On Sat, 19 Mar 2016 17:06:08 -0700, Oren wrote:

On Sat, 19 Mar 2016 14:21:37 -0700, "Ashton Crusher"
wrote:

A few years ago, we sold a house and all we did was update the flooring
and paint. Sold almost immediately.

I our market it seems virtually everything that sells is "move in
ready". My house has to have the paint done and I feel redoing the
shower is a must, it' just not "nice enough" for the market plus the
whole bathroom is "brass" which apparently is way out of style now. In
fact, most of the light fixtures are brass and I figure they will need
to be replaced with some kind of bronze/brushed nickel or similar to
fit the market. And the flooring is all 25 years old and just plain
out of date and style. Then there are the counter tops... plain old
laminate. Way out of style now so if I do that the cabinets also need
to be replaced.

I detailed property for homes I bought, for others and for an RE
agent. Came to my present house, walked in the front door, out the
back and told the bride I'm buying the house." Told the first owner
to do nothing, except fix the pool fill valve causing a flooded pool.
Told her we would help her pack her things up so she paid us for that.
Kept the home vacant for six months until we polished it up, changed
some things around. 11 years later I still love this house and have
great neighbors, to boot. Two ole farts in a single story -- no more
stairs. What price could an agent get you in the local market if sold
"as is"?

House up the street was on the market for over a year and it was
painted with new carpet, pretty much fixed up to what I would consider
fine move in condition. Didn't sell, didn't sell. Finally sold for
about 50K less then the original asking price to a flipper. He gutted
it, took out walls to create a very large "great room" setup, took out
fireplace, filled in sunken living room, rearranged the bathroom,
including moving the toilet so there was more room for a bigger
shower, completely redid and rearranged the kitchen with all new
everything. Then sold it for $150K more then he paid. I forget the
exact prices but at the time I calculated that he made at least $75K
for his three months worth of trouble. Houses around here just don't
sell "as-is" except for rock bottom prices to flippers.

Hi Anthony,

[ER... yada yada yada... check mail!]

On 3/20/2016 6:53 PM, HerHusband wrote:
Wood, vinyl/linoleum and BATHROOM (ceramic) tile are smooth, level
surfaces. There is good dimensional repeatability (unless you've a
truly "rustic" wood floor/trip hazzard)

Floors are rarely level, even in brand new construction.

On Sun, 20 Mar 2016 18:55:37 -0700, "Ashton Crusher"
wrote:

On Sat, 19 Mar 2016 17:06:08 -0700, Oren wrote:


[...]

House up the street was on the market for over a year and it was
painted with new carpet, pretty much fixed up to what I would consider
fine move in condition. Didn't sell, didn't sell. Finally sold for
about 50K less then the original asking price to a flipper. He gutted
it, took out walls to create a very large "great room" setup, took out
fireplace, filled in sunken living room, rearranged the bathroom,
including moving the toilet so there was more room for a bigger
shower, completely redid and rearranged the kitchen with all new
everything. Then sold it for $150K more then he paid. I forget the
exact prices but at the time I calculated that he made at least $75K
for his three months worth of trouble. Houses around here just don't
sell "as-is" except for rock bottom prices to flippers.

Was his $75K after agent commission and income taxes?

When I bought this house "as is", the agent was a dual agent --
seller/buyer. Paid $25K under listing price. You have to sign some
document for the dual agent, though. In Nevada.

"Oren" wrote in message
...
On Sun, 20 Mar 2016 18:55:37 -0700, "Ashton Crusher"
wrote:


When I bought this house "as is", the agent was a dual agent --
seller/buyer. Paid $25K under listing price. You have to sign some
document for the dual agent, though. In Nevada.

I am not sure how the dual agent works but know what it is. When I wanted
to buy a house that was listed in the paper I went to the agency and asked
about it. Got one agent that was not the listing agent, She then had to
act as both buying and selling. Not sure if that is a way for them to get
more money out of them or not.

I could see that if I had went to another agency and just asked them to find
me a house and they found one for sell by another agency.

On Mon, 21 Mar 2016 15:07:41 -0400, "Ralph Mowery"
wrote:


"Oren" wrote in message
.. .
On Sun, 20 Mar 2016 18:55:37 -0700, "Ashton Crusher"
wrote:


When I bought this house "as is", the agent was a dual agent --
seller/buyer. Paid $25K under listing price. You have to sign some
document for the dual agent, though. In Nevada.

