There may be financial value to the new owners in having a "remodel" to work on vs. new construction based on permit issues (even if they just leave one small wall up).Talk to a local broker, but most likely, leave it there.
Hi Shylah,It's a complicated and quirky model that Zillow uses. Sometimes it will take two houses, exactly the same, next door to each other, and the prices will vary by 10%. There are a lot of reasons, but the short answer is that the model isn't very good at getting exact prices. It's off by 20% fairly often.If you're looking for a real estimate, a broker or appraiser can give you a much better value with an in-person visit.
Sales of Seattle-area waterfront homes soared in June, adding some health to one sector of the real estate market. Sales of waterfront homes in King County rose from 37 in May to 59 for the month of June. While waterfront real estate sales always rise with the summer weather, this increase was more than the usual cyclical increase.Total sales increased 37% versus the previous month, and were up 14% versus the same month in 2010. Waterfront and luxury homes are many times a leading factor for the industry, and can signal the increase of investor confidence in a real estate market.
Another reminder that your public Facebook profile is being viewed by more than just your friends:A couple in Australia has received the worst kind of wall post. After they defaulted on their mortgage, the bank who owned their loan couldn't locate their current address or email address. After searching extensively, the couple's public profiles were found on Facebook.Since the Facebook users had posted their birthdates on their profiles and friended one another, the bank investigators could verify that these were, indeed, their defaulting borrowers. Realtor.org reported that bank officials served the couple with a foreclosure notice, and Australian courts upheld the process.This just may be the day that you finally review your Facebook profile and its privacy settings.
It's summertime in Seattle, and the waterfront is the focal point of summer relaxation and celebration. The waterfront real estate listings have been picking up significantly recently, with the best showing times of the year on the way. King County waterfront statistics:In the last 30 days, 127 new listings of waterfront homes in King County have been added to the NWMLS. Of those, 39 were listed for over $1,000,000 and 19 for over $2,000,000.61 waterfront homes have gone pending in the last 30 days. Of those, 17 were listed for over $1,000,000 and 10 for over $2,000,000.48 waterfront homes have sold in the last 30 days. Of those, 6 sold for over $1 million and 3 for over $2,000,000.
The Wall Street Journal's recent report on the state of the real estate market makes the case that even with current economic conditions, there are enough positive factors in housing to make buying a good prospect. Interest rates and affordable prices drive the conclusion:"...there are growing indications that it is a good time to buy. Mortgage rates, which fell to 4.55% for the week ending June 2, according to Freddie Mac, are near 50-year lows. Homes have become more affordable than they have been in years: According to Moody's Analytics, the ratio of home prices to income is now 20.9% lower than the 15-year average through 2010, and 12.5% lower than the 1989-2004 average. A historic glut of homes, meanwhile, has created a buyer's market: There were about 15 million vacant homes in the U.S. last year, according to John Burns Real Estate ConsultingInc.-some 3.1 million more than normal.Such conditions might not last long. Moody's Analytics predicts that the number of distressed sales will begin to fall in 2013, and that prices will begin to edge upward then. Home building is at a virtual standstill, so the supply overhang isn't likely to get much worse. Meanwhile, demographic indicators such as "household formation"-the number of new households each year-are on the rise, and promise to take a bite out of the glut in coming years.The upshot: "While we might not see rapid growth in the next couple of years, there are a tremendous number of positive signs that could lead to a rebound," says Anthony Sanders, a real-estate finance professor at George Mason University."WSJ Article
When you cross the 7,000 comment threshhold on one post, you must have an entire blog dedicated to the destruction of your post. He must've not realized this was a tavern. Thanks, JK.
I have no problem with it, it's good business. The last guys I met had $3 million in cashier's checks on hand, and 10 guys at 2 locations with matching jackets, iPads, and on their bluetooths the whole time--pretty much what you described. They said they hoped to spend it all $3 million that day, and I saw them spend most of it. That doesn't fit my definition of "mom and pop", just a well-run organization.
You only have to go to a big-city foreclosure auction once to realize you can't get rich on foreclosures without committing to it full-time. There are corporate teams with deep pockets who will outbid the individual investor up to 80% of the perceived value every time. Add in the risk involved for an individual at auction, and it's not necessarily a good option.
I know. I'd just like to see the journalist's code of ethics written down somewhere. That's another topic.