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The open house was packed with 50 people running around like ants.
As I said before, in LA the joke is become a shrink you'll have a client on every corner. You just proved that old saying true.
Did it ever occur to you that those 50 may have been actors?
Did it ever occur to you that those 50 may have been actors?
Don't forget they need to get approved for financing.
Haha, everyone is an actor out here, didn't you know?! It was a wide range of people. Mostly in their 40's and 50's with kids. Maybe they all cashed out in 2006 and have large chunks of cash to put down now? On that house, you'll need $280K down minimum, and would most likely need to earn $400K per year. I wonder how many people really earn that much a year? Maybe it's the norm now and I just didn't realize it.
Who do you trust? A Realtor® or your gut?
Always my gut. I was hoping to find a fair price given the market and make an offer. maybe 1.1, or even 1million. I'm not paying full price for that place. I'll continue to wait it out. I know that the place will be 700K one day if we wait.
Waiting, by the way, is getting increasingly tiring as I watch the FED do everything it can to manipulate interest rates further and further down into eternity. At this rate it will take years for property to bottom, just like in Japan. Maybe 2025 will be a market bottom? Yay!
KILLERJANE
2012 Sep 22, 1:41am
Best time to have an offer accepted... Probably dec to jan. People are dazed by the holidays and weather. A realtor told me if they get an offer or interest from someone during the 2 weeks surrounding Christmas/New Year, they jump on it because they know the buyer is serious.
If you buy an acre of land on the beach it will cost more than an acre in the ghetto of Detroit.
Ya see folks? "It's the land!"
I really appreciate your well thought out and pertinent thoughts on the subject of this thread!
No one can substantiate these outrageous prices, but there are more expensive places to live and cheaper places to live. It's not cut and dry equal pricing for land everywhere like you're implying.
Raw
2012 Sep 22, 10:16am
Then what is it?
Be careful NW, he can drive the most sane person crazy. Maybe even to their death.
Raw
2012 Sep 22, 10:17am
Be careful NW, he can drive the most sane person crazy. Maybe even to their death.
Liars are sane people?
arrrgghh.
The fact that you're asking demonstrates your intent.
Again, thanks for your helpful comments...it must be fun for you to troll the internet and throw out meaningless discussion. The fact that you can't back up your comments means you have no clue as to what you're talking about. It's unfortunate.
No no...good try on your part for trying to deflect the fact that I just called you out. You lose.
Eman
2012 Sep 22, 11:53am
..it must be fun for you to troll the internet and throw out meaningless discussion.
Of course it is fun for him. Why do you think he's doing it...... :)
It's unfortunate.
For whom? His parents? :)
Eman
2012 Sep 22, 12:13pm
And E-man The Realt-Liar fails to substantiate inflated prices.
Neither of you clowns are on the ball.
So how much did you lose during this housing bubble Darrell? How long have you been out of your construction job? I heard it's booming again so you shouldn't have any problem finding another construction job. Unfortunately, the employers are only paying $10/hr and not $35/hour union wage this time. :(
And E-man The Realt-Liar fails to substantiate inflated prices.
Neither of you clowns are on the ball.
So how much did you lose during this housing bubble Darrell? How long have you been out of your construction job? I heard it's booming again so you shouldn't have any problem finding another construction job. Unfortunately, the employers are only paying $10/hr and not $35/hour union wage this time. :(
Learn from your victory. Prosper from your failure.
Thus the bitterness.
Now if only I could substantiate inflated prices in a thread I created about BS pricing...especially given that high end construction costs $60 per square foot. Hmmm....this is going to be a real challenge for me. I may lose sleep over this one.
I like how you make this up as you go. So now I need to discuss treasury rates and government policy along with local industry and economics because you've decided that's what I need to do?
Oh wait--I've still failed to justify inflated prices...yes yes I know...fail right?
Man you're a joke.
Maybe they all cashed out in 2006 and have large chunks of cash to put down now? On that house, you'll need $280K down minimum, and would most likely need to earn $400K per year.
Please how could you even question such clear and evident bullshite? Maybe they were what they likely were, broke actors doing a day gig.
ONLY IN LA.
There is nothing to make up.
You cowards can't substantiate inflated prices...... but "it's the land!" you declare. lmao.
It is typical of their kind if they are losing the argument they switch it to something else in a sad attempt to spin it. I have seen this all before.
I like how you make this up as you go. So now I need to discuss treasury rates and government policy along with local industry and economics because you've decided that's what I need to do?
Oh wait--I've still failed to justify inflated prices...yes yes I know...fail right?
Man you're a joke.
Man you need to get a clear view of things before jumping.
Enlighten me then on what substantiates inflated prices. I'd love to hear it, but of course you won't. Reader says
Man you need to get a clear view of things before jumping.
Why don't you explain it to me what I'm missing?
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I like this house. It's a total fixer, but it has a lot of potential. To save a lot of writing, here's my email to the realtor I'm working with that also has links to some comps:
----------------------
Hey Tracy!
I wanted to touch base with you because I just looked at a
real fixer with great potential, and I wanted to get your opinion on it.
Here's the listing:
http://www.redfin.com/CA/Altadena/1301-Rubio-St-91001/home/7260109
And this home just down the street lowered their asking price, which
matches the previous homes price per square foot of $322
http://www.redfin.com/CA/Altadena/1401-Rubio-St-91001/home/7260197
Now I know the second home is in better condition, albeit dated, and it
does have a lot more square footage, and an extra acre of land.
The closest comp I can find is this, but it's in the iffy area of
altadena:
http://www.redfin.com/CA/Altadena/2991-Olive-Ave-91001/home/7252753
You'll notice the price per square foot is $179, and this home needs a
ton of work just like the first one.
What do you think would be a realistic price for the first home at 1301
Rubio?
-----------------------------------
In reply she touched base with the listing agent and they're expecting multiple offers tomorrow and that it should go above asking price. I like the property, but considering that the one down the street slashed the price and has nearly another acre more makes me feel like this property isn't worth $322 per square foot.
Of course my realtor wants me to bid more more more, but my gut says no.
Does anyone with better knowledge of how to price a home have any insight on if this seems like a decent price? Am I off base?
Thanks!
#housing