***Official Real Estate Thread***

GromsDad

Duke status
Jan 21, 2014
43,779
8,697
113
West of the Atlantic. East of the ICW.
was talking mainland basically.
300K will get you a nice home in SPT....10min drive to surf.
pricewise - your island went bonkers.
i sold 7053rdst round '95 for 93K.
whoops...
Here is a tear down around the corner:

 
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One-Off

Tom Curren status
Jul 28, 2005
10,864
5,637
113
33.8N - 118.4W
Here is a tear down around the corner:

Again, why is that a tear down? :shrug:

No respect for history...:mad:

In my experience the craftsmanship and quality of materials used during the 1920's is way better than what it is now.
 

grapedrink

Duke status
May 21, 2011
20,018
9,422
113
A Beach
Again, why is that a tear down? :shrug:

No respect for history...:mad:

In my experience the craftsmanship and quality of materials used during the 1920's is way better than what it is now.
Agreed, but there is probably only 1 photo for a reason. Weather and neglect can wreak havoc on a home, especially in that part of the country :drowning:
 

GromsDad

Duke status
Jan 21, 2014
43,779
8,697
113
West of the Atlantic. East of the ICW.
Again, why is that a tear down? :shrug:

No respect for history...:mad:

In my experience the craftsmanship and quality of materials used during the 1920's is way better than what it is now.
Because you can buy that house for $650,000. Spent $12,000 to tear down the existing structure. Spend $300,000 on a new structure on the lot. Sell new home for $1,400,000. You just made $438,000 for your efforts minus real estate commissions and taxes..

In the case of my own house. A developer would buy it for $850,000. Spend $12,000 to tear down my house. Spend another $10,000 to do a minor subdivision because I have a double sized lot. Spend $600,000 to build two new homes on my lot. Each house would sell for $1,200,000. You just made $928,000 for your efforts minus real estate commissions and taxes.

The demand for houses at the beach is insane and there is no more vacant land. People with lots of money want new beach houses not old ones. Developers will gladly buy up older homes tear the house down build new and turn a big profit. Its an entire industry here. Not saying I agree with it but that's the reality and the math of it. I get contacted regularly by developers and realtors wanting to do that with my property. They will even split my lot in two and give me one of the new houses for free......which is exactly what my next door neighbor did. Someday I may do that. Someday I may develop it myself. Someday I may cash out and walk away.

Here is exactly what you can put two of on my lot if you tear down my house. Honestly, I'd rather have my 60s split level sitting on a big lot with a fenced in yard for my dog and the 6 nice sized trees I have on my property. But I could rip it all out and build two of these and make bank.

 

sdsrfr

Miki Dora status
Jul 13, 2020
3,635
7,189
113
San Diego
^ is NCSD in a nutshell.

Couple of my old neighbors newly built very cool beach cottages that they plan to grow old and live in old school style but most go the direction of chopping the lot and dropping townhomes in their place.

At first the townhomes didn’t sell so well so I think that kept down new builds but post RONA they go for 1.5mil to 1.8mil and even the old beat up ones sell fast. When I moved I think I counted 5 new townhome constructions on my street.

One of my old neighbors is basically the same position of holding a great lot with meager house with leaks and a failing retaining wall waiting to take out his back yard.
 

npsp

Michael Peterson status
Dec 30, 2003
2,925
1,609
113
down the hill and to the right
Visit site
^ is NCSD in a nutshell.

Couple of my old neighbors newly built very cool beach cottages that they plan to grow old and live in old school style but most go the direction of chopping the lot and dropping townhomes in their place.

At first the townhomes didn’t sell so well so I think that kept down new builds but post RONA they go for 1.5mil to 1.8mil and even the old beat up ones sell fast. When I moved I think I counted 5 new townhome constructions on my street.

One of my old neighbors is basically the same position of holding a great lot with meager house with leaks and a failing retaining wall waiting to take out his back yard.
We are taking advantage of the the City's waiving of the bulk of permit fees for ADUs and are adding a 1,200sqft unit to our home and creating a duplex of sorts. Our long range plan is to live in one and rent out the other. With rents being what they are and only going up in our area, we will have a short ROI and guaranteed income flow for the the rest of our lives and will leave our son a nice income property in coastal NCSD when we pass.
 

silentbutdeadly

Duke status
Sep 26, 2005
29,870
14,948
113
Tower 13
We are taking advantage of the the City's waiving of the bulk of permit fees for ADUs and are adding a 1,200sqft unit to our home and creating a duplex of sorts. Our long range plan is to live in one and rent out the other. With rents being what they are and only going up in our area, we will have a short ROI and guaranteed income flow for the the rest of our lives and will leave our son a nice income property in coastal NCSD when we pass.
the future.
 

