The Conservative Cave
Current Events => The DUmpster => Topic started by: Texacon on August 20, 2010, 06:16:55 PM
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Yeah, these are the people who claim to love freedom. (http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x8978220)
RamboLiberal (1000+ posts) Thu Aug-19-10 05:24 PM
Original message
Death of the 'McMansion': Era of Huge Homes Is Over
They’ve been called McMansions, Starter Castles, Garage Mahals and Faux Chateaus but here’s the latest thing you can call them — History.
In the past few years, there have been an increasing number of references made to the “McMansion glut†and the “McMansion backlash,†as more towns pass ordinances against garishly large homes, which are generally over 3,000 square feet and built very close together.
What sets a McMansion apart from a regular mansion, according to Wikipedia, are a few characteristics: They’re tacky, they lack a definitive style and they have a “displeasingly jumbled appearance.â€
Well, count 2010 as the year the last nail was hammered into the McCoffin: In its latest report on home-buying trends, real-estate site Trulia declares: “The McMansion Era Is Over.â€
http://www.cnbc.com/id/38757287
Good. Fits in with the death of the Hummer!
God these people piss me off. They claim to love freedom and they are CHEERING city ordinances that will ban what someone can build. F*CK these people. I don't want to live around them. EVER.
I don't have a McMansion or even a large home but I'll be damned if I would begrudge any human of wanting to live in what they want.
HEY DUmmies. I live in a restricted subdivision so I don't have to live around YOU. You are not allowed to bring your tent and VW van in here to live in. BUT I don't care if you want to live in them.
This thread has close to 150 posts and a very positive rec .... it makes me sick.
KC
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I don't understand wanting a large house. I'm very frugal and get called a minimalist.
But, like you Texacon, I support others freedom to have it if they can and want. I find the DU criticism insincere and sounding more like petty jealousy.
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tridim (1000+ posts)
Thu Aug-19-10 05:29 PM
Response to Original message
5. Let's start dividing them up into duplexes
We can probably fit 4 units into each house.
As a former architect this is great news. I orginally got out of architecture because I hated the McBuildings I was forced to "design". It was depressing.
Sure you were an architect. Liar.
JuniperLea (1000+ posts)
Thu Aug-19-10 05:32 PM
Response to Reply #5
7. I used to hate that idea...
So many gorgeous Victorian homes in my neighborhood were cut up that way, "bastardized" is how I referred to it... but in this case, I say BRILLIANT IDEA!
There's one McMansion a block from my house that is now being used by Buddhist monks... I kind of like that.
Oh, so they're ok as long as they are used for something YOU approve of huh? What if they are filled with tax paying Christians? No? I can only imagine.
crazyjoe (472 posts)
Thu Aug-19-10 08:39 PM
Response to Reply #15
64. why don't you go back to being an architect ?
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tridim (1000+ posts)
Thu Aug-19-10 10:10 PM
Response to Reply #64
74. I've been trying to get back in, but I haven't practiced since 1995.
It's tough, especially right now
Come on .... fess up tridim. You are a loser and can't get a job and you are lying about being an architect.
Mariana (896 posts)
Fri Aug-20-10 01:01 AM
Response to Reply #9
89. I read that article in the Atlantic and I think it was right on.
I live in one of these things, an early version - it's smaller and more attractive than the newer monstrosities, kind of a proto-McMansion, if you like. I'm telling you it requires damn near constant maintenance to keep up, not just the homes themselves but the yards, too. It's a real pain in the ass, and if they ever become rentals with absentee landlords who skimp on maintenance, they'll turn to shit in no time.
Yeah, when a DUmmie owns one it is ALWAYS 'better'.
OMGosh. I missed this. In response to tridim's claim of being an architect;
crazyjoe (472 posts)
Thu Aug-19-10 08:38 PM
Response to Reply #5
63. ya, I'm a former astronaut but I quit because we need to
spend our money here on earth and not up in space!!! It was depressing.
:lmao:
Whose mole?!
Ok, I'll leave y'all to it. This is a horrible, horrible thread.
KC
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Yeah, they're all "abominations" unless it's a rich Democrat pol who builds one. Then it becomes, "nobody's business how they spend their money."
:whatever:
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Stupid DUmmie idiots!!
They hate that people can have nice things when they work hard for them!! Well,....I got news for you stupid f'en DUmmies. Take a walk. I'll buy what I want, when I want, how I want. Take your liberalism/progressive thinking and shove it your idiotic ass!! :bird: :bird:
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Does this mean Bobo the Hobo has to trade down to a sub-compact?
:evillaugh:
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Yeah, they're all "abominations" unless it's a rich Democrat pol who builds one. Then it becomes, "nobody's business how they spend their money."
:whatever:
Beat me to it!
I HATE a ****ing hypocrite worse than damn near anything else in this world.
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Yeah, I'm with them! Let's start with AlGore's waste of resources, then move on to John "the ambulance chaser" Edwards!
Oh, we can't do that? What's that you say? They earned the right to their huge carbon footprint and extravagant waste, 'cause they're down for the environment? The hell you say?
I doubt McMansions are over. I agree they're probably gone in all those "blue" cities run by DemoncRats, but out here in fly over country there's plenty of space, I we don't give a rusty what you build as long as you keep it far enough away from our property lines!
You DUmmies need to crawl back into your cardboard refrigerator cartons, tucked away in mommy's basement, and let the adults take care of it.
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Here's a fun exchange;
Mnemosyne (1000+ posts)
Thu Aug-19-10 06:23 PM
Response to Original message
32. Tell that to my sister, wife of a border patrol thug, who has bought 2 in the
last 4 years. One for $290,000 and another for $280,000, on a border patrol 'agents' pay, both over 2400 sq. ft for only three people.
Her FAUX-news watching, modeling and bar-tending degree have taken her far. :rotf:
These people base their own value, and others, based on what they own, not on what kind of people they are, really kind of sad...
crazyjoe (474 posts)
Thu Aug-19-10 08:44 PM
Response to Reply #32
65. are you saying a 2400 sq ft house is a mcmansion???
maybe it's me but this tread is really stupid.
Mnemosyne (1000+ posts)
Sat Aug-21-10 02:26 AM
Response to Reply #65
149. It is to me. n/t
Ok, so Mnemosyne is not only too stupid to realize that being a Border Patrol agent is a real job but is making fun of her sisters success while at the same time calling a 2,400 sq. foot home a McMansion.
Something tells me Mnemosyne thinks anyone who lives in a larger mobile home than she does is too wealthy and should have their decks taken off their trailers and given to others who only have stairs.
No offense to anyone here who lives in a mobile home ....I just don't see many conservatives who STAY in mobile homes for long.
KC
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Interesting.
I bought a house this month. It's 2722 square feet. It's a very good investment. Check out my facebook photos for pics.
I hope the shadow from my carbon footprint keeps the DUmmies in the dark.
Unemployment is 19% in my town. I took advantage of the foreclosure market. :evillaugh:
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Back in the late '60's and early 70's there was a government housing program (I believe it was called "235" loans) that helped the less fortunate to buy homes in the 1,000 to 1,200 sq.ft. range. So, I guess anything above that is a McMansion, huh.
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Interesting.
I bought a house this month. It's 2722 square feet. It's a very good investment. Check out my facebook photos for pics.
I hope the shadow from my carbon footprint keeps the DUmmies in the dark.
Unemployment is 19% in my town. I took advantage of the foreclosure market. :evillaugh:
That's what the market is all about. Congrats on your purchase!
