SOME Minnesota Realtors Growing Fat From Selling Overpriced Homes To African Immigrants (Brooklyn Park: real estate, transporting)

[Glenfield]

Originally Posted by Genise1953

Why do you think that is the case?

I have an elderly cousin who lives in the Englewood district of California, who bought a house in the early '70's for $30,000. Now this house is valued at $225,000, and it's only a 3 BDR/1Bath, 2000 square foot home...no brick or stone...what we call "ranch style" down here...just a basic house that can now be bought for less than $80,000. What I didn't mention was that each of my friends' houses are less than 2000 square feet...i.e. about 1500-1700 square feet...and they are paying through the nose.

WOW!!!

That's unbelievable!

I can't even wrap my head around that!

You don't seem to be aware that real estate prices vary widely across the country. Look through these houses to give yourself an idea of how this works.
How much house does $200,000 buy? - MSN Real Estate

Your friends bought some of the cheapest places available in this area. Maybe you should look through one of the MLS websites before you drag out the tired old discrimination complaint.

[Campeador]

Originally Posted by Genise1953

When two of my close friends, immigrants from Kenya, here since 2001, made the decision to relocate to Brooklyn Park, Minnesota from Arlington, Texas, to be closer to family and friends, little did they know they would be paying an arm and a leg for houses that didn't seem to be worth their price tag. After a few frustrating months of traveling back and forth from Texas to Minnesota, they reluctantly decided to settle a few blocks from each other and within a few miles of some of their family members and friends.

Even though both guys are RNs, earning decent salaries, they just couldn't see themselves paying upwards of $200,000+ for the type of house you could buy in Texas for $100,000-$150,000 which they feel are generally more attractive, in better neighborhoods, with better schools and etc. Both guys feel that their houses were waay over-priced and not that appealing to the eye. In fact, most of the houses they looked at, including theirs, were just this side of ugly. But the pickings weren't that good either, under the $100,000 range. And the neighborhoods where these houses were located were full of ramshackle houses, some occupied and some abandonded, with shady characters walking the streets, nothing to write home about.

Friend #1 with 2 kids, paid $110,000 for his 3 BDR/1 Bath with a $1,100 house note and a 30 year mortage, in an okay neighborhood.

Friend #2 with 3 kids, paid $112,000 for a 4 BDR/2 Bath with a $1,350 house note and a 30 year mortage, in an okay neighborhood.

Their wives assured them that things would be okay, as soon as they settled in, and reminded them that the Kenyan community in Minnesota was large and vibrant, and in no time at all, they would be warmly welcomed into the fold. And besides, the children would love playiing in the snow, and who in their right minds would miss Texas's hellish heat.

Still, my guy friends feel they were taken advantage of, because they were African immigrants, which may have made them seen as easy pickings, to unscrupoulous realtors. And after listening to friends and family relate similar stories, regarding the shark-like tendencies of some realtors, they were convinced that they weren't imagining this type of behavior. To the man (or woman), not one of his friends or family members paid under $100,000 for their homes...and which did not look close to the kind of house you could buy, down here in Texas, for that kind of money.

Now, almost a two year later, both are a bit bitter, disillusioned and struggling, since both wives are stay-at-home Moms and they bend my ear , on the regular, regarding the "foolishness" of their decision. Both vow to move back to Texas one day...and damn the hellish heat.

On the other hand...there are the two Madams to convince...and that won't be easy.

So...what do you think?

Do SOME greedy (opportunistic) realtors see African immigrants (or any immigrants) as easy marks when it comes to homebuying...or should said immigrants try and educate themselves and/or seek advice from someone they trust, as the swim through the murky waters of homeownership.

I have lived in both metro areas (DFW and MSP). Overall, Arlington is not a nice city. There are some nice parts near River Legacy park, but for the most part it is known as a very poor city that scores terribly in quality of life measures. Furthermore, as many posters point out, real estate is higher in MPLS than in most of TX, and nearly all of DFW, and very rightly so. It's a much nicer city, even with the long winters.

[Genise1953]

Originally Posted by Beenhere4ever

Do immigrants ever do any research before moving? There's a big African community here that could have told them what they were likely to pay for a house here. Frankly, I think anyone immigrating from Africa, Asia, or South America is likely to be inept at housing transactions since I'm sure the whole business of housing in those continents is different. We have so many legalities, things ruling what conditions are in a house for sale. I'm betting Minneapolis is stricter than Brooklyn Park, but probably EVERYWHERE here is stricter than Texas. Texas is full of Latin Americas new to the country. They probably get sold hovels that would get knocked down in Minneapolis.

Ineresting!

And why is Minneapolis "stricter" than Texas", in your opinion?

