house sales

Discussion in 'Sun City General Discussions' started by pegmih, Sep 3, 2017.

  1. pegmih

    pegmih Well-Known Member

    Three (3) house on my street sold in the past few weeks.
    One went for $210. It was a flipper. When I toured it I was not impressed. Too much carpet.
    O.K. It's on a golf course. However, the view from the back patio is mostly Del Webb Blvd.
    The other 2 went for around $150-$160.
     
  2. AZLoco1

    AZLoco1 New Member

    And your point is?
     
  3. pegmih

    pegmih Well-Known Member

    Prices are going UP!
     
  4. BPearson

    BPearson Well-Known Member

    It's interesting on the flips, some look good from a distance, but look close and you can tell easily if it was done with by a craftsman or simply by a guy who is looking for a quick buck.
     
  5. Cynthia

    Cynthia Well-Known Member

    Thats news Emily. What area did you move to?
     
  6. Cynthia

    Cynthia Well-Known Member

    Cool. Nothing like a view of nature. I see the white tanks too. Not as close as you but I still enjoy them in the distance.
     
  7. BPearson

    BPearson Well-Known Member

    Congrats E, that sold really quickly...even by Sun City standards. Condo's are better values these days as flippers are driving up single family home prices at a far faster pace than attached homes. With condo's having both non-rental clauses and limits on how high they can be priced, there's limits to what flippers can do with them.

    Just as a matter of information, Sun City's home market inventory has been low for the past couple of years. Now with KHov sold out, it is bordering at record lows. Homes often never hit the market because the better realtors have client lists they try and fill before even listing a property.
     
  8. BPearson

    BPearson Well-Known Member

    Stopped at an open at 10401 West Oak Ridge yesterday that Tim Nixon (Tempus) had, wow. Big dollar house, but comes furnished and is incredibly done on the remodel. Not for eveybody, but someone will snap it up.
     
  9. Cynthia

    Cynthia Well-Known Member

    Interesting that they choose to put the fridge in the laundry room instead of the kitchen. Not a deal breaker I guess but a bit harder for cooking. Not a bad idea to sell fully furnished, depending on the quality of the furniture. The theater room is a kick.
     
  10. BPearson

    BPearson Well-Known Member

    Pretty sure there was a fridge in the kitchen as well C.
     
  11. BPearson

    BPearson Well-Known Member

    I was in Phase 3 this afternoon for a meeting and there were anumber of good looking homes on the market.
     
  12. Cynthia

    Cynthia Well-Known Member

    I really love the architecture of the homes in Phase 3. Many crazy, beautiful, modernist exteriors. And Phase 1 is so quaint. But overall I like Phase 2 the best. I just wish Phase 2 had a good supermarket inside it...that's the biggest downside, IMHO, crossing on of the "big roads" to shop for food.
     
  13. Cynthia

    Cynthia Well-Known Member

    You're correct I guess I had missed it. In fact there is a huge one.
     
  14. BPearson

    BPearson Well-Known Member

    You know there used to be a grocery story in La Ronde Center where Barnett Delaney is now. There just wasn't enough business for them.
     
  15. Mullet

    Mullet Member

    Welcome to the neighborhood Emily Litella. :chuncky:
     
  16. BPearson

    BPearson Well-Known Member

    Heck, how may people living in Sun City know one of the first tenants in the La Rhonde Center was a movie theater?
     
  17. BPearson

    BPearson Well-Known Member

    Geez, tons of opens yesterday and today. Sales are way beyond brisk.
     
  18. BPearson

    BPearson Well-Known Member

    It is truly amazing as daily there are new sold signs and prices are simply exploding.
     
  19. GCotten

    GCotten Member

    This posting is just simply "for what its worth" and possibly a reality check. For every explosion in increased values in a specific real estate market there is always a "correction" that takes place. There is always something that will stop the increase in values and more than likely decrease values for a period of time. It will happen again and there are any number of events that can occur that will make that happen. Prices do not continue to go up....if they did it would reach a point that no one could afford to pay the price. It seems to happen every 10 to 12 years or there abouts. We seem to be getting to the end of the cycle. If you are going to sell or refinance doing so at the end of a cycle when prices are at their maximum is obviously the right time to do so. Just do so with your eyes wide open and be observant and conservative in your real estate investing at this stage of the cycle. I've seen it happen 4 times in my real estate career and the timing appears to be close where prices could start peaking (again). This is just my opinion based on what I have seen over the last 50 years.
     
  20. BPearson

    BPearson Well-Known Member

    Spot on Gary. The question isn't if, it's more about when. The bubble will burst but i am betting not for a while. Hope i am right because eventually we will put our house up and move to the other one we are renovating (sometime next year).
     

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