KC
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Just read Wiki's definition of a McMansion. Hmmmm....who knew?
http://en.wikipedia.org/wiki/McMansion
I do think this is the "key" in description though..."McMansion is a pejorative term for a large new house which is judged as pretentious, tasteless, or badly designed for its neighborhood". Another point was "shoddy construction".
So if your house is well built, blends in with the neighborhood, and is over 3000 SF....it's not a "McMansion".
It's a nice house, in a nice neighborhood, and you like it. :-)
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I don't understand wanting a large house. I'm very frugal and get called a minimalist.
But, like you Texacon, I support others freedom to have it if they can and want. I find the DU criticism insincere and sounding more like petty jealousy.
When we were house hunting, we looked in the range of 1,200-1,700 sq feet. Anything above 1,700 sq ft just seemed like too much for us. But I have no problem with people who have 12,000 sq ft homes. I'm not paying their electricity bill.
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Just read Wiki's definition of a McMansion. Hmmmm....who knew?
http://en.wikipedia.org/wiki/McMansion
I do think this is the "key" in description though..."McMansion is a pejorative term for a large new house which is judged as pretentious, tasteless, or badly designed for its neighborhood". Another point was "shoddy construction".
So if your house is well built, blends in with the neighborhood, and is over 3000 SF....it's not a "McMansion".
It's a nice house, in a nice neighborhood, and you like it. :-)
Basically a "mcMansion" is any place that sets a DUmbass' envy gland into overdrive. There, word defined. :II:
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Interesting.
I bought a house this month. It's 2722 square feet. It's a very good investment. Check out my facebook photos for pics.
I hope the shadow from my carbon footprint keeps the DUmmies in the dark.
Unemployment is 19% in my town. I took advantage of the foreclosure market. :evillaugh:
As long as you hand out drugs for a living, you'll never be unemployed.
Awesome house. :II:
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Basically a "mcMansion" is any place that sets a DUmbass' envy gland into overdrive. There, word defined. :II:
And if that's all that does it, I want one! :fuelfire:
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Mnemosyne (1000+ posts)
Sat Aug-21-10 02:26 AM
Response to Reply #65
149. It is to me. I live next door to Bobo-The-Hobo in a 12 sq. foot Frigidaire refrigerator cardboard box.
f1x0r3d...
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Garage Mahal.... I like the sound of that. I want one. :evillaugh:
One of the guys on my island has a garage that makes me salivate every time I drive by. I was in it when I was shopping for homes a few years back, and I would have lived in that garage. It is a two story gambrel style, on a 24x36 footprint. From one end is two garage doors accessing a 24 x 24 space (two 12 x 24 parking bays), and around the back on the side is another bay door, and another 12x24 bay perpendicular to and walled off from the other two, which he had set up as a workshop. Up the stairs was a wide open 24x36 flat. I looked at it in November, and it was pretty cold outside, but quite cozy inside from the passive solar coming in the windows. The guy built it himself, and I dream about having him build me one some day.
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Interesting.
I bought a house this month. It's 2722 square feet. It's a very good investment. Check out my facebook photos for pics.
I hope the shadow from my carbon footprint keeps the DUmmies in the dark.
Unemployment is 19% in my town. I took advantage of the foreclosure market. :evillaugh:
Lemme guess--you probably picked your house up for LESS than I picked up MY 1900 sq. ft. "McMansion" on an acre-plus. A former SCC poster threw that one in my face, right before the bitter angry lesbian picked up a "historic" home for herself and her strap-on buddy.
Dammit. Then again, my assessment dropped about 20 percent from the time I bought it to now.
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Interesting.
I bought a house this month. It's 2722 square feet. It's a very good investment. Check out my facebook photos for pics.
I hope the shadow from my carbon footprint keeps the DUmmies in the dark.
Unemployment is 19% in my town. I took advantage of the foreclosure market. :evillaugh:
You can get some mighty good deals with foreclosed homes. Sometimes, you have to inspect to make sure it is not trashed by the previous owner. Other than that, it is a fire sale.
For me personally, I would not like to live in a McMansion because it is a lot of work and maintenance and I would like to keep that to a minimum. I hate those hypocrites who complain about McMansions.
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You can get some mighty good deals with foreclosed homes. Sometimes, you have to inspect to make sure it is not trashed by the previous owner.
Even if they have been trashed, the price is often so low, that it's still a very good deal.
Many (the property itself) will qualify for rehab loans. This is usually dependent upon where the house is located. Either an urban area, where home improvement will bring up the value of the area, or to prevent a subdivision value from decreasing due to the property becoming a blight on the neighborhood.
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Even if they have been trashed, the price is often so low, that it's still a very good deal.
Many (the property itself) will qualify for rehab loans. This is usually dependent upon where the house is located. Either an urban area, where home improvement will bring up the value of the area, or to prevent a subdivision value from decreasing due to the property becoming a blight on the neighborhood.
Oh yeah. At least cleaning it up is not that expensive. I could not pass such a deal like that. :-)
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Even if they have been trashed, the price is often so low, that it's still a very good deal.
Many (the property itself) will qualify for rehab loans. This is usually dependent upon where the house is located. Either an urban area, where home improvement will bring up the value of the area, or to prevent a subdivision value from decreasing due to the property becoming a blight on the neighborhood.
We were told we could get up to $50,000 in a rehab loan on certain homes if they were trashed. We saw one house that was so bad. The rehab loan would have done nothing. The cupboards, sinks, toilets, tub were all gone. Holes in the walls, mold in most areas, broken windows. It was awful. They were still asking $115,000 (sold for $386,000 in 2004) for it. What a joke. It was a beautiful home otherwise. Whoever bought it has to put a lot of money into it. For us, it obviously wasn't worth it since we were looking from homes that were move-in ready.
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Oh yeah. At least cleaning it up is not that expensive. I could not pass such a deal like that. :-)
Sometimes it's a lot more than just cleaning up.
Light fixtures, plumbing - pipes, fixtures, faucets, appliances, countertops and cabinets, carpeting, heat pumps, hot water heaters....any or all may be gone. Holes in walls....I see a lot of holes about the size of someone's fist or foot....they have a distinctive look.
One of the worst though, that was not a trashout(removal of personal property and cleaning) situation (some of those are so awful)....was one that looked like someone had stood on a ladder and peed on the walls.... either that or they had incredible aim to hit 6-7 feet up on the wall!!! :o
Sometimes....there's really nothing wrong with them....that a little paint, carpet, yard cleanup, won't fix.
I have to go to one in the next two days....depending on what it looks like....I may post some pics.
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We were told we could get up to $50,000 in a rehab loan on certain homes if they were trashed. We saw one house that was so bad. The rehab loan would have done nothing. The cupboards, sinks, toilets, tub were all gone. Holes in the walls, mold in most areas, broken windows. It was awful. They were still asking $115,000 (sold for $386,000 in 2004) for it. What a joke. It was a beautiful home otherwise. Whoever bought it has to put a lot of money into it. For us, it obviously wasn't worth it since we were looking from homes that were move-in ready.
If it qualified for $50,000....it could have been fixed for that using "average and reasonable materials and vendors".
The loan amount is based on at least 2 or 3 Realtors and an appraiser giving repair cost estimates.
As I said, up above....I have one that I'm doing tomorrow. One of the things I do on these reports is estimate
the cost of rehabbing to make the property decently habitable.
That does not mean, granite countertops, high-end custom cabinets, artisan tile floors in the kitchen, whirlpool bathtubs and Pella windows....unless that is what was there, and is damaged and needs repair.
