $40k in rennovations (the house was a total dump, basically rebuilt most of it)

Yeah, he had a quick flip and made 40 large out of the deal, but we got a great deal on the house that is appriciating. its on a little more then 1/2 acre, 5 min drive from downtown, fairly safe neighborhood, huge driveway
Click to expand...

Where in richmond.

I'm loooking for a house in richmond. West end the prices keep going up day by day. An average 3400+ sq. ft house is selling for close to 450k. Any input will be appraciated.


is there any place we could search for foreclosures??
 
Originally posted by: Queasy
Originally posted by: ZOOYUKA
Originally posted by: PhasmatisNox
Walk off.
Click to expand...

Yep, don't trust her!
Click to expand...

She already violated some rules by not disclosing that she was the owner of the house to you upfront. I'd report it to the local realty board as an ethics violation.
Click to expand...

On the sales flyer and the on the web she was listed as owner/agent so she did nothing wrong there.
 
Originally posted by: FrustratedUser
Originally posted by: Queasy
Originally posted by: ZOOYUKA
Originally posted by: PhasmatisNox
Walk off.
Click to expand...

Yep, don't trust her!
Click to expand...

She already violated some rules by not disclosing that she was the owner of the house to you upfront. I'd report it to the local realty board as an ethics violation.
Click to expand...

On the sales flyer and the on the web she was listed as owner/agent so she did nothing wrong there.
Click to expand...

Ahh ok nevermind. I misread the OP then. Sounded like she didn't inform you upfront.
 
Price gouging? If you are willing to pay it, it's not price gouging. If she bought the house for $10,000, does that mean she has to sell it to you for $12,000?

No. You should not care what she paid for it.
 
Originally posted by: edro13
Price gouging? If you are willing to pay it, it's not price gouging. If she bought the house for $10,000, does that mean she has to sell it to you for $12,000?

No. You should not care what she paid for it.
Click to expand...

Of course I should care. It's up to me if I am willing to ride the bubble.
Now if she actually put down $25k in upgrades I would not complain about $230k.
 
Originally posted by: FrustratedUser
Originally posted by: edro13
Price gouging? If you are willing to pay it, it's not price gouging. If she bought the house for $10,000, does that mean she has to sell it to you for $12,000?

No. You should not care what she paid for it.
Click to expand...

Of course I should care. It's up to me if I am willing to ride the bubble.
Now if she actually put down $25k in upgrades I would not complain about $230k.
Click to expand...

Then don't buy it. Quite simple really. What she paid isn't relevant, it's only whether you think the property is overpriced in the CURRENT market. You sure do whine a lot.
 
You must log in or register to reply here.

TRENDING THREADS

Back
Top