Home Buying in Tempe>Question Details

davjamabb, Home Buyer in Tempe, AZ

I'm 37 yrs old and just starting to look for a house to buy. To say the least I'm shocked at all the ridiculous priced houses that are

Asked by davjamabb, Tempe, AZ Sun Aug 19, 2012

out there. Also, how do you deal with these so called DYI people that do all these so called
home improvements, that are.......well basically crap for a lack of a better
word. Do they realize that they have done more harm to the property than
improvement! Then they act as if they should be rewarded for their efforts
in an amount 10, 20 or even 50 thousand dollars above and beyond a realistic price, that in my mind should be discounted in the amount of 10, 20 or even 50 thousand dollars below a realistic price because of the damage they done to the original structure. And why is it that every real estate agent touts these add-ons and improvements done hacks as something charming or adds character when its an obvious eye sore. I'd say the property would be worth more before the hacks got to it (unaltered) not after they have done their horrible so called improvements. Be honest about this problem real estate agents. It seems as if 3 out 5 houses that I looked at was assaulted by DYI

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3
There are not a lot of homes on the market right now and inventory levels are low. There are a lot investors that have purchased homes, renovated them, and are now reselling them. The condition of homes on the market is certainly much better than it was a few years ago!
0 votes Thank Flag Link Sun Aug 19, 2012
True there are some flips done not so well, but in order to compare those to others in the neighborhood, take out short sales ( distressed ) then compare sold prices by cost per square foot to others in area to get avg price per square foot of solds in the area. Take that avg price per squate foot times sf of the home. This will likely be much less than the adking price. Subtract from the list price to see how much seller is asking in retail for the upgrades. Sometimes it is worth not hvg to do those things yourself and sometimes its ridiculously overpriced. But its good to know!!!
0 votes Thank Flag Link Sun Aug 19, 2012
Could that be your price range? Welcome to why prices are going up.. low inventory of nice homes. HGTV and other tv and Hollywood home shows are not helping the real estate industry. I think you voice the frustration of a lot of buyers. I think more shows should be telling sellers what not to do.
Best of luck out there.
0 votes Thank Flag Link Sun Aug 19, 2012
True, my price range is not what I would like it to be and that is frustrating.
Flag Sun Aug 19, 2012
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