Is it a rip off or is it fair?

Fair or not?

  • Total voters
    51
  • Poll closed .
B

Bronwyn

Guest
What do y'all think? Is this a rip off or fair game?

1 story home built in CRE in 1968. No basement, 616 square feet, two bedroom, on .23 acres. Not water front or lake view, just in the middle of many houses.
Purchased 8/30/1994 for $58,125
Owner dies, home is paid off already and left to daughter for $0. Daughter lives out of state and wants to sell home. It is put on the market for $175,000

So is this a rip off, another case of real estate prices being pushed out of proportion, or is it fair? I talked with one guy and he said that you should get as much as you can get away with when selling property. It would be stupid to under sell yourself.
 
FastCarsSpeed

FastCarsSpeed

Come Play at BigWoodys
Depends on the lot size also but I just sold a 1200.00 sq ft house for 265,000.00. So I dont think its way way off base. Prolly offer 150 and she might take it and walk away.
 
kwillia

kwillia

n/a
Bronwyn said:
It would be stupid to under sell yourself.
Click to expand...
:yeahthat: Why should the current owner sell for under cost only to have the new buyer sweep up on the deal and then turn around an resell it for the going price and pocket the profit...:shrug:
 
H

harleygirl

Working for the weekend
Bronwyn said:
What do y'all think? Is this a rip off or fair game?

1 story home built in CRE in 1968. No basement, 616 square feet, two bedroom, on .23 acres. Not water front or lake view, just in the middle of many houses.
Purchased 8/30/1994 for $58,125
Owner dies, home is paid off already and left to daughter for $0. Daughter lives out of state and wants to sell home. It is put on the market for $175,000

So is this a rip off, another case of real estate prices being pushed out of proportion, or is it fair? I talked with one guy and he said that you should get as much as you can get away with when selling property. It would be stupid to under sell yourself.
Click to expand...
It is fair.......if I were selling it to another family member, I might lower the price a little bit. I am sure the owner would want his/her daughter to get the most $$ they can.
 
Nickel

Nickel

curiouser and curiouser
kwillia said:
:yeahthat: Why should the current owner sell for under cost only to have the new buyer sweep up on the deal and then turn around an resell it for the going price and pocket the profit...:shrug:
Click to expand...
:yeahthat: A home is an investment, and her father left the investment to her. Why shouldn't she be allowed to reap the benefits? :confused:
 
RoseRed

RoseRed

American Beauty
PREMO Member
Bronwyn said:
What do y'all think? Is this a rip off or fair game?

1 story home built in CRE in 1968. No basement, 616 square feet , two bedroom, on .23 acres. Not water front or lake view, just in the middle of many houses.
Purchased 8/30/1994 for $58,125
Owner dies, home is paid off already and left to daughter for $0. Daughter lives out of state and wants to sell home. It is put on the market for $175,000

So is this a rip off, another case of real estate prices being pushed out of proportion, or is it fair? I talked with one guy and he said that you should get as much as you can get away with when selling property. It would be stupid to under sell yourself.
Click to expand...

Tiny crackerbox.
 
sugarmama

sugarmama

New Member
FastCarsSpeed said:
Depends on the lot size also but I just sold a 1200.00 sq ft house for 265,000.00. So I dont think its way way off base. Prolly offer 150 and she might take it and walk away.
Click to expand...


:yeahthat:
Hubby sold his 1100 sq ft house for $240,000.
 
B

Bronwyn

Guest
kwillia said:
:yeahthat: Why should the current owner sell for under cost only to have the new buyer sweep up on the deal and then turn around an resell it for the going price and pocket the profit...:shrug:
Click to expand...

It seems crazy that we want affordable housing for our EMT's, teachers, cops etc. but no one is willing to part with property at a price that these people can afford?
 
Ponytail

Ponytail

New Member
To me that is way high considering it doesn't have a basement. If it had a basement, one that was useable, finishable...it might be a worthwhile investment.

And that's what you have to look at...what are your chances of getting that money back at the very least in a few years when you sell it? Right now, I think prices, especially small home prices are WAY out of whack. 616sq ft is what is usually considered a starter home, but not at $175k. No way would I pay that.

Just like anything else, a house is only worth what someone is willing to pay. Personally, even $150k would be way too high to pay for that small of a home. I MIGHT consider it for $120k But that would be about as high as I'd go.

That's just my humble, non-realtor, personal investing opinion though.
 
kwillia

kwillia

n/a
Bronwyn said:
It seems crazy that we want affordable housing for our EMT's, teachers, cops etc. but no one is willing to part with property at a price that these people can afford?
Click to expand...
I hear you, but the reality is that if a house goes on the market for an "under-market" price... it would be snatched up immediately by an investment broker and never hit the market.
 
T

Tina2001aniT

New Member
Bronwyn said:
It seems crazy that we want affordable housing for our EMT's, teachers, cops etc. but no one is willing to part with property at a price that these people can afford?
Click to expand...


EMT's in Calvert aren't paid, I doubt anyone is going to give them a free house :shrug:
 
Nickel

Nickel

curiouser and curiouser
Bronwyn said:
It seems crazy that we want affordable housing for our EMT's, teachers, cops etc. but no one is willing to part with property at a price that these people can afford?
Click to expand...
Personal responsibility. If they can't afford to live in the area they live in, they should move to an area they can afford, or get a different job. :shrug:
 
H

harleygirl

Working for the weekend
Bronwyn said:
It seems crazy that we want affordable housing for our EMT's, teachers, cops etc. but no one is willing to part with property at a price that these people can afford?
Click to expand...
That is the way it is with everything, cars, property, etc. My father was talking the other day how scared he was 33 years ago when he built his house and the house payment was $350. a month. Then, he bought the property next to him where my house now sits for $1,000 an acre, which he claimed was high priced back then.
 
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