Is there another "housing bubble"?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Funny- I managed to find an unrenovated house.

In what neighborhood? Any tips? We found a (mostly) unrenovated house as well, but I think that's only because the difference between renovation and the actual market price would be to little for flippers to mark up.

'09 south Arlington - you can still find them

Eww k thanks

Hahah my sentiment as well. Just didn't want to say it.

Ok keep crying about your lack of equity while I keep building it. Dumbass.

[Anonymous]

Anonymous wrote:

Anonymous wrote:
Wharton MBA is proving how out of touch he is. Symptomatic of a larger problem.

Some people want a flipped house and can pay lots of money to get one.

Many other people don't have the money, or feel comfortable with an unflipped house (perhaps because they DIY).

The problem is every unrenovated house is purchased by flippers with cash, locking out the latter group of homebuyers. The dominance of flipped houses drives up prices for everyone and reduces choice in the market.

Speaking for ourselves, we'd very much like to buy a fixer-upper rather than a flip (within reason - not looking for cracked foundations). It would save us money at the front end and we could customize the home with remodeling projects over time. Unfortunately, the market does not seem to provide this option.

No. You are just proving your are an entitled whiner.

lol

[Anonymous]

Anonymous wrote:
Wharton MBA is proving how out of touch he is. Symptomatic of a larger problem.

Some people want a flipped house and can pay lots of money to get one.

Many other people don't have the money, or feel comfortable with an unflipped house (perhaps because they DIY).

The problem is every unrenovated house is purchased by flippers with cash, locking out the latter group of homebuyers. The dominance of flipped houses drives up prices for everyone and reduces choice in the market.

Speaking for ourselves, we'd very much like to buy a fixer-upper rather than a flip (within reason - not looking for cracked foundations). It would save us money at the front end and we could customize the home with remodeling projects over time. Unfortunately, the market does not seem to provide this option.

I truly believe that cities should be thinking about how to help buyers like you! The problem is not only for the buyers, but also for the sellers. You're not even getting the chance to outbid a flipper, so the sellers may also be leaving money on the table.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What?!?!?! Flippers are trying to finish a home as cheaply as possible?!?
You are blowing my mind here.
Please tell me more!

Well for example, they added kitchen tile but every tile cracked because they didn't put any cement board or ditra under it. We were first time home buyers and had no clue how tile work is done and even if we knew we couldn't have been able to tell if there was a layer between the tile and the subfloor. Flippers suck. Don't buy a flipped house. Ever.

thank you

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Funny- I managed to find an unrenovated house.

So did we in a neighbourhood with lots of teardowns bought by builders.

when?? and where??

We are in a tear down in McLean (Chesterbrook ES, but very near Kent Gardens and Franklin Sherman lines) and the last few houses, in our immediate neighborhood) have been purchased by families who moved right on into the old house. Kent Gardens district in another area you can check out too.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Funny- I managed to find an unrenovated house.

In what neighborhood? Any tips? We found a (mostly) unrenovated house as well, but I think that's only because the difference between renovation and the actual market price would be to little for flippers to mark up.

'09 south Arlington - you can still find them

Eww k thanks

Hahah my sentiment as well. Just didn't want to say it.

Ok keep crying about your lack of equity while I keep building it. Dumbass.

Actually we own a small place west of 16th St NW in DC. Husband and I are thinking about buying something bigger and we are willing to renovate. Yeah, no to south Arlington. We are not selling in our nice neighborhood to buy a shitty tear down in South Arlington.

[Anonymous]

Anonymous wrote:
Wharton MBA is proving how out of touch he is. Symptomatic of a larger problem.

Some people want a flipped house and can pay lots of money to get one.

Many other people don't have the money, or feel comfortable with an unflipped house (perhaps because they DIY).

The problem is every unrenovated house is purchased by flippers with cash, locking out the latter group of homebuyers. The dominance of flipped houses drives up prices for everyone and reduces choice in the market.

Speaking for ourselves, we'd very much like to buy a fixer-upper rather than a flip (within reason - not looking for cracked foundations). It would save us money at the front end and we could customize the home with remodeling projects over time. Unfortunately, the market does not seem to provide this option.

The market does provide this option, but you need to target the space between teardown and flip. We purchased an unrenovated house that needed a lot of updates, but was too costly for a flip to make sense. Prepare to spend $600k+. If the place is priced much lower, it becomes a flip target. The key is to find places that are too expensive to buy and flip at a profit, but not updated enough to charge a reno premium. It takes time, but it can be done.

