Audacious Flips and Renovations

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Re: Audacious Flips and Renovations

Postby jon » Fri Aug 22, 2008 12:37 pm

. Impeccably bred with a nod to the stature of the surrounding manses. Flawless cut crystal rainbow window, alabaster drop, cherished hearth: circa 1901; shadow reveals; understated elegance.


Did they mention how f-ing understated the whole thing is?

Still, nice house. The other was $3MM and the kitchen wasn't big enough to pour your wheaties.
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Re: Audacious Flips and Renovations

Postby deejayoh » Fri Aug 22, 2008 3:42 pm

jon wrote:
. Impeccably bred with a nod to the stature of the surrounding manses. Flawless cut crystal rainbow window, alabaster drop, cherished hearth: circa 1901; shadow reveals; understated elegance.


Did they mention how f-ing understated the whole thing is?

Still, nice house. The other was $3MM and the kitchen wasn't big enough to pour your wheaties.


LOL I saw that one this morning too. Makes me feel like I need hugh hefner's bath robe.
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Re: Audacious Flips and Renovations

Postby rose-colored-coolaid » Fri Aug 22, 2008 4:08 pm

deejayoh wrote:I found a great one this morning...

http://www.redfin.com/WA/Seattle/938-21 ... ome/135927
...
Double your money, not! Open house on Sunday if anyone wants to visit! Who has open houses for $3mm listings? Can you say desperate?


Looks like it's worth $3 mil to me. You did say the location was Valhalla, right? Wait, Seattle? Ew!
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Re: Audacious Flips and Renovations

Postby deejayoh » Fri Aug 22, 2008 8:29 pm

The Tim wrote:
The Tim wrote:Got another one for this thread: 145 NW 76th St, 98117
Last sale: Aug 01, 2005 - $315,000
Asking: $800,000
Another $20k off as of today, down to $769,000.

Looks like maybe SR should read Greg Perry's post on their blog yesterday about chasing the market down.

I'm going to guess that the price at which this will actually find a buyer will be somewhere between $650k and $700k, and my gut says that's being generous.


Looks like it sold for $750k
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Re: Audacious Flips and Renovations

Postby WestSideBilly » Mon Aug 25, 2008 9:55 am

biliruben wrote:I don't know if this one's a appropriate here, but the audacious language is just too good to ignore:
http://www.redfin.com/WA/Seattle/1201-Harvard-Ave-E-98102/home/17178307

Image

Positioned at the elbow of the Harvard~Belmont Landmark District. .. taking full advantage of the extraordinary scapes. Retaining its demure exterior. .. opening to the neonic power of Lake Union, city spires, Olympic Mountains, Puget Sound. Impeccably bred with a nod to the stature of the surrounding manses. Flawless cut crystal rainbow window, alabaster drop, cherished hearth: circa 1901; shadow reveals; understated elegance. Deliberately monochromatic; all about the views and living with art.


WTF? I feel dirty.


A sure sign that things are slow: the RE agent spent at least an hour with a thesaurus to write that pile of stinking feces. :lol:
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Re: Audacious Flips and Renovations

Postby biliruben » Mon Aug 25, 2008 10:07 am

LOL! At least.

I still can't quite figure out what shadow reveals are.
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Re: Audacious Flips and Renovations

Postby ira s » Mon Aug 25, 2008 10:10 am

That one almost seems like it was badly translated back into English from a foreign language.
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Re: Audacious Flips and Renovations

Postby garth » Mon Aug 25, 2008 12:14 pm

Another $20k off as of today, down to $769,000.

Looks like maybe SR should read Greg Perry's post on their blog yesterday about chasing the market down.

I'm going to guess that the price at which this will actually find a buyer will be somewhere between $650k and $700k, and my gut says that's being generous.


Chased it all the way down to 33% a year appreciation, I bet they are happy they don't read blogs :D
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Re: Re:

Postby The Tim » Wed Aug 19, 2009 5:31 am

The Tim wrote:Looks like my old boss' boss still hasn't sold his house, first put on the market back in September. It's still on the market (though with a new MLS#), and they haven't even dropped the price at all.
The Tim wrote:OK, this doesn't really qualify as a 'flip' or renovation, but it seems pretty audacious to me.

Bought in '98 for $245,000 (from Queen Elizabeth, no joke).

FSBO, asking $747,000.

Update: As of 9/15, listed with Re/Max at $750,000.

