Its what we refer to as an up and coming neighborhood. If you have the guts to go in there and think this is going to be a cake walk you have to realize that it is a completely sketchy area especially at night. Everything walks away if it isn't welded, and even then I would wonder. You can't leave anything outside or its gone.
But I would do a walk through for you for a fee and you could see the potential for the property in a long range plan, maybe thirty years. Its the neighborhood. There is basically no appeal if you ask me and we'd be completely starting again if it was possible to do that - but the refinery is belching out some pretty noxious stuff and I wouldn't advise living down wind of it. Check your wind angle first thing. I have a plot of the wind to check the refinery toxic gas cloud for you if you want to start there.
You have to have a way to live there securely and I don't know how to do that myself.... more
Thats not good enough. It has to be signed off by the City. That takes having a plan that is stamped so it can be reviewed and then inspected -- then it is acceptable. I would do this for people, and have done it, for all the odds and ends that get replaced or repaired, to bring a property up to current documented standards as Architects do. The Architect verifies the work is done.... more
Because it is a premium place to live and the fees if they are higher dissuades less qualified riff raff from being there in a class place. , You can build your own new condo using an architect and a contract. I would do that in that town if I was assured of not doing anything wrong.... more
The whole area is a seismic zone who are you trying to fool? Its all zone 4. Everyone knows. Now the question is do you want to fix the house if there is a problem because the previous owner didn't know it or the building is not right somewhere. You know what you're getting in to by looking at the property or going there with an architect. I would do that for a client if they asked me. I've done that several times.... more
If you live in your condominium your value is increased. If it is rented out then the base for loans is lower. I would guess. If you plan on living in a condo where most of them are rented then things are less predictable for the loan officer to take risks.... more
I believe it. How bad is it? There are all different degrees of seismic here so it depends how much work can be done to make a project survive for a feasible cost. If it is worth it, I mean. To fix it so it can be working takes a bit of study at the site, then it is drawn up and estimated, and bid, then if it is upgraded it is safe to live there and can be sold for a much better sum. Architects do this for people, if you call them. I would do it.... more
Yes because the soil is not solid, there is no way to stabilize the foundations on an old house I assume, and if it was to be bought for selling then you'd need a good foundation done using a soils report, calculations by an architect and details for construction done with a permit and a licensed contractor so it is documented. But it will not work to just go out there like a cowboy like people do and add on to a house using the wrong foundation system, and think it will increase the value of a house, because the old existing house is not stable. A good stable foundation or perhaps a foundation in a non- flood prone area as the case may be along the shore, would be a floating mat foundation and I do those if you want the plans, poured in place, not piers, perhaps post tension as I also have done, is a reliable solution instead of the old spread footing\s on old houses here. They are no good. A foundation like that is not cheap but it is permanent. Also, if the house is subject to flooding over the next hundred years it needs to be jacked up or the whole site lifted using engineering methods and earthwork for sea keeping. Architects do that.... more
You'd have to build up from the beginning start with a small appliance loan for instance, and work your way up to the trust of those who loan money using the system the way it is designed. The interest is low, it is at an all time low, because of the entire world economic collapse that happened. You need 1/3 in cash, then you need income. But the rate for a loan is no more than 3 or 4 percent right now. Fixed. You can't do it for 7 yrs after a Bankruptcy. During that time you can build your credit as I describe it above.... more
The home is on the market for $184,900, and has been on the market for 141 days. It is a 3 Bd 2.5 Ba, with 1496 Sq. Feet, built in 2004, with a 2 car garage attached. The home is owned by the Bank. It needs a little tender loving care. It is a 2 story home, on a corner lot.
It is still available. Do you want to see the inside of the property? Just let me know.
Have a Great Day Verna.