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I follow real estate for fun/hobby on realtor, look only at $1-15m homes. I find it funny when a home will sit on market in a resort area for a year plus, say for $2.3m near Lake Tahoe (close to the lake) then it goes offline. Appears 3-6 months later with an increase in price of say $200-300k. Yeah, your home has been for sale for a few years now, and you think increasing price is good thing???
Yes, I checked the recently sold list. Homes that sold for mid-400K in the same neighborhood have 2 bathrooms and 2 usually levels (or at least a cape). So it does seem a bit aggressively priced. But at the end of the day, regardless of what a builder thinks market value should be, homes are only worth what buyers are willing to pay. I'm not interested in paying more than $430 for a one story, 1 bath home.
Then keep looking until you find the home that you'll be willing to buy. You may simple be more savvy then the buyer who will eventually pay the price being asked for the home you are discussing.
I don't care if people disagree with me, but there is a way to do it that doesn't involve talking down to and insulting someone. I also find it laughable that the rudest of the bunch claim they were "just trying to be helpful." That is akin to someone stealing your muffin, probably eating it for themselves, then shrugging and saying "just trying to help you lose weight." A few of you also keep putting words in my mouth and steamrolling past what I say, inferring the wrong thing, twisting it and then scoffing at how dumb I am (with "you're" impeccable grammar.) I never said that I think his *net* would be 100K, that he shouldn't profit *at all* from a flip, and I sure as Dickens didn't imply I thought I wouldn't have to pay contractors if I were to buy a fixer upper...
You may think you didn’t say that, but in responding to numerous posts that’s essentially exactly what you conveyed. That they shouldn’t profit “this much”, as though you know how much profit they’d be getting, that you wouldn’t pay however much to a contractor for the same work (again, as though you know what labor costs are or understand time/value of money curves, which your responses indicate you don’t), and so on and so forth. Many of us are not flippers or realtors, we are home owners. Ones who have done this before, and priced out labor and contracts. Yet you ask for opinions or help and then criticize or argue with us for giving our legitimate, time won experience. Rinse and repeat for many pages.
Gently, if you just wanted to vent about pricing on a place, rewording your original post or clarifying immediately that you didn’t want input would have been a better way to go. Instead, people keep trying to help you and explain what could be going on to justify what you’re seeing and it’s to the mattresses from there. It’s a little obnoxious that you’re claiming to be misunderstood when you are actually twisting the posts of others, myself included, to hear what you want out of them.
Location: Formerly Pleasanton Ca, now in Marietta Ga
10,296 posts, read 8,461,365 times
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Quote:
Originally Posted by Abby Schmitters
I don't care if people disagree with me, but there is a way to do it that doesn't involve talking down to and insulting someone. I also find it laughable that the rudest of the bunch claim they were "just trying to be helpful." That is akin to someone stealing your muffin, probably eating it for themselves, then shrugging and saying "just trying to help you lose weight." A few of you also keep putting words in my mouth and steamrolling past what I say, inferring the wrong thing, twisting it and then scoffing at how dumb I am (with "you're" impeccable grammar.) I never said that I think his *net* would be 100K, that he shouldn't profit *at all* from a flip, and I sure as Dickens didn't imply I thought I wouldn't have to pay contractors if I were to buy a fixer upper...
Yup, it wasn't insulting saying people here were just out to take advantage of naive buyers. You won't even admit when you're rude but are sure quick to point at others. People were being helpful at first, but all you did was argue with them. You admitted you aren't experienced at buying houses, yet you seem to have the expertise to dismiss the opinions of others who have way more experience than you. Why even post your original subject when you won't listen to others? Apparently you knew the answer already and everyone else did not.
Thank you for pointing out the auto correct error on my iPad of "you're ". That just goes to show you don't have much of a leg to stand on when you start resorting to things like this.
So what should his profit have been? No one here said that you claimed he shouldn't profit from a flip, that's just you being defensive.
You implied it was outrageous that the price was 100k more. Why was it outrageous ? You don't know how much money he has into it or the circumstances so how do you know it was outrageous? What if he had to pay off liens against the house on top of the purchase price? You probably never even thought of that. Years ago I got a low price on a house but had to pay off a lien to close it. That never showed up on any reports as part of the cost I paid for the house.
What if he had 99k more than the purchase price into it, is 100k still outrageous?