My post assumes of course that there is an army of flippers with bags of cash waiting to buy up everything. I think this is not actually the case, but I'm sure it may seem like it is if you've lost a place to a cash buyer.

[Anonymous]

Anonymous wrote:

Anonymous wrote:
Wharton MBA is proving how out of touch he is. Symptomatic of a larger problem.

Some people want a flipped house and can pay lots of money to get one.

Many other people don't have the money, or feel comfortable with an unflipped house (perhaps because they DIY).

The problem is every unrenovated house is purchased by flippers with cash, locking out the latter group of homebuyers. The dominance of flipped houses drives up prices for everyone and reduces choice in the market.

Speaking for ourselves, we'd very much like to buy a fixer-upper rather than a flip (within reason - not looking for cracked foundations). It would save us money at the front end and we could customize the home with remodeling projects over time. Unfortunately, the market does not seem to provide this option.

The market does provide this option, but you need to target the space between teardown and flip. We purchased an unrenovated house that needed a lot of updates, but was too costly for a flip to make sense. Prepare to spend $600k+. If the place is priced much lower, it becomes a flip target. The key is to find places that are too expensive to buy and flip at a profit, but not updated enough to charge a reno premium. It takes time, but it can be done.

My post assumes of course that there is an army of flippers with bags of cash waiting to buy up everything. I think this is not actually the case, but I'm sure it may seem like it is if you've lost a place to a cash buyer.

That's exactly the house we bought! I think this only may be available as you say in the neighborhoods that are already expensive, though. Still, it makes me feel much more secure to know that I own the stereotypical "cheapest house on the best block" we could afford.

[Anonymous]

Anonymous wrote:

Anonymous wrote:
Wharton MBA is proving how out of touch he is. Symptomatic of a larger problem.

Some people want a flipped house and can pay lots of money to get one.

Many other people don't have the money, or feel comfortable with an unflipped house (perhaps because they DIY).

The problem is every unrenovated house is purchased by flippers with cash, locking out the latter group of homebuyers. The dominance of flipped houses drives up prices for everyone and reduces choice in the market.

Speaking for ourselves, we'd very much like to buy a fixer-upper rather than a flip (within reason - not looking for cracked foundations). It would save us money at the front end and we could customize the home with remodeling projects over time. Unfortunately, the market does not seem to provide this option.

The market does provide this option, but you need to target the space between teardown and flip. We purchased an unrenovated house that needed a lot of updates, but was too costly for a flip to make sense. Prepare to spend $600k+. If the place is priced much lower, it becomes a flip target. The key is to find places that are too expensive to buy and flip at a profit, but not updated enough to charge a reno premium. It takes time, but it can be done.

My post assumes of course that there is an army of flippers with bags of cash waiting to buy up everything. I think this is not actually the case, but I'm sure it may seem like it is if you've lost a place to a cash buyer.

600k+ for a non-mansion hovering above teardown = bubble

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Funny- I managed to find an unrenovated house.

In what neighborhood? Any tips? We found a (mostly) unrenovated house as well, but I think that's only because the difference between renovation and the actual market price would be to little for flippers to mark up.

'09 south Arlington - you can still find them

Eww k thanks

Hahah my sentiment as well. Just didn't want to say it.

Ok keep crying about your lack of equity while I keep building it. Dumbass.

Actually we own a small place west of 16th St NW in DC. Husband and I are thinking about buying something bigger and we are willing to renovate. Yeah, no to south Arlington. We are not selling in our nice neighborhood to buy a shitty tear down in South Arlington.

That's for the best. South Arlington would like to remain c#nt free.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Funny- I managed to find an unrenovated house.

In what neighborhood? Any tips? We found a (mostly) unrenovated house as well, but I think that's only because the difference between renovation and the actual market price would be to little for flippers to mark up.

'09 south Arlington - you can still find them

Eww k thanks

Hahah my sentiment as well. Just didn't want to say it.

Ok keep crying about your lack of equity while I keep building it. Dumbass.

Actually we own a small place west of 16th St NW in DC. Husband and I are thinking about buying something bigger and we are willing to renovate. Yeah, no to south Arlington. We are not selling in our nice neighborhood to buy a shitty tear down in South Arlington.

That's for the best. South Arlington would like to remain c#nt free.

