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We are reaching another real estate extreme.


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2014 Mar 3, 3:30pm   26,430 views  79 comments

by REpro   ➕follow (0)   💰tip   ignore  

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

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75   Eman   2014 Jun 14, 3:48pm  

REpro says

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.

76   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

77   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.

78   mell   2014 Jun 15, 1:35am  

corntrollio says

mell says

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.

79   mell   2014 Jun 15, 1:41am  

REpro says

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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