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Posted: 6/21/2017 3:39:47 PM EDT
Link Posted: 6/21/2017 3:40:16 PM EDT
Link Posted: 6/21/2017 3:41:38 PM EDT
They say location is everything
Link Posted: 6/21/2017 3:42:36 PM EDT
Wow, that's insane.
Link Posted: 6/21/2017 3:43:25 PM EDT
...  someone will buy it. It's a sellers market now. Lots of cash out there looking to invest, even at elevated risks
Link Posted: 6/21/2017 3:44:57 PM EDT
They're selling the land ,not the house
Link Posted: 6/21/2017 3:47:27 PM EDT
[Last Edit: 6/21/2017 3:48:00 PM EDT by olivers_AR]
Plenty of houses in suburban MD that are going $600-800k for the lot and bulldoze the house, build a Macmansion on a 1/4-1/3 acre lots.  Yep its in a hivh tech area and close to D.C..
Link Posted: 6/21/2017 3:50:39 PM EDT
That ain't shit, I know and know of people who have bought houses for 2-8 million and torn the house down. Then they let the lot sit until they could get the property next to it, torn that house down, and then build giant houses worth tens of millions. This is in S.Fla. Fantastically wealthy people can pull off some amazing stuff.
Link Posted: 6/21/2017 3:50:42 PM EDT
The house has been vacant since December 2016, Grigoriu said. The current owner bought it with the intent of tearing it down and building a new house but decided to sell instead.

The 50-foot by 127-foot lot is located a few blocks from shops, restaurants and grocery stores. Property records show it sold for $381,500 in December 2016.
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Asking 448k. I know they're not making any more land. Did California slide off into the Pacific?
Link Posted: 6/21/2017 3:57:46 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By AcidGambit:
That ain't shit, I know and know of people who have bought houses for 2-8 million and torn the house down. Then they let the lot sit until they could get the property next to it, torn that house down, and then build giant houses worth tens of millions. This is in S.Fla. Fantastically wealthy people can pull off some amazing stuff.
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I know of a Dallas billionaire who did that.
he bought the bordering properties to his home through proxy buyers so no one knew that he was the money. He then tore down his own home and the other 3-4, and built a new $35mil house ( cost ) on about 6 acres near downtown.
Link Posted: 6/21/2017 3:59:18 PM EDT
Link Posted: 6/21/2017 4:04:21 PM EDT
SEATTLE!!!!!!!!!!!


WTF??????????
Link Posted: 6/21/2017 4:05:45 PM EDT
Lol
Link Posted: 6/21/2017 4:10:29 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By AcidGambit:
That ain't shit, I know and know of people who have bought houses for 2-8 million and torn the house down. Then they let the lot sit until they could get the property next to it, torn that house down, and then build giant houses worth tens of millions. This is in S.Fla. Fantastically wealthy people can pull off some amazing stuff.
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Amazing.

Thanks for the info. Your post adds a lot of perspective to this issue.
Link Posted: 6/21/2017 5:00:04 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By LightningII:
I know of a Dallas billionaire who did that.
he bought the bordering properties to his home through proxy buyers so no one knew that he was the money. He then tore down his own home and the other 3-4, and built a new $35mil house ( cost ) on about 6 acres near downtown.
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Discussion ForumsJump to Quoted PostQuote History
Originally Posted By LightningII:
Originally Posted By AcidGambit:
That ain't shit, I know and know of people who have bought houses for 2-8 million and torn the house down. Then they let the lot sit until they could get the property next to it, torn that house down, and then build giant houses worth tens of millions. This is in S.Fla. Fantastically wealthy people can pull off some amazing stuff.
I know of a Dallas billionaire who did that.
he bought the bordering properties to his home through proxy buyers so no one knew that he was the money. He then tore down his own home and the other 3-4, and built a new $35mil house ( cost ) on about 6 acres near downtown.
Yep ....happens all the time in the Park cities area and becoming more common East of 75 in Dallas across from those areas.
Link Posted: 6/21/2017 5:02:18 PM EDT
Meh, if that lot was available in NoVA it would already be gone.
Link Posted: 6/21/2017 5:04:31 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By LightningII:


I know of a Dallas billionaire who did that.
he bought the bordering properties to his home through proxy buyers so no one knew that he was the money. He then tore down his own home and the other 3-4, and built a new $35mil house ( cost ) on about 6 acres near downtown.
View Quote
Is that illegal or something?
Link Posted: 6/21/2017 5:05:12 PM EDT
I wouldn't live in Seattle if they gave me a half million and the house...
Link Posted: 6/21/2017 5:06:42 PM EDT
Does it come with gold bars?
Link Posted: 6/21/2017 5:06:59 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By bobbitybobbity:
I wouldn't live in Seattle if they gave me a half million and the house...
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+87
Link Posted: 6/21/2017 5:07:57 PM EDT
Not unusual for lots to be worth $500,000.