"c#nt free" but ghetto fabulous. Enjoy!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
Wharton MBA is proving how out of touch he is. Symptomatic of a larger problem.

Some people want a flipped house and can pay lots of money to get one.

Many other people don't have the money, or feel comfortable with an unflipped house (perhaps because they DIY).

The problem is every unrenovated house is purchased by flippers with cash, locking out the latter group of homebuyers. The dominance of flipped houses drives up prices for everyone and reduces choice in the market.

Speaking for ourselves, we'd very much like to buy a fixer-upper rather than a flip (within reason - not looking for cracked foundations). It would save us money at the front end and we could customize the home with remodeling projects over time. Unfortunately, the market does not seem to provide this option.

The market does provide this option, but you need to target the space between teardown and flip. We purchased an unrenovated house that needed a lot of updates, but was too costly for a flip to make sense. Prepare to spend $600k+. If the place is priced much lower, it becomes a flip target. The key is to find places that are too expensive to buy and flip at a profit, but not updated enough to charge a reno premium. It takes time, but it can be done.

My post assumes of course that there is an army of flippers with bags of cash waiting to buy up everything. I think this is not actually the case, but I'm sure it may seem like it is if you've lost a place to a cash buyer.

600k+ for a non-mansion hovering above teardown = bubble

Well, I do believe real estate prices might be inflated. But in my case, it's a row house in Capitol Hill, so absolutely not a tear down! It's in perfectly liveable condition -- just with old molding, old windows, small closets, no powder room on 1st floor, etc. Since we always intended to stay at least 10 years, it seemed like a good investment. The worst of it is probably the windows, as well as the bricks that may need repointing. We'll do those if we have do, and likely still have a good chunk of equity left when/if we have to move for middle school. (That's a whole 'nother story related to housing values in DC ... )

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Funny- I managed to find an unrenovated house.

In what neighborhood? Any tips? We found a (mostly) unrenovated house as well, but I think that's only because the difference between renovation and the actual market price would be to little for flippers to mark up.

'09 south Arlington - you can still find them

Eww k thanks

Hahah my sentiment as well. Just didn't want to say it.

Ok keep crying about your lack of equity while I keep building it. Dumbass.

Actually we own a small place west of 16th St NW in DC. Husband and I are thinking about buying something bigger and we are willing to renovate. Yeah, no to south Arlington. We are not selling in our nice neighborhood to buy a shitty tear down in South Arlington.

That's for the best. South Arlington would like to remain c#nt free.

Dude. You have anger issues or need to get laid. You called someone a dumbass but got put in your place. Maybe you're angry your investment in South Arlington is not panning out because no one wants to live there?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What?!?!?! Flippers are trying to finish a home as cheaply as possible?!?
You are blowing my mind here.
Please tell me more!

Well for example, they added kitchen tile but every tile cracked because they didn't put any cement board or ditra under it. We were first time home buyers and had no clue how tile work is done and even if we knew we couldn't have been able to tell if there was a layer between the tile and the subfloor. Flippers suck. Don't buy a flipped house. Ever.

thank you

Flippers do destroy equity. They perform fraudulent dangerous renovation, charge buyers a premium price as if it was valid legal renovation, and when the deception is revealed and the house is unlivable the new owners have lost $100K+

If they just bought, held, and sold again with modest change (fresh paint) they would not be destroying value but still capture nice profit.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Funny- I managed to find an unrenovated house.

In what neighborhood? Any tips? We found a (mostly) unrenovated house as well, but I think that's only because the difference between renovation and the actual market price would be to little for flippers to mark up.

'09 south Arlington - you can still find them

Eww k thanks

Hahah my sentiment as well. Just didn't want to say it.

Ok keep crying about your lack of equity while I keep building it. Dumbass.

Actually we own a small place west of 16th St NW in DC. Husband and I are thinking about buying something bigger and we are willing to renovate. Yeah, no to south Arlington. We are not selling in our nice neighborhood to buy a shitty tear down in South Arlington.

That's for the best. South Arlington would like to remain c#nt free.

Dude. You have anger issues or need to get laid. You called someone a dumbass but got put in your place. Maybe you're angry your investment in South Arlington is not panning out because no one wants to live there?

Hahahhaha go f#ck yourself. My neighborhood is full of million dollar new builds where 400k shacks stood last year. I'm sorry you had no vision and had to have the "in" neighborhood. I'll be taking my equity with me to me to my forever home in a couple of years.