I am not sure how the dual agent works but know what it is. When I wanted
to buy a house that was listed in the paper I went to the agency and asked
about it. Got one agent that was not the listing agent, She then had to
act as both buying and selling. Not sure if that is a way for them to get
more money out of them or not.

I could see that if I had went to another agency and just asked them to find
me a house and they found one for sell by another agency.


In my case, with this house, the selling agent was also my agent in
other transactions when I bought rental properties. She brought me in
to detail the house for market sale . Decided I wanted the house, so
she worked as the seller/buyer agent. Got both commissions. It has to
be documented under Nevada law that both the seller and the buyer
agree to use the same agent. It protects the agent from potential
problems under state law.

On Mon, 21 Mar 2016 11:43:15 -0700, Oren wrote:

On Sun, 20 Mar 2016 18:55:37 -0700, "Ashton Crusher"
wrote:

On Sat, 19 Mar 2016 17:06:08 -0700, Oren wrote:


[...]

House up the street was on the market for over a year and it was
painted with new carpet, pretty much fixed up to what I would consider
fine move in condition. Didn't sell, didn't sell. Finally sold for
about 50K less then the original asking price to a flipper. He gutted
it, took out walls to create a very large "great room" setup, took out
fireplace, filled in sunken living room, rearranged the bathroom,
including moving the toilet so there was more room for a bigger
shower, completely redid and rearranged the kitchen with all new
everything. Then sold it for $150K more then he paid. I forget the
exact prices but at the time I calculated that he made at least $75K
for his three months worth of trouble. Houses around here just don't
sell "as-is" except for rock bottom prices to flippers.

Was his $75K after agent commission and income taxes?

When I bought this house "as is", the agent was a dual agent --
seller/buyer. Paid $25K under listing price. You have to sign some
document for the dual agent, though. In Nevada.
Did he have a permit for removing the walls? And an engineering
report? Was it a load bearing wall, and if so was it properly
supported? This is what happens in so many flips. The walls are
removed to give "open concept" and the proper support restructuring is
not done.. Then to top it all off, the electrical changes are not done
properly, and there is no inspection and no permits - 6 months later
the plaster/drywall is cracked because the structure is sagging - and
the new owner has no recourse.

I would NEVER buy a flipped house without very extensive documentation
of what was done. Way too many pitfalls.

I've looked at a few around here where there were NOT any extensive
renovations, like moving walls - and they were scary enough!!!

posted for all of us...



On Mon, 21 Mar 2016 11:43:15 -0700, Oren wrote:

On Sun, 20 Mar 2016 18:55:37 -0700, "Ashton Crusher"
wrote:

On Sat, 19 Mar 2016 17:06:08 -0700, Oren wrote:


[...]

House up the street was on the market for over a year and it was
painted with new carpet, pretty much fixed up to what I would consider
fine move in condition. Didn't sell, didn't sell. Finally sold for
about 50K less then the original asking price to a flipper. He gutted
it, took out walls to create a very large "great room" setup, took out
fireplace, filled in sunken living room, rearranged the bathroom,
including moving the toilet so there was more room for a bigger
shower, completely redid and rearranged the kitchen with all new
everything. Then sold it for $150K more then he paid. I forget the
exact prices but at the time I calculated that he made at least $75K
for his three months worth of trouble. Houses around here just don't
sell "as-is" except for rock bottom prices to flippers.

Was his $75K after agent commission and income taxes?

When I bought this house "as is", the agent was a dual agent --
seller/buyer. Paid $25K under listing price. You have to sign some
document for the dual agent, though. In Nevada.
Did he have a permit for removing the walls? And an engineering
report? Was it a load bearing wall, and if so was it properly
supported? This is what happens in so many flips. The walls are
removed to give "open concept" and the proper support restructuring is
not done.. Then to top it all off, the electrical changes are not done
properly, and there is no inspection and no permits - 6 months later
the plaster/drywall is cracked because the structure is sagging - and
the new owner has no recourse.

I would NEVER buy a flipped house without very extensive documentation
of what was done. Way too many pitfalls.