For a kitchen or baths....I take prices from Home Depot or Lowe's cabinetry and fixtures. Same with carpet or vinyl, windows. Repairing holes is a guess on what it would cost to have it done, same with a roof. Mold is cleaning off with bleach, then painting with Killz, unless the drywall is so bad that it needs to be replaced.
Asking $115,000, for a house that originally sold for $386,000, is less than 30% of the original value....that's damn cheap if it's in a decent area. We don't see those kind of depreciations here, except in the inner city areas.
Even with all that you mentioned....here it would be about $250,000. $386,000 minus the $50,000 to bring it to value, less 20% for quick sale. That's provided the neighborhood comps still support the $386000 original value.
If the original value isn't supported....it's the current value based on 3 current lists, 3 sales within 90-180 days...within .5 mile, that can be extended to 1 mile if necessary. Which would be current value "as repaired" minus the 50k, minus 20%....unless there are a high number of foreclosures in the area, then it might be an additional 10% less.
Pricing is reviewed, at a maximum of every 30 days....in some markets less, or if several agents have gone in and all reported to list agent that it was still too high for location, condition, or current market....which can happen when a lender is trying to recover their loss.
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That damage looked more than $50,000 worth. But then again, my profession is not figuring out how much everything costs in the home.
I live in Las Vegas. All of the neighborhoods are full of foreclosures. We did find a foreclosure for $105,000. All it needed was some fresh paint in one of the bedrooms and a nice steam clean on the carpets. All of the appliances came with the home. I don't know why my husband didn't like it. It was the perfect size for us, but he complained about it. Go figure. lol
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Sometimes it's a lot more than just cleaning up.
Light fixtures, plumbing - pipes, fixtures, faucets, appliances, countertops and cabinets, carpeting, heat pumps, hot water heaters....any or all may be gone. Holes in walls....I see a lot of holes about the size of someone's fist or foot....they have a distinctive look.
One of the worst though, that was not a trashout(removal of personal property and cleaning) situation (some of those are so awful)....was one that looked like someone had stood on a ladder and peed on the walls.... either that or they had incredible aim to hit 6-7 feet up on the wall!!! :o
Sometimes....there's really nothing wrong with them....that a little paint, carpet, yard cleanup, won't fix.
I have to go to one in the next two days....depending on what it looks like....I may post some pics.
Yeah......it can be a LOT more.......we bought our current house in forclosure nine years ago, and it was trashed.......appliances, light fixtures, carpeting, some plumbing fixtures, garage doors (all three) and even the switch plates and door hardware were gone. It was a bargain at the time, and it took us a year (doing the work ourselves) to complete the renovation, the biggest part of which was removing several acres of vivid purple floral-patterned wallpaper, but it was fun, something to do, and we're happy with the end result.
If we don't count our labor, it cost about 15K to complete, and would likely qualify as a "McMansion", with over 4000 sq. ft (if you count the finished walk-out). It was then, and is CERTAINLY now, way too much house for two people and two dogs, but compared to what the same amount of money would have purchased at the time, it was a hell of a deal. Even in this depressed market, we could probably sell it for what we have in it, but we are going to wait for a while to unload it, as we're in no real rush to relocate......and haven't really figured out where the hell we want to end up.
This is our second "distressed sale" purchase, and if you buy them right, they can be really good opportunities.......and there is a lot of that out there right now. We've thought of buying another one just for spec......
doc
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Sometimes it's a lot more than just cleaning up.
Light fixtures, plumbing - pipes, fixtures, faucets, appliances, countertops and cabinets, carpeting, heat pumps, hot water heaters....any or all may be gone. Holes in walls....I see a lot of holes about the size of someone's fist or foot....they have a distinctive look.
One of the worst though, that was not a trashout(removal of personal property and cleaning) situation (some of those are so awful)....was one that looked like someone had stood on a ladder and peed on the walls.... either that or they had incredible aim to hit 6-7 feet up on the wall!!! :o
Sometimes....there's really nothing wrong with them....that a little paint, carpet, yard cleanup, won't fix.
I have to go to one in the next two days....depending on what it looks like....I may post some pics.
That too. That falls under maintenance.
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Yeah......it can be a LOT more.......we bought our current house in forclosure nine years ago, and it was trashed.......appliances, light fixtures, carpeting, some plumbing fixtures, garage doors (all three) and even the switch plates and door hardware were gone. It was a bargain at the time, and it took us a year (doing the work ourselves) to complete the renovation, the biggest part of which was removing several acres of vivid purple floral-patterned wallpaper, but it was fun, something to do, and we're happy with the end result.
If we don't count our labor, it cost about 15K to complete, and would likely qualify as a "McMansion", with over 4000 sq. ft (if you count the finished walk-out). It was then, and is CERTAINLY now, way too much house for two people and two dogs, but compared to what the same amount of money would have purchased at the time, it was a hell of a deal. Even in this depressed market, we could probably sell it for what we have in it, but we are going to wait for a while to unload it, as we're in no real rush to relocate......and haven't really figured out where the hell we want to end up.
This is our second "distressed sale" purchase, and if you buy them right, they can be really good opportunities.......and there is a lot of that out there right now. We've thought of buying another one just for spec......
doc
We got ours, because of a divorce (the wife didn't know it at the time :o ) and got ours at under value for the neighborhood, and is about the size of yours. Two years later, it had doubled in price, now 2 more years, and it's back down, about to what it would have been if it had been priced where it should have been. We figure it will not go back to where it was, but in a couple of years, maybe half again. :(
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We got ours, because of a divorce (the wife didn't know it at the time :o ) and got ours at under value for the neighborhood, and is about the size of yours. Two years later, it had doubled in price, now 2 more years, and it's back down, about to what it would have been if it had been priced where it should have been. We figure it will not go back to where it was, but in a couple of years, maybe half again. :(
I hear ya.......the house next door to us is on the market for $285K, and it's showing, but no offers after two months......it is smaller than ours. We've had no repos in our sub so far, but a number of the homes have been for sale for extended periods without results, and are now being rented until the market improves.
I told our neighbor that if her agent sells it for that, just have him move his sign over to our yard.......I'd take that in a heartbeat. Three years ago, houses in this sub were going for $350 - $400K.......the market sucks, but its happened before. It will get better in time.
doc
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I won't even get into what my last two homes sold for.......... :puke: :banghead:
One was appraised at $320K, sold for $190K
the other was a $700K "McMansion" that was foreclosed on (after I was sent away) that sold for $290K. :bird: Dummies........
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I won't even get into what my last two homes sold for.......... :puke: :banghead:
One was appraised at $320K, sold for $190K
the other was a $700K "McMansion" that was foreclosed on (after I was sent away) that sold for $290K. :bird: Dummies........
Yeah.....you got hosed on that last one (you told me the story).........
However, you kinda have to take a long view on houses.......over our lives, my wife and I have owned twelve houses, and we only really took a beating on one, which was in New York (Long Island), bought it for $400K, and sold it for $320, but when we bought it, it was new construction, and we learned a valuable lesson from that........never buy a house that the market has not established a relative historical value on.
On the upside, when we got transferred to California (Thousand Oaks), we bought our house for $250K, and three years later, sold it for $750K.......so over the long haul, we're still ahead. That was our big score, the others we made some strategic improvements, and generally made $20-30K on them when we unloaded them, but the old adage applies......"you can never go broke taking a profit", so we never really tried to make a killing on one, the California house was a fluke in the market out there, and it collapsed about three months after we left. We got lucky.
doc
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Lemme guess--you probably picked your house up for LESS than I picked up MY 1900 sq. ft. "McMansion" on an acre-plus. A former SCC poster threw that one in my face, right before the bitter angry lesbian picked up a "historic" home for herself and her strap-on buddy.
