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Old 12-08-2017, 08:20 AM
 
Location: Boston
5 posts, read 5,016 times
Reputation: 13

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https://www.redfin.com/OH/Cincinnati.../home/76118037

15 months to appreciate $360,000 (87%)? Is Hyde Park the new Tulip Bulb crisis? I mean my username is literally "reach for the stars" but even I have to throw some cold water on this.
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Old 12-08-2017, 10:02 AM
 
10,135 posts, read 27,475,197 times
Reputation: 8400
Yea, HP is the catsass. Everyone wants to be here. Have a look at 2901 Observatory 45208 if you want some sticker shock.
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Old 12-08-2017, 12:15 PM
 
Location: Boston
5 posts, read 5,016 times
Reputation: 13
I mean it's a great area and all.. but you can't slap in a Home Depot kitchen and update a bathroom and get $360,000.
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Old 12-08-2017, 02:17 PM
 
Location: Cincinnati, OH
410 posts, read 586,978 times
Reputation: 337
Bronzie Design is a pretty reputable contractor in the area, not exactly a fly by night Home Depot flipper. This house had a two story addition created during the renovation.

If you do research on the house you will find it had not been sold in over 30 years. Usually that means minimal updates. Some of the homes on that block suffered extensive flood damage a few years ago. They lost HVAC and had electrical issues.
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Old 12-08-2017, 02:18 PM
 
4,823 posts, read 4,943,728 times
Reputation: 2162
Quote:
Originally Posted by Ad Astra View Post
https://www.redfin.com/OH/Cincinnati.../home/76118037

15 months to appreciate $360,000 (87%)? Is Hyde Park the new Tulip Bulb crisis? I mean my username is literally "reach for the stars" but even I have to throw some cold water on this.
It's not just Hyde Park in the new Tulip Bulb crisis; it's going on again in many places. The Tulip Bulb crisis was 100s of years ago; the US Mortgage crisis led depression was just 10 years ago.

Hard to believe but the housing/lending industries are in full greed mode again and the Ponzi-like pyramid scheme that is the US housing market is beyond laying its new foundation in 2017.
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Old 12-09-2017, 08:21 AM
 
Location: Colorado
389 posts, read 330,428 times
Reputation: 721
Wow, listing a home that looks to be worth about 120K for 755K. P.T. Barnum was right.
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Old 12-09-2017, 09:58 AM
 
649 posts, read 816,721 times
Reputation: 1240
They bought it for $415k in 2016 (which itself seems insane) and they put a full two story addition on the back this year, thats where the value add has come from. They are into that house for $615 most likely.
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Old 12-09-2017, 11:53 AM
 
Location: Cleveland and Columbus OH
11,053 posts, read 12,452,032 times
Reputation: 10385
No bubble here folks, totally healthy pricing, nothing to see, move along. Right after you sign on the dotted line.
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Old 12-09-2017, 12:12 PM
 
Location: Cincinnati, OH
410 posts, read 586,978 times
Reputation: 337
Quote:
Originally Posted by ms12345 View Post
Wow, listing a home that looks to be worth about 120K for 755K. P.T. Barnum was right.
$120,000 ... in Hyde Park?
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Old 12-09-2017, 12:50 PM
 
Location: Erie, PA
3,696 posts, read 2,897,496 times
Reputation: 8748
Quote:
Originally Posted by ms12345 View Post
Wow, listing a home that looks to be worth about 120K for 755K. P.T. Barnum was right.
^^^^This

To answer the original question, whatever they are smoking would cause most people to fail the drug test at work and it sure isn't Marlboros...lol

Seriously, 775K?
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