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My neighbor's townhouse maybe selling for $27K more than I got for mine

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My neighbor's townhouse maybe selling for $27K more than I got for mine

Old 10-14-17, 08:55 AM
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My neighbor's townhouse maybe selling for $27K more than I got for mine

Noticed this a week or so ago

https://www.howardhanna.com/Property...stpenn/1306694

It is my old neighbors place. You can actually see the doorway of my old place in the one photo.

It has only been listed for a couple of weeks and it is contingent already. Mine was on the market about 8 months before I even got an offer. I ended up selling for $108K. Another neighbor sold a 2 bedroom with no garage similar to mine for $101K. There have been a couple recent 2 bedrooms going for around $12OK but they had finished basements.

Here is a recent 3 bedroom listed for $132K just a couple of doors down from the one above.


The one at the top of this post does have a finished basement and I understand a "bedroom"" in the basement. Not sure if there is a bath there or not.

Listing on zillow does not mention the bedroom in the basement at all
https://www.zillow.com/homes/for_sal...omePageTab=buy

Now I know the listed contingent price has nothing to do with the price it will sell at but if it sells for anywhere near the $135K asking price I am going to be awfully upset. I closed just about a year ago at $108K. Similar place. My kitchen was updated but I did not have a finished basement.

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Old 10-14-17, 09:32 AM
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Is leading off a listing with the square footage not a thing in Pantsylvania? Out west, it's number of beds and baths, and how many sq/ft.

It does seem like you took a bit of a low offer, but a year can make a big difference. Our property value was up $40k within the first two years after we bought it.
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Old 10-14-17, 11:25 AM
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Originally Posted by DrIsotope View Post
Is leading off a listing with the square footage not a thing in Pantsylvania? Out west, it's number of beds and baths, and how many sq/ft.
What?

Originally Posted by DrIsotope View Post
It does seem like you took a bit of a low offer, but a year can make a big difference. Our property value was up $40k within the first two years after we bought it.
Not really like I said, a unit very similar to my old one went for around 101K$ around the same time I sold mine. Most 2 bedrooms were selling $118K-$124K but those places had finished basements.

There are 3 bedrooms in that plan with garages selling for $135K very recently. If it sells for asking then I am guessing the seller was lucky enough to find a buyer with more money than brains.
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Old 10-14-17, 12:20 PM
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why get upset about a similar house selling for more than what you got? would a down market making your recent purchase worth less make you happy? real estate sells for what a buyer thinks it's worth for them and especially market conditions. it's more that than someone having 'more money than brains'
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Old 10-14-17, 12:25 PM
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^^^ exactly
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Old 10-14-17, 12:30 PM
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Originally Posted by clemsongirl View Post
why get upset about a similar house selling for more than what you got? would a down market making your recent purchase worth less make you happy? real estate sells for what a buyer thinks it's worth for them and especially market conditions. it's more that than someone having 'more money than brains'
Amen.

Let it go. Now get back to your honeydew list.
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Old 10-14-17, 12:32 PM
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Originally Posted by clemsongirl View Post
why get upset about a similar house selling for more than what you got? would a down market making your recent purchase worth less make you happy? real estate sells for what a buyer thinks it's worth for them and especially market conditions. it's more that than someone having 'more money than brains'
Oh I know. And I know there is no use getting upset about it But it still does not make me feel any better.
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Old 10-14-17, 12:32 PM
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I need a second reverse mortgage with property taxes paid by the mortgage holder and before the county's appraisal goes up. Real estate right here is being speculated towards upward.

