OneBuckeye;779966 wrote:Did this cost $?
You need to be careful. This scenario has builder-financed house written all over it. The original purchase when built is NOT and I repeat NOT market. It is inflated for a couple reasons. Don't use that new build cost and think you're getting a great deal.j_crazy;779979 wrote:i'm looking at buying a house right now for 30k less than it was sold for last year. its in the best school districts in katy and one of the best subdivisions too. the reason it's less than the others, buyers don't want a house that's been lived in when there is a brand new one on the same street.
to me this is assinine, the house is 1 year old and i'm getting a 10% discount on it. the builder puts a 3 year warranty on most things so i'm covered there and i'll have it inspected so i'll know of any real issues before moving in.
i guess what i'm trying to say is, don't be stupid. unless you're never going to move out of this house, don't worry about it being your dream home and treat it like an apartment you'll be paying rent on over the next 5 years.
and like fft said, do not rush. the market right now is saturated with homes for sale and few people lining up to buy them.
Steel Valley Football;780149 wrote:You need to be careful. This scenario has builder-financed house written all over it. The original purchase when built is NOT and I repeat NOT market. It is inflated for a couple reasons. Don't use that new build cost and think you're getting a great deal.
Good luck. I hope you know what you are doing. We never use price/sf unless it's new construction.j_crazy;780296 wrote:agreed but houses in the neighborhood are selling for 250k + (these are 4-6 year old homes but are 1200 sq ft bigger). on a $/sq ft basis, i'm looking at the 90-93 range where others are 100-105.
Also, I will NEVER build my own home until i'm in my 50's getting ready to retire and that house is in WY. I mean I'm 25, have moved 2 times (working on #3) and I've only been with the company for 4 years. The trends say I'm never going to be in any place long enough to warrant building a house.
BR1986FB;779792 wrote:Definitely go the foreclosure/bank repo route if possible. I'm just about done flipping a house that I bought for $7500. Should sell for close to $100k (put about $35-40k in materials into it). I have my eye on another one in the same school district that's listed at $8900.
password;782232 wrote:I have bought and sold many properties over the years and I find it hard to believe that you are buying any home for under $10k and turning around and selling it for $100k regardless of the remodeling investment. Unless you work for the bank and are making backroom deals for yourself, I know many Realtors that flip houses and they can't even get deals that good. Maybe you got very lucky with your purchase and you do sell it for that kind of money. Good Luck, Do you have any before and after pictures and what street is it on?
BR1986FB;782281 wrote:It was a HUD duplex that had been sitting, unoccupied, for almost 2 years when I got it. They wanted $10k and I bid $7500...probably could've gotten it lower. It is essentially now a new, one family home. Comps in this area are going for $100k (+/-). It also seems like EVERYONE wants to move to this school district (West Branch) which is supposedly one of the higher rated districts. And I also mentioned in an earlier post that there's another one listed for $8900.
password;782347 wrote:I am not saying you are lying, I am just shocked that a property in a area where houses go for $100k would go that cheap. The market must have been real bad at the time and you may have a gem on your hands and I wish you well. I assume you are from steubenville and the reason I thought it was so cheap was even in the ville you can't buy a house for that price and turn it over for$100k. I have purshased and flipped homes in the ville and Gainsville,FL many times and they are usaully in the range of $50k-$90k range before we remoldel them and flip them.
