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Home Buying in 78751 : Real Estate Advice

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  • Home Buying5
  • Home Selling0
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Activity 5
Mon Apr 4, 2011
Justin Ruzicka answered:
what are you goals for remodel? What are your goals as an investment? Too little info to clearly provide the best answer for you, as seen in numbers that differ by 50%...

ps. here is a blog i wrote you getting high returns on investments.
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Thu Mar 24, 2011
Stephen McClain answered:
Good day to you. Rule 1: You cannot build as inexpensively as you can purchase an existing space. Rule 2: If existing inventory offers investment opportunity at or below market value it does not make good business sense to build. Rule 3: If current inventory within the marketplace does not offer you exactly what you want and where you want it, then throw Rules 1 & 2 out and set a strategy for achieving your goal knowing this alterantive will cost you more. The trade off is you can have exactly what you want and where you want it reasonbly speaking. This is what we refer to as an "opportunity cost"- the cost paid to have what you want when there were/are other solutions.
Your actual costs to build is subjective based on location, design and finish out, timing, the economy, the builder/contractor and several other variables. Based on your description figure $65-85 per sq. ft. land excluded.

By your reference to "BUILDING ON" did you mean a re-model or addition to an existing space or building on a vacant site? Those are two different situations altogether as well and will have two different cost structures. Rule 4: No matter how perfect the building situation or experience and even under the most perfect conditions, building a custom home is still a pain in the rear. The reality- no building experience or project is perfect.

I would be happy to further discuss your situation with you. This is what we do every day at Cornerstone. Feel free to contact me if you want to bounce some ideas around and discuss your thoughts/strategy.

Stephen B. McClain, Broker Owner
Cornerstone New Home Solutions
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Wed Mar 23, 2011
Jack Armstrong answered:
what do you mean by 'good'?
depends on the condo, but generally hoa fees eat up your cash-flow and they don't appreciate as well as other property options..
A rule of thumb a wealthy investor friend of mine uses is a 10% capitalization rate: NOI / 10% gives your value. I'm not that conservative - but it's a good place to start. Call me and we can chat about it. ... more
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Tue Sep 22, 2009
Betina Foreman answered:
Cutting corners in construction is never a good idea. what you don't pay for now will cost you double later. I would be very leary of buying the cheapest . Would you go to the cheapest heart surgeon?? Good Luck! ... more
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Sat Aug 2, 2008
Betina Foreman answered:
Dear Mk Haik,
You have selected a wonderful neighborhood to buy in. I lived here for about eight years before I got married. I used to be the neighborhood distributor of the Hyde Park Newsletter. This is close in and a friendly walkable neighborhood.

You should speak with a local realtor to get comparable properties pricing. Ask them for a CMA and it will show what has sold recently in the neighborhood that is similar to your subject property. It should have a breakdown showing the price per square foot, list price, and actual sold price as well as the number of days it was listed for sale. This should give you a clear picture of the actual value of the home in question. Just make sure the comps are very close in proxemity to the home and of similar size, age and condition.

I wish you the best of luck and call me if I can be of service!
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