Audacious Flips and Renovations

[The Tim]

[Ubersalad]

spying on your boss' boss...that's ground for termination! tell us the truth, is this the reason why you're "self-employed".

[Markor]

[The Tim]

Hah, nope, I didn't get fired, I can assure you. The only reason I noticed it is because he posted it FSBO on the internal work classifieds before listing with an agent. So it's hardly "spying."

I'm starting to think that he doesn't really want to sell, but is going through with the listing to appease the wife, who apparently wants a house with a bigger kitchen. If they really wanted to sell, they would have dropped the price at least a little bit in six months since they first listed it.

[The Tim]

Got another one for this thread:
Last sale: Aug 01, 2005 - $315,000
Asking: $800,000

Looks like they slapped down some granite countertops, hardwood floors, put on a fresh coat of paint and did some landscaping. I doubt they put more than $200,000 into it. It appeared to be vacant, but staged. Here's a photo I took (note that every lamp in the house is on in the middle of the day):



Interesting side note, it's listed by our P-I Real Estate Professionals friend Susan Ryan. : "There is no real estate bubble and never will be. A decrease in acceleration is not an implosion (or even a pop)."

I can't take credit for finding this one though. I met with a guy from NPR today, and we actually did the interview standing outside that house, as a prime example of the insanity of the market. The segment should air later this week.

[wreckingbull]

Not only that, Susan Ryan quotes none other than 'Bubbles are for Bathtubs' , as an authoritative macroeconomic source. You can't make this stuff up folks.

I have to hand it to them, they at least did a nice frosting job on that 800K turd, in my first amendment protected opinion.

[EconE]

It seems as if many of the realtors we know are trying to sell off extra "homes".

Reba Haas for example...

http://www.redfin.com/stingray/do/print ... id=1266151

[laxtosnoco]

Wow, 157 DOM and 4 (minor) price drops. Maybe she needs to find a new agent!

[The Tim]

[jld]

[rose-colored-coolaid]

[The Tim]

[Matthew]

They should have just bulldozed the old house and built a new one ontop of it.

[PublicEnemy#1]

[ayles]