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HAHAHA Anisa made Ian join a bidding war and overpaid for the house because she wanted it right there and then and wouldn't take no for an answer.
I know its fun to make fun of the The Raped but I'm going to be dead honest here: this is not completely retarded for the PNW, not knowing much about Seattle specifically but that's in line with West Coast pricing.
Leftoid Bugman Hellholes, realestate doesn't work like in sane parts of the country. You are expected to come in at least 10% over asking or you're already out bid. So Million 50 on a 900K listing is pretty normal. This is why any area where left coastist come to ruin the property market goes to shit so fast; no one on the west coast knows how to haggle. That and they are liberal bugmen so the property management companies come and buy everything.
Now, where Ian is likely fucking up is he bought this house in 2022 when interest rates were down in the 2-3%. That means assuming 10% down, he'd be paying 3,674.35 for his mortgage. Rates are now 6%, that mean that same loan is now 5,396.22, or over 150%. He'd have to sell the house for 700,000 for the new owner to have the same payment.
Adding to this is the fact that with Pandemic over and thanks to the legions of desperate H1-Bs saturating the market for so long RTO is back in force, demand for "suboptimal" property is dropping. Also the fact that illegals are getting worried and if not heading home are waking up to the fact they are in the country illegally, could be deported at any time, and now that people care they MIGHT get deported so are downsizing to living arrangements they can walk away from: family, collectives, cheaper places, RVs. this affects blue urban shitholes disproportionately.
I am
home property shopping in a place that was overrun from C*lifornians over pandemic and the people selling out not that they need to go back into the office have not woken up to the fact that demand is down and interest rates are double which means that the same price they paid is not the price the the new owners will pay.
A million dollars for 1500sq ft?!
Depending on location in Seattle, that's not out of the norm. :tmi:
I sold 2400-sqt town home on the left coast for two million a little over a year ago before the bottom dropped out.
To be fair, in expensive real estate markets like Seattle when you buy a place you’re also buying the total land package, proximity to cool and useful stuff, and the potential to knock down/rebuild or extend. The real scandal is
they bought when the market was hotter, and are selling when it’s still competitive but has cooled off. The smarter move might have been to hold onto it, rent it out, and use that income stream to live in a cheaper market like Edmonton. But of course they’re idiots. Financially their original sin was Creator Clash: poorly thought out concept, and the success of the first led to the fiscal insanity of the second. Without that, they probably could have coasted, despite being idiots.
This right here. You covered damn near everything, except for rising rates:
People buy the property for the location/proximity. Lots of times its not peopel buying it but a corporation who want to rent it out or tear it down to build some shitty California Bugmen Blocks or apartments.
And it would be smarter to try rent it, except:
1) When you rent single properties, unless you have a solid tenant lined up (family, close friend, coworker, etc) you are in for a maybe world of pain as if they flake out on you you are now out that owed rent. And if they move out, you are out how every many months it takes to find a new tenant. If you are remote, i.e. in canada, you have to hire out for everything related to the property and that will cost. And as its a single property you will rapetastic homeowner rates.
Usually you have 3-10 properties and that way if one tenant fails you have others to pick up the slack. If you live in the area you can do a lot of work yourself. Additionally, you have more leverage with tradesmen: a dry wall contractor isn't going to try to bend you over when you have a mini-empire because he know if he gives you a good rate on this job, he'll be your first stop next time you need something done.
2) The Raped and The Pitcher are retarded with money, likely over leveraged, and probably can't afford to keep a mortgage + rent another place while also being able to afford
food buying the copious ammounts of lube for when Ian is face down getting pegged a couple times a week.
I know someone already mentioned this door in their house listing, but I am just really shocked about how dirty and gross it is.
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Why wouldn't they at least wash off the edge of the door, it's disgusting, and the red paint is really the cherry on top. The floor here is also gross.
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The reason is because they still think its pandemic and people (or more likely land speculators) will buy the house sight-unseen. Additionally, sometimes your realtor knows flippers or rental companies in the market and can have a buyer lined up before it even officially hits MLS.
I sold my place in about a week with 3 pictures because I was still packing up, but didn't matter because the realtor knew someone who wanted a property in that area. Didn't have to paint since the buyers wanted to repaint anyway, left the place not filthy but didn't bother to do anything but let the roomba have its way on both floors. Lots of people have an interior decorator & contractor they turn loose on the place so it'll get fucked up and then cleaned/repainted anyway.