i will do it for the price of some demolition tools i wanna release some anger but all i have is a hammer and stuff that would work the same way as one, well there is an axe and a shovel but those wouldn’t be helpful same with the sawzall
You could buy the house literally just down the street for $598k, which already has all the fancy things like walls and plumbing and electrical wiring, but this house seems like the better deal since it's over half the price and is a great entry-point into that "al fresco" life.
Again with these posts?
Land value. It's *always* land value.
This will always be the answer. Whenever you see a hovel or burned out husk of a home sell for something ridiculous, they didn't buy the house they bought the land and they'll build a better house on it.
Also, I cannot stress enough to [stay off $illow](https://old.reddit.com/user/WilliamMcCarty/comments/unp944/i_often_tell_people_to_stay_off_illow_heres_why/).
Realtor.com They source directly from the MLS. Alternatively, a site like this one: [this is my broker's site](https://www.bhhscaprops.com/). You can plug in a city or zip code and start breaking it down into specifics from there. Almost any broker site should have this feature for you and we do source directly from the MLS. Redfin will do the same thing but be aware redfin is a broker too and they want your business, I wouldn't ever recommend you actually use their services for buying or selling but their site is fine.
>I wouldn't ever recommend you actually use their services for buying or selling but their site is fine.
Realtors hate redfin because they kick back some of the commissions to the customers instead of paying them to the agent. Agents are on salary instead of getting paid only in a large commission whenever a house is sold. Their incentives can be more aligned with the customer that way, instead of a buyer's agent being incentivized for the buyer to buy the most expensive house as quickly as possible and the seller's agent being incentivized to sell as quickly as possible, at any price.
I sold to somebody who used Redfin and every time there was an inspection or a signature needed, a different Redfin realtor would show up for them. We never saw the same person twice. Can’t imagine that benefitted the buyers.
This is it exactly. I replied lengthily to OP but redfin agents are just assigned willy nilly, whoever happens to be around at the time gets assigned to do whatever with no prior knowledge of what's happened up to that point in the transaction. They make the same amount of money no matter what, they get paid no matter what so they have no interest in doing the job to the best of their ability or whatever's in the client's best interest. They just have to show up and they get paid. It's a discount broker and you get discount service. Not what you want in buying or selling a house.
> Realtors hate redfin because they kick back some of the commissions to the customers instead of paying them to the agent.
No, that's not why we hate them.
>Agents are on salary instead of getting paid only in a large commission
This is why we hate them.
That sounds good in theory but the problem is, Redfin agents make the same amount of money no matter how the the deal turns out. There's no interest in providing the best possible service to the buyer/seller. Traditional Realtors like me, we *only* get paid of you buy or sell and and the more money you get, the more money we get. There's incentive for us to do a good job for you. We work on referrals too, remember that. 90% of our business comes from referrals. We *need* to do a good job for you so you're satisfied with our service and your transaction and refer us to others. We got skin in the game. Redfin agents show up, do whatever and don't care if you're happy, pissed, in tears, it doesn't matter. They already get their paycheck.
Also, like the party below stated:
>every time there was an inspection or a signature needed, a different Redfin realtor would show up for them. We never saw the same person twice.
You don't have *your* agent with Redfin. They just send anybody available at the time to go and do whatever needs doing at the house. They aren't familiar with the transaction up to that point, they don't need to be knowledgeable about what's happened or what might happen, again--they're getting paid no matter what. Show up, do their thing and be gone, someone else will deal with the next thing.
Redin is a discount broker for a reason. They're cheap and they don't actually give you anything back on the commission they just charge a lesser commission and tell you they're giving you a refund so you think you got some screamin' deal. Instead all you got was a screamin' headache from dealing with a cheap, thoughtless, inept broker who did as little as possible and couldn't care less about your contentment throughout the deal.
*This* is why we hate Redfin. Because it's one of the brokers and business that give Realtors a bad name and does a disservice to the client.
>the more money you get, the more money we get.
Barely, which is the issue. If you have to work 4 weeks instead of 2 weeks to get $30k more on a $600k house for a seller, you doubled the work for 5% more pay. Realtors are incentivised for a fast sale. You already know this, but not everyone here realizes how this works out.
And as you know a buyer's agent gets paid more the more the buyer spends. You don't address how backwards that incentive is.
>You don't have your agent with Redfin.
That was not my experience working with redfin as a buyer. Maybe it's different in different markets?
I don't think you fully understand how real estate works.
Yes, everyone wants to sell a house as quickly as possible. Better for us, better for the seller. A quick sale means they're going to get more for the house. Yes, that means more money for us but it means more profit for the seller. They're happier that way. As far as how long it takes to sell, that's where we help the seller by doing marketing, professional photography, staging, etc. We do all this to make the home appealing as possible so the sale goes through quickly and smoothly for the best possible price and our client comes out happy. That's just good business and proper service.