Maybe a couple of wreck cars on blocks in my front yard might hold 'er steady until then........like the wealthy do in Arkansas.
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Old 10-14-17, 12:43 PM
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Houses in my area are going up 4-5 digits weekly. Condos and townhouses smaller than yours are selling for $600k+.

https://www.zillow.com/homedetails/6...92483391_zpid/
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Old 10-14-17, 01:15 PM
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The prices of some of the homes sold on my street are just mind boggling. Zillow's estimates can be way out of wack depending on the area. My next door neighbor sold her 1500 sq/ft, 2-bedroom home on a single residential lot for 1.2M in April to the couple who were renting that home.
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Old 10-14-17, 03:22 PM
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Originally Posted by tengtengvn View Post
Houses in my area are going up 4-5 digits weekly. Condos and townhouses smaller than yours are selling for $600k+.

https://www.zillow.com/homedetails/6...92483391_zpid/
Well that is Sunnyvale. Portland and Seattle are almost as bad. A friend of a friend had a place in Portland 20 or so years ago. She had to let it go for $30K even back then it was really cheap for a decent house. Its only issue is it has on a hill and no one wanted to live there. It sold recently for $1.2M.

I hated my old place. It had no garage and up on a hill that you needed to climb from the parking lot. I just don't see why anyone would pay $135K here for a 2 bedroom when there are so many other better deals in the area.

Prices are going up here. The place I just bought a year ago, I could easily sell right now for $10K to $20K more than I paid for it a year ago. But I also paid a lot more for my new house than I sold am old one for.

I guess I should not feel too bad. The place below sold for $179K at the very end of 2014. I thought it was overpriced back then. Basically no back yard and no privacy at all in their back yard. It was in an ideal location for me as it was within spitting distance of my old place. But oh that back yard I didn't even bother to look at it. I guess someone really liked it because they just paid $215K.

https://www.zillow.com/homes/for_sal...34_rect/18_zm/
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Old 10-14-17, 03:23 PM
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As the sales prices rise, the County property Tax Rate Does Too.. as the assessed value balloons..
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Old 10-14-17, 03:23 PM
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Originally Posted by roadfix View Post
The prices of some of the homes sold on my street are just mind boggling. Zillow's estimates can be way out of wack depending on the area. My next door neighbor sold her 1500 sq/ft, 2-bedroom home on a single residential lot for 1.2M in April to the couple who were renting that home.

What the heck do you need to charge for rent to turn a profit on a $1.2M investment??
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Old 10-14-17, 03:33 PM
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Originally Posted by fietsbob View Post
As the sales prices rise, the County property Tax Rate Does Too.. as the assessed value balloons..

Yes I got smacked recently. I paid $60K over the accessed value and they came after me. The former owners paid almost $40K over assessed. They never had their assessment challenged. The big one for us us the school district. That is who usually does it. The former owner was a school teacher for a neighboring school district. I wonder if she had connections.

I hired an attorney for the hearing. You pay 3% of what they save you between the sales price and what the assessment was finally agreed too. I found out had I not challenged back the school district would have gotten the sale price. Really even at that it would have been a deal considering how much prices have gone up. But she is fairly confident she got the court to agree to 10s of thousands of dollars under the sales price. It is going to save me a lot of money is it really turns out that way.
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Old 10-15-17, 10:14 AM
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This is silly, but although I've owned my home mortgage free for a dozen years, the prop taxes makes you feel like you're paying rent to the county to live in your own home....
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Old 10-15-17, 10:24 AM
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Originally Posted by roadfix View Post
This is silly, but although I've owned my home mortgage free for a dozen years, the prop taxes makes you feel like you're paying rent to the county to live in your own home....
Property tax has to be the worst tax ever. You can be forced out of your home due to loosing your job, injury, illness or simply getting old.
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Old 10-15-17, 02:07 PM
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Originally Posted by spinnaker View Post
What the heck do you need to charge for rent to turn a profit on a $1.2M investment??
That's now their primary residence.
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Old 10-15-17, 03:22 PM
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Come to Seattle if you want to see unreal real estate prices. 700 square foot apartments in South Lake Union renting for $ 2500/month. 1100 square foot 90 year old bungalows in Ballard selling for $ 800,000. People paying 20-30% over the asking price due to multiple offers. Even the 30 year old Millennials working at Amazon for $ 150K/year are complaining.

