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Posted: 6/3/2017 5:49:40 AM EDT
[#1]
Lol
No there is nothing to be worried about man. Prices have increased like 10% a year for 3 years almost everywhere and a total of 50% in some neighborhoods since the recession. That has made folks realize they can finally get out from being underwater and the market got a bit too flooded. This will always be an area that's in demand due to the immense amount of snowbirds and liberals seeking new areas to ruin. |
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Posted: 6/6/2017 10:06:57 AM EDT
[#2]
Also, people are over pricing more often now due to several factors- agents, zestimates, and the unique nature of how you can have a 1m property next to a 250k property makes for more complex calculations.
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Posted: 6/6/2017 3:27:19 PM EDT
[#3]
Lots of flippers in my neighborhood, strip the interior and do a slap-n-dash remodel. Paint the exterior and put up a privacy fence triple the price.
In other words an $80k property that sold to "We Buy Ugly Houses" now is prices over one quarter million dollars. And sells in a couple of months. Where is all this money common from? |
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Posted: 6/7/2017 8:59:03 AM EDT
[#4]
Quote HistoryQuoted:
Lots of flippers in my neighborhood, strip the interior and do a slap-n-dash remodel. Paint the exterior and put up a privacy fence triple the price. In other words an $80k property that sold to "We Buy Ugly Houses" now is prices over one quarter million dollars. And sells in a couple of months. Where is all this money common from? |
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Posted: 6/7/2017 3:49:31 PM EDT
[#5]
Quote HistoryQuoted:
I wish flippers made that much on homes, I just flipped a house on 83rd ave n, bought for 162k+ repairs 95k+ holding costs 4k+ closing costs to sell 15k=276k, I only netted 315k on the sale= 39k profit and that is split between me and my partner who financially backs the flips. And this one I had to put several hundred hours of work into it. |
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Posted: 6/8/2017 5:50:21 PM EDT
[#6]
Quote HistoryQuoted:
What are you doing wrong? Two properties on 34th Ave North between 14th and 15th bought for under $100k and sold for near $300k within a couple of month of listing. |
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Posted: 6/8/2017 9:33:12 PM EDT
[#7]
Quote HistoryQuoted:
That isn't the entire picture, the one flip I have shows I paid $110k however I paid $162k. Just because it shows 100k doesn't actually mean thats all they sold for. That area is hotttt, I doubt anyone got anything for 100k unless it was a tear down.. A few weeks ago I had an agent call me and said some New Yorkers would pay me $300k and all closing costs. Said they wanna have a park view in their front yard. I guess they don't understand what that actually means - namely homeless people taking shits and falling asleep on the benches 24/7. I don't see how prices can keep going up like this. I guess with carpetbaggers retiring there is always going to be demand but the local economy cannot support unfinanceable starter homes for $250k |
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Posted: 6/9/2017 3:41:28 PM EDT
[#8]
Quote HistoryQuoted:
That isn't the entire picture, the one flip I have shows I paid $110k however I paid $162k. Just because it shows 100k doesn't actually mean thats all they sold for. That area is hotttt, I doubt anyone got anything for 100k unless it was a tear down.. Quote HistoryQuoted:
Quoted:
What are you doing wrong? Two properties on 34th Ave North between 14th and 15th bought for under $100k and sold for near $300k within a couple of month of listing. |
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Posted: 6/9/2017 5:00:43 PM EDT
[#9]
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That is where I live and have talked to the sellers and looked up the sale price on the county property tax appraiser's web page. |
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Posted: 6/10/2017 3:19:28 PM EDT
[#10]
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Well I need to hang around you more because I would double my income buying properties for 100k and reselling for 300k, even if I spent 100k on the rehab. |
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Posted: 6/10/2017 3:42:39 PM EDT
[#11]
Quote HistoryQuoted:
Two examples don't make a trend. At the 'T' intersection of 14th St. N and 30th Ave. N a builder tore down a dilapidated house and built a HUGE house, asking price $469,000. It is still available if you're interested. There's also two more that sold on 30th Ave and 11th St but I'm unsure how much those sold for. At least $325k |
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Posted: 6/10/2017 7:26:47 PM EDT
[#12]
Quote HistoryQuoted:
Yes but just a few blocks away, on 28th Ave and 12th St a builder tore down a dilapidated house and built TWO houses that both sold immediately for $400k. There's also two more that sold on 30th Ave and 11th St but I'm unsure how much those sold for. At least $325k Quote HistoryQuoted:
Quoted:
Two examples don't make a trend. At the 'T' intersection of 14th St. N and 30th Ave. N a builder tore down a dilapidated house and built a HUGE house, asking price $469,000. It is still available if you're interested. There's also two more that sold on 30th Ave and 11th St but I'm unsure how much those sold for. At least $325k |
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Posted: 6/10/2017 10:48:50 PM EDT
[#13]
Quote HistoryQuoted:
I wish flippers made that much on homes, I just flipped a house on 83rd ave n, bought for 162k+ repairs 95k+ holding costs 4k+ closing costs to sell 15k=276k, I only netted 315k on the sale= 39k profit and that is split between me and my partner who financially backs the flips. And this one I had to put several hundred hours of work into it. The housing market is flooded right now and there is a lot of shitty homes. I was looking the end of last year and people were asking top dollar for run down homes that need 100k worth of work. We did find a nice home in Land O Lakes at a fair price which was under what it appraised for. |
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Posted: 6/11/2017 10:19:59 AM EDT
[#14]
Quote HistoryQuoted:
It sounds like you fixed it right with the amount spent and the hours. A lot of flippers are hacks and do shit half assed! The housing market is flooded right now and there is a lot of shitty homes. I was looking the end of last year and people were asking top dollar for run down homes that need 100k worth of work. We did find a nice home in Land O Lakes at a fair price which was under what it appraised for. |
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Posted: 7/29/2017 10:22:32 AM EDT
[#15]
I just bought a house in Seminole, we looked at a lot of flips before we found this one (it wasn't a flip). The flips were
 . Throw up some paint, cheapest carpet imaginable, some cabinets -- but leave the 1950s-era fuse box. WTF?
Very happy to have bought in Seminole. It's just nice here. I lived in Gulfport for three years, it isn't all it's cracked up to be (unless you are an elderly liberal LGBT). |
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Posted: 7/29/2017 5:25:16 PM EDT
[#16]
Quoted:
I've been browsing the home buying apps for properties in west Pinellas county, looking for an excuse to move back. I've noticed a number of homes and townhomes where the prices are dropping. I know absolutely nothing about real estate, is there something I should be cautious about? Looking particularly in Seminole and Largo, but really anywhere across the bay from Tampa. |
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Posted: 8/3/2017 12:55:40 PM EDT
[#17]
My parents are relators in St Pete.
If you'd like, I can put you in touch with them. (If not, no biggie) just PM me. |
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