Dammit. Then again, my assessment dropped about 20 percent from the time I bought it to now.
The house is zoned multifamily and has an in law apartment attached. It's on a one acre lot with a great view of the mountains. It can only go up in value.
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You can get some mighty good deals with foreclosed homes. Sometimes, you have to inspect to make sure it is not trashed by the previous owner. Other than that, it is a fire sale.
For me personally, I would not like to live in a McMansion because it is a lot of work and maintenance and I would like to keep that to a minimum. I hate those hypocrites who complain about McMansions.
Very true.
I went to a moving sale in a very nice part of town. The house was huge and even had a 1200 sq ft game room on the back of the property that was next to the pool, hot tub and volley ball court.
I bought two nice light fixtures...that they took down for me. :-) Even the toliets and bathroom sinks were for sale. They were stripping the house before they had to move. The lady claimed that she paid cash for all the fixtures and cabinets when she had the house built four years ago...which I find hard to believe.
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That damage looked more than $50,000 worth. But then again, my profession is not figuring out how much everything costs in the home.
I live in Las Vegas. All of the neighborhoods are full of foreclosures. We did find a foreclosure for $105,000. All it needed was some fresh paint in one of the bedrooms and a nice steam clean on the carpets. All of the appliances came with the home. I don't know why my husband didn't like it. It was the perfect size for us, but he complained about it. Go figure. lol
4 to 5 years ago people were buying homes in Henderson, Las Vegas & Pahrump without even looking at them in person first. Real estate offices had waiting rooms full of people trying to buy anything they could find. This all resulted in some really good deals right now.
Las Vegas is a nice city with much to offer. In what other major city could you find a nice house for $105,000?
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Very true.
I went to a moving sale in a very nice part of town. The house was huge and even had a 1200 sq ft game room on the back of the property that was next to the pool, hot tub and volley ball court.
I bought two nice light fixtures...that they took down for me. :-) Even the toliets and bathroom sinks were for sale. They were stripping the house before they had to move. The lady claimed that she paid cash for all the fixtures and cabinets when she had the house built four years ago...which I find hard to believe.
So how much did you have to sink in to make it liveable again?
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4 to 5 years ago people were buying homes in Henderson, Las Vegas & Pahrump without even looking at them in person first. Real estate offices had waiting rooms full of people trying to buy anything they could find. This all resulted in some really good deals right now.
Las Vegas is a nice city with much to offer. In what other major city could you find a nice house for $105,000?
Not here, that's for damned sure. While new home prices ARE still in the tank (the house behind me is 2300 sq. ft. on an acre, propane versus oil heat, paved driveway, started asking at $310K and now asking $260K) here, they're nowhere near as bad as many other areas of the country. Yes, foreclosures are up, but not anywhere near what I've heard of in CA, NV, AZ, and other overbuilt areas. Even the "cheap" homes are still going for $200K, when they started out around $220K for your basic no basement, 2-car garage, 1500 sq. ft. starter on 1/8 of an acre in town.
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Not here, that's for damned sure. While new home prices ARE still in the tank (the house behind me is 2300 sq. ft. on an acre, propane versus oil heat, paved driveway, started asking at $310K and now asking $260K) here, they're nowhere near as bad as many other areas of the country. Yes, foreclosures are up, but not anywhere near what I've heard of in CA, NV, AZ, and other overbuilt areas. Even the "cheap" homes are still going for $200K, when they started out around $220K for your basic no basement, 2-car garage, 1500 sq. ft. starter on 1/8 of an acre in town.
You need to move to E TN!!
This is my old house. I sold it to them for $239,500, the end of 2006....they sold it in April for $235, 500.
(http://fs.realfocus.com/GetThumbnail.aspx?t=l&bs=4&w=512&h=400&bgc=000000&id=3287465)
(http://fs.realfocus.com/GetThumbnail.aspx?t=l&bs=4&w=512&h=400&bgc=000000&id=3050369)
Wonderful Family HomeFormal Dining RoomFormal Living RoomKItchen w/islandLots of cabinetsBuilt in deskFrom the Breakfast RoomBig, bright Breakfast RmLaundry Rm with storageLaundry RmPowder RoomFamily RoomFireplace with bookshelevesFamily RoomMaster BedroomMAster BathMaster Tub and ShowerBR#2BR#3BR#4 or Bonus RoomHAll BathRec Rm in Basement has fire...Sun RoomFenced backyard
Lot Size: 95x174.94
Acreage: Lot Description: Level Lot, Wooded
City Tax: $0 County Tax: $1, 573
Water: FUD Sewer: FUD
General Information
Rooms: 9 Bedrooms: 4 Baths, Full: 3 Baths, Half: 1
Square Feet: 3900 Upper Lev. Sq. Ft.: 1640 Main Lev. Sq. Ft.: 1220 Lower Lev. Sq. Ft.: 1040
Year Built: 1983 Age: 27
No # of Fireplaces: 2 Fireplace: Brick
Floors: Carpet, Hardwood, Vinyl
Basement Description: Walk-Out, Finished Site Built: Yes
Room Dimensions
Living Room Size: 18x12 Kitchen Size: 15X12 Dining Room Size: 12X12
Bonus Room Size: SEE BR 4 Family Room: 20X15 Rec. Room Size: 30X20
Master Bedroom Size: 20x12 Bedroom 2 Size: 12X11 Bedroom 3 Size: 13X12
Bedroom 4 Size: 15X15 Bedroom 5 Size:
Laundry Room: Yes
Extra Storage: Yes
Features
Type: 2 Story Basement Style: Traditional
Construction: Brick, Frame Garage: Two Car, Attached, Main Level, Garage Door Opener, Side/Rear Entry
Fuel: Electric Heat: Central
Cooling: Ceiling Fans, Central Features: 2nd Rec Room, Breakfast Room, Dishwasher, Disposal, Microwave, Pantry, Range/Oven, Self Cleaning Oven, Washer/Dryer Connections, Walk-in-Closets
Exterior Features: Porch - Covered, Cable Available, Deck, Insulated Windows, Neighborhood Pool, Professional Landscaped, Screened Porch, Sunroom, Wood Fence, Wood Windows
Additional Information
Public Remarks: Large family home in Farrington has fin.bsmt.4 bedrooms, 3.5 baths. Traditional floorplan w/all Brs upstairs.Large breakfast room open to kitchen with island.Rec rm, office and computer rm. Fenced backyard. The BEST location!!
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Not bad, for a smallish lot. I guess I'm spoiled now. Wouldn't want to live on anything smaller than what I have now...nice and set back from the road, with plenty of woods behind me to buffer me from the neighbor (singular--so far) behind me, assuming anyone ever buys that place.
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Not bad, for a smallish lot. I guess I'm spoiled now. Wouldn't want to live on anything smaller than what I have now...nice and set back from the road, with plenty of woods behind me to buffer me from the neighbor (singular--so far) behind me, assuming anyone ever buys that place.
I know....we are on a bit over 3 acres now.
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Not here, that's for damned sure. While new home prices ARE still in the tank (the house behind me is 2300 sq. ft. on an acre, propane versus oil heat, paved driveway, started asking at $310K and now asking $260K) here, they're nowhere near as bad as many other areas of the country. Yes, foreclosures are up, but not anywhere near what I've heard of in CA, NV, AZ, and other overbuilt areas. Even the "cheap" homes are still going for $200K, when they started out around $220K for your basic no basement, 2-car garage, 1500 sq. ft. starter on 1/8 of an acre in town.