The fact is you don't know his true costs and his profit margin. You still judged his 100k to be outrageous even though you don't have all the facts. That's the whole subject of your post.
It doesn't matter that people here gave you valid possibilities why it could be 100k, you still argued with them anyways so why bother asking. Apparently you knew the answer yourself already.
Years ago I got a low price on a house but had to pay off a lien to close it. That never showed up on any reports as part of the cost I paid for the house.
I had to pay off an extreme electric bill that "went with the house" and not the previous owner. Talk about a scam. If I didn't pay his old bill they wouldn't turn on the electric to my house.
I don't care if people disagree with me, but there is a way to do it that doesn't involve talking down to and insulting someone. I also find it laughable that the rudest of the bunch claim they were "just trying to be helpful." That is akin to someone stealing your muffin, probably eating it for themselves, then shrugging and saying "just trying to help you lose weight." A few of you also keep putting words in my mouth and steamrolling past what I say, inferring the wrong thing, twisting it and then scoffing at how dumb I am (with "you're" impeccable grammar.) I never said that I think his *net* would be 100K, that he shouldn't profit *at all* from a flip, and I sure as Dickens didn't imply I thought I wouldn't have to pay contractors if I were to buy a fixer upper...
A novice beginning a real estate search making assumptions about an MLS listing that you believe is a "flip-job" that isn't "worth" the money or "fair" because of when and what the seller bought it for, is analogous (akin) to joining City Data and within a couple of months being confident in telling experienced members off and choosing to debate your perception of what a COMP is and why they exist in the real estate market and on the Real Estate Forum. Versus actually understanding the community you're joining and the topic. Boosted by the repeated sentiment: "I don't care what anyone says....MY.....".
Neither experience is likely to end to your liking.
I always remember to tell myself "Facts don't care about your feelings."
ETA: I suggest you re-read at least the FIRST FORTY REPLIES and re-evaluate your accusations.
Last edited by runswithscissors; 10-11-2017 at 11:36 AM..
I follow real estate for fun/hobby on realtor, look only at $1-15m homes. I find it funny when a home will sit on market in a resort area for a year plus, say for $2.3m near Lake Tahoe (close to the lake) then it goes offline. Appears 3-6 months later with an increase in price of say $200-300k. Yeah, your home has been for sale for a few years now, and you think increasing price is good thing???
Yeah someone like that is definitely not motivated , they are just fishing .
Only way to get a deal if someone is motivated to sell . They got a job out of state . Divorce . Inherited house and have no interest to keep . Etc .
It could be a bad agent too. It doesn't cost the buyer anything to get the home listed on the market so maybe they figure why not .
Old listings definitely make most buyers wonder though when you see on the market 200 days or something .. it's natural to ask why didn't it sell .
Abby, have you heard anything from this flipper about your offer? I hope you are able to get the house, even if you have to pay more than your original offer; it seems like a house you liked.
You may think you didn’t say that, but in responding to numerous posts that’s essentially exactly what you conveyed. That they shouldn’t profit “this much”, as though you know how much profit they’d be getting, that you wouldn’t pay however much to a contractor for the same work (again, as though you know what labor costs are or understand time/value of money curves, which your responses indicate you don’t), and so on and so forth. Many of us are not flippers or realtors, we are home owners. Ones who have done this before, and priced out labor and contracts. Yet you ask for opinions or help and then criticize or argue with us for giving our legitimate, time won experience. Rinse and repeat for many pages.
Gently, if you just wanted to vent about pricing on a place, rewording your original post or clarifying immediately that you didn’t want input would have been a better way to go. Instead, people keep trying to help you and explain what could be going on to justify what you’re seeing and it’s to the mattresses from there. It’s a little obnoxious that you’re claiming to be misunderstood when you are actually twisting the posts of others, myself included, to hear what you want out of them.
If your interpretation of my OP was that I was inquiring why something is priced as it is, a simple answer would go something like this: "because of xyz costs." Instead I received snark with the general gist being "you don't know anything about costs, I guess you expect things for free, you entitled snot."
Abby, have you heard anything from this flipper about your offer? I hope you are able to get the house, even if you have to pay more than your original offer; it seems like a house you liked.
Never heard back. It was an okay house, far from perfect. I could've made it work with some time and money. I'm over it. Will be pursuing other options.
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