rictus58 Posted January 14, 2016 Share Posted January 14, 2016 Good stuff, Rict. I knew there was something to it with a foreclosure. Just because you find and identify the problems, doesn't mean they're going to be fixed LOL. 1.5 months for reno is nothing for a steal of a deal! We actually were living in the house for part of it. We had no kitchen for 3 weeks. So there were a lot of microwave meals. Current equity is roughly the same amount as we sold our last house for. I couldn't be happier with the way it played out. It was stressful. yes. There were surprises for sure. But still on the positive end Link to comment Share on other sites More sharing options...
Elessar78 Posted January 14, 2016 Share Posted January 14, 2016 re:houses/carpeting There's no way to say. I'd say do the minimal amount to sell it. If it stays on the market and you think it's the carpeting then change it. You never know one of the first dozen lookers might not care. Plus, in parts of the district, the market is so hot that they'll buy anything. The other school of thought is, like you said, price it with a flooring option. A good agent will get them to yes by saying things like "carpeting can be changed/wall paint can be changed" Link to comment Share on other sites More sharing options...
Dr. Do Itch Big Posted January 14, 2016 Share Posted January 14, 2016 What part do you not understand? Will she let me bring another **** or nah? Link to comment Share on other sites More sharing options...
rictus58 Posted January 14, 2016 Share Posted January 14, 2016 re:houses/carpeting There's no way to say. I'd say do the minimal amount to sell it. If it stays on the market and you think it's the carpeting then change it. You never know one of the first dozen lookers might not care. Plus, in parts of the district, the market is so hot that they'll buy anything. The other school of thought is, like you said, price it with a flooring option. A good agent will get them to yes by saying things like "carpeting can be changed/wall paint can be changed" There are a number of different things that you can have your realtor throw into the deal. Even some off the wall things that aren't "traditional". The house we sold in 2014, we had wording in the listing that we would contribute cash to put in an extra bathroom in the basement (the house only had 1 bathroom). we offered to pay for lawncare for a year. neither of those seemed to entice buyers though. Someone only bought it once we hit our bottom line figure on the pricing. Link to comment Share on other sites More sharing options...
Chew Posted January 14, 2016 Share Posted January 14, 2016 Hardwood the whole house. **** it Link to comment Share on other sites More sharing options...
The Evil Genius Posted January 14, 2016 Share Posted January 14, 2016 This is what I'm talking about. Maybe it's just my tastes..but I would have changed this out before listing. Although the 2nd pic doesn't bother me that much, to be honest. Either way..if I bought that house, that **** getting torn up quick. Link to comment Share on other sites More sharing options...
rictus58 Posted January 14, 2016 Share Posted January 14, 2016 Those pictures will deter more buyers than they'll attract. The purple carpet is ugly. The green carpet is on another level of ugly. and it looks dirty. I agree with you. I'd likely change the carpet in both rooms before putting the house on the market. How is the house priced compared to recent sales/ like properties? Link to comment Share on other sites More sharing options...
The Evil Genius Posted January 14, 2016 Share Posted January 14, 2016 Since we are on the moving/house theme..it's been 12+ years now. Where should I look for boxes? Just buy them? Or can you still get them free from the grocery stores, stores, etc? Those pictures will deter more buyers than they'll attract. The purple carpet is ugly. The green carpet is on another level of ugly. and it looks dirty. I agree with you. I'd likely change the carpet in both rooms before putting the house on the market. How is the house priced compared to recent sales/ like properties? Trulia shows that it's about 3% above listing price for similar homes but 13% below average listing price for all homes in that area. Still, you are talking about a $480k house that is 60 years old and about 1500 sq feet. Yep. That's cheap for the area. :doh: Link to comment Share on other sites More sharing options...