We still have new homes being built in some parts of Las Vegas/Summerlin. I don't understand why. I hate the stupid cookie cutter houses that are spaced two inches apart. They look like cardboard boxes made out of stucco. We did find a really amazing 70's house near us. It's listed at $315,000 though. :( It looks like a mansion from the 70s. Very beautiful home.
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So how much did you have to sink in to make it liveable again?
The house I bought was in move in condition. It had been empty since last fall, the bank kept dropping the price. It had sold last fall at auction but then the buyer backed out due to down payment issues.
It did have a leak in the pump house. A pipe on the water pump had a leak. The well and septic had to be certified prior to purchase, I guess they did not turn on the power when they did this. :censored:
The leak cost me $30 to have fixed. Not a big deal.
The people that owned the house prior to me put a lot of money into upgrades. The kitchen is brand new & they added a bathroom.
I looked at several bank owned homes. Most of them had issues & were over priced in my opinion. There were a few gems out there that I put offers in on. Some of these REO companies never even respond to the agent.
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An if you think McMansions are a steal, just head out to an RV dealer with cash and see what you can do on a Diesel Pusher. You'll be more popular than a pork chop at the dog pound. :lmao:
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You need to move to E TN!!
This is my old house. I sold it to them for $239,500, the end of 2006....they sold it in April for $235, 500.
Very nice house. It reminds me of those I'm used to seeing where I lived in Illinois. The price is about the same also.
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Very nice house. It reminds me of those I'm used to seeing where I lived in Illinois. The price is about the same also.
It was a nice house, when I sold it. We bought it for #132,000, in '83...as new construction. Spent a fortune correcting builder mistakes. I took over 2 mortgages on it, when I got divorced.... :censored: I should have moved, but it would have cost me more to buy a much less expensive house, than to take over both mortgages, as I would have had to put 30% down on a different house....because I was a divorced woman. :censored:
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I'll be happy with my little 3br 2ba in town I paid 79,000 for. :-)
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It was a nice house, when I sold it. We bought it for #132,000, in '83...as new construction. Spent a fortune correcting builder mistakes. I took over 2 mortgages on it, when I got divorced.... :censored: I should have moved, but it would have cost me more to buy a much less expensive house, than to take over both mortgages, as I would have had to put 30% down on a different house....because I was a divorced woman. :censored:
Now who woulda divorced a sweetheart like you??????
He musta been a total jerk! 'Specially if he left you with the bills!
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Now who woulda divorced a sweetheart like you??????
He musta been a total jerk! 'Specially if he left you with the bills!
He's a urologist.
He's on Wife #3 now. I was the first.
Those "rumors" you always hear about doctors and nurses? Yeah, well....I meant it when I said my marriage vows in front of the priest. I was very stupid and very naive.....
I didn't get stuck with all the bills.....just a mostly unpaid 735 BMW, and my credit cards. I chose[/] to take over the house so my kids wouldn't get uprooted and any more distressed than they were over the whole mess. Otherwise, I would have had to pay for half of a $26,000 quarter horse he went out and bought, a week before he left, on the line of credit at the bank....that I had signed a couple of years before. My share of the upkeep on the horse would have been $1400 PER MONTH. He quitclaimed the house to me, and I quitclaimed the horse to him.
Get married again? :lmao: :lmao: :lmao: :lmao:
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Get married again? :lmao: :lmao: :lmao: :lmao:
Sounds familiar. Especially when I hear people asking when I'm getting married again.
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He's a urologist.
He's on Wife #3 now. I was the first.
Those "rumors" you always hear about doctors and nurses? Yeah, well....I meant it when I said my marriage vows in front of the priest. I was very stupid and very naive.....
I didn't get stuck with all the bills.....just a mostly unpaid 735 BMW, and my credit cards. I chose[/] to take over the house so my kids wouldn't get uprooted and any more distressed than they were over the whole mess. Otherwise, I would have had to pay for half of a $26,000 quarter horse he went out and bought, a week before he left, on the line of credit at the bank....that I had signed a couple of years before. My share of the upkeep on the horse would have been $1400 PER MONTH. He quitclaimed the house to me, and I quitclaimed the horse to him.
Get married again? :lmao: :lmao: :lmao: :lmao:
Werd Sista!
Two exes both filed bankruptcy within days of the ink drying on the decree. I paid off so much crap that wasn't even mine! Marriage? Oh heck to the NO!
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It was a nice house, when I sold it. We bought it for #132,000, in '83...as new construction. Spent a fortune correcting builder mistakes. I took over 2 mortgages on it, when I got divorced.... :censored: I should have moved, but it would have cost me more to buy a much less expensive house, than to take over both mortgages, as I would have had to put 30% down on a different house....because I was a divorced woman. :censored:
debk, take a look at this, where the truly ostentatious go to create ugly, expensive homes on tiny lots. We call it "Sucker's Cove" not "Tucker's Cove" (http://www.juliedufault.com/property/browse/Portsmouth_%7C_Tuckers_Cove_Luxury_Homes/28263/1/)
Proof that some people have more money than taste or common sense.
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debk, take a look at this, where the truly ostentatious go to create ugly, expensive homes on tiny lots. We call it "Sucker's Cove" not "Tucker's Cove" (http://www.juliedufault.com/property/browse/Portsmouth_%7C_Tuckers_Cove_Luxury_Homes/28263/1/)
Proof that some people have more money than taste or common sense.
OMFG...and I thought Rye was overpriced crap.
BTW--this realtor is on CRACK. I just checked on Rochester--she's selling a 1961 ranch, 3BR, 1BA, 960 sq. ft. on less than 1/2 an acre, on one of the busiest roads in town...FOR $180K!!!
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OMFG...and I thought Rye was overpriced crap.
BTW--this realtor is on CRACK. I just checked on Rochester--she's selling a 1961 ranch, 3BR, 1BA, 960 sq. ft. on less than 1/2 an acre, on one of the busiest roads in town...FOR $180K!!!
Heh. I got one of those for almost half of that down here last year.
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Heh. I got one of those for almost half of that down here last year.
Yeah, well, you're not dealing with the Boston commuters either. I got my place which is double the size, more than double the land, for about 50K more at the peak of the market, and I thought I was getting a steal.
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Yeah, well, you're not dealing with the Boston commuters either. I got my place which is double the size, more than double the land, for about 50K more at the peak of the market, and I thought I was getting a steal.
Oh, I know. I consider myself fortunate to live down here, and buy a house down here. I never woulda been able to afford anything like what I have here up there.
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Oh, I know. I consider myself fortunate to live down here, and buy a house down here. I never woulda been able to afford anything like what I have here up there.
Trust me, you have NO idea what REALLY overpriced crap is. The crackerbox I sold when I moved out of CA is a prime example.
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OMFG...and I thought Rye was overpriced crap.
BTW--this realtor is on CRACK. I just checked on Rochester--she's selling a 1961 ranch, 3BR, 1BA, 960 sq. ft. on less than 1/2 an acre, on one of the busiest roads in town...FOR $180K!!!
One just like it here went for a quick (estate) sale price of 229K. The couple was from Rochester btw and wanted a better school system. :thatsright:
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Yeah, well, you're not dealing with the Boston commuters either. I got my place which is double the size, more than double the land, for about 50K more at the peak of the market, and I thought I was getting a steal.
Saw a four striper with drag bag coming from the Logan Shuttle bus station just the other day and got a couple stews rackin up down the road too. It is still way cheaper than Boston to get real good city services; sidewalks, sewer, cops, the whole ball of wax.
