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Harrisburg area Cumberland, Dauphin, and Perry Counties
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Old 07-28-2020, 01:30 PM
 
584 posts, read 251,986 times
Reputation: 2082

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Quote:
Originally Posted by JakeinChina View Post
This S Queen st property isn't even the worst one. I could pull up half a dozen easily that the flip work is much worse and the margin expectations from the flippers is crazy.

I guess the demand is that much that people are willing to overlook certain details as they fear they'll be priced out of the housing market in the future if they don't buy now.
I agree that FOMO is causing a lot of regrettable decisions to come. I also can say from experience, that many many buyers have not got a clue as to how to gauge the caliber of workmanship, quality of materials, or much else. I've been in situations where a potential buyer would look at a spec. house of mine, then head down the street and buy something stunning inferior, since it hit some "hot button" for one person involved. The fact that the worn out, outdated place they bought was built to 1970s energy standards and costs hundreds more a month to heat and cool, or the septic system is failing and needs a $20K replacement, or the roof is shot, is not an issue. The one they chose had something irrational that was "better". Just like passing up on a nearly new townhouse in the burbs, for a trendy hipster, 150 year old row home in the city, with no parking, and a ton of functional and structural inadequacy or obsolescence hidden beneath the shiny laminate floors and new subway tile. Five years down the road the HGTV style flip needs another 20-30K in work, and the unlucky homeowner can't even process the fact that they are stuck in this mess.
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Old 07-28-2020, 01:57 PM
 
205 posts, read 116,516 times
Reputation: 1097
Quote:
Originally Posted by JakeinChina View Post
Did you end up buying a home in Lancaster city?
Yes, we did. Very pleased with the house. Happy to be here.
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Old 08-01-2020, 12:11 PM
 
Location: Charleston, SC
6 posts, read 1,627 times
Reputation: 15
As a Realtor, I can tell you I would never list a house for a client without hiring a professional photographer. A good one can make a house look great without any material changes to the picture. I'm not a photographer and can't tell you all of what they do, but for $175 I'll get 30 pictures that look fabulous on the MLS.

There's a lot of flipping going on here too (Charleston, SC) and yes, much of it is sub-standard. I also agree that most of my buyer clients wouldn't have a clue about the flaws if they were on their own. I'm also a contractor so I make sure they're aware of all of the flaws and substandard work. I see a lot of crap being marketed and sold though. It's sad but the big profits bring out the worst in some people
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Old 08-01-2020, 09:20 PM
 
1,047 posts, read 825,206 times
Reputation: 1437
Quote:
Originally Posted by I'mnotarobot View Post
As a Realtor, I can tell you I would never list a house for a client without hiring a professional photographer. A good one can make a house look great without any material changes to the picture. I'm not a photographer and can't tell you all of what they do, but for $175 I'll get 30 pictures that look fabulous on the MLS.

There's a lot of flipping going on here too (Charleston, SC) and yes, much of it is sub-standard. I also agree that most of my buyer clients wouldn't have a clue about the flaws if they were on their own. I'm also a contractor so I make sure they're aware of all of the flaws and substandard work. I see a lot of crap being marketed and sold though. It's sad but the big profits bring out the worst in some people
Great post and sharing. You sound talented being a realtor AND a contractor. You're able to look at property from both angles, which is a big advantage.

Same thing going on here in Lancaster as in Charleston, as I'm sure many cities in the U.S. as well, now during Covid. I can't but help to think something has to give and a bubble or something will burst. I don't think anyone knows at this point how severe or when however.
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