Home Buying & Real Estate Thread

Discussion in 'General' started by will0827, Jul 13, 2012.

  1. edshoecator

    edshoecator

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    Where in L.A. county? Prices are stupid right now. Bidding wars on every property it seems.
     
  2. Los Angeles

    Los Angeles formerly bright nikes

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    I know bro, West Covina area
     
  3. edshoecator

    edshoecator

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    Congrats! Area sucks if you’re going there traveling east but you have everything there.

    Malls are cool, area is great to raise a family too.

    Hope they accept!
     
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  4. Los Angeles

    Los Angeles formerly bright nikes

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    Thanks, yeah been around this area my whole life, love it man, especially since i work in dtla

    Find out tmrrw
     
  5. slicknick951

    slicknick951

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    Good luck
     
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  6. Chill Bill

    Chill Bill formerly ihaveaquestion

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    Okay I usually use NT for everything
    Currently in the market to purchase a home

    and I had a question about how to offer
    My previous agent said they look at the last few sales in the division and come up with a price

    For the last two years it was three properties in that division that sold for
    107k (Right next door) 3B 2Br
    106k (Left side next door) 3B 2br
    122k (3 houses down) 3B 2br

    The property I'm looking at is listed for 135k

    What would a good offer price be
     
  7. atlsfinest

    atlsfinest

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    Where do you live?
     
  8. Chill Bill

    Chill Bill formerly ihaveaquestion

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    ATL
    West side
    Closer to Winston
     
  9. slicknick951

    slicknick951

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    Was the 122k more recent?
    I would look at other 3brs 2baths in near by divisions that are also for sale to get a good gauge. See what they are selling for.

    Two years is too far back to look at comps try to look about 2-5 miles away for the last 3-6 months.
    Similar square footage, BR/BA etc.
     
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  10. Chill Bill

    Chill Bill formerly ihaveaquestion

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    106k is the most recent 8/01/17
    122k 7/26/17

    Range of SQ FT is around 1400 to 1500

    Expanding out to 5 miles you see houses that have sold for 111k, 124k (1800sqft)
    That's within the 9 month time frame along with 3b 2br
     
  11. B Sox

    B Sox

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    Don't see the issue with coming in lower, where the 2 comps are, as long as there aren't multiple offers.

    What condition were the comps at? Level of finishes?
     
  12. Chill Bill

    Chill Bill formerly ihaveaquestion

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    Everything really is the same
    Finished basement
    updated kitchen with white cabinetry, granite counters, and stainless appliances

    These are common in the homes that recently sold in that area
    Only difference is the backyard space

    I did a little more research on the home
    It was sold back in August 2017 for 70,000 and remolded

    So I'm thinking of maybe offering 120k
     
  13. slicknick951

    slicknick951

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    Yea if there aren’t multiple offers and it isnt fully renovated while the others needed some work i would go in lower. Worse that can happen is they say no or counter.

    Sometimes realtors can fish around for a number by asking if they have any offers in or offers that were rejected to get you kinda close to the number.

    Good luck
     
  14. slicknick951

    slicknick951

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    Our posts crossed. Ok looks like a flip.

    How long has it been on the market? Either way your 120 isnt too far off to at least get a counter.
     
  15. B Sox

    B Sox

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    Speaking as a realtor, this is what any competent one would do.
     
  16. Chill Bill

    Chill Bill formerly ihaveaquestion

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    Just hit the market today,
    I'll see how the area looks tomorrow morning,

    Greatly appreciate all the response
     
  17. CrownRoyalDaddy

    CrownRoyalDaddy formerly tdoggy57

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    Damn i need to move down south... all i can get for that price here is a shack. And delaware aint even poppin like that lol
     
  18. Los Angeles

    Los Angeles formerly bright nikes

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    Damn bros, looks like someone came in with an all cash offer for the house ... on to the next one.
     
  19. getback

    getback

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    For real. I couldn't even purchase a one bedroom apartment in Boston for that :lol:

    It's crazy how different the COL is.
     
  20. CrownRoyalDaddy

    CrownRoyalDaddy formerly tdoggy57

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    Word, and youre in a different tier than me. Im not even getting a shack in Boston

    Im paying $220k for the crib i close on in March, and its a nice 3 BR 2 Bath ranch with a 2 car garage and nice fenced in yard. Sounds about what hes paying about half price for. And im having to move to the boonies of my state to get that lol
     
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  21. atlsfinest

    atlsfinest

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    I live in the Bay Area and I pay $2,800/month to rent a 3br/2ba house 45 mins away from San Fransisco. $3,000 1 br are the norm for SF/Berkeley. It's wild out west.
     
  22. slicknick951

    slicknick951

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    Paid 140k for my small 3br 2ba in Florida in November. Same house where I live in NY would have easily been 400k plus another 6k a year in taxes.

    Cant wait to close on this coop so I can buy my first investment property
     
  23. getback

    getback

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    Yeah that's about the going rate in the sought after neighborhoods in Boston. It's unbelievable.
     
  24. edshoecator

    edshoecator

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    Sorry to hear.

    I've lost a few homes to cash buyers who just flip.

    Not hating the hustle but we legit want to move to these neighborhoods. Let the little guy flourish for once.
     
  25. stork

    stork

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    All the more reason & justification to be investing in any capacity.