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Trust me, you have NO idea what REALLY overpriced crap is. The crackerbox I sold when I moved out of CA is a prime example.
Sometimes ignorance is bliss. I'm cool with that.
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I just finished an "interior" report from hell!!
Extensive work needs to be done, about 10K just to clean it up, mow yard, remove a "dead" pickup truck from the backyard, repair deck railings, and a few other things. Major work, I've estimated at an additional $53,500.
House was built in 1965, basement ranch - 1300SF on main level, full basement with a 1 car garage, and supposedly 600 SF finished in the basement but was too nasty to tell, huge kitchen with eating area, LR w wood burning FP, 3 br's, 2 baths. .34 ac. County taxes only, public schools with elementary, middle school and HS, each in the top 3 of the public schools in the county (we are a 1 school system county)
Priced it at $55,000 low, $67,000 high, with the $10,000 repairs. Totally repaired it should list $139,900 to $154,900.
(http://i16.photobucket.com/albums/b7/dmkoefoot/front.jpg)
(http://i16.photobucket.com/albums/b7/dmkoefoot/extensivewoodrot.jpg)
(http://i16.photobucket.com/albums/b7/dmkoefoot/kit.jpg)
(http://i16.photobucket.com/albums/b7/dmkoefoot/kitflrh20damagereplc.jpg)
(http://i16.photobucket.com/albums/b7/dmkoefoot/LRbrokenfanlight.jpg)
I go to some terrific places doing my job!! :puke:
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You need to move to E TN!!
This is my old house. I sold it to them for $239,500, the end of 2006....they sold it in April for $235, 500.
(http://fs.realfocus.com/GetThumbnail.aspx?t=l&bs=4&w=512&h=400&bgc=000000&id=3287465)
(http://fs.realfocus.com/GetThumbnail.aspx?t=l&bs=4&w=512&h=400&bgc=000000&id=3050369)
Wonderful Family HomeFormal Dining RoomFormal Living RoomKItchen w/islandLots of cabinetsBuilt in deskFrom the Breakfast RoomBig, bright Breakfast RmLaundry Rm with storageLaundry RmPowder RoomFamily RoomFireplace with bookshelevesFamily RoomMaster BedroomMAster BathMaster Tub and ShowerBR#2BR#3BR#4 or Bonus RoomHAll BathRec Rm in Basement has fire...Sun RoomFenced backyard
Lot Size: 95x174.94
Acreage: Lot Description: Level Lot, Wooded
City Tax: $0 County Tax: $1, 573
Water: FUD Sewer: FUD
General Information
Rooms: 9 Bedrooms: 4 Baths, Full: 3 Baths, Half: 1
Square Feet: 3900 Upper Lev. Sq. Ft.: 1640 Main Lev. Sq. Ft.: 1220 Lower Lev. Sq. Ft.: 1040
Year Built: 1983 Age: 27
No # of Fireplaces: 2 Fireplace: Brick
Floors: Carpet, Hardwood, Vinyl
Basement Description: Walk-Out, Finished Site Built: Yes
Room Dimensions
Living Room Size: 18x12 Kitchen Size: 15X12 Dining Room Size: 12X12
Bonus Room Size: SEE BR 4 Family Room: 20X15 Rec. Room Size: 30X20
Master Bedroom Size: 20x12 Bedroom 2 Size: 12X11 Bedroom 3 Size: 13X12
Bedroom 4 Size: 15X15 Bedroom 5 Size:
Laundry Room: Yes
Extra Storage: Yes
Features
Type: 2 Story Basement Style: Traditional
Construction: Brick, Frame Garage: Two Car, Attached, Main Level, Garage Door Opener, Side/Rear Entry
Fuel: Electric Heat: Central
Cooling: Ceiling Fans, Central Features: 2nd Rec Room, Breakfast Room, Dishwasher, Disposal, Microwave, Pantry, Range/Oven, Self Cleaning Oven, Washer/Dryer Connections, Walk-in-Closets
Exterior Features: Porch - Covered, Cable Available, Deck, Insulated Windows, Neighborhood Pool, Professional Landscaped, Screened Porch, Sunroom, Wood Fence, Wood Windows
Additional Information
Public Remarks: Large family home in Farrington has fin.bsmt.4 bedrooms, 3.5 baths. Traditional floorplan w/all Brs upstairs.Large breakfast room open to kitchen with island.Rec rm, office and computer rm. Fenced backyard. The BEST location!!
Wow, cheap property tax. Our property tax is around $10,000.
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Wow, cheap property tax. Our property tax is around $10,000.
The taxes are only about $4k on our house now. We live in the county, so we don't have to pay city taxes, we're about 2 blocks outside the city limits, if that far. :-)
We don't have state income tax either.
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Sounds familiar. Especially when I hear people asking when I'm getting married again.
I've never been married & most people know better then to ask me when I'm getting married. Especially the girls I date. :evillaugh:
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debk, take a look at this, where the truly ostentatious go to create ugly, expensive homes on tiny lots. We call it "Sucker's Cove" not "Tucker's Cove" (http://www.juliedufault.com/property/browse/Portsmouth_%7C_Tuckers_Cove_Luxury_Homes/28263/1/)
Proof that some people have more money than taste or common sense.
Wow.
In Las Vegas I can buy four year old houses for about $45 to $50 a square foot.
I know a guy that just bought a 2700 square foot house for around $11 a square foot & it's a very nice house.
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The taxes are only about $4k on our house now. We live in the county, so we don't have to pay city taxes, we're about 2 blocks outside the city limits, if that far. :-)
We don't have state income tax either.
Braggart. :p
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Braggart. :p
I was gonna say, my property taxes aren't much higher (a hell of a lot lower than CA when you factor in home prices).
But deb darlin--not only do we have no income tax, we have no sales tax either (at least not unless you buy prepared foods, booze, or hotel rooms.)
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I was gonna say, my property taxes aren't much higher (a hell of a lot lower than CA when you factor in home prices).
But deb darlin--not only do we have no income tax, we have no sales tax either (at least not unless you buy prepared foods, booze, or hotel rooms.)
Sales tax varies from county to county down here, and it's a tiny bit higher inside the city limits too. I think it at 9.78 now. I try not to look at it, because it's on everything!!! Plus we have a 17% "sin" tax on alcohol, cigarettes, movies and concerts.
Our property taxes are low, but our house prices are considerably lower than up north or out west. I watch House Hunters on HGTV a lot, and am amazed at the housing costs in some places!!! :o
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Sales tax varies from county to county down here, and it's a tiny bit higher inside the city limits too. I think it at 9.78 now. I try not to look at it, because it's on everything!!! Plus we have a 17% "sin" tax on alcohol, cigarettes, movies and concerts.
Our property taxes are low, but our house prices are considerably lower than up north or out west. I watch House Hunters on HGTV a lot, and am amazed at the housing costs in some places!!! :o
Another reason to stay put. No state income tax, 8.25 sales tax, and low property taxes too. I guess I am stuck here.
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Braggart. :p
You know ... someplace else that doesn't have state income tax is Texas. Ever thought about moving to Texas?
:uhsure:
KC
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You know ... someplace else that doesn't have state income tax is Texas. Ever thought about moving to Texas?
:uhsure:
KC
Are you just filled with vinegar or what? You better run and hide.
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I just finished an "interior" report from hell!!
Extensive work needs to be done, about 10K just to clean it up, mow yard, remove a "dead" pickup truck from the backyard, repair deck railings, and a few other things. Major work, I've estimated at an additional $53,500.