https://www.zillow.com/homes/for_sal...97_rect/10_zm/

https://www.seattletimes.com/busines...ices-and-more/

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Old 10-15-17, 05:07 PM
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Originally Posted by MillCreek View Post
Come to Seattle if you want to see unreal real estate prices. 700 square foot apartments in South Lake Union renting for $ 2500/month. 1100 square foot 90 year old bungalows in Ballard selling for $ 800,000. People paying 20-30% over the asking price due to multiple offers. Even the 30 year old Millennials working at Amazon for $ 150K/year are complaining.

https://www.zillow.com/homes/for_sal...97_rect/10_zm/
That's insane. $800k would easily buy six move-in-ready nice ranches in a decent neighborhood around here.
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Old 10-15-17, 05:17 PM
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Originally Posted by MillCreek View Post
Come to Seattle if you want to see unreal real estate prices. 700 square foot apartments in South Lake Union renting for $ 2500/month. 1100 square foot 90 year old bungalows in Ballard selling for $ 800,000. People paying 20-30% over the asking price due to multiple offers. Even the 30 year old Millennials working at Amazon for $ 150K/year are complaining.

https://www.zillow.com/homes/for_sal...97_rect/10_zm/
Sounds a lot like Dublin. We didn't learn a thing from the 2008 bubble, and I think it could very well happen again - especially since no regulations were put in place to stop it from happening again.
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Old 10-15-17, 05:36 PM
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A house I considered buying a few years ago was around $43K. Now it would be $102K. The backyard is about 5 feet deep. It has 3 full bathrooms, a 2 car garage, and a shed. I liked the loop driveway, but I don't need so many bathrooms or a 2 car garage to hold one car. For nearly the same price, I picked less house in a better location.
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Old 10-15-17, 08:05 PM
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Originally Posted by spinnaker View Post
Noticed this a week or so ago

https://www.howardhanna.com/Property...stpenn/1306694

It is my old neighbors place. You can actually see the doorway of my old place in the one photo.

It has only been listed for a couple of weeks and it is contingent already. Mine was on the market about 8 months before I even got an offer. I ended up selling for $108K. Another neighbor sold a 2 bedroom with no garage similar to mine for $101K. There have been a couple recent 2 bedrooms going for around $12OK but they had finished basements.

Here is a recent 3 bedroom listed for $132K just a couple of doors down from the one above.


The one at the top of this post does have a finished basement and I understand a "bedroom"" in the basement. Not sure if there is a bath there or not.

Listing on zillow does not mention the bedroom in the basement at all
https://www.zillow.com/homes/for_sal...omePageTab=buy

Now I know the listed contingent price has nothing to do with the price it will sell at but if it sells for anywhere near the $135K asking price I am going to be awfully upset. I closed just about a year ago at $108K. Similar place. My kitchen was updated but I did not have a finished basement.

Holy**** Batman!, around my locale, what you sold your house for would be the down payment.
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Old 10-16-17, 05:06 AM
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Originally Posted by DrIsotope View Post
a year can make a big difference.
^^^This. Our last place went up in market value $75k in the first 10 months we owned it. In our current place, where we've lived for ~4 years, the downstairs neighbor --who has an identical apartment as ours -- just sold for $150k more than what we bought at. Real estate is dynamic...but it mostly goes up.
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Old 10-16-17, 09:43 AM
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Originally Posted by spinnaker View Post
Oh I know. And I know there is no use getting upset about it But it still does not make me feel any better.
Maybe if you sold low you also bought low?
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Old 10-16-17, 09:46 AM
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Originally Posted by MillCreek View Post
Come to Seattle if you want to see unreal real estate prices. 700 square foot apartments in South Lake Union renting for $ 2500/month. 1100 square foot 90 year old bungalows in Ballard selling for $ 800,000. People paying 20-30% over the asking price due to multiple offers. Even the 30 year old Millennials working at Amazon for $ 150K/year are complaining.
People are offering 350 sq ft condos in Fremont for about what zillow thinks our 2700 sq ft are worth in Thurston County
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