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  1. #14801
    Join Date
    Jan 2010
    Location
    your vacation
    Posts
    2,757
    Str is big business
    Some owers are all cash some are highly leveraged
    buddy runs high end pool of rentals. Gets the low down of the owner's finances and has strick requirements for bedding furniture dish wear towels etc etc. He has big money people who purchase high end properties just so he can rent them. He takes 30-40% cut.

    Big companies that are successful in say Florida come here to set up shop they buy small companies and realize there is no cheap labor to unclog toilets and garbage disposals they leave a year or two later w loses in the millions

    One large Walmart of short terms has over 600 rentals in summit the company is treading water about to drown because they have no employees and too many properties w too many promises to owners

    Sent from my SM-J737V using Tapatalk

  2. #14802
    Join Date
    Aug 2016
    Posts
    3,042
    Quote Originally Posted by Summit View Post
    What are some tips to get the appraiser to give you a lower number? What's worth pointing out with regards to wear and tear, scratch and dent, maintenance, appliances, furniture, carpet? What do they pay attention to on site versus brush off?
    Put up African paraphernalia and hire someone black to be there when they appraise.

  3. #14803
    Join Date
    Dec 2006
    Location
    Planning an exit
    Posts
    5,600
    Quote Originally Posted by AdironRider View Post
    My sister in law has a condo in Fraser and someone gave her a bad review because they didn't realize they would be in the mountains. They literally thought Winter Park was a nice park in Denver.
    We've got a friend who does the cleaning for a STR and she lives in the ADU as a long term renter. She had to refund $200 to the last people because the landscapers came and put down new mulch. It took an hour and my partner who was staying in the ADU to kitten sit didn't hear or notice them at all. People are fucking stupid.

  4. #14804
    Join Date
    Nov 2005
    Location
    Making the Bowl Great Again
    Posts
    13,274
    Quote Originally Posted by dunfree View Post
    Put up African paraphernalia and hire someone black to be there when they appraise.
    Jesus fucking christ, this is probably true. Maybe leave a Quran on the table, too.

  5. #14805
    Join Date
    Feb 2008
    Posts
    1,370
    Quote Originally Posted by RootSkier View Post
    Jesus fucking christ, this is probably true. Maybe leave a Quran on the table, too.
    If the city's assessing you for taxes, they'll probably assess you higher if you do that. Just put some crusty beakers on the stovetop and leave a pipe somewhere visible.

  6. #14806
    Join Date
    Mar 2008
    Location
    northern BC
    Posts
    24,197
    Quote Originally Posted by Summit View Post
    What are some tips to get the appraiser to give you a lower number? What's worth pointing out with regards to wear and tear, scratch and dent, maintenance, appliances, furniture, carpet? What do they pay attention to on site versus brush off?
    I think an appraiser can see all the deferred maintenance unless they can't see it, I once parked the leaky portable DW angle wise in the middle of the kitchen so it covered the lifted seam where DW had leaked before, the wife thot it looked stupid but she went along with it

    another time the appraiser just asked me " how do you want it appraised ? " he said we can go high if you are trying to get more money on a second mortgage or whatever, i said it was for divorce settlement so you better make it right in case you end up in court

    I had another situation changing mortgage companies where the mortgage broker may have talked to the appraiser " we need this number "
    Lee Lau - xxx-er is the laziest Asian canuck I know

  7. #14807
    Join Date
    Sep 2006
    Posts
    5,603
    People need to look into Detroit before it's too late to get in.

    https://learn.roofstock.com/blog/det...tate-investing
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  8. #14808
    Join Date
    Jan 2005
    Location
    Keep Tacoma Feared
    Posts
    2,096
    Market might start reigning in STRs on its own

    The price for Ubers, scooters and Airbnb rentals is going up as tech companies aim for profitability.

    The average daily rate of an Airbnb rental increased 35 percent in the first quarter of 2021. “Airbnb got too much dip on they chip,” another Twitter user complained. “No one is gonna continue to pay $500 to stay in an apartment for two days when they can pay $300 for a hotel stay that has a pool, room service, free breakfast & cleaning everyday. Like get real lol.”

    https://www.nytimes.com/2021/06/08/t...smid=url-share

  9. #14809
    Join Date
    Sep 2006
    Posts
    5,603
    Quote Originally Posted by concretejungle View Post
    We've got a friend who does the cleaning for a STR and she lives in the ADU as a long term renter. She had to refund $200 to the last people because the landscapers came and put down new mulch. It took an hour and my partner who was staying in the ADU to kitten sit didn't hear or notice them at all. People are fucking stupid.
    Not quite following this one. Why did your sister have to refund $200? Landscapers drop mulch at the wrong place?
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  10. #14810
    Join Date
    Nov 2007
    Location
    Šguila
    Posts
    1,075
    Scandal in CO's high country property tax:
    https://coloradosun.com/2021/06/08/e...thical-breach/

  11. #14811
    Join Date
    Sep 2006
    Posts
    5,603
    Quote Originally Posted by Tips^Up View Post
    Scandal in CO's high country property tax:
    https://coloradosun.com/2021/06/08/e...thical-breach/
    Sounds like normal biz practices. Appraise low, sell high.
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  12. #14812
    Join Date
    Aug 2006
    Posts
    7,035
    Yeah I'm struggling to see anything more than counties trying to get more money in their coffers.