House was built in 1965, basement ranch - 1300SF on main level, full basement with a 1 car garage, and supposedly 600 SF finished in the basement but was too nasty to tell, huge kitchen with eating area, LR w wood burning FP, 3 br's, 2 baths. .34 ac. County taxes only, public schools with elementary, middle school and HS, each in the top 3 of the public schools in the county (we are a 1 school system county)
Priced it at $55,000 low, $67,000 high, with the $10,000 repairs. Totally repaired it should list $139,900 to $154,900.
I go to some terrific places doing my job!! :puke:
Was this a foreclosed home Deb? Where is this?
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Are you just filled with vinegar or what? You better run and hide.
LOL yeah, that one might have been over the line ..... But God created me to walk the line.
:fuelfire:
KC
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I just got my proposed tax notice in the mail the other day. $843.19 with no budget change or $800.96 if they do change it. These are up from the last/original owners taxes of $581.83 last year. Not as bad as I feared. I'll take 'em. :-)
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LOL yeah, that one might have been over the line ..... But God created me to walk the line.
:fuelfire:
KC
Well, I am cutting out of here, before she reads that. :ohnoes:
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I just got my proposed tax notice in the mail the other day. $843.19 with no budget change or $800.96 if they do change it. These are up from the last/original owners taxes of $581.83 last year. Not as bad as I feared. I'll take 'em. :-)
heh! You don't even want to know what the tax is on 140 acres!
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You know ... someplace else that doesn't have state income tax is Texas. Ever thought about moving to Texas?
:uhsure:
KC
Are you willing to take me in?
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Are you willing to take me in?
Hmmmm do you eat much?
:-)
KC
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Hmmmm do you eat much?
:-)
KC
No, not at all. :-*
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No, not at all. :-*
LOL! Ok, if you can put a good detail job on a Harley I guess we'll put you up.
KC
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LOL! Ok, if you can put a good detail job on a Harley I guess we'll put you up.
KC
I don't detail Harley but I would be happy to ride on the back of one.
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I don't detai al Harley but I would be happy to ride on the back of one.
That sounds even better. Why wash one when you can be riding. I like the way you think!
KC
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That sounds even better. Why wash one when you can be riding. I like the way you think!
KC
Wait a minute! What happened to ass, grass, or cash, nobody rides for free?
I guess I must be "old school"!
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Wait a minute! What happened to ass, grass, or cash, nobody rides for free?
I guess I must be "old school"!
Did I exclude any of those??
:lmao:
Just kiddin' BEG. I would take you for a ride just so you could visit Texas again! I know it has to be hell living on the left coast.
KC
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Was this a foreclosed home Deb? Where is this?
Yes...it's already owned by the bank, but not on the market yet.
I posted the "good" pictures....the "bad" are really gross. It's in E TN.
My job on this one, was to go in, inspect the property and take lots of pictures - there were 62 on this one. Then do a report that's about 7-10 pages which among other stuff, includes for detailed comparison - 3 current lists and 3 solds from the last 180 days that match up based on several specific criteria, details of any damage, costs to ready for market and costs to bring the property to a "similar to similar" state with the comps, prices to sell within certain time frames, upload all pictures with descriptions.
I should have taken some more, but it was totally dark in a couple of places in the basement, and I don't go into dark rooms that I have no idea what might be in there. :o I stick my arm in as far as I can, and take a pic, then lighten/contrast on my computer. And I wasn't about to touch anything in this house if I could help it.....it was full of spiders - lots of webs with egg sacs :o , fleas, and other flying critters. The basement was open, for all I know there were rodents and snakes in there too.
Normally I would open kitchen cabs, refrigerator to check in them, to see quality, condition, what's left in them - I was afraid to open the fridge (I've done that before when they were full, and electricity has been off for some time :puke: and the kitchen cabinets were broken and covered in mildew. In this case, I put down to clean thoroughly in order to sell, and $10,000 for a new kitchen - which would include cabinets, sink, faucet, floor, countertops, and appliances - which would all be needed to compare with comparable properties within a half mile.
When it's not going to be my listing....usually when I do an inspection, the house has already had a trashout done, and cleaning is either started or already done. It makes it easier to see the damage, evaluate what it will take to fix or if the "fix" needs to be done in order to sell.
It's very unusual to see a house in this price bracket...and the house's location....in this type of condition. This one needs new everything....siding, roof, etc., kit and bathroom floors, lots of drywall patching, 2 new bathrooms, new kitchen, heat/air, what few light fixtures were left were broken, interior/exterior doors, hardwood may be able to be refinished, but will need some patching, whole interior painted, replace the decks and put in minimal landscaping. The driveway is about 30 feet short of the garage! ::) It will need the plumbing and electrical inspected at the very least.
I estimated a bit over $53K, for materials and a combination of professional contractors and sweat equity. Depending on what the bank decides to pay to get it ready to market - which may reduce some of the rehabbing costs - and what the bank decides to not only sell it for, but what amount they actually end up accepting - a buyer could end up with a property somewhere between $20-30,000 over costs.
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Yes...it's already owned by the bank, but not on the market yet.
I posted the "good" pictures....the "bad" are really gross. It's in E TN.
My job on this one, was to go in, inspect the property and take lots of pictures - there were 62 on this one. Then do a report that's about 7-10 pages which among other stuff, includes for detailed comparison - 3 current lists and 3 solds from the last 180 days that match up based on several specific criteria, details of any damage, costs to ready for market and costs to bring the property to a "similar to similar" state with the comps, prices to sell within certain time frames, upload all pictures with descriptions.
I should have taken some more, but it was totally dark in a couple of places in the basement, and I don't go into dark rooms that I have no idea what might be in there. :o I stick my arm in as far as I can, and take a pic, then lighten/contrast on my computer. And I wasn't about to touch anything in this house if I could help it.....it was full of spiders - lots of webs with egg sacs :o , fleas, and other flying critters. The basement was open, for all I know there were rodents and snakes in there too.
Normally I would open kitchen cabs, refrigerator to check in them, to see quality, condition, what's left in them - I was afraid to open the fridge (I've done that before when they were full, and electricity has been off for some time :puke: and the kitchen cabinets were broken and covered in mildew. In this case, I put down to clean thoroughly in order to sell, and $10,000 for a new kitchen - which would include cabinets, sink, faucet, floor, countertops, and appliances - which would all be needed to compare with comparable properties within a half mile.
When it's not going to be my listing....usually when I do an inspection, the house has already had a trashout done, and cleaning is either started or already done. It makes it easier to see the damage, evaluate what it will take to fix or if the "fix" needs to be done in order to sell.
It's very unusual to see a house in this price bracket...and the house's location....in this type of condition. This one needs new everything....siding, roof, etc., kit and bathroom floors, lots of drywall patching, 2 new bathrooms, new kitchen, heat/air, what few light fixtures were left were broken, interior/exterior doors, hardwood may be able to be refinished, but will need some patching, whole interior painted, replace the decks and put in minimal landscaping. The driveway is about 30 feet short of the garage! ::) It will need the plumbing and electrical inspected at the very least.
I estimated a bit over $53K, for materials and a combination of professional contractors and sweat equity. Depending on what the bank decides to pay to get it ready to market - which may reduce some of the rehabbing costs - and what the bank decides to not only sell it for, but what amount they actually end up accepting - a buyer could end up with a property somewhere between $20-30,000 over costs.
