[lbo-talk] more on house prices

andie nachgeborenen andie_nachgeborenen at yahoo.com
Wed Aug 22 08:48:01 PDT 2007


Figures vary on modeling recovery:

http://www.rivercrest.com/reports/sum2004.pdf

This 100%+ figure is optimistic but I think too high, regional in aregional that has since collapsed, and bubbly.

This +/-80% figure seems more realistic, though it is still pre-bubble busting.

http://www2.remodeling.hw.net/industry-news.asp?articleID=23126&sectionID=173

Plus there is painting, plumbing, electrical, roof -- all post inspection.

--- Matt <lbo4 at beyondzero.net> wrote:


> On Tue, Aug 21, 2007 at 09:43:56PM -0700, andie
> nachgeborenen wrote:
> >
> > $5K a year in maintenance sounds right, in fact
> low to
> > me. Granted we have an old (1927) house. This year
> I
>
> [...]
>
> > basement, that was about $70K, you can count that
> as
> > part of the cost of the house if you like.
>
> I would count most of this. Bathroom and Kitchen
> improvements can
> usually be folded into a sales price at at least
> 100% of what you
> spent, often more like 115%. Your basement won't be
> quite 100%, more
> like 90%.
>
> I was thinking of routine maintenance on a house
> that started out
> passing inspections and came with a warranty for
> maybe the first
> year. Would your 1927 home have passed an FHA or VA
> loan inspection,
> presuming you qualified as a borrower? As a
> first-time home buyer I
> qualified for FHA and beyond a new railing and some
> painting the house
> passed. I required the seller to get a complete
> warranty so I had a
> year where I could build up my emergency fund (this
> would have covered
> replacing everything from the roof to every
> appliance; in fact I got a
> new washing machine out of it, woohoo!) - this cost
> the seller $200 or
> something.
>
>
> Matt
>
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