Skip to main content

Please help me understand these listings in my area

I'm looking for my first home in the greater sacramento area, and I just don't understand some of these postings...

  1. Check out this home in CA: sold on 5/9/2022 for $782,000, then listed for sale on 6/23/2022 for $800,000?? Why would anyone do that? The fees and paperwork surely would cost more than the profit.

  2. This one isn't as extreme... sold 10/17/2022 for $447,615, listed 12/15/2022 for $499,999 (+11.7%). But this was after the housing market started to go south (prices have gone down ~10-15% in the last 5 months) and in a not-great area, with plenty of competition... I can't believe anyone thinks this would sell.

  3. This one is a bit different, it was sold for $900k on 5/31/2022 and then listed immediately for $1.3M, and then over 6 months they've lowered it to $800k. I have so many questions... like, why would anyone think someone would buy it for $1.3M when it literally just sold for $900k? It's not like they are claiming massive remodeling or something. Is this how flippers think?

This is not silicon valley in 2015, it's Bumsville, CA. This thing seems to be a pure investment (i.e. you can't live it, it has tenants) with a rental income of $4800, or .37% of purchase price of $1.3M/month, which is very low, I think you'd do better with treasury bonds. And now, they are offering it at a loss... are they just panicked?

  1. This one sold in July for $300k, listed for $464k on 10/22/2022 (again, after the market started free falling), and now they've backed it down to $390k... are they simply hoping for a buyer that thinks the market prices have gone up 30% in the last 6 months?
submitted by /u/ganjaptics
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/zx4yms/please_help_me_understand_these_listings_in_my/
Labels:

Comments

Post a Comment

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...
Post a Comment
Read more

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/
Post a Comment
Read more

How to get started?

Hi! I’m 23F and I just graduated college with an english degree (😅) but i’ve been working in nonprofits since I was 16 and lucked into an amazing first job with an one of the biggest and best real estate non-profits! I love my job so far, but it’s my first time being surrounded by such wealth (and very hard working, deserving individuals.) To be quite honest, I‘ve had a rough few years juggling multiple jobs to finish school, and the idea of myself not living paycheck to paycheck seems light years away. This is all being said, I guess I’m posing the question towards the group of what I can do now to start building that kind of future for myself. I find real estate very interesting, and i’ve loved learning about all the machinations behind development- I’m just not sure where to begin within the industry (investment/rentals are definitely not an option for me yet). I’m also looking to go back to school, but being that I don’t know where to start, I wouldn’t like to begin classes aga...
Post a Comment
Read more