Sold for $20k in 2010 and Listed at $250k as a Foreclosure Today!
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- Опубликовано: 26 авг 2024
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I was very surprised to see this home come up for sale as a foreclosure but it made sense after I looked more into the story of it. It is right behind the Ocho and I had talked to the occupants a few times. It also brought back some memories of the police standoff right around here as well!
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I like the barn would reatore it myself. As for the house, there is potential. Not sure about the ROI with foundation and a permitted addition. The high ceilings are nice. Bulldoze the backyard lol.
barn is cool but so rough
I love these old bungalow homes especially with a lot of original features there relatively untouched would be nice to bring to its original state with a lil modern features. That kitchen is to modern for home a mire 1930's cabinets and hardware farmhouse sink beautiful vintage tile would be better wedgewood stove. Hidden dishwasher would be ok. It would be beautiful worth saving old home with old timbers structure
Lots of good priced homes 10 years ago. I told my rental buddies to buy but they did not listen to me.
ythere are still are in many areas
Nice sized lot! I know the barn is in rough shape but I love it. I guess that’s the dreamer in me.
Cute house.
Such a shame to see old properties in the US not being valued at all. Great backyard. That shed!? Awesome! Hope no one will develop it into some new terrible development
There really needs to be a cap on how much one can price a home over and under what it was bought for.
My neighbor bought their house for $25k in 2015. They put $50k into it. Just sold it for $270k after renting it out for the last 9 years for $3,000/month to displaced families from fires, floods and what not. They did so through the renters insurance so that was nice they didn't take advantage of people.
Thankfully, because they are decent people, they actually sold to a lower bidder. Investors were offering over 300k but they didn't want the place used like that so they sold to a younger couple because it is not lost on them how hard it is to be young and finding an affordable place to live due to people constantly wanting to use housing as a source of income.
We need more people like that and less money hoarding people driving Lamborghinis.
You sure do like to spend other people money. So with this cap, who gets to buy the house? A lottery system?
So they were super nice people for renting it out for 9 years but they didn't want anyone else to be super nice and rent it out?
@@investfourmore where does your money come from again? Do you work hard and get a paycheck? No. You make your money from already having more than others and expecting other people working to pay off your debts.
@@investfourmorerenting a place out that nobody can afford simply for profit isn't super nice. It's super greedy and only super nice to the investors wallet.
You really consider over priced rentals as "nice"? Do you not want younger people to ever own a house that isn't ridiculously overpriced? Passing up an extra $50,000... IN CASH... so a younger couple can have a house to call their own is a lot better than selling to an investor with cash to burn.
It says a lot about the people who rented only to displaced families, only ever charging through insurance and then sold to a young couple. You trying to belittle them and their generosity says a lot about you too. It says you lack of morality, kindness, empathy and are overall a really crappy human being that doesn't deserve anything less than to have all your properties wrecked by those you take advantage of.
@@investfourmore a lottery system to obtain a house could work under some circumstances. It would be more beneficial to have it come down to who the seller decides who should have it the most and needs it the most instead of who can pay the most.
Money would no longer have the power of persuasion. It would come down to the seller and buyer. No more rich people showing up to take a house out from hard working people with less cash because the price is capped to a percentage.
My neighbor selling the place turned down cash offers bidding $50,000 over what this young couple was offering. Is that something you are kind enough to even consider?
Ya didn't buy it to redo it's going to take a lot of inspection time and would be a neat place to redo
when are we getting a Cisnero's update? :)
when something happens
@@investfourmore the letter of intent from a burrito chain fell through?
A hard no. The seller is pricing it as if all the low quality Manny Moe and Jack additions and barn add value - they don't! Actually they have negative value because of tear down costs. I almost forgot about the crumbling foundation and murder room! I intensely dislike sellers like this who price on the basis of all potential buyers being stupid and unaware of unpermitted additions or that virtually the whole barn would have to be replaced (faster and better to tear down and start over). Based on your description of values in the area I just don't see this as being any sort of a good business proposition. The buyer at the current ask would have to be in love with this property.
The seller is a bank. It's in foreclosure
@@mayhem4masses363 The bank is going to ask for an amount in relation to what they foolishly have loaned. Whoever bought it at its low of $20k has already cashed out. The subsequent foreclosed owner found out the hard way that you can't make a business case for buying rental property that will rent for less than its loan payment - maybe they were blinded by the prospect of building it into a multi-unit rental. My guess is that the bank will have to take a substantial discount to sell.
The bank does not consider what was owed at all when pricing properties. I used to sell foreclosures. They do not care one bit.
@@investfourmore Yes, I'm sure that they will price it at what they think it will get - with the goal of at least getting back the outstanding balance if they can. I might be wrong, but if they ask for less than the balance I would think that whoever approved the loan in the last couple of years would be under scrutiny.
@@Thomas63r2 nope. It has zero Influence at all. They get an appraisal and a bpo (broker price opinion) and value it based on those. You can't hold someone accountable from years ago when the market and condition of properties change. This was my job
Buying in 2010 just means they lucked out and bought at the bottom of the market, and now they're trying to sell near the top.
It's a foreclosure. They lost everything.
They refinanced it along the way and took a ton of money out of it.
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U sure get some interesting properties. This one is kinda weird. 😄🙏🏽
I am not getting this one
@@investfourmore that's good lol
Does it come with tires?
I did not see any but I am sure they are there!
Oh interesting house 😊
Very!
ill take 2, one to crap on and one to cover it up
why not just get a toilet?