tshile Posted January 14, 2016 Share Posted January 14, 2016 The risk for future sale depends on what you do with the foreclosure... it's like any other sale, except the bank isn't going to fix anything you don't like. The real problem is that foreclosures tend to be in bad shape, if for no other reason the people who got foreclosed on destroyed it because they were angry they were losing their house. We were house shopping in 2008 and people got really, really angry. People lost their houses because they lost their jobs because other people screwed up the economy. I saw one house where someone took a hammer to every inch of the hardwood floor, and drove nails through it. Houses where people poured cement into the plumbing. Or they ripped everything out of the walls. Plus anything that happened while the house was vacant and no one actually took care of it - busted pipes that took forever to be noiced and fixed. Mold. The end result is something that's hard to get a mortgage for. We had to get private financing for 6 months so we could make enough repairs that a bank would refi into a conventional loan. Not a big deal, but it's a higher interest rate for a private loan (typically.) But... we paid 210k for a house in a neighborhood where our neighbors paid 525k and the people across the street paid 480k. They're now selling for upper 3's lower 4's. If our house was finished and ready for resale we'd have comps that would put us at almost 200k equity. And our house has new roof, gutters, windows, driveway and the inside has been completely remodeled - something none of the others have. We just have to finish the master bath, 2/3 of the basement, and put hardwood floor on the main level. But it was also a lot of work. It's taken me 6 years to get to this point, since i'm doing all the work myself. But I also pay a monthly mortgage less than most people rent 2 bed apartments for in this area. And we're currently going back and forth with bids on a property in the area, if we get anything close to 200k in equity when we sell we'll be building a big house in a nicer area, with 3 acres of land, and we'll net out with only a slightly higher mortgage. So buying a foreclosure can really, really set you up over the long haul if you do it right. You just have to be able to do the work, or afford to pay someone else to do it, and time things right. Every are is different. I know that this is the only time I'm doing this. I'll never take on another project like this again. I'm entirely too lazy. But I also know that as long as the market holds where it is it'll have been very much worth it over the long haul. Link to comment Share on other sites More sharing options...
rictus58 Posted January 14, 2016 Share Posted January 14, 2016 Since we are on the moving/house theme..it's been 12+ years now. Where should I look for boxes? Just buy them? Or can you still get them free from the grocery stores, stores, etc? i got most of mine from uhaul.com. I also got a whole bunch of them from work. Paper boxes and the like. Uhaul.com will let you return any unused boxes to their retail stores which was nice. I think i spent about $50 on boxes. Link to comment Share on other sites More sharing options...
Chew Posted January 14, 2016 Share Posted January 14, 2016 Still, you are talking about a $480k house that is 60 years old and about 1500 sq feet. Yep. That's cheap for the area. :doh: Mother of god. where?! We built a house in July for cheaper than that, nearly 3x the size. Link to comment Share on other sites More sharing options...
Koolblue13 Posted January 14, 2016 Share Posted January 14, 2016 That purple shag is killer. Link to comment Share on other sites More sharing options...
Chew Posted January 14, 2016 Share Posted January 14, 2016 Since we are on the moving/house theme..it's been 12+ years now. Where should I look for boxes? Just buy them? Or can you still get them free from the grocery stores, stores, etc? go hang out around dollar stores or CVS. Uhaul will rock you for boxes. That purple shag is killer. Ron Jeremy approved. Link to comment Share on other sites More sharing options...
The Evil Genius Posted January 14, 2016 Share Posted January 14, 2016 Mother of god. where?! We built a house in July for cheaper than that, nearly 3x the size. East SF Bay Area. Prices..are...ridiculous. But that's the game. The minute you buy..it pretty much goes up (minus the economy crashing..and then it only slightly goes up). Link to comment Share on other sites More sharing options...
Mr. Sinister Posted January 14, 2016 Share Posted January 14, 2016 Those pictures look depressing Link to comment Share on other sites More sharing options...
Major Harris Posted January 14, 2016 Share Posted January 14, 2016 T.e.g...grocery stores, wal mart. ..go in and ask when their delivery tricks come and let them know u need boxes. You'll get plenty. Link to comment Share on other sites More sharing options...
