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Old 03-11-2019, 07:19 PM   #341901
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Re: ***Official "It Lives, It Lives" Chat Thread***

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Alright home buying experts, how much value does rehabbing a house to an incredible show home...in a very old neighborhood...add to its value.



i.e. avg home sale in neighborhood is 300k over last 5 years. Highest sale was $495 for new build. This house has been fully remodeled and is incredible but listed at $900k. $900k isnt crazy for what the house is, but comps are comps. Sq. footage is comparable to prior home sales. The price is in the insane add-ons and customization.



I guess my question is all things equal what is the fair market value of this house. It aint 900k.

I would suggest:

The value of the house without all insane upgrades (aka the comps in the area) + 30-50% of assessed value of all of those upgrades.

Thereís lots of articles that say that the upgrades are nice and all but donít ever expect to get more than 40-60% of your money back.

The way you get value out of upgrades is in your using those upgrades. Not doing it to sell to someone else.

ďYou might have spent 10 grand on that quartz countertop but I hate quartz because the letter Q is stupid so I value it at Zero.Ē
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Old 03-11-2019, 07:27 PM   #341902
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Re: ***Official "It Lives, It Lives" Chat Thread***

I would never buy a home higher than a recent fully renovated house in the same area, let alone 2x
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Old 03-11-2019, 07:32 PM   #341903
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Re: ***Official "It Lives, It Lives" Chat Thread***

Yea +30-50% seems like a safe bet. I’ve been zillowing hardcore the past 3-4 months, I’m on Zillow more than 2p2 ...and I just wonder what these people think they’re getting when they do these crazy listings. I also wonder what the agent is thinking when they take them on.

It started at 1.2M fwiw. I will start becoming interested at $600k, but also wonder if it will ever get there. It truly is a beautiful home. In Windermere (where slim would live) it would be >$5M. But it’s in Cleremont (where skip would live).

Also have seen a very noticeable top in the Florida market. At least in Orlando / Tampa where I’m looking. Alot of the houses I have bookmarked have dropped significantly since last fall.

Last edited by Avaritia; 03-11-2019 at 07:39 PM. Reason: Added descriptions we can all understand
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Old 03-11-2019, 07:57 PM   #341904
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Re: ***Official "It Lives, It Lives" Chat Thread***

I see the same **** around here. Thereís a house across the street that is listed for 90k and is in absolute horrible shape. Probably needs a full Reno and I always scratch my head at how they come up with these numbers
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Old 03-11-2019, 08:01 PM   #341905
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Re: ***Official "It Lives, It Lives" Chat Thread***

Yea I normally just lol and keep scrolling but this house checks all of my insane boxes so it has been bookmarked.

I know paying over comps is the biggest torch of all torches so Iím not going to do that...Iíll just pine from a distance like I do with everything I like.
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Old 03-11-2019, 08:05 PM   #341906
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Re: ***Official "It Lives, It Lives" Chat Thread***

Please....forget pricing you see on Zillow. Almost never accurate. Good starting place...but all are >10-50% high...some loltastically so.
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Old 03-11-2019, 08:08 PM   #341907
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Re: ***Official "It Lives, It Lives" Chat Thread***

Never accurate in the sense of actual mls listing?? Or are you saying safe to assume all listings start out 10-50% too high.
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Old 03-11-2019, 08:14 PM   #341908
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Re: ***Official "It Lives, It Lives" Chat Thread***

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BGP's chat age-o-meter has gone up like 10 years since yesterday

smh
Lol wat? I had 2 no effort posts. Making me second guess your models.
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Old 03-11-2019, 08:19 PM   #341909
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Re: ***Official "It Lives, It Lives" Chat Thread***

No I meant your age meter overall. You had made a comment about being able to tell the age of chat. Slim and garick were the ones bringing it up this morning with their hate of ikea, which is an incredible shopping experience for anyone that isn’t 100.

You are young my dude.
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Old 03-11-2019, 08:21 PM   #341910
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Re: ***Official "It Lives, It Lives" Chat Thread***

had my closest holy ***** this is the end moment in a very long time

So its booming today. Cumulus clouds are popping and the lift is strong. Cloud base is right at 4400 feet and rising. I get towed up and pin off at about 1700' agl. I am thermalling around and gaining altitude under a developing cloud and everything is right in the world.

Meanwhile - about 20 miles down the road they are having a massive sailplane competition. These dudes are honestly mostly 80+ year old rich guys flying rockets that cruise at well over 100mph. Tech has gotten so advanced that they are spending an absolute ton of time looking at their computer/nav system instead of using their really fukkin old eyes.

So about 2 miles SE of the ranch is the I4 rte 27 clover leaf. This is a thermal HOT SPOT and frequently a turn point for them.

So I am thermalling around and this dude who never sees me comes hauling ass right over my head within 10 feet of me on his way over there in his sailplane. It happened so fast I never saw him and had zero chance to flash my wings to warn him. I hear the whistle of his aircraft and and my heart literally skipped a beat as I see this beast streak by me. I have had some close encounters but that guy would have torn me in 2.

Happy to be here for at least another day
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Old 03-11-2019, 08:35 PM   #341911
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Re: ***Official "It Lives, It Lives" Chat Thread***

You are not helping the cause for me to go gliding with you squid

Also, squid brings down chat age 10 years every time he posts.
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Old 03-11-2019, 08:40 PM   #341912
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Re: ***Official "It Lives, It Lives" Chat Thread***

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Order offline, purchase pre-assembled, get delivered. Shouldn't need more strat than that aside from unless you're decorating a dorm room or college apartment then buy some real furniture ya cheap bastards.
+1

pretty much everything Ikea sells that involves assembly is hot garbage.
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Old 03-11-2019, 08:52 PM   #341913
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Re: ***Official "It Lives, It Lives" Chat Thread***

Glad you're ok Skwidz, that sounds scary as hell.

