I know, the right house is vacant, but they remodeled the WRONG house.
Yes! Both houses were vacant. The houses were across the street from each other.
The house on the left side of the street was owned by one flipping company. The house on the right side of the street was owned by a different flipping company.
I don’t remember how extensive the work was. I will find out someday. I will probably talk to one of the guys involved in the next few weeks.
Well… A house we looked at a monrh ago sold and the price was just disclosed. The price was higher than we thought. We didn’t even like the house. 
I guess the market continues to rise at a rapid rate. I thought we were bidding above market. I guess not if that selling price of the other home is any indication. I think prices where we are looking may be up 75 percent in 3 years. Echhhhh
Why don’t you buy the “Wrong” flipper house?
:)…
Yes single family homes has increased value a lot but not condos they don’t do as well. Especially like my mom’s condo that cannot be used for investment. My friend Was going to offer much more for it, backed out because it can’t be rented out.
Yeah…not being able to rent a place out doesn’t work for me either.
Many condo associations prohibit renting. The flip side is that if a complex has too many renters it can be hard to get financing even for owner occupied.
DStark and Jym626- I would be getting pretty frustrated. In our area we are seeing a mix of listings priced at market with traditional offer approach and others that seem to be placed under market with a specific time and date for offers. We would help our children buy if they were in the market. Like DStark we want them to stay at least in our state.I think that is the only way they will afford to buy in most of Ca. Our kids have grown up with the mindset for as investment and home for themselves to look for the fixer in the best neighborhoods over the fancy house in the not as desirable neighborhood.
According to a postcard in the mail our median price is 999,000. Inventory is low. Things priced well in the lower end seem to sell quickly. A lot of all cash offers and investors. The young adults looking to buy have a hard time finding anything.
I don’t have any idea what my D will do. She will live with us and look for jobs in our area and southern Ca. and I wouldn’t be surprised if she considered more schooling. She will be fine.
On the high end- the house across the street finally sold. 3.95 million. I think it took them 4 years to get the price they wanted. It started at almost 6 million. They split off and sold the lower 2 acres for over 2 million. So I bet they came close to getting their price. It was never marketed aggressively and they were difficult neighbors so no one quite knew what the rationale was. Amazing ocean views that weren’t advertised. The new owners are doing a lot of work!
Mom60, now that’s a nice neighborhood.
My daughter wants a fixer upper too. That’s good because most of the homes where she is looking are fixer uppers.
Fixer uppers in nice areas is a good strategy.
I have seen TONS of fixer uppers, but none of them make any sense. Now I start to look at good houses. That is the market.
DStark- my neighborhood is like Marin. That property is unique. 20 yr old house with unobstructed ocean views. Sadly the house sits right smack in the middle of my ocean view. 858 days on market. Another house nearby sold for 1.395,000 old house no view. That one was on market just 12 days.
We buy houses for rentals. We hold and don’t flip. A different philosophy then artloversplus. We Only look at 4 or 5 bedroom tract houses. Don’t care about school district. In our area aside from the high end areas you don’t get significantly more rent for a better school. To buy is another story. A house that you buy in one school district could be 800000 whereas the same house ( same builder) in a better district will easily top 1.2 million. Rent isn’t any higher. These days most renters are groups of young adults.
DS is out of town this week so wont be at the open houses this weekend. I read about one house, listed as 3 br, but theres a comment that one br is only accessible from the garage, so really isnt a functional 3 br.
DS has looked at both fixers and remodels. They are open to either.
Mom60, That’s very interesting. Makes sense. There are many ways to play. Young adults who are renting don’t care about schools. If I rented my place, rent would probably be less than 5 percent of the home value. That is before any expenses. After expenses…maybe my return would be 3 1/2 percent. Hmmm… That is better than I thought.
What about where you live?
Oh my god, the buyer who is in contract for my mom’s condo came back with a whole slew of “stuff”, they went in and use a microscope and a fine tooth brush to look at every little imperfections in the home, so far they came up:
- Painter missing a patch in the closet
- A few nail holes above the stove and painter did not cover them up
- Cracks in the grout and missing grout in few places
- Discoloration on the kitchen cabinet and window tract? The window track is NEWS to me.
- Three leaky faucets. I don't think so... I checked, did some one forgot to turn it off?
- The hot water dispenser does not work, how about plug in?
- Some one forgot to flush the toilet and no water in the tank, what? Can you Just turn on the water!
- Chip in the fire place. Do I have to replace the whole thing?
- More to come....
I said I will give you $200 in the spirit of negotiation…Take it or leave it and don’t ask for more repairs…
Its a 20 year old condo after all… Shhhhhhhhhhhhhhhh
Wow! Talk about a buyer nitpicking…
I hope the buyer of the pkace my daughter wanted nitpick their way out of the deal.
Someone used the bathroom? Charge them for that
They should ask for arbitration
Yeah, sue me… make my day…
Wait, wasn’t it all cash with no contingencies? Or am I confused?