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Thread: Real Estate Crash thread
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08-03-2021, 09:19 AM #16876
The difference I see between most places and San Diego however, is that unlike many places, San Diego can actually somewhat justify the silly prices. Haha. Meth'd out remote towns in WA, ID, etc, tho? Yeah, no. See those GOTOS Sprinters roll into town tho? Congrats! Your trailer just increased by half a mil on Zillow!
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08-03-2021, 09:20 AM #16877
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08-03-2021, 09:24 AM #16878yelgatgab
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The ticky tacky boxes going up behind me were starting in the $500s pre-pandemic. Now they’re starting in the $700s and all the lots are spoken for.
It’s made people think they can get the same for their 20-30 year old house that hasn’t been updated since it was built. There’s still a touch of sanity left, but we’re catching enough of the DC and NYC escapees that the sanity seems to be fading.Remind me. We'll send him a red cap and a Speedo.
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08-03-2021, 10:14 AM #16879
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08-03-2021, 10:35 AM #16880Registered User
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08-03-2021, 10:39 AM #16881
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08-03-2021, 11:37 AM #16882
$1
LOL @ this being a meth'd out remote town! Have you ever been here?
The reason houses are expensive is that it's where people come when they want to get out of Seattle/California/Colorado
That's a nice house, in a really central location, but there are a few downsides to it. First it's on half a lot. If your arms are long enough, you could probably shake hands through your windows with the guy in the house on the other half. It's damn near impossible to park a car in the pointy edge of the lettered streets (although that place has a driveway). And it's a mix of owners/renters, fixed-up/rundown. The people on the corner are kinda hoarders.
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08-03-2021, 01:16 PM #16883
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08-03-2021, 01:19 PM #16884
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08-03-2021, 01:26 PM #16885
Here's what about $600k gets you in North Seattle right now:
https://www.redfin.com/WA/Seattle/11...33/home/104004
My wife and I were curious about what this would sell for because we pass it every Friday when we go out to eat. It's a complete dump and was listed at $545k. Amazing that even a place like this goes for over the list price.
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08-03-2021, 02:06 PM #16886
20 min walk to light rail. Opposite green space (cemetery). My friends who live across from a different cemetery in North Seattle say it becomes an impromptu dog park in the early morning. Pretty good location despite needing some love.
Also, do you eat at the same restaurant every Friday?
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08-03-2021, 02:10 PM #16887
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08-03-2021, 02:11 PM #16888
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08-03-2021, 02:12 PM #16889
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08-03-2021, 02:14 PM #16890
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08-03-2021, 02:15 PM #16891
So what is the lot worth? Might be a steal.
A few people feel the rain. Most people just get wet.
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08-03-2021, 02:18 PM #16892
My question would be is the neighborhood gentrifying, and what would a similar (vacant) lot go for?
It's pretty easy to knock a house down.
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08-03-2021, 02:18 PM #16893Hucked to flat once
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08-03-2021, 02:20 PM #16894I have been in this State for 30 years and I am willing to admit that I am part of the problem.
"Happiest years of my life were earning < $8.00 and hour, collecting unemployment every spring and fall, no car, no debt and no responsibilities. 1984-1990 Park City UT"
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08-03-2021, 02:21 PM #16895
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08-03-2021, 02:25 PM #16896
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08-03-2021, 02:28 PM #16897
As of 2019, the median income for all Seattle households was $102,500.
That lot is probably zoned multi-family. So if you were going to tear down the house you would build like 8 townhomes on it, with each selling for $750k. Or sell it to a developer who is buying up surrounding property. Two beater homes next to me are getting turned into a 41 unit complex.
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08-03-2021, 02:35 PM #16898
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08-03-2021, 02:39 PM #16899Hucked to flat once
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Better than tear offs.
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08-03-2021, 02:46 PM #16900
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