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Off-Topic Stock Market & Crypto Discussion

JD08 said:
Last realtor I spoke with was adamant about not doing anything to the house as far as additional remodeling. It would seem it's an all or nothing deal now. Either it looks like a model home or it's a fixer upper.
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Depends on price-point. I'm not going to do a full remodel for houses around $300k when they have ok cabinets, flooring... Instead, I paint, refinish floors, new fixtures, new appliances.

For a $1M home, I'm not sure I'd do a remodel. Most people with that kind of money can pay to remodel what they want remodeled.
 
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90scane said:
Depends on price-point. I'm not going to do a full remodel for houses around $300k when they have ok cabinets, flooring... Instead, I paint, refinish floors, new fixtures, new appliances.

For a $1M home, I'm not sure I'd do a remodel. Most people with that kind of money can pay to remodel what they want remodeled.
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Yup, that’s what I deal with.

Plenty of people remodel or partial and you shake your head to how bad it still can look.. better saving the money and letting someone do it exactly how they want it. If you’re buying a house for near a million now at these interest rates. You have money to do remodel how you want.
 
Canefan4life said:
Yup, that’s what I deal with.

Plenty of people remodel or partial and you shake your head to how bad it still can look.. better saving the money and letting someone do it exactly how they want it. If you’re buying a house for near a million now at these interest rates. You have money to do remodel how you want.
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I'm dealing with good friends of mine who would rather drive 20 miles from their ideal locations than buy a home that isn't move in ready to their specifications. It drives me nuts. Decor goes out of style. Location does not.
 
JD08 said:
Last realtor I spoke with was adamant about not doing anything to the house as far as additional remodeling. It would seem it's an all or nothing deal now. Either it looks like a model home or it's a fixer upper.
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I think it depends on how much the house is worth vs. the land. If the real value is the former, many improvements will add to the value. If its the latter, there is no point in improvements.
 
SpikeUM said:
I think it depends on how much the house is worth vs. the land. If the real value is the former, many improvements will add to the value. If its the latter, there is no point in improvements.
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I'm almost certainly in the latter category. Especially considering a baseball player bought 3 properties with houses totalling 10 acres and tore all but 1 down. The one that stayed looks like it will be a guest house. The house he's been building for tge last 4 years is massive.
 
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JD08 said:
I'm almost certainly in the latter category. Especially considering a baseball player bought 3 properties with houses totalling 10 acres and tore all but 1 down. The one that stayed looks like it will be a guest house. The house he's been building for tge last 4 years is massive.
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Then it sounds like good advice.
 
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States run lotteries which are legalized gambling. Politicians having cryptocurrency named after them is no different than them starting a tech business.

Just to be clear- I’m not a fan of any of the above
 
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Median house - listed for 5 days. Pending $10k over with 9k towards closing. We likely could have extended the showings by a week to get 2-3 more offers. 12 showings and 5 said they were going to write offers but we only got one.
 
Interesting factoid

Renters have less than 3% of the wealth of homeowners, with a median net worth of $10,400 compared to nearly $400,000 for homeowners. The renter-homeowner wealth gap is not due solely to home equity. Median home equity ($200,000) is just over half of the amount of median net worth for homeowners, indicating that much of homeowners’ wealth also comes from other assets. Indeed, 78% of homeowners own a potentially appreciating asset other than their primary residence, compared with only 48% of renters. Source: Aspen Institute
 
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SpikeUM said:
Interesting factoid

Renters have less than 3% of the wealth of homeowners, with a median net worth of $10,400 compared to nearly $400,000 for homeowners. The renter-homeowner wealth gap is not due solely to home equity. Median home equity ($200,000) is just over half of the amount of median net worth for homeowners, indicating that much of homeowners’ wealth also comes from other assets. Indeed, 78% of homeowners own a potentially appreciating asset other than their primary residence, compared with only 48% of renters. Source: Aspen Institute
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Rent or lease own is a option to sell a house.
 
SpikeUM said:
Interesting factoid

Renters have less than 3% of the wealth of homeowners, with a median net worth of $10,400 compared to nearly $400,000 for homeowners. The renter-homeowner wealth gap is not due solely to home equity. Median home equity ($200,000) is just over half of the amount of median net worth for homeowners, indicating that much of homeowners’ wealth also comes from other assets. Indeed, 78% of homeowners own a potentially appreciating asset other than their primary residence, compared with only 48% of renters. Source: Aspen Institute
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This makes perfect sense. The average home is owned for 7years. Those low rates and massive appreciation over the last 4-5 years mean that a home owner would have seen a massive networth increase, lower cost of housing every year, and likely higher income.

Renter- rent goes up by 10% eating into their income
Homeowners- costs may go up by 1% (taxes/insurance).
Income inflation 3% (don’t know the exact)

After owning for 7 years(average) the person gets profits tax free up to 250/500k (single/married). They can elect to reinvest anyway they want.

Homeowners likely have standard w2 thus 401ks that can get contributions due to lower cost of living.
 
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