Sounds more like the bank needs to find an enterprising construction worker willing to fix it himself! I could do this for a lot less than 53k if my labor was my own. it would turn out to be a pretty good investment in the long run. If the bank farms it out, somebody's goin' to lose money!
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I don't detail Harley but I would be happy to ride on the back of one.
Hi!!
My name is Harley...
(sorry...couldn't resist...) :-)
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4 to 5 years ago people were buying homes in Henderson, Las Vegas & Pahrump without even looking at them in person first. Real estate offices had waiting rooms full of people trying to buy anything they could find. This all resulted in some really good deals right now.
Las Vegas is a nice city with much to offer. In what other major city could you find a nice house for $105,000?
Hell 4 or 5 years ago 105k may have bought you a doghouse in the Vegas area. :-)
Back then houses were increasing in value as they were being built.
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Sounds more like the bank needs to find an enterprising construction worker willing to fix it himself! I could do this for a lot less than 53k if my labor was my own. it would turn out to be a pretty good investment in the long run. If the bank farms it out, somebody's goin' to lose money!
The bank will do the bare minimum required to market the property.
They will trash it out, clean it, mow the yard, tow the truck from the backyard. The cleaning should also include making sure that any mold/mildew is at least either wiped off, maybe spray with Killz. (as hot and humid as it's been this summer, and with some broken windows - there has to be some mold in the drywall, at the very least in the basement, as it appeared to have been wet down there)
For safety reasons, they may cap off any wiring needing it - but it's doubtful that the electricity would be turned on because it's unknown if the wiring is safe enough to do it. If I was the list agent, there's no way that I would turn it on.
They will do a pipe winterization, they always do if the house may be on the market after October 15.
After it's cleaned out, it may require a pest treatment to get everything killed off, but that won't be determined until after the cleaning and everything is hauled away. I know the siding has wood boring insects in it, I could see the damage, but unless the buyer gets a mortgage or asks for a termite treatment , one won't be done.
They will have to repair one door, because the house can't be secured otherwise, and the broken windows will be boarded.
Since the job will be over $1000, the bank will require 3 estimates. They always pick the cheapest.
In this market, a lender won't spend the money to do anything else in this price range. They will just price it to sell, and take the loss, particularly with the housing market as it is.
This house is on the low side for SF and price in it's designated mls market area. In the last 180 days, 185 houses have sold in that mls area ranging from $67,500 to $2,240,000 with an average time on market of 105 days. There are no other foreclosures - currently on the market - in that mls area. There are currently 278 houses(does not incl condos) listed in that area ranging from $97,000 to $19,000,000....only 21 between $97,000 and $150,000....there one at $97k, the next is $119,900.
For someone who can do the work themselves....they will either have a great house for themselves, a rental that will rent for $1000-1200/month, or a "flip". Due to it's location, a flip should sell within 90-130 days, maybe less. For someone who has to hire out, it will depend on how much they can do themselves and how much they can't....as to just how good a deal it will be.
People who do trashouts can make some money. It can be a very, very, VERY nasty job. It used to be, that the trashout person could do whatever they want with what they remove. Now, if it's worth over $600, the trashout person has to tell the bank. Takes an awful lot of stuff to come up to $600 when it's used stuff. :uhsure:
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The bank will do the bare minimum required to market the property.
They will trash it out, clean it, mow the yard, tow the truck from the backyard. The cleaning should also include making sure that any mold/mildew is at least either wiped off, maybe spray with Killz. (as hot and humid as it's been this summer, and with some broken windows - there has to be some mold in the drywall, at the very least in the basement, as it appeared to have been wet down there)
For safety reasons, they may cap off any wiring needing it - but it's doubtful that the electricity would be turned on because it's unknown if the wiring is safe enough to do it. If I was the list agent, there's no way that I would turn it on.
They will do a pipe winterization, they always do if the house may be on the market after October 15.
After it's cleaned out, it may require a pest treatment to get everything killed off, but that won't be determined until after the cleaning and everything is hauled away. I know the siding has wood boring insects in it, I could see the damage, but unless the buyer gets a mortgage or asks for a termite treatment , one won't be done.
They will have to repair one door, because the house can't be secured otherwise, and the broken windows will be boarded.
Since the job will be over $1000, the bank will require 3 estimates. They always pick the cheapest.
In this market, a lender won't spend the money to do anything else in this price range. They will just price it to sell, and take the loss, particularly with the housing market as it is.
This house is on the low side for SF and price in it's designated mls market area. In the last 180 days, 185 houses have sold in that mls area ranging from $67,500 to $2,240,000 with an average time on market of 105 days. There are no other foreclosures - currently on the market - in that mls area. There are currently 278 houses(does not incl condos) listed in that area ranging from $97,000 to $19,000,000....only 21 between $97,000 and $150,000....there one at $97k, the next is $119,900.
For someone who can do the work themselves....they will either have a great house for themselves, a rental that will rent for $1000-1200/month, or a "flip". Due to it's location, a flip should sell within 90-130 days, maybe less. For someone who has to hire out, it will depend on how much they can do themselves and how much they can't....as to just how good a deal it will be.
People who do trashouts can make some money. It can be a very, very, VERY nasty job. It used to be, that the trashout person could do whatever they want with what they remove. Now, if it's worth over $600, the trashout person has to tell the bank. Takes an awful lot of stuff to come up to $600 when it's used stuff. :uhsure:
Who decides the value? To me, someone else's crap is worthless, yet could be worth $$$ to them.
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Who decides the value? To me, someone else's crap is worthless, yet could be worth $$$ to them.
Depends on what it is.
I have a trashout guy that I always use. He goes to the property, he sends me an estimate, I forward it to the bank, I get a yea or nay from them, I call my TO guy. He does the work, sends me a copy of his invoice and the "after" pics, and he sends one to the bank.
I don't know how the stuff itself is valued. The bank is only looking at pictures. I don't take pictures of every little thing in a house....I can't.
I do know that a lot of stuff left is junk and just gets trashed.
All kinds of stuff gets left. TV's, computers, furniture, appliances, tools are the usual big items. I had one where the guy left his big screen tv-the kind from about 10 yrs or so ago(he said it didn't work) and two big table saws. He told me I could have them, he didn't have a place to put them. M would have liked the saws...but we really didn't have a place for them either, or anyway to get them.
I did one house, that was my listing, the guy left a room full of computer towers, monitors, keyboards, and boxes and boxes of stuff to fix them with. That house was not trashed out. It was a big old Craftsman house, had a cellar, 1st and 2nd flr and a huge finished attic, awesome woodwork, but severely damaged, sold for $19,000. It never even made it to the mls, because the buyer saw my info in the window, called me, I called the bank. It helped persuade the bank that the city condemned it that day! City gives a list of items that have to be fixed in 30 days, or they start the process to tear it down. The bank would have had to fix everything. The buyer just had to show continued progress on fixing the issues to keep the City away.
I did another house, that about all the homeowner took was their clothes. Most of the furniture was left, all the appliances, tv's, computer, books, etc. They pulled everything out of the kitchen cabinets, threw it on the floor, along with about half the refrigerator...then either they or their dogs ....pooped - yep, pooped!!!....all over it all!!! Thank God it was in November and not July or August!!! Place was still full of flies and fleas.
There are times when I think I really need to buy a hazmat suit. :(
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debk you have a very interesting job!
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All I'm gonna say, deb, is that I'm glad that NYS doesn't ask me to do residentials. I have enough of a time with utilities and vacant lands. Saw two black bears about 20 yards in front of the car Tuesday, in Greene County, while out doing vacants. Small bears, and they were running full tilt. But, I got a good look at both.