I've looked at a few around here where there were NOT any extensive
renovations, like moving walls - and they were scary enough!!!

Yup, they ain't all Flip or Flop material.

Some of the renovations I have seen done by owners are scary and they aren't
even flipping them.

It's even scarier since I've been watching Holmes makes it right. Houses 5
to 10 years old disaster areas because there is no knowledge or
craftsmanship. Supposedly "good builders" The low bid gets the job.

--
Tekkie

On Tue, 22 Mar 2016 15:42:40 -0400, Tekkie®
wrote:

posted for all of us...



On Mon, 21 Mar 2016 11:43:15 -0700, Oren wrote:

On Sun, 20 Mar 2016 18:55:37 -0700, "Ashton Crusher"
wrote:

On Sat, 19 Mar 2016 17:06:08 -0700, Oren wrote:


[...]

House up the street was on the market for over a year and it was
painted with new carpet, pretty much fixed up to what I would consider
fine move in condition. Didn't sell, didn't sell. Finally sold for
about 50K less then the original asking price to a flipper. He gutted
it, took out walls to create a very large "great room" setup, took out
fireplace, filled in sunken living room, rearranged the bathroom,
including moving the toilet so there was more room for a bigger
shower, completely redid and rearranged the kitchen with all new
everything. Then sold it for $150K more then he paid. I forget the
exact prices but at the time I calculated that he made at least $75K
for his three months worth of trouble. Houses around here just don't
sell "as-is" except for rock bottom prices to flippers.

Was his $75K after agent commission and income taxes?

When I bought this house "as is", the agent was a dual agent --
seller/buyer. Paid $25K under listing price. You have to sign some
document for the dual agent, though. In Nevada.
Did he have a permit for removing the walls? And an engineering
report? Was it a load bearing wall, and if so was it properly
supported? This is what happens in so many flips. The walls are
removed to give "open concept" and the proper support restructuring is
not done.. Then to top it all off, the electrical changes are not done
properly, and there is no inspection and no permits - 6 months later
the plaster/drywall is cracked because the structure is sagging - and
the new owner has no recourse.

I would NEVER buy a flipped house without very extensive documentation
of what was done. Way too many pitfalls.

I've looked at a few around here where there were NOT any extensive
renovations, like moving walls - and they were scary enough!!!

Yup, they ain't all Flip or Flop material.

Some of the renovations I have seen done by owners are scary and they aren't
even flipping them.

It's even scarier since I've been watching Holmes makes it right. Houses 5
to 10 years old disaster areas because there is no knowledge or
craftsmanship. Supposedly "good builders" The low bid gets the job.
There are a few builders in this area that I wouldn;t touch their
BEST house with a 10 foot pole.

One contractor who was known for building top quality custom homes was
not selling many houses back in th '80s, when builders started
building gussied up chicken coops and calling them houses.
Old Bill said "if they want junk, i'll build 'em junk" and he started
building low-buck houses - pretty well put the worst of the cheap
contractors out of business. And his were better houses.( not saying a
whole lot, mind you!!)

On Mon, 21 Mar 2016 11:43:15 -0700, Oren wrote:

On Sun, 20 Mar 2016 18:55:37 -0700, "Ashton Crusher"
wrote:

On Sat, 19 Mar 2016 17:06:08 -0700, Oren wrote:


[...]

House up the street was on the market for over a year and it was
painted with new carpet, pretty much fixed up to what I would consider
fine move in condition. Didn't sell, didn't sell. Finally sold for
about 50K less then the original asking price to a flipper. He gutted
it, took out walls to create a very large "great room" setup, took out
fireplace, filled in sunken living room, rearranged the bathroom,
including moving the toilet so there was more room for a bigger
shower, completely redid and rearranged the kitchen with all new
everything. Then sold it for $150K more then he paid. I forget the
exact prices but at the time I calculated that he made at least $75K
for his three months worth of trouble. Houses around here just don't
sell "as-is" except for rock bottom prices to flippers.

Was his $75K after agent commission and income taxes?

When I bought this house "as is", the agent was a dual agent --
seller/buyer. Paid $25K under listing price. You have to sign some
document for the dual agent, though. In Nevada.

In this case the flipper appeared to be a "flipping company"
headquartered out of state.