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if you take a closer look, some of the duplex and apts are the same between both property managements, and price differ for the same units. these units are all built the same and take up about 3 blocks.
According to Zillow it's not for sale.
It also looks occupied, not left vacant being kept from people wanting to live in it.
In any case if your prices are correct it won't likely sell. Sometimes owners just leave signs out forever hoping a sucker will buy it. Usually that won't happen as it won't make appraisal.
In my neighborhood I paid 460 and one came up the same as mine at 620.
I don't know where they got that number, but it was wishful thinking. It is owner occupied and maybe they are not in a rush or even need to sell.
Do you know the square footage difference? I see that some of those 2 story's are as small as 1100 sq ft and the smaller looking 1 story's as high as 2400 sq ft. That could make the difference.
Not sure on the sq ft, from looking at it, both are about the same ground level, and all have same sq in the back yard due to property fence adjacent to another property. But i only been in the town for 2 years and notice the google map had the exact same sign up, and yes it is still occupied by the owner, not a renter. Guess he just doing what you said, throw a sign and see what sucker can offer. No rush. Their are many others like this all over the place, few are empty and looks like they been empty for a while, as grass is knee high and city code been putting notes on the doors.
Quote:
Originally Posted by aslowdodge
What is the price spread?
It vary by property management, and for same exact units just spread out over 3-4 blocks is about 200-250+-.. You can have 2 duplexes side by side, and one property will have one side, and another have the other side and both will rent differently.
Houses are just all over the place. They are about 400-800+- spread between them for almost same sq.
Location: Formerly Pleasanton Ca, now in Marietta Ga
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Quote:
Originally Posted by hitpausebutton2
Not sure on the sq ft, from looking at it, both are about the same ground level, and all have same sq in the back yard due to property fence adjacent to another property. But i only been in the town for 2 years and notice the google map had the exact same sign up, and yes it is still occupied by the owner, not a renter. Guess he just doing what you said, throw a sign and see what sucker can offer. No rush. Their are many others like this all over the place, few are empty and looks like they been empty for a while, as grass is knee high and city code been putting notes on the doors.
It vary by property management, and for same exact units just spread out over 3-4 blocks is about 200-250+-.. You can have 2 duplexes side by side, and one property will have one side, and another have the other side and both will rent differently.
Houses are just all over the place. They are about 400-800+- spread between them for almost same sq.
It might be deceptive on the price difference. The 2 story for cheaper price looks like it's bigger, but I was surprised to see some models like it at almost half the sq footage that the higher priced one story.
Honestly who cares what people do with houses they buy?! It's none of your business. It doesn't make any difference to the market. The only case where it could make a difference is probably a positive one, where a large institutional investor buys up an entire neighborhood of horribly ghetto houses, which has happened before, and they gradually renovate all of them or tear them down and build new houses, basically raising the entire area into a better neighborhood and flipping the houses for a large gain. The only way a neighborhood that bad will ever improve is for a massive influx of money to buy up the houses and change the image of the area. It's very tough for that to happen gradually.
There's a house in Las Vegas that showed up on the Zillow listings, and at first I was shocked, 10 bedrooms, 6 bathrooms, sitting on an acre, this thing was a compound! How the heck was it only $1.3 million? Seems like it should be way more. Then I took a quick look at Google maps and on the same block where this thing sits is the Problem Gambling Center and within a few blocks of that, there are pawn shops and just general ghetto-ness. It's a nice house parked in the middle of a terrible area. I have no idea why anyone built the thing. It just dropped $370,000 because still nobody would buy it even with that great price for how big it is.
So if a big investor can come in and buy up these types of places all around an area, they could theoretically turn that area into a nicer place to live pretty quickly and gain a lot of value in doing so.
The bottom line is there are always enough houses that it's pretty tough for individual people to manipulate much of anything. As the market rises, a lot of people decide to sell their houses and move somewhere else, take the gains, etc. If a market continued to go up at well above the national level, say 20% per year, it wouldn't be long before it would simply have to stabilize because too many people would see an opportunity for a large gain, sell their houses, and thus create a lot more inventory, flooding the market with houses that would curb the growth rate. This is kind of econ 101.
What other people want to do with their money or their property is entirely their business.
Honestly who cares what people do with houses they buy?! It's none of your business. It doesn't make any difference to the market. The only case where it could make a difference is probably a positive one, where a large institutional investor buys up an entire neighborhood of horribly ghetto houses, which has happened before, and they gradually renovate all of them or tear them down and build new houses, basically raising the entire area into a better neighborhood and flipping the houses for a large gain. The only way a neighborhood that bad will ever improve is for a massive influx of money to buy up the houses and change the image of the area. It's very tough for that to happen gradually.
There's a house in Las Vegas that showed up on the Zillow listings, and at first I was shocked, 10 bedrooms, 6 bathrooms, sitting on an acre, this thing was a compound! How the heck was it only $1.3 million? Seems like it should be way more. Then I took a quick look at Google maps and on the same block where this thing sits is the Problem Gambling Center and within a few blocks of that, there are pawn shops and just general ghetto-ness. It's a nice house parked in the middle of a terrible area. I have no idea why anyone built the thing. It just dropped $370,000 because still nobody would buy it even with that great price for how big it is.
