We are reaching another real estate extreme.
invite response
2014 Mar 3, 3:30pm 26,396 views 79 comments
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REpro
2014 Mar 28, 3:50am
who needs a tax write-off
How much write-off?
House is no more than $400K; rest is land value. Land does not depreciate for tax purposes.
I was going to post this earlier, but I forgot.
We should all get a pool going and buy this POS. We'd all move in and film our own reality show. Bears vs bulls. It would pay itself off in about 2 months.
Is there space for a wrestling ring???
Of course. As well as a yam patch out back, firearms storage lockers, generators and a sound-proof basement with individual cells for imprisoning and torturing realtors.
Out of curiosity I looked around the east bay city I live in at home prices and sales. Its crazy that as of now, apartments are now in many cases going for more than what we paid for our 4 br house 2 years ago. Houses like ours are now 400k more than when we bought. Just absolutely crazy and nonsensical.
REpro
2014 Mar 28, 4:26am
I was going to post this earlier, but I forgot.
We should all get a pool going and buy this POS. We'd all move in and film our own reality show. Bears vs bulls. It would pay itself off in about 2 months.
Is there space for a wrestling ring???
Of course. As well as a yam patch out back, firearms storage lockers, generators and a sound-proof basement with individual cells for imprisoning and torturing realtors.
Not bad idea. Actually, good film producer can buy this POS and after realty show ends, can flip it over for $3M as a double historical house.
Eman
2014 Jun 14, 3:48pm
House got a fresh new listing. Slightly reduced.
Well, looks like they will drop it another $100k next week to $1.3M. At what price do you think this property will sell for? I have my number, but want to see some prelim number from patneters first.
REpro
2014 Jun 14, 5:12pm
Well, based on lot value plus residual value plus improvement $650-$700K.
Based on gross income and expected maintenance costs $1,050K-$1,150K
donjumpsuit
2014 Jun 15, 1:16am
I would still need to rip out all the cheap home depot improvements and put something nice in it's place.
P.S. Long 500 sh SRS @17.76 for lack of better options
Do you understand how UltraShort funds work? Do you trade frequently?
Not another boring lecture about the decay in the ultra shorts. They are meant to be short term trading vehicles, so just trade them frequently. Still better shorting a sector than shorting any of the "new-tech" trannies that should trade at zero but are levitated in a rotating fashion by a stampede of "hedge-fund managers" chasing that yield.
Well, based on lot value plus residual value plus improvement $650-$700K.
Based on gross income and expected maintenance costs $1,050K-$1,150K
The October 2013 selling price is prob. closer to fair value.
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House sold in October 2013 for $755,000, now for sale for $1,520,000.
http://www.redfin.com/CA/San-Jose/430-N-2nd-St-95112/home/970098
#housing