Crazy prices
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Crazy prices (by Oregon Woodsmoke [ID]) Oct 24, 2024 11:49 AM
       Crazy prices (by NE [PA]) Oct 24, 2024 12:31 PM
       Crazy prices (by Robert J [CA]) Oct 24, 2024 1:29 PM
       Crazy prices (by Deanna [TX]) Oct 24, 2024 2:04 PM
       Crazy prices (by Ken [NY]) Oct 24, 2024 3:04 PM
       Crazy prices (by S i d [MO]) Oct 24, 2024 3:17 PM
       Crazy prices (by Dodge [PA]) Oct 24, 2024 3:31 PM
       Crazy prices (by NE [PA]) Oct 24, 2024 3:38 PM
       Crazy prices (by 6x6 [TN]) Oct 24, 2024 6:41 PM
       Crazy prices (by WMH [NC]) Oct 24, 2024 8:25 PM
       Crazy prices (by Richard [MI]) Oct 24, 2024 9:57 PM
       Crazy prices (by Ray-N-Pa [PA]) Oct 25, 2024 7:46 AM
       Crazy prices (by Ken [NY]) Oct 25, 2024 9:04 AM


Crazy prices (by Oregon Woodsmoke [ID]) Posted on: Oct 24, 2024 11:49 AM
Message:

Prices where I live are nuts. New listing, a 1971 singlewide fixer upper mobile home in a rented space in a park for $35,000. It's the cheapest thing available. The old mobile homes in parks go for more than that, but this one is in bad shape.

I don't know. Perhaps it is like buying a teardown house and paying big money just to get the lot. Maybe someone will buy this in order to get the space and then remove it and put in a newer one? There are no newer mobile home parks and the are no spaces available. A "recreational lot", where nothing can be built, goes for more than that. --76.178.xxx.xxx




Crazy prices (by NE [PA]) Posted on: Oct 24, 2024 12:31 PM
Message:

And people still believe there’s inflation. --174.249.xx.xx




Crazy prices (by Robert J [CA]) Posted on: Oct 24, 2024 1:29 PM
Message:

The Valley homes of Los Angeles used to go for around $80,000 back in 1978. Now they are pushing 1 Million dollars each.

I purchased 4 each 5 unit apartment buildings, from $150K, $300K, $600K and now $1.2M.

So when you talk about a $35,000 property, that was the down payment for a home back in 1982. --108.61.xxx.xxx




Crazy prices (by Deanna [TX]) Posted on: Oct 24, 2024 2:04 PM
Message:

My town very rarely has any new build. Some speculators bought some vacant lots back in 2018-2019, and built the teensiest little 3/2's they could--- they were in that 1000-1100 sf range. They tried selling them for $150k each, but the rumor mill says that most of them ended up going in the $70-$80k range. Which is still a profit, because they were probably built for about $50-$60k in 2018/2019 prices, but not nearly as much of a profit as the builders were wanting.

Fast-forward to today. A different group of speculators, who may or may not have any connection to a local bigwig, spent the last year and a half building a <1300 sf 3/2/2? on a lot about a block from me. It's mostly surrounded by $20k houses from the 1920's-1940's.

Zillow has it down as a $175k house, back from last year when it was just a poured foundation without an actual house. They just put the banner up recently advertising it as $229k.

There are also 6 other houses that are 500-1000 sf bigger than it for sale for less. I know this one still has the shiny on it, but... my stopwatch is ticking to see what happens here. If it had been built five years ago, it would have been a nice $80k house for someone. --137.118.xx.xxx




Crazy prices (by Ken [NY]) Posted on: Oct 24, 2024 3:04 PM
Message:

I noticed a singlewide needing work for $38000 in a park, i said this is nuts who wants that?. --104.131.xxx.xxx




Crazy prices (by S i d [MO]) Posted on: Oct 24, 2024 3:17 PM
Message:

One person's "crazy price" is another person's "sweet equity." I'd be crazy not to take advantage of it. --184.4.xx.xx




Crazy prices (by Dodge [PA]) Posted on: Oct 24, 2024 3:31 PM
Message:

So are we due for an 2008 type crash? Or is this the new normal?

(Generally speaking, since RE is so local) --98.235.xxx.xxx




Crazy prices (by NE [PA]) Posted on: Oct 24, 2024 3:38 PM
Message:

Equity that’s next to impossible to redeploy. Dodge, I think it’s both. I’ve had tenants I DQ’d for credit tell me they’ve been approved for mortgages and just can’t find a house. I tend to believe them. --174.249.xx.xx




Crazy prices (by 6x6 [TN]) Posted on: Oct 24, 2024 6:41 PM
Message:

Seems cheap in comparison. --73.108.xxx.xxx




Crazy prices (by WMH [NC]) Posted on: Oct 24, 2024 8:25 PM
Message:

Posted a travel trailer in my area listed for $450k on a 7,000 square foot lot... --108.4.x.xxx




Crazy prices (by Richard [MI]) Posted on: Oct 24, 2024 9:57 PM
Message:

I bought a repo 3/2 mobile home on a 1/2 acre lot for 10K during the crash back in 2013. Now comparables are at 150K. There is a nursing home next door to it that is interested in the place to expand. I'm thinking sell them the place and when they want to get rid of the mobile, buy it from them for maybe 5K and move it to a different lot a bit out in the country.

Also I got several others in a mobile home community where all the lots are owned along with the mobiles. Got these for 3K to 6K each. Rents for 900-1200 each and sales in the area are up to 75K for singles and 120K for places on double lots with a garage.

As mentioned above, where to redeploy the money? Everything is up. I've been thinking of selling and then buying overseas. --97.85.x.xx




Crazy prices (by Ray-N-Pa [PA]) Posted on: Oct 25, 2024 7:46 AM
Message:

There are times I tilt more from investor to being the banker, lately I have been looking for seasoned investors who want to expand. --24.101.xxx.xxx




Crazy prices (by Ken [NY]) Posted on: Oct 25, 2024 9:04 AM
Message:

Richard,where overseas? and why that country? --104.131.xxx.xxx





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