Comments on: Missed Flip Opportunity or Prudent Caution? http://crosslandteam.com/blog/2008/06/13/missed-flip-opportunity-or-prudent-caution/ Austin Real Estate Blog Wed, 08 Feb 2012 19:40:44 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Steve Crossland http://crosslandteam.com/blog/2008/06/13/missed-flip-opportunity-or-prudent-caution/#comment-22671 Steve Crossland Wed, 30 Jul 2008 21:27:14 +0000 http://crosslandteam.com/?p=465#comment-22671 Homes sell for $170 psf in Granada Oaks, but it's a completely different class of home. I don't know of any other Oak Hill neighborhood that pulls that psf oprice regularly. There might be an outlier now and then, or a home with a lot of acreage that will do it. The $150s are more common on better homes though. The flipper actually ended up listing the home for $265K, and the sqft shown in the listing is 1579. That's $168 psf. Not gonna happen. Now it's been lowered to $159,900. Still ain't gonna happen. I was worried about my $225K ARV remember, so I'm waiting to see what happens on this one. I think it will pull $225K, maybe more, but it would need to be listed a lot lower first. Steve Homes sell for $170 psf in Granada Oaks, but it’s a completely different class of home. I don’t know of any other Oak Hill neighborhood that pulls that psf oprice regularly. There might be an outlier now and then, or a home with a lot of acreage that will do it. The $150s are more common on better homes though.

The flipper actually ended up listing the home for $265K, and the sqft shown in the listing is 1579. That’s $168 psf. Not gonna happen. Now it’s been lowered to $159,900. Still ain’t gonna happen.

I was worried about my $225K ARV remember, so I’m waiting to see what happens on this one. I think it will pull $225K, maybe more, but it would need to be listed a lot lower first.

Steve

]]> By: Craig http://crosslandteam.com/blog/2008/06/13/missed-flip-opportunity-or-prudent-caution/#comment-22514 Craig Wed, 30 Jul 2008 05:10:50 +0000 http://crosslandteam.com/?p=465#comment-22514 $225K/1400sf = $161 per square foot? Steve, you live in the Oak Hill area, correct? Where in that neighborhood are houses selling for that kind of coin? $225K/1400sf = $161 per square foot? Steve, you live in the Oak Hill area, correct? Where in that neighborhood are houses selling for that kind of coin?

]]> By: JB http://crosslandteam.com/blog/2008/06/13/missed-flip-opportunity-or-prudent-caution/#comment-14709 JB Thu, 26 Jun 2008 14:21:38 +0000 http://crosslandteam.com/?p=465#comment-14709 Great data. Anyway we can see the same stats for condos? Or are they included in that report? Thanks for the info! Great data. Anyway we can see the same stats for condos? Or are they included in that report? Thanks for the info!

]]> By: Austin Realtor http://crosslandteam.com/blog/2008/06/13/missed-flip-opportunity-or-prudent-caution/#comment-14167 Austin Realtor Sun, 22 Jun 2008 21:40:54 +0000 http://crosslandteam.com/?p=465#comment-14167 Thank your lucky lone stars you didn't get to take advantage of that opportunity. I would be surprised if that buyer makes a dime on it. Thank your lucky lone stars you didn’t get to take advantage of that opportunity. I would be surprised if that buyer makes a dime on it.

]]> By: arz http://crosslandteam.com/blog/2008/06/13/missed-flip-opportunity-or-prudent-caution/#comment-13452 arz Wed, 18 Jun 2008 05:52:53 +0000 http://crosslandteam.com/?p=465#comment-13452 Well the contractor has the unique advantage of saving cost of remodeling, you have the advantage of selling it faster. So you guys should team up (unless the contractor dude has already gotten a realtor partner.) Well the contractor has the unique advantage of saving cost of remodeling, you have the advantage of selling it faster. So you guys should team up (unless the contractor dude has already gotten a realtor partner.)

]]> By: Texas Real Estate Cowboy http://crosslandteam.com/blog/2008/06/13/missed-flip-opportunity-or-prudent-caution/#comment-13414 Texas Real Estate Cowboy Wed, 18 Jun 2008 00:06:19 +0000 http://crosslandteam.com/?p=465#comment-13414 This a fine example of how value is relative to one's financial situation. It’s so important to be honest with yourself when assessing such a major purchase. Good luck in your home search Steve. This a fine example of how value is relative to one’s financial situation. It’s so important to be honest with yourself when assessing such a major purchase. Good luck in your home search Steve.

]]> By: Steve Crossland http://crosslandteam.com/blog/2008/06/13/missed-flip-opportunity-or-prudent-caution/#comment-13180 Steve Crossland Mon, 16 Jun 2008 14:53:23 +0000 http://crosslandteam.com/?p=465#comment-13180 The list price was $159K. It got bid up to $162K. Was a short sale, pre-foreclosure. Steve The list price was $159K. It got bid up to $162K. Was a short sale, pre-foreclosure.
Steve

]]> By: Observer http://crosslandteam.com/blog/2008/06/13/missed-flip-opportunity-or-prudent-caution/#comment-12999 Observer Sun, 15 Jun 2008 15:41:18 +0000 http://crosslandteam.com/?p=465#comment-12999 out of curiosity, what was the asking price? out of curiosity, what was the asking price?

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