Broward Housing Market. (Plantation, Parkland: section 8, sale, 2015)

[CANADAN]

need an opinion from you guys. For now, this is the only house in the market that have the estate look I want.
If I decide to go for it, what do you think should be a decent offer. Mind you this needs to be refence and the interior need some major upgrades... From all the floor to washrooms refinish both of the kitchens and the stairway, paint the entire house and ofcourse blind shutters all that jazz ...

https://www.zillow.com/homedetails/6...82300559_zpid/

[BNBR]

Originally Posted by CANADAN

need an opinion from you guys. For now, this is the only house in the market that have the estate look I want.
If I decide to go for it, what do you think should be a decent offer. Mind you this needs to be refence and the interior need some major upgrades... From all the floor to washrooms refinish both of the kitchens and the stairway, paint the entire house and ofcourse blind shutters all that jazz ...

https://www.zillow.com/homedetails/6...82300559_zpid/

You would be paying too much for the house if you plan on doing all that work. It doesn't NEED that work to be done. So the seller isn't going to give it away because you want to change everything. It's like buying a car with navigation then telling the dealer you don't need navigation so you don't want to pay for it. The dealer would tell you to look at a different car.

You can buy big houses that need work in the $700 - $1M range. I'd wait for something like that to come around and then customize it or buy a house that is done mostly the way you want already.

Looking at this house, it looks like the upgrades are merely personal preference and no seller is going to give it away because you want a different color or finishes. It's a 2008, still pretty new. If you want, make an offer for $1,250,000 and be prepared to walk away.

[logybogy]

Maybe there is vacant land or a tear down you can find and just build your own new house. $1.5M is a very healthy budget.

[CANADAN]

hmm, 1.25 Mil is what I have in mind for this as well. I looked into building own house and read and heard all the nightmare stories of how contractors ********* over. I wish some of the new construction can start offering these designs instead of new warehouse look they are offering

[ruski]

Originally Posted by CANADAN

need an opinion from you guys. For now, this is the only house in the market that have the estate look I want.
If I decide to go for it, what do you think should be a decent offer. Mind you this needs to be refence and the interior need some major upgrades... From all the floor to washrooms refinish both of the kitchens and the stairway, paint the entire house and ofcourse blind shutters all that jazz ...

https://www.zillow.com/homedetails/6...82300559_zpid/

The RPR app shows the RVM value of $1,543,160, based on its algorithms. Quite different from the Zestimate.

[logybogy]

It's not an easy process but if you carefully research and vet builders, get a construction loan with a local bank that will do on site inspections, get independent verification from many sources they are trustworthy, it can work out.

You have the same risks doing a $300k renovation.

[BNBR]

Originally Posted by CANADAN

hmm, 1.25 Mil is what I have in mind for this as well. I looked into building own house and read and heard all the nightmare stories of how contractors ********* over. I wish some of the new construction can start offering these designs instead of new warehouse look they are offering

Definitely do not build your own house. It would be way more expensive.

[cfbs2691]

Originally Posted by logybogy

It's a snobby classism thing. They want the kids classmates and friends at school to be like them and not like public school kids. Private school is guaranteeing a certain demographic than public schools.

Exactly

[HotandHumid]

Originally Posted by CANADAN

Thank you so much, Just what I wanted to hear. What about the speculation that the housing market is heading towards another adjust (softer way of saying crashing). I remember all the news media in January was talking about it.

I've found from my years of living here that the housing market has always been too expensive for what the housing stock here is mostly made of, one story tract houses in the low ranch style with not much style on small lots.

There's not really much of a housing mix as most of the development in the Fort Lauderdale area was done by developers in the 50's and 60's who bought up large sections of land and swampland that they filled in and built pretty much only cookie cutter boxes that veterans bought up who had been stationed in Florida during World War ll and who found they liked the warm weather and more casual lifestyle.

It was pretty easy for a veteran then to get a government loan as a returning serviceman and local governments kept the local media from getting out accurate reports of hurricane damage and deaths to the national media to keep Florida looking attractive to potential home buyers.

[BNBR]

CANADAN,

FYI, pretty much everyone here has HotandHumid on ignore.