I agree that immigrants ARE generally "inept" (ignorant) when it comes to the intricacies of homebuying. That's understandable, when you take into account their previous living conditions and their views of "home ownership".

However, the Latinos down here DO buy "hovels" that they renovate to the fullest, which wards off city officials that will condemn houses that aren't up to city code specifications, and will definitely raze these"hovels" if deemed necessary. Hell, the city will even raze suspected drug houses.

One thing about the Latinos down here...most are very talented when it comes to housing cnstruction and maintenance. They excel at turning "hovels" into well-maintained homes that are an asset to the neighborhood.

In fact, many of these renovated "hovels" are the pride of the neighborhood, and look better than some of the $100,000+ homes in Brooklyn Park, particularly the landscaping.

[Genise1953]

Originally Posted by moving123456

Especially Texas, they have some big and nice looking houses for the lowest prices that I have seen anywhere in the US.

TX definitely had better deals than NC, GA, and FL when I have been looking in the past.

I don't think anyone took advantage of them, there is just a huge difference in the housing markets.

You are more than correct!

For $100,000, you can get a badass house in a good neighborhood in Texas...compared to the average house in Brooklyn Park...especially in the 55443 zip code.

IMO...for $100,000, I had better see a brick house...not a wood frame house...which is par for Brooklyn Park.

[ManBearPig1]

Originally Posted by Genise1953

For $100,000, you can get a badass house in a good neighborhood in Texas

If it's in Texas, it's probably not a good neighborhood.

[golfgal]

Brick is not all that common here. You can't apply building standards from one area to another. For 100k here you are going to be living in a dump, plain and simple. If you want all brick, plan on spending 500k for something more than 2000 sq feet. Does that put the cost difference in perspective?

[Genise1953]

Originally Posted by Glenfield

You don't seem to be aware that real estate prices vary widely across the country. Look through these houses to give yourself an idea of how this works.
How much house does $200,000 buy? - MSN Real Estate

Your friends bought some of the cheapest places available in this area. Maybe you should look through one of the MLS websites before you drag out the tired old discrimination complaint.

The "tired old discrimination complaint" is not an idle complaint, especially down here in Texas.

If one is paying $100,000+ for a home, then said home should reflect that price...i.e.said house shoud be the "bomb" IMO.

But they aren't!

Why is that?

And why should immigrants or non-immigrants settle for less?

From what I've seen, such houses aren't worth the money.

In the words of my daughter:

"They paid that much for that?"

[Beenhere4ever]

Originally Posted by Genise1953

The "tired old discrimination complaint" is not an idle complaint, especially down here in Texas.

If one is paying $100,000+ for a home, then said home should reflect that price...i.e.said house shoud be the "bomb" IMO.

But they aren't!

Why is that?

And why should immigrants or non-immigrants settle for less?

From what I've seen, such houses aren't worth the money.

In the words of my daughter:

"They paid that much for that?"

I don't think they should BUT this thread proves they did. THEN they complained! What it means to ME is that they had very little clue how to properly shop a house. It isn't rocket science to find out the median home price. If there are FLAWS in a house, you send in a professional inspector or assessor to find them, they produce a report, and you (1) find out if the home is even legally saleable and (2) you decide if you can justify moving into said house. Let's get serious. This is about the biggest "investment" the average person makes. Would you put $100,000 into a stock you knew nothing about? Immigrants assume too much about business people. And even that isn't justifiable because they don't show up here never having experienced dishonesty overseas. There's no earthly reason for them to expect any sales person, no matter what is sold, is honest. They should expect MORE from themselves!!! This may be the promised land for the poor of the world, but it is riddled with dishonesty.

[Genise1953]

Originally Posted by ManBearPig1

If it's in Texas, it's probably not a good neighborhood.

Untrue!

Visit Texas.

You would be surprised.

Some of the best neighborhoods are populated by Latinos.

For some reason, they seem to motivate their neighbors into taking pride in their neighborhood...and their renovated "hovels" look better than some of the houses in Brooklyn Park that sold for $100,000+.

IMO...SOME Minnesota realtors push sub-par houses to immigrants, because said immigrants feel such houses are a "step up" from what they were used to...and don't understand that the real estate market...or...theat $100,000 price tag for a house that doesn't reflect it's price...as far as it's overall apearance and location.

[GraniteStater]

Originally Posted by moving123456

Especially Texas, they have some big and nice looking houses for the lowest prices that I have seen anywhere in the US.

TX definitely had better deals than NC, GA, and FL when I have been looking in the past.

I don't think anyone took advantage of them, there is just a huge difference in the housing markets.

Don't forget that higher population areas of TX houses have skyrocketing property taxes along with huge electricity bills.