Home Buying in Blair Hills>Question Details

James Hicks, Home Buyer in San Jose, CA

Why do investors with bad taste attempt cosmetic renovations? Why not wait and let a buyer make proper decisions? So many flips are just terrible.

Asked by James Hicks, San Jose, CA Tue Jul 16, 2013

I'm a designer that wants to renovate a house with good taste, but I don't have cash to buy a foreclosure at auction. My only option is to buy a poorly renovated house at a move-in price and re-renovate it at much higher expense to me. That's very discouraging.

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6
Maybe they don't know they have bad taste? :)
1 vote Thank Flag Link Wed Jul 17, 2013
James,

Investor are just that investors. They are looking for the greatest rate of return with the smallest investment. There are still some fixer ups on the market (not auction). Search different areas for standard sales for fixers.

Gail Mercedes Cole
EXP Realty Marina del Rey
310.853.9933
0 votes Thank Flag Link Mon Oct 7, 2013
Its better to have bad taste than to see and live in a foreclosed home that is a disaster to live in.
Believe me, all that bad taste is covering up the mess that was there before, Ive seen a lot of foreclosed homes that were wrecks, 99% of buyers would have run the other way.

Daniel Castiel
Santa Monica Real Estate Agent
310-584-7721
0 votes Thank Flag Link Mon Aug 12, 2013
I completely agree! Why are they wasting their time and money?. They want me to pay for their Home Depot shopping spree?
0 votes Thank Flag Link Mon Aug 5, 2013
Dear James Hicks,

Think about the housing market in the last few years especially in area high rates of foreclosures. Investors were purchasing in mass in depressed neighborhood. They purchased to lease and sale when the real estate market improved. Or they purchase to flip. Many of homes purchased were fixers. There would be little to no money in a resale if investors did not update or renovate the home. These are investors and they are looking at the bottom line. Therefore, renovation generally were not performed at top dollar. Investors needed to renovate homes purchased for rent or sale. You still have the option to purchase a fixer-up or home in original condition, then you can renovate based on your taste. I must say, some of the investor renovated homes are tastefully done compared to the condition they were in prior to the investor's purchase.

Gail Mercedes Cole
EXP Realty
310.853.9933
0 votes Thank Flag Link Wed Jul 17, 2013
Dear James,
Perhaps you can find a small home that has not had anything done to it...and then work your "magic" on it to make the home what you would like it to be?
Look for something with "good bones" and some potential for addition so that it's a good investment. That way it would be in your budget and the "creation" would be all yours!
Good Luck to you.
0 votes Thank Flag Link Wed Jul 17, 2013
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