Triple the price in 9 years? That's an average of 13% per year, every year. Even for Microsoft-land, that seems pretty outrageous to me.

Btw, this is my boss' boss, and they've already put an offer on another house. Good luck with that.

Well my old boss' boss' house has been back on the market this summer, sporting a new "low" price of "just" $598,700. Still no bites since it was relisted in May. Hmm.

This is the same guy who back in January 2008 said: "If we all don't participate in the recession, and we tell all our neighbors not to participate, maybe there won't be a recession."

As it turns out, he appears to be practicing what he preaches. A friend who lives in the area reported that the house also sports a "for rent" sign out front. Turns out the family bought a new place last July. 4,300 square feet in rural east Redmond for just under a cool million bucks.

Of course, it's a little easier to "not participate in the recession" when (despite multiple rounds of layoffs and pay cuts) you get promoted a couple times and end up as basically the top manager over all the company's engineers.
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Re: Audacious Flips and Renovations

Postby deejayoh » Wed Aug 19, 2009 7:02 am

deejayoh wrote:I found a great one this morning...

http://www.redfin.com/WA/Seattle/938-21 ... ome/135927

Purchased 12/2006 for $1.5mm
Listed ~16 months later for $3.7mm
On the market 85 days
Listing Price History
May 28, 2008 $3,695,000
Jun 30, 2008 $3,445,000
Jul 31, 2008 $3,045,000

Image

Double your money, not! Open house on Sunday if anyone wants to visit! Who has open houses for $3mm listings? Can you say desperate?


Now priced at $1,878,000

for those of you doing the math, that is 49% off of their original asking price...
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Re: Audacious Flips and Renovations

Postby WestSideBilly » Mon Aug 24, 2009 2:41 pm

http://www.redfin.com/WA/Seattle/2143-N ... home/34613

Image


Aug 04, 2008 Price Changed $359,900
Jun 30, 2007 Listed $355,000
Sep 05, 2006 Sold $100,000

The 'ol wait a year, raise the price trick works every time.
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Re: Audacious Flips and Renovations

Postby The Tim » Tue Jun 08, 2010 5:16 am

Sold in April this year for $125k.

Image

Now "completely Remodeled" and back on the market at the bargain price of just $264k!

Image
For great justice.
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Re: Audacious Flips and Renovations

Postby deejayoh » Tue Jun 08, 2010 2:27 pm

Sold on 09/08/2009
$1,650,000

$150k profit!

deejayoh wrote:
deejayoh wrote:I found a great one this morning...

http://www.redfin.com/WA/Seattle/938-21 ... ome/135927

Purchased 12/2006 for $1.5mm
Listed ~16 months later for $3.7mm
On the market 85 days
Listing Price History
May 28, 2008 $3,695,000
Jun 30, 2008 $3,445,000
Jul 31, 2008 $3,045,000

Image

Double your money, not! Open house on Sunday if anyone wants to visit! Who has open houses for $3mm listings? Can you say desperate?


Now priced at $1,878,000

for those of you doing the math, that is 49% off of their original asking price...
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Re: Audacious Flips and Renovations

Postby WestSideBilly » Wed Jun 09, 2010 10:00 am

The Tim wrote:Sold in April this year for $125k.

Image

Now "completely Remodeled" and back on the market at the bargain price of just $264k!

Image


I won't defend the asking price or horribly tacky landscaping, but the remodel was pretty thorough (note the half height windows replaced with full windows in the middle of the house). New siding, windows, flooring, roof, appliances, furnace, etc. Took out the fireplace (or at least redid the flue and chimney). At $215-225k this is probably a good buy.
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Re: Audacious Flips and Renovations

Postby The Tim » Fri Apr 05, 2013 8:57 am

Hah, I've got a new one for this thread. The audacious flip is back, baby!

Just up the street from me. This home was foreclosed in February 2012, sold in June 2012 for $107,000, and is now back on the market for...

...drumroll...

$419,800!

Before:
Image

After:
Image

Granted, as we've been watching them fix it up over the last nine months, we've been surprised at how nice the finishes are and how thorough of a job they've been doing, even to the point of wondering if it was actually someone fixing it up to live in themselves. And they didn't just strip it to the bones inside, they did some major remodeling on the exterior, as well.

But still... the most any home has ever sold for in the neighborhood bounded by 41st, Pacific, Broadway, and Colby is $355,000 (which was of course at the height of the bubble).

The seller is dreaming. But it will be fun to watch.
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