Lots of cities and suburbs.

Probably $400-500K here in Huntington Beach, CA
Link Posted: 6/21/2017 5:08:54 PM EDT
Real estate on the west coast is going full retard again.
Link Posted: 6/21/2017 5:15:49 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By Hahns10mm:
Real estate on the west coast is going full retard again.
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Not high enough, were still getting liberal California communists here.
Link Posted: 6/21/2017 5:18:56 PM EDT
[Last Edit: 6/21/2017 5:19:05 PM EDT by EdgecrusherXES]
Someone should ban the OP for posting mobile links.
Link Posted: 6/21/2017 5:46:45 PM EDT
wow


that is nuts
Link Posted: 6/21/2017 6:00:22 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By EdgecrusherXES:
Someone should ban the OP for posting mobile links.
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http://www.king5.com/money/markets/real-estate/boarded-up-overgrown-seattle-house-on-market-for-nearly-half-a-million-dollars/450974790


This doesn't surprise me at all. Either full gut or bulldoze and rebuild. They're not making more land.
Link Posted: 6/21/2017 6:03:02 PM EDT
Prices are crazy here. I'm glad I got in when I did.
Link Posted: 6/21/2017 6:05:16 PM EDT
This is down the street from Golden Gardens, of course this lot is worth a fair amount.
Link Posted: 6/21/2017 6:07:22 PM EDT
Median home price in Seattle is $700k
Link Posted: 6/21/2017 6:13:12 PM EDT
I'm glad I live in flyover country.
Link Posted: 6/21/2017 6:14:11 PM EDT
Nice brick walkway.
Link Posted: 6/21/2017 6:27:57 PM EDT
To be fair, you have to realize where that address is and what "the house" is surrounded by on all sides.
Link Posted: 6/21/2017 6:31:02 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By mstennes:
Not high enough, were still getting liberal California communists here.
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Discussion ForumsJump to Quoted PostQuote History
Originally Posted By mstennes:
Originally Posted By Hahns10mm:
Real estate on the west coast is going full retard again.
Not high enough, were still getting liberal California communists here.
That's the reason prices are going up, brah.
Link Posted: 6/21/2017 6:32:20 PM EDT
ITT country bumpkins get confused on metropolitan land value.
Link Posted: 6/21/2017 7:41:06 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By DOBERMAN:
Median home price in Seattle is $700k
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The question is are incomes keeping up.  That's a $3k/month house note.  You'd need $150k per year mim salary to pay that.
Link Posted: 6/21/2017 8:42:08 PM EDT
Greenbrook is a great location if you work downtown but want to live in a house in close proximity.

Those that do not have to endure the Seattle traffic don't have any idea how good a location that is--and the commute will only be 10-15 minutes instead of two hours living in north/west/south seattle or the eastside.
Link Posted: 6/21/2017 8:44:00 PM EDT
Some hippie douche bag will buy it
Link Posted: 6/21/2017 8:54:28 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By 2tired2run:



The question is are incomes keeping up.  That's a $3k/month house note.  You'd need $150k per year mim salary to pay that.
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Nah, you can make that on $90k and be poor in every other facet of your life.
Link Posted: 6/21/2017 8:56:58 PM EDT
Seeing the address, I'm not surprised that it's NOT selling. Total teardown, and too close to main arterials and major stores. That's ghetto Greenwood.
Link Posted: 6/21/2017 9:03:22 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By 2tired2run:


Yep ....happens all the time in the Park cities area and becoming more common East of 75 in Dallas across from those areas.
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My daughter just spent $900K for a small lot with a tear down house in University Park...part of DFW.
Link Posted: 6/21/2017 9:04:08 PM EDT
[Last Edit: 6/21/2017 9:06:29 PM EDT by LightningII]
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By MikeE23666:


Is that illegal or something?
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his name and net worth would have inflated the price by millions.
he didn't become a billionaire by wasting millions.
university park, IIRC.
Link Posted: 6/21/2017 9:11:28 PM EDT
Check googlemaps

8737 1st Ave NW

Wasn't TERRIBLE when someone was living in it . . . looks like generic $500k house in So Cal.
Link Posted: 6/21/2017 11:13:35 PM EDT
Discussion ForumsJump to Quoted PostQuote History
Originally Posted By 2tired2run:



The question is are incomes keeping up.  That's a $3k/month house note.  You'd need $150k per year mim salary to pay that.
View Quote
Software engineers will make more than that within 3 years at amazon and microsoft (and any companies that want to be competitive). Honestly, real estate isn't a bad investment currently as amazon and msft are on a hiring spree and every major tech companies is renting out a building or three to poach employees. My house was ~600 3 years ago and isn't anything special. Likely worth over 800k based on recent home sales nearby.
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