OFFICIAL real estate bs discussion


willizm

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This is absolutely fucking insane. You go through my neighborhood and you'll see 45 of these split level style houses ranging from "abandoned that at least cuts their grass", to this. Fucking TWO HUNDRED AND SEVENTY TWO THOUSAND dollars for a lowest bidder, thinnest insulation, postage stamp lot, cookie cutter house.



Then there's this one. Bigger, more bathrooms, probably nicer inside.



Fucking christ.
The property I have as a rental in Plainfield shot up considerably in value. Other houses around it that are smaller and less nice have sold for $300k-$320k. It’s absolutely a crazy market. In Saint John there are next to no houses on the market and if they do they go contingent over a weekend. The house down the street from me sold for $880k.
 

1quick

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That’s how it’s been in coal city for a couple months now, I listed my house on Friday morning and had 2 offers Saturday morning under contract by Monday for over my already high asking price
 

Flyn

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Wall Street is buying up around 1/5th of the homes that are for sale to turn into rentals. Driving up the prices. I have concerns that, with the rent grace period ending soon and an expected 10 million renters behind on rent, rental prices may continue to go up possibly pulling sales prices up with them.
 

sickmint79

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have to leave thailand, might go to dubai, not sure what i'm doing with my life. in any case, chat with a guy in thailand at lunch today who has a property he could rent for me in the marina area - saw pics, nice layout, 1 bedroom place... fawking $3800/mo lol. covid pricing now like $2725.

when i stayed there last time (1 week) i think it paid like $70/night to live in practically a closet. don't recall the exact real estate laws - it's definitely illegal to have like a multi bedroom place where you rent out rooms - but my entire building was fundamentally designed this way. iirc there were 4 doors/units on my floor, to 8 bedroom (counting my pseudo no window closet) apartments.
 

GLIGTO

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Wall Street is buying up around 1/5th of the homes that are for sale to turn into rentals. Driving up the prices. I have concerns that, with the rent grace period ending soon and an expected 10 million renters behind on rent, rental prices may continue to go up possibly pulling sales prices up with them.
Yeah this stuff, along with Blackrock (huge Equity firm that's backed by the Fed) buying up full neighborhoods-worth of houses makes me think we're literally living through the Great Reset. "You will own nothing and like it". Very scary stuff.
 

IZZy

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Came across this on YouTube, gives you a good idea on what’s potentially driving this frenzy in real estate.

Interesting. These two are putting forward a lot of speculation as if it is fact. They have one scenario they are pushing but they ignore a lot of factors. I see a mix of some truth with a lot of speculating. Most of the purchases I see here are from buyers wanting a 2nd home or wanting to move down here not from Black Rock type investment firms. Listen to the modifying words they use. Could, can, might, etc. I do agree real estate is cyclical and rich people use it to make money. I don't see anything like 2008 happening right now. Banks are much tighter with loans and people's debt is lower now than it was back then. IMO, watch for interest rates to rise and prices to top off sometime in a year or two.
Wall Street is buying up around 1/5th of the homes that are for sale to turn into rentals. Driving up the prices. I have concerns that, with the rent grace period ending soon and an expected 10 million renters behind on rent, rental prices may continue to go up possibly pulling sales prices up with them.
I see you believe me now😉
 

Yaj Yak

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5000 square foot heated barn, 62 photos of the property... not a single pic of inside the barn.

 

DEEZUZ

Yea but how many acres..?
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5000 square foot heated barn, 62 photos of the property... not a single pic of inside the barn.

Thats where the help stays.

Why would we want to see that
 

willizm

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Going to Texas on Friday and looking heavily at this house in Spring, Tx. The garage is a 3 car with a car port in front of it. My thought is that I could take the doors off of the garage and convert the carport into a garage since it's kinda perfect for that. This way it turns it into a 6 car garage when said and done. Have any of you guys ever heard of doing something like that? Seems like the structure is there.


1624393336550.png
 

EmersonHart13

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What Is a Tax Lien Foreclosure?
Tax lien foreclosure is the sale of a property resulting from the property owner's failure to pay their tax liabilities. A tax lien foreclosure occurs when the property owner has not paid the required taxes, including property taxes and federal and state income taxes.
 

Flyn

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Have a plan drawn up by an architect or construction company, present it to the local building dept. and get the OK. Then get permits and go to town. Might be a good idea to talk to the building dept. first to make sure they don't have any issues with the plan so you can design it so they are happy.
 

willizm

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Doing a zoom walkthrough on this house at 9:30. May put an offer in on it before we get to Texas tonight. Have about 10 houses to look at but this is at the top of the list along with the other one I posted

 

N20GT

Plz place 3,000 kudos here. kthx
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Doing a zoom walkthrough on this house at 9:30. May put an offer in on it before we get to Texas tonight. Have about 10 houses to look at but this is at the top of the list along with the other one I posted

Goddamn that’s a lot of house for the money. Buy buy buy
 

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