Elessar78 Posted January 14, 2016 Share Posted January 14, 2016 Mother of god. where?! We built a house in July for cheaper than that, nearly 3x the size. and you accuse me of high rolling for tires. Link to comment Share on other sites More sharing options...
jpage520 Posted January 14, 2016 Share Posted January 14, 2016 Liquor stores are a good bet. Also, if you know anyone that works in any local bars they should be able to get you a ton of bottle shipment boxes too. Restaurants as well. Ask anyone you might know that works in a kitchen. Link to comment Share on other sites More sharing options...
Elessar78 Posted January 14, 2016 Share Posted January 14, 2016 Since we are on the moving/house theme..it's been 12+ years now. Where should I look for boxes? Just buy them? Or can you still get them free from the grocery stores, stores, etc? Yeah, Walmart will have 'em and similar stores. I'd go in and talk to someone at customer "service". When we did it they only got boxes in on certain days (day after shipment came in) so you had to come get em those days. We eventually bought boxes from home depot, yeah pricey but also nice boxes. Link to comment Share on other sites More sharing options...
Mr. Sinister Posted January 14, 2016 Share Posted January 14, 2016 T.e.g...grocery stores, wal mart. ..go in and ask when their delivery tricks come and let them know u need boxes. You'll get plenty. This Link to comment Share on other sites More sharing options...
The Evil Genius Posted January 14, 2016 Share Posted January 14, 2016 The sheer panic of starting to pack up a house that we have had for 12 years now..albeit doing it over a few months..is setting in. Thanks guys for the tips on boxes. Link to comment Share on other sites More sharing options...
Chew Posted January 14, 2016 Share Posted January 14, 2016 East SF Bay Area. Prices..are...ridiculous. But that's the game. The minute you buy..it pretty much goes up (minus the economy crashing..and then it only slightly goes up). duh...shoulda figured. You guys are the only market in the country hotter than us right now. I'd love...love to live in the Bay area, but them prices tho. Damn. We've only been in our house for 7 months, and we're actually thinking about testing the market to sell again LOL. Zillow says our house is worth $58,000 more than what we paid 7 months ago in July. wtf? We built our first house in Oct 2011. It appreciated 34% in 3 years, so we sold it and built again with the same builder in their next development about a mile down the street. Now, the wife wants to throw the house up on Zillow's "Make Me Move" tool and see what happens LOL. I'm tired of ****ing moving, but the market might make us move yet again. Last 2 years were the highest home prices on record for Denver, and I honestly felt bad about how much the guy paid that bought our first house. And the news did a segment recently about how spring/summer 2016 will shatter last year's record prices. Link to comment Share on other sites More sharing options...
Elessar78 Posted January 14, 2016 Share Posted January 14, 2016 we duh...shoulda figured. You guys are the only market in the country hotter than us right now. I'd love...love to live in the Bay area, but them prices tho. Damn. We've only been in our house for 7 months, and we're actually thinking about testing the market to sell again LOL. Zillow says our house is worth $58,000 more than what we paid for it when we closed 7 months ago in July. wtf? We built our first house in Oct 2011. It appreciated 34% in 3 years, so we sold it and built again with the same builder in their next development about a mile down the street. Now, the wife wants to throw the house up on Zillow's "Make Me Move" tool and see what happens LOL. I'm tired of ****ing moving, but the market might make us move yet again. Last 2 years were the highest home prices on record for Denver, and I honestly felt bad about how much the guy paid that bought our first house. And the news did a segment recently about how spring/summer 2016 will shatter last year's record prices. well I guess it's too late to move to Denver/Colorado. Link to comment Share on other sites More sharing options...
Chew Posted January 14, 2016 Share Posted January 14, 2016 and you accuse me of high rolling for tires. you act as though I had any say in the situation LOL. stupid wife Link to comment Share on other sites More sharing options...
Mr. Sinister Posted January 14, 2016 Share Posted January 14, 2016 you act as though I had any say in the situation LOL. stupid wife Put your foot down. Link to comment Share on other sites More sharing options...
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