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Real Estate Decisions

June 21st, 2010 at 11:01 pm

1. We decided not to move forward with the lot purchase idea. We just couldn't justify paying anywhere near the $99k they are asking for just a 0.5 acre lot. Even if they took $60k for it, my mother told me that it was still way too much to pay for such a small piece of land. We'll keep an eye on it and see what kind of activity actually happens on it though.

2. We are moving closer toward buying a small fixer-upper though as a rental (then a flip once the market really picks up). We have decided to focus on the neighboring county which has much lower property values and finding a house listed between $80-$100k. We have lined up with our realtor to look at 5 houses on Sat that fit this criteria so we'll see.

So, anyway, these are the decisions we've made today... who knows what we'll decide on tomorrow though {{wink}}. Aahh, the joys of real estate.

3. We have another scheduled showing tomorrow. So, in 3 weeks, that will make 5 showings. Activity is definitely picking up but now it's just a matter of someone making an offer on our house! C'mon, people! Whatcha waiting for? Smile

4 Responses to “Real Estate Decisions”

  1. creditcardfree Says:
    1277159091

    Fingers crossed on an offer for your home!

  2. whitestripe Says:
    1277168830

    funny how the perspective on land prices change with the area. in our area, you would pay over 300k for a lot that big, and our area is pretty rural, out in the sticks and not extremely popular at this stage. friends of ours just bought a 500 square meter block about 30 minutes away from us, and paid $350k (just for the block).

  3. all4money Says:
    1277207611

    Wowsers! I can't even fathom those kinds of prices, whitestripe!

  4. whitestripe Says:
    1277251499

    and for us it's normal Smile our own land + house was $320k for 1/4 acre.

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