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Message
House buying question
Posted on 1/5/09 at 1:39 pm
Posted on 1/5/09 at 1:39 pm
Anyone familiar with Collins Place in Walker? The houses are very nice with approximately 11 for sale in the range of 230k - 260k. I want to make an offer on a house that was listed originally 245k and reduced to 236k. How much more do you think they will come off the price and what is a fair offer? This is new construction that was originally listed in August 07
This post was edited on 1/5/09 at 1:40 pm
3
Posted on 1/5/09 at 2:32 pm to tigerbg
I would bid $165 and see what they say.
Posted on 1/5/09 at 2:34 pm to Tiger JJ
quote:
I would bid $165 and see what they say.
Probably won't say shite, just laugh.
At their current asking price of $236K, what is the price per sq ft?
Posted on 1/5/09 at 2:50 pm to tigerbg
i have done 2 loans for people buying in there recently. from what i saw, you can offer real low, but dont get your hopes too high. they seem to be pretty proud of those in there. one sold for 266 and the other sold for 246. the higher one was on the lake while the other was not.
Posted on 1/5/09 at 2:55 pm to Ziggy
price per sf is 120.78
I have heard from people that there is 30% mark up on new construction houses. How true is that?
Yes they do seem proud of the houses, and for the dom I don't understand why they aren't more willing to deal.
I have heard from people that there is 30% mark up on new construction houses. How true is that?
Yes they do seem proud of the houses, and for the dom I don't understand why they aren't more willing to deal.
Posted on 1/5/09 at 3:30 pm to tigerbg
quote:
I have heard from people that there is 30% mark up on new construction houses. How true is that?
Probably true. Of course, it depends on the builder/developer and how greedy they are.
This post was edited on 1/5/09 at 3:31 pm
Posted on 1/5/09 at 3:33 pm to tigerbg
I would not buy a new house anywhere near BR right now, FWIW.
Posted on 1/5/09 at 3:35 pm to threeputt
quote:
I would not buy a new house anywhere near BR right now, FWIW.
Why is that? Would you suggest building?
Posted on 1/5/09 at 3:38 pm to tigerbg
quote:
Would you suggest
Renting .. Market will go way down the next 5-7 years, IMO. BR and NO have been lucky the last few years and will catch up with the rest of the country pretty soon.
Posted on 1/5/09 at 3:44 pm to threeputt
I don't need to rent. The house we own now only has a $325 per month mortgage. It's 1000 sf, with 2 children (making it crowded as it is) and we want to expand the family soon....trying to get that boy!!!!
Posted on 1/5/09 at 3:46 pm to tigerbg
quote:
I don't need to rent. The house we own now only has a $325 per month mortgage. It's 1000 sf, with 2 children (making it crowded as it is) and we want to expand the family soon....trying to get that boy!!!!
You do unless you want to lose a ton of money.
Posted on 1/5/09 at 3:49 pm to tigerbg
quote:
and we want to expand the family soon....trying to get that boy!!!!
Why can't you rent a big house
Posted on 1/5/09 at 3:54 pm to tigerbg
quote:
I don't need to rent. The house we own now only has a $325 per month mortgage. It's 1000 sf, with 2 children (making it crowded as it is) and we want to expand the family soon....trying to get that boy!!!!
Man, I actually envy you. I have a 3k sq. foot house that I let the ex talk me into buying (its mine now after the div) and 2 kids (I have custody) and its too much house. Way too much house. If it wasn't in such a fantastic neighborhood and I wasn't such a lazy arse dreading packing it all up and moving somewhere else..I'd strongly consider a sub 1,500 sq ft house.
My advice (esp in today's climate) is to squirrel that extra money away that you're not using for a mortgage and build you a nice nest egg for a rainy day rather than getting a $250k couse.
Posted on 1/5/09 at 4:12 pm to threeputt
quote:
BR and NO have been lucky the last few years and will catch up with the rest of the country pretty soon.
The last few years have seen the greatest run-up of housing prices ever across the country. Yes, BR and NO have been insulated from this. That is a good thing in this correction. will there be a correction in S La? I'm sure there will be, but housing prices here weren't wildly inflated and will suffer less than in other areas.Posted on 1/5/09 at 5:23 pm to threeputt
The only areas around here that will probably see a major reset are the northshore and down i-12. In other words, places where there has been a surge in growth in the past few years, but are rather far away from the cities in general. BR and NO metro will just stay flat to slightly down, just like they have been as the bubble areas have plummeted.
Posted on 1/5/09 at 5:25 pm to BR Tiger
quote:
Yes, BR and NO have been insulated from this. That is a good thing in this correction. will there be a correction in S La? I'm sure there will be, but housing prices here weren't wildly inflated and will suffer less than in other areas.
+1. We did a thread a couple of weeks ago on this very thing ( Thread on this very Thing ) which links to a Times Picayune article.
Foreclosures in LA are nowhere near what they are in other states. And LA experienced nowhere near the boom.
Posted on 1/5/09 at 5:38 pm to Fat Man
I stumbled onto this website the other day: see the Houston Model where he talks about how Houston has mostly avoided the bubble.
The cool thing about this website is that the guy wrote this stuff more than 2 years ago. He was prophetic on the true nature of the bubble.
The cool thing about this website is that the guy wrote this stuff more than 2 years ago. He was prophetic on the true nature of the bubble.
Posted on 1/5/09 at 5:46 pm to clamdip
IMO it did not take a prophet to see this coming
Posted on 1/5/09 at 6:27 pm to threeputt
Especially not in 2006, after it had already peaked to begin with. My dad, hardly an economic maven, has been talking about this happening for years. For him, it was just a matter of when, which was something he had no answer for.
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