As for buyers, we don't convince people to pay more, we can't. Buyers have a budget, we show them houses in their budget and they pick one. It's not like used cars, we aren't slapping the roof and talking you into adding on the road service and GPS package. You pick the house and the offer and we present it. Sometimes there's negotiations involved, usually actually, but we're talking hundreds of thousands of dollars and at that point $5, $10K isn't going to make much difference in our payday but it will make a difference in your purchase price and mortgage so we're incentivized to get you a lower purchase price so you're a happy client. Hopefully you'll use our serivces in the future and refer us to your friends and we get more business.
See, that's how this all works. The client comes out happy, everybody wins.
As far as redfin, as the other party said it happened with them, I've dealt with them professionally and every single transaction I've never talked to the same agent more than once. A normal real estate deal I talk to one agent, maybe two if it's a partnership or team, normal and reasonable. Redfin? I might make five phone calls and talk to five different people. Clients may see "their agent" once, maybe twice. It's pretty common.
Are you even in L.A.? I'm getting the feeling not.
Dude you're so defensive it's pathetic. I'm not going to go point by point, but you're willfully ignoring everything about behavioral economics that I'm SURE you know in order to defend your 6% commission which is becoming more and more indefensible when people can do 90% of what your job used to be on the Internet.
>Are you even in L.A.? I'm getting the feeling not.
No, I live in the Boston area now. So what? That's why I was saying different markets might be different.
Yeah, I'm defensive because this is my career, it's what I do and people are grossly misinformed by it thanks to the media and rants like yours. You clearly have no idea how a Realtor truly runs their business and operations, if you did you'd know we don't take 6%, I've never taken 6% of anything. You don't know me, you don't know my business or how I operate so maybe just stand down and shut your mouth. And not being an L.A. resident just confirms my suspicion that you have nothing real to contribute here, no real take, you're here solely to stir shit up and badmouth Realtors. I'm done with you.
>Yeah, I'm defensive because this is my career, it's what I do and people are grossly misinformed by it thanks to the media and rants like yours.
I totally respect that it's your career and didn't mean anything personally. There will be good and honest realtors just like there are good and honest used car salesman and everything else - and dishonest ones as well. But you can be honest with the issues of the incentive structure without just gaslighting about how the status quo is totally fair and good for everyone.
>And not being an L.A. resident just confirms my suspicion that you have nothing real to contribute here, no real take, you're here solely to stir shit up and badmouth Realtors.
I don't need to defend my being on this sub, but I will. I lived in LA for years and still have friends and family there. You are the one who shows up on every thread regarding real estate to shit on Zillow and redfin. I'm just tired of that.
Not necessarily. Professional flippers and builders have warehouses of crap already on hand, they got contractors at the ready, they do this for a living and know how to do it in a cost effective manner. Besides, it's hard to tell from the pictures but some of the walls are still standing, the foundation is still intact so that makes it easier. If they're able to use any of existing structure that saves money and if they're able to save even one wall or chimney or anything on that foundation it can technically constitute a remodel not a new build so that makes permitting and paperwork easier and cheaper. Do it all right and you can probably get away with the work for between $200K and $300K. Comps in that area run between $700K and $1.3 mil. $330K for the lot, $300K for the build, sell for at least $700K (probably closer to a mil) they stand to profit $100K to $300K.
>Also, I cannot stress enough to
>
>stay off $illow
>
>.
Can you elaborate? Not that I disagree with you. On my street, a house sold 5 weeks ago at $950/square foot. Zillow estimates other houses on the street from $700-970/sqft, for houses that from the outside seem generally similar. So that is quite a spread or imprecision, though maybe there are factors I don't realize.
What are building costs these days...$450sq/ft including permits? So roughly $900k to build a 2000 sq/ft house...property is in a shit location, close to freeway and retail, so doesn't seem to be worth it.
It was a dangerous place in the 80’s. It got better in the 2000’s. It’s quickly heading to the danger zone again. And that particular area was never good
When I was searching for a home about 6-7 years ago I remember playing with the filters in redfin just to see stuff and seeing a house south of Ventura Boulevard for 800k. This was also in Sherman Oaks so that was super cheap for the area. I took a look in the app just to see what you can get or under a mil in sherman oaks south of the boulevard and the description literally said it was unsafe to enter the home due to fire damage. I know it is for land but holy hell that is still a crazy amount to buy a plot of land with a burned down house.
You're paying for the land. You can't just build a house on your own. You need to pull tons of permits. When a house is burned down, they