LifeOnMars

Michael Peterson status
Jan 14, 2020
3,164
2,096
113
Lottery dream house. I like the nautical theme....

if you want to live on the water just buy a boat. 2400sq ft for 9 mil? fook off. that house will probably fall into the ocean in the next 100 years.
 

One-Off

Tom Curren status
Jul 28, 2005
10,864
5,637
113
33.8N - 118.4W
if you want to live on the water just buy a boat. 2400sq ft for 9 mil? fook off. that house will probably fall into the ocean in the next 100 years.
100 years from now wouldn't be my problem.

And yes, you could get a seriously nice boat for 9 mil. But boats devaluate. Houses don't. We could start a new thread about boats. Try to find a boat with 8500 sq ft (lot size). Better yet try to find a place to moor it in So Cal and see how much that costs. :crazy2:
 
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LifeOnMars

Michael Peterson status
Jan 14, 2020
3,164
2,096
113
100 years from now wouldn't be my problem.

And yes, you could get a seriously nice boat for 9 mil. But boats devaluate. Houses don't. We could start a new thread about boats. Try to find a boat with 8500 sq ft (lot size). Better yet try to find a place to moor it in So Cal and see how much that costs. :crazy2:

may come sooner than you think, nothing a grande burrito won't fix :monkey:
 

Senor Sopa

Gerry Lopez status
Mar 11, 2015
1,087
1,627
113
Ponto

may come sooner than you think, nothing a grande burrito won't fix :monkey:
Article says both Fred Pattachia and Kelly Slater are violators. :drowning:
 

Mr Doof

Duke status
Jan 23, 2002
22,839
4,814
113
San Francisco, CA
it will stop, already has been decided by your overlords. marks these words, within the next 6 months there will be a financial collapse. the rug will be pulled and many gonna fall flat on their face.
I enjoy predictions.

6 month from date of predictions is 4/30/2022.

What is a "financial collapse" to you?

How much are you willing to bet?
 
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LifeOnMars

Michael Peterson status
Jan 14, 2020
3,164
2,096
113
I enjoy predictions.

6 month from date of predictions is 4/30/2022.

What is a "financial collapse" to you?

How much are you willing to bet?
100 bucks USDC BSC (no rapey gas fees)

I'd say something similar to the covid blip crash to start but sustained for a longer period of time. around 10% drawdown or more in the major indices in the beginning. this will lead into a multi year bear market, hopefully something similar to 08'
want to see people :poop: themselves thinking the sky is falling :monkey:
 

Subway

Administrator
Staff member
Dec 31, 2008
10,971
5,974
113
LBNY
buy when there's blood in the streets

I quote that to my boss every time he says I'm crazy for buying land in an unstable dictatorship
 
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Mr Doof

Duke status
Jan 23, 2002
22,839
4,814
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San Francisco, CA
1) Date for this event is no later than 4/30/2022....sure, works for me.
2) I can do $100 USD so we're set there too. Am willing to pay cash in person, mail cashiers cheque or money order, send via paypal. That agreeable?
3) I think we still need to iron out if 10% is financial collapse. 10% doesn't sound like "financial collapse" to me....that's a buying opportunity! I propose at least 22% from an agreed upon day of the close of S&P 500...this is what Black Monday did in 1987. So using today as an example, by close of day 4/30/2020, S&P500 at 3652.69.

1637626204573.png

4) Negotiate the details before 100% agreement, so feel free to propose/counter-propose. I just really want to avoid any settlement crap so I can win or lose as graciously as my fragile ego can manage.
 

LifeOnMars

Michael Peterson status
Jan 14, 2020
3,164
2,096
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20% from the 4600 value on the date the original comment of October 30th should do, say anything sub 3700 and prepare to pay up :poke:

i'd prefer you send usdc. but if you need to learn up and ditch the paypal, there is still time. we in the digital age, can't remember the last time I mailed a check :monkey: