HGTV "Property Virgins" in Austin

[10scoachrick]

Originally Posted by cjbailey

Try watching Real Estate Intervention on HGTV. I like both of the hosts, who assist home sellers in accepting the reality of the market by showing them homes that sold in their neighborhoods and pointing out the hard truths. The sellers don't always respond well, but he does a good job saying it like it is.

Interesting show...it seems the 'designer-diva' was employed to smooth out the 'bad-boy' RE agent persona. She's a little out of place, IMO. It is refreshing to see(real or staged) some 'reality' about housing prices compared to a couple of years ago when everything was 'make $100 in improvements--get $1000 in return!"

I was watching one of the 'House Hunter' shows last night when the newbie buyers got a interest rate of 8 per cent!!! Yikes!!! Sure enough, it was from 2007...how things change!!!

[brokeshoelace]

I just saw a episode of Real Estate Intervention the other night where a co-worker from the past was featured. He purchased the house for $520,000 and after 4 yrs, he still owed $520,000. Nice adjustable mortgage....
They finally put it up for short sale and were waiting for approval from the bank to sell for $400,000. Don't know what some of those people were thinking (or not thinking).

[jacksonian]

Originally Posted by 10scoachrick

It will be interesting to look forward/back a few years from now to evaluate the concrete countertops 'phase' in kitchen design. While I can see it as a remodel material--especially in 'artsy-craftsy' type homes, I really can't imagine it as a mainstream new-construction option...except for truly custom homes...and then it's likely to cost a pretty penny. I wonder if folks on 'Property Virgins' will say "Concrete counters...that's SO dated".

Concrete countertops have been common for over a decade already, so I'm not convinced that it will considered outdated in just a few years. I have to disagree that only "truly custom homes" tend to have concrete countertops, since my last apartment rental had them. You would be surprised how easy it is to form concrete - it just takes a little experimentation to come up with a mixture, design, and color that you're happy with. I've seen concrete with glass particles, oyster shell fragments, fine quartz, smooth aggregate, and a variety of other materials that allow for lots of flexibility. You can even have LEDs embedded to create a lighting accent or include plumbing within to create a water feature.

Granite is durable and beautiful to some, but for the price, I would like more options than just choosing a color and whether it has a bull-nose or beveled edge.

As for me, I have a solid beech countertop b/c I got a great deal on it and it looks beautiful in the space. It was also easy to work with since I could make any changes I needed with simple tools - with just my wife and I installing it, we saved a ton of money on the remodel.

[10scoachrick]

Originally Posted by brokeshoelace

I just saw a episode of Real Estate Intervention the other night where a co-worker from the past was featured. He purchased the house for $520,000 and after 4 yrs, he still owed $520,000. Nice adjustable mortgage....
They finally put it up for short sale and were waiting for approval from the bank to sell for $400,000. Don't know what some of those people were thinking (or not thinking).

In the '90s, a mortgage broker friend of mine was aghast when I said what a dumb idea ARMs and interest-only loans could be. His half-joking answer was 'any loan on which the loan officer gets paid...is a good loan'.

I think there will be quite a few folks who will fall into the current 125% re-fi trap, creating all sorts of future 'upside down' situations.

[tfresca]

Everybody made lots of money during the housing boom. I had a good friend who when looking for a house their realtor was going to drop them because they didn't want to spend more than $300k on a house. Unfortunately the ended up in a cheaper house with less upside.

[Austin97]

Originally Posted by 10scoachrick

It will be interesting to look forward/back a few years from now to evaluate the concrete countertops 'phase' in kitchen design. While I can see it as a remodel material--especially in 'artsy-craftsy' type homes, I really can't imagine it as a mainstream new-construction option...except for truly custom homes...and then it's likely to cost a pretty penny. I wonder if folks on 'Property Virgins' will say "Concrete counters...that's SO dated".

Materials will always go in and out of style, but natural materials in natural colors have the most staying power. It is the man made materials that will have the most issues - like concrete countertops or floors. I think that 10 years from now granite will still be fine (it has been used as a material for thousands of years) but some of the more unusual colors will have issues.

Carpet will go in and out of style, but wood will always be good.

[Austin97]

Originally Posted by tfresca

Everybody made lots of money during the housing boom. I had a good friend who when looking for a house their realtor was going to drop them because they didn't want to spend more than $300k on a house. Unfortunately the ended up in a cheaper house with less upside.

during the boom I had one of the last lots in jester. I wanted to build on it but I couldnt find an architect or builder who would build anything for less than 250/sq ft.

I ended up having to sell the land and buying a tract home. Although I did make 50% on the lot in around 6 months.