Are fixers out of the question?
Are you willing to pay a premium for a reno? How much extra?
by Jim the Realtor | Feb 16, 2017 | Bubbleinfo TV, Jim's Take on the Market, Real Estate Investing, Repairs/Improvements | 5 comments
Are you looking for an experienced agent to help you buy or sell a home?
Contact Jim the Realtor!
CA DRE #01527365, CA DRE #00873197
I guess we're due? Rose Canyon produced a magnitude 6.0 quake in San Diego in 1862 that caused damage locally. Danger posed by earthquake fault will lead to tighter San Diego building restrictions https://www.sandiegouniontribune.com/news/science/story/2021-02-26/new-earthquake-studies-could-limit-development-in-san-diego
I can't overstate how strong the new home market is - this is not like 2006-2007 at all. That was good, but the peak froth was concentrated in 10 or so "exceptionally hot" markets...
Now - the ENTIRE country from LA to ND, or from WA to SC is on 🔥 like Vegas in 2006 https://twitter.com/AliWolfEcon/status/1364963372832276491
Today's housing wow: on a call with builders in the South and one just shared that they've raised prices at a community by $250,000 since....... January!!!!!! "All California money"
#housingwows #homesales
The best frenzy sale for February so far (+29% over list price), especially considering it's higher-end, but the month isn't over: https://www.bubbleinfo.com/2021/02/25/frenzy-of-the-month/
Reno contractor fatigue here. I keep asking, “contractors, why not just do it right?” It takes as much work to do it right as doing it over!
Contractors! The hell’s wrong with you people?!
It’s good, or it’s not good. Ain’t no such thing as “good enough”! Ain’t nobody want to hear “well, nobody will notice after its caulked”! It’s unamerican to suck in construction, no matter how humble the home. Anyone who tries half-assery should be deported. I don’t care if your ancestors served in the Revolutionary war!
Back to Scotland with you!!
This reminds me of a story, JtR:
My late husband was a extraordinary finish carpenter (and could also fix anything). At his memorial service a close friend told a story about when they were working on a $2 million beach home–my late husband’s last job.
The friend was sanding a piece of wood for the staircase and asked, “Is this sanded good enough?” My late husband’s reply: “If you have to ask, it’s not.”
From then on, whether it was a painter, electrician, floor guys or any other subcontractor on the job, the rallying cry became: “Sand it like Scott.”
Reminds me of this interesting article I read:
https://aeon.co/essays/what-chinese-corner-cutting-reveals-about-modernity
Contractors are fat and happy right now. Homeowners are flush with equity that they can tap into at any time.
We need a downturn in real estate so contractors are forced to compete for deals and in doing so provide a better finished product.
I have a home built in the 30s (lath and plaster with old hardware) and I can’t tell how many contractors either bid crazy high on projects (so I won’t hire them) or they simply run off and not return calls.
“I have a home built in the 30s (lath and plaster with old hardware) and I can’t tell how many contractors either bid crazy high on projects (so I won’t hire them) or they simply run off and not return calls.”
I’m going to try that rallying cry of “Sand it like Scott” today. Nothing else has worked! I won’t explain what it means. Maybe it will scare them.
Jim’s “35 year old house” rule works well. With contractors, once you get past 35 years, relationships get complicated…
https://www.youtube.com/watch?v=W2vsdQ17x-U