Ok..this house is brand new..about a block from my house..anyways it has imported marble, stone outside on the walls (not typical of this area), wood floors, updated kitchen...anyways..its only 2,750 and its 3bdrm 4bath...and its land is only like 5,000 sq...and we are planning to convert the garage into an extra bedroom...(its in miami, in a neighborhood area not near any waterfront properties) they want $849,000....is it worth...the house we have now is almost double that and we want to sell it for $1,200,000..any advice..realtors...
2007-02-13 09:30:11 · 11 answers · asked by Cool Person 3 in Business & Finance ➔ Renting & Real Estate
ok..and just so you know..i am not trying to brag..i dont care really what people think about my home ..i was just using it has an example because if you do the math... that house doubled would be putting a price tag on my house of about 2 million dollars..and i came here to ask realtors..i dont want to confront them because they will be calling me and asking me of their services..thanks for your answers..
2007-02-13 09:42:12 · update #1
LOL updated kitchens was a typo..i meant to say like granite stainless steel and stuff...
2007-02-13 09:43:41 · update #2
Put your hime on the market for 1.2M and see if you can sell it. I am sure if you walked over to the new home with a chack for 750k You can sign paper work that day.
http://www.breakingbubble.com/index.htm
2007-02-13 12:56:23 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You'll have some hefty capital gains to pay. Are you simply bragging about your current house? Sounds like it. Most adults simply go and ask area Realtors and get on with the process of buying and selling, they don't come here to talk about how much they have or don't have to spend. You sound gauche! In addition, Miami has changed demographically and frankly, I would not want to live there at this point. Also, you have nitwits here telling you to flip the house. They obviously don't know what that means as you would not flip a BRAND NEW HOUSE!
2007-02-13 09:36:18 · answer #2 · answered by Anonymous · 0⤊ 0⤋
first of all, right now is not the time to sell as there is a glut of homes on the market. Because of the high insurance costs and tornadoes/hurricanes people are trying to get out from under the homes they bought, plus a lot of people have lost their homes to repossession because of the bad financing plans for them. People who are trying to sell their homes now are including air-fare and trips, and new vehicles in the sale as incentives.
The cost of a home is worth it if you have the income to repay and the upfront money for the deal, and if your family is in that area you are moving to, or if that's a safe area near schools for your children, etc. Many things are involved and it's your choice. As far as it being worth that amount on the street where it sits, have your realtor run a check as to what the selling cost is of the other homes in either of those areas and see if you are paying a fair price. If you don't know a realtor, go to realtor.com and see who is in your area.
Right now is a bad time to flip properties.
2007-02-13 09:38:28 · answer #3 · answered by sophieb 7 · 0⤊ 0⤋
It would be wise to contact some Realtors in your area to answer this question. Ask them to provide a Comparative Market Analysis on the property for you. Most agents will provide this to you free in hopes of representing you in a real estate transaction. Be sure to explain that you are interviewing multiple agents to get a good idea. Each "CMA" will be slightly different. Be sure to get references, sales records and a marketing plan before you choose an agent. Also, don't be afraid to hire a new agent. Often they can spend the most time working to help you, and they have an experienced staff to help them.
2007-02-13 09:40:36 · answer #4 · answered by Anonymous · 0⤊ 0⤋
How old is your home? If it is in the same neighborhood as a new home I assume it is relatively new? If it is twice as big and worth 1.2M, after taking 40% off for land value, yours is worth 130.91 per sq. ft. The new home is only 2,750 sq. ft., times 130.91 per sq. ft. makes it worth 360,000, divided by 60% is 600,000.
Either the new home or your home may be greatly overpriced.
An investment of that size is worth paying for an appraiser to tell you the true value and expected marketing time of either property. A CMA from a Realtor is worth exactly what you pay for it.
2007-02-18 08:29:32 · answer #5 · answered by Joe M 1 · 1⤊ 0⤋
If it's brand new how could it have an updated kitchen? Updating is what you do when you replace the old system with a new one.
The real estate market is way overinflated. You will also have large capitol gains to pay.
Nope, not worth it.
2007-02-13 09:41:59 · answer #6 · answered by mslider2 6 · 1⤊ 1⤋
Dang, the digs sound very nice. Are you interested in a valet, housekeeper?
2007-02-21 08:28:39 · answer #7 · answered by Anonymous · 0⤊ 0⤋
I say buy it then flip it if you happen see something else you like get it good luck
2007-02-13 09:36:41 · answer #8 · answered by pattibcacl 6 · 1⤊ 2⤋
i think it is worth buying i mean it is brand new there wont be any creaking or anything
2007-02-13 09:36:49 · answer #9 · answered by Jacob H 1 · 0⤊ 1⤋
expensive!!!! but yes, sounds worth it!
2007-02-13 09:33:02 · answer #10 · answered by hannah 3 · 0⤊ 0⤋