So if a big investor can come in and buy up these types of places all around an area, they could theoretically turn that area into a nicer place to live pretty quickly and gain a lot of value in doing so.
The bottom line is there are always enough houses that it's pretty tough for individual people to manipulate much of anything. As the market rises, a lot of people decide to sell their houses and move somewhere else, take the gains, etc. If a market continued to go up at well above the national level, say 20% per year, it wouldn't be long before it would simply have to stabilize because too many people would see an opportunity for a large gain, sell their houses, and thus create a lot more inventory, flooding the market with houses that would curb the growth rate. This is kind of econ 101.
What other people want to do with their money or their property is entirely their business.
Yeah it was the investors both individual and mom and pop that helped turn neighborhoods around by buying and fixing up run down vacant houses .
Neighbors are always happy when a vacant run down home gets fixed up . vacant houses are an eyesore and attract squatters and crime .
Location: Formerly Pleasanton Ca, now in Marietta Ga
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Quote:
Originally Posted by jm1982
Yeah it was the investors both individual and mom and pop that helped turn neighborhoods around by buying and fixing up run down vacant houses .
Neighbors are always happy when a vacant run down home gets fixed up . vacant houses are an eyesore and attract squatters and crime .
Not always. When I first came on to CD I posted about buying rentals in Atlanta. I largely got called a greedy slumlord and was told to take my money and stick it and go away. In atlanta there are boarded up houses and plenty of places in disrepair.
I did take my money elsewhere and rehabbed 20 homes, all vacant, some boarded up. Now all have families living in them.
Not always. When I first came on to CD I posted about buying rentals in Atlanta. I largely got called a greedy slumlord and was told to take my money and stick it and go away. In atlanta there are boarded up houses and plenty of places in disrepair.
I did take my money elsewhere and rehabbed 20 homes, all vacant, some boarded up. Now all have families living in them.
Yeah lots of people have misconceptions about real estate investors /landlords and business owners in general.
Congratulations on your success . You should check out the BiggerPockets site/forum if you haven’t already .
Location: Formerly Pleasanton Ca, now in Marietta Ga
10,351 posts, read 8,574,670 times
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Quote:
Originally Posted by jm1982
Yeah lots of people have misconceptions about real estate investors /landlords and business owners in general.
Congratulations on your success . You should check out the BiggerPockets site/forum if you haven’t already .
Thank you.
I do go to that forum and it changed my real estate investing strategy. After going to several meetups where people are not allowed to sell anything like guru courses I decided to go to Atlanta. After the CD unwelcoming committee I decided to invest elsewhere.
It was a blessing in disguise as it forced me to use a property manager instead of self managing in Atlanta. In the end it actually allowed me to retire off the rentals.
I understand many people think of landlords as slumlords but when someone wants to come in and fix up abandoned houses it does help the neighborhood and increase the tax base.
Thank you.
I do go to that forum and it changed my real estate investing strategy. After going to several meetups where people are not allowed to sell anything like guru courses I decided to go to Atlanta. After the CD unwelcoming committee I decided to invest elsewhere.
It was a blessing in disguise as it forced me to use a property manager instead of self managing in Atlanta. In the end it actually allowed me to retire off the rentals. I understand many people think of landlords as slumlords but when someone wants to come in and fix up abandoned houses it does help the neighborhood and increase the tax base.
Nice when you do that, yes it helps the community and not directly calling you a slumlord or being greedy, but their are some pretty nasty ones out there and i seem to find them easy. I dont rent from them, but not hard to spot. I almost fell for one before i moved out from austin, till i question is maintenance skills, as he was covering up mold with green paint and calling it good. My allergies went through the roof!, and he wanted nearly double what the area rate was for similar houses. It is nice that some properties investors comes in with good intentions, its the bad ones that make you look bad. I admit i came off being the Sob against landlords, as i seen them in action and just plasterer their bad judgment against rest of the group.
But we still have those that just buy them up, let them sit and not do anything with them accept hide their cash and yet the community is in need of housing but the owner demands too much is what kills the community. Seems they would rather have a empty house that not producing money, vs having somebody in it and paying something for it, 100 bucks is 100 bucks.. vs zero bucks..
Nice when you do that, yes it helps the community and not directly calling you a slumlord or being greedy, but their are some pretty nasty ones out there and i seem to find them easy. I dont rent from them, but not hard to spot. I almost fell for one before i moved out from austin, till i question is maintenance skills, as he was covering up mold with green paint and calling it good. My allergies went through the roof!, and he wanted nearly double what the area rate was for similar houses. It is nice that some properties investors comes in with good intentions, its the bad ones that make you look bad. I admit i came off being the Sob against landlords, as i seen them in action and just plasterer their bad judgment against rest of the group.
But we still have those that just buy them up, let them sit and not do anything with them accept hide their cash and yet the community is in need of housing but the owner demands too much is what kills the community. Seems they would rather have a empty house that not producing money, vs having somebody in it and paying something for it, 100 bucks is 100 bucks.. vs zero bucks..
I still think it's weird there would be that many people wanting to have places sit. Asking double the market rent makes no sense and is something I haven't seen anywhere else.
From what you posted before , you are in a city with a large military base...so possibly that is why the market might be different there?
It does look like the vacany rate there is relatively high.
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