Furniture was one of the biggest "wow, totally took this for granted as a kid" things that I realized as an adult.

Wadduya mean homes don't normally come furnished? I gotta buy things like a dresser, end tables, and a bed frame?
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Old 03-11-2019, 08:58 PM   #341914
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Re: ***Official "It Lives, It Lives" Chat Thread***

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Glad you're ok Skwidz, that sounds scary as hell.

Furniture was one of the biggest "wow, totally took this for granted as a kid" things that I realized as an adult.

Wadduya mean homes don't normally come furnished? I gotta buy things like a dresser, end tables, and a bed frame?


and within furniture, chairs are the most surprisingly expensive imo, particularly dining table chairs. Like, I donít know who the **** all these people are who have $600+ each for 8 dining chairs but they donít include me
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Old 03-11-2019, 09:00 PM   #341915
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Re: ***Official "It Lives, It Lives" Chat Thread***

Very true. We recently bought a new couch and it felt like shopping for a used car.
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Old 03-11-2019, 09:09 PM   #341916
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Re: ***Official "It Lives, It Lives" Chat Thread***

ava - obv zero pressure to enjoy mans dream since the beginning of time with me.

When we do tandems its always in calm air (no thermals present). I also know where every other glider is as we are the only place launching em during this time. So getting taken out by a 100 year old yahoo aint gunna happen

Today the sky happened to be xtra bizzy with the super seniors tour. When we fly in thermals we all know the rights of way and are mindful and curtious to each other.

ya and furniture aint cheap AT ALL. what is even stupider is having a whole house worth of furniture and crap in storage for 2+ years (I am an ass clown)
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Old 03-11-2019, 09:16 PM   #341917
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Re: ***Official "It Lives, It Lives" Chat Thread***

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Very true. We recently bought a new couch and it felt like shopping for a used car.
Furniture salesman are no joke when it comes to their commission, like a pack of wild dogs on a three-legged cat.
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Old 03-11-2019, 09:17 PM   #341918
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Re: ***Official "It Lives, It Lives" Chat Thread***

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ava - obv zero pressure to enjoy mans dream since the beginning of time with me.
2 chicks at the same time?
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Old 03-11-2019, 09:26 PM   #341919
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Re: ***Official "It Lives, It Lives" Chat Thread***

Ohhhhh that went right over my head.

Hard for me to fathom that theres not enough room in the sky for two people to be flying squirrel and rocket squirrel without colliding. Glad you're ok.
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Old 03-11-2019, 09:48 PM   #341920
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Re: ***Official "It Lives, It Lives" Chat Thread***

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Ohhhhh that went right over my head.

Hard for me to fathom that theres not enough room in the sky for two people to be flying squirrel and rocket squirrel without colliding. Glad you're ok.
There is likely enough room when both parties are paying attention and not 80yrs old. Doesn't sound like that dude was paying attention
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Old 03-11-2019, 10:19 PM   #341921
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Re: ***Official "It Lives, It Lives" Chat Thread***

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Please....forget pricing you see on Zillow. Almost never accurate. Good starting place...but all are >10-50% high...some loltastically so.
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Never accurate in the sense of actual mls listing?? Or are you saying safe to assume all listings start out 10-50% too high.
Last three month I bought and sold a house. I've used Zillow to hunt...but never use their Zestimate figure.

Selling home Zestimate was 695K. I had two pre-market appraisals...one at 600K the other at 602K. ((I told both to appraise at the bank rate...how much max-value would a bank loan to))

Buying home Zestimate was off by $150K to where the bank would loan money. And bottom line in almost all real estate transactions...trust the bank appraisals.
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Old 03-11-2019, 10:30 PM   #341922
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Re: ***Official "It Lives, It Lives" Chat Thread***

Oh yea zestimates are for sure ridiculous. The zestimate on that home is 1.2, which I assume is why they started their listing at that price lol.

Iím not sure what goes into it bc itís not just some simple sq footage calc, which seems like it would be more accurate most of the time.
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Old 03-12-2019, 03:47 AM   #341923
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Re: ***Official "It Lives, It Lives" Chat Thread***

Squid, I went hang-gliding in the Arizonan desert about 3 years ago and it was one of the best experiences I've had. It was surprising how calm and safe that felt despite knowing that I was up there just holding on to a simple wing. Glad you are safe.
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Old 03-12-2019, 04:48 AM   #341924
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Re: ***Official "It Lives, It Lives" Chat Thread***

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Ohhhhh that went right over my head.

Hard for me to fathom that theres not enough room in the sky for two people to be flying squirrel and rocket squirrel without colliding. Glad you're ok.
I didn't know Ava's age until this week and now learn we're on the wrong side of his IKEA chasm.

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and within furniture, chairs are the most surprisingly expensive imo, particularly dining table chairs. Like, I donít know who the **** all these people are who have $600+ each for 8 dining chairs but they donít include me
Yeah the price range is staggering. I learned quickly you get at least 60% off an equivalent couch in the Mexican neighborhoods and treat the swanky parts of town like a museum.
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Old 03-12-2019, 05:39 AM   #341925
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Re: ***Official "It Lives, It Lives" Chat Thread***

I looked at my results and I'm basically break-even at poker since the main event last year (which I busted). I've played far less poker than I should due to debilitating, suicidal depression, but the way I run at poker hasn't helped and it's been a negative-feedback cycle. I go through cycles of taking breaks and feeling "better" but usually end up depressed. Not really sure what to do at this point I guess there isn't a way out. I'm also stubborn and refuse to believe that I can't do any better than this.
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