    And their only source of proof is that the tax agent and the govt dude met at a Starbucks once. Nevermind the govt dude Settle seems to win more (2/3s) for the counties than he loses. I hesitate to say that it is corrupt for the two people that would be talking about these matters actually meeting up in person to talk about these matters.

    Here is the nuts and bolts: "county taxpayers, schools and special districts are on the hook for more than $10 million in revenue if Cartwright’s clients win their ongoing appeals"

    These counties sound like they are desperate for cash they don't have and don't want to raise taxes and ruin their political careers. They've made some promises based on revenue that wasn't guaranteed and now they are sweating.
    Live Free or Die

  13. #14813
    Join Date
    Apr 2006
    Location
    Movin' On
    Posts
    2,857
    I have friends who bought a 2000 square foot new build SFH here last fall for less than $500k. Their builder is building another house with the same floor plan in the same neighborhood that will be completed in August. It went under contract for $800k in 2 days after it went on the market.

    Any sort of desirable house here in Teton Valley has gone up by more than 50% in the past 6 months. It's absolutely insane.

  14. #14814
    Join Date
    Sep 2006
    Posts
    5,603
    Quote Originally Posted by Kevo View Post
    I have friends who bought a 2000 square foot new build SFH here last fall for less than $500k. Their builder is building another house with the same floor plan in the same neighborhood that will be completed in August. It went under contract for $800k in 2 days after it went on the market.

    Any sort of desirable house here in Teton Valley has gone up by more than 50% in the past 6 months. It's absolutely insane.
    Probably add 30% to the build cost with lumber prices, and copper wiring / plumbing materials all costing a lot more these days.
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  15. #14815
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    15,637
    ^^^^Damn, that is nutz
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  16. #14816
    Join Date
    Sep 2006
    Posts
    5,603
    Quote Originally Posted by liv2ski View Post
    ^^^^Damn, that is nutz
    We were talking with a local builder last night. Price of lumber has just started to come down from an all time high of just a few weeks ago. For a 2,500 sq foot home, that alone will add about $30k over the normal price just for the lumber. Throw in another $3k-$5k in additional cost for plumbing and electrical. Then there's the appliances. Wife was looking at some mid level gas ranges and fridges, and the prices have jumped about $1k. Not to mention you are going to wait awhile to get those appliances. (Issues getting temperature sensors, just like computer chips for the auto industry)
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  17. #14817
    Join Date
    Oct 2011
    Location
    Aspen
    Posts
    1,531
    Quote Originally Posted by RootSkier View Post
    Jesus fucking christ, this is probably true. Maybe leave a Quran on the table, too.
    See here: https://www.npr.org/2021/05/21/99853...home-appraisal

  18. #14818
    Join Date
    Oct 2003
    Location
    Ogden
    Posts
    6,864
    Quote Originally Posted by Kevo View Post
    I have friends who bought a 2000 square foot new build SFH here last fall for less than $500k. Their builder is building another house with the same floor plan in the same neighborhood that will be completed in August. It went under contract for $800k in 2 days after it went on the market.

    Any sort of desirable house here in Teton Valley has gone up by more than 50% in the past 6 months. It's absolutely insane.
    How about a 1 bd/1 Bath on 1 acre.....for nearly 1.3 million?

    https://www.realtor.com/realestatean...5_M12082-14637

  19. #14819
    Join Date
    Aug 2006
    Posts
    7,035
    But it has a teepee made by a local legend mountain man!
    Live Free or Die

  20. #14820
    Join Date
    Mar 2006
    Posts
    17,564
    Lumber broke below the right shoulder of H&S top. Points to another 20% lower but even there itís still high historically

  21. #14821
    Join Date
    Apr 2006
    Location
    Movin' On
    Posts
    2,857
    Quote Originally Posted by zion zig zag View Post
    How about a 1 bd/1 Bath on 1 acre.....for nearly 1.3 million?

    https://www.realtor.com/realestatean...5_M12082-14637
    "A Designer's Montana Log Home situated on one acre in the coveted Aspen Grove Subdivision"

    Well, that's the most ridiculous price I've seen for any property in TV. ...and Aspen Grove is so coveted that less than 20% of the lots have structures on them.

  22. #14822
    Join Date
    Aug 2006
    Posts
    7,035
    I think you might be confusing Aspen Grove and Headwaters, which appear to be the same but just right next to each other. Headwaters is basically empty but Aspen Grove is just one street (closest to pine creek) and the houses there are pretty nice but that is still crazy pricing. You also get to deal with the NIMBY in Chief Cindy Reigel in Aspen Grove so its probably a pain in the ass to build there.
    Live Free or Die

  23. #14823
    Join Date
    Dec 2006
    Location
    Planning an exit
    Posts
    5,600

    Real Estate Crash thread

    Quote Originally Posted by Toadman View Post
    Not quite following this one. Why did your sister have to refund $200? Landscapers drop mulch at the wrong place?
    They complained about said mulch dropping ruining their vacation experience. Whiny fuckers. Iím surprised they didnít complain about golfers walking past since itís situated along a golf course.

  24. #14824
    Join Date
    Oct 2003
    Location
    9,300ft
    Posts
    18,936
    There's a garage and a teepee... both can be set up for AirBnB!!!
    Quote Originally Posted by blurred
    skiing is hiking all day so that you can ski on shitty gear for 5 minutes.

  25. #14825
    Join Date
    Feb 2005
    Posts
    15,213
    Is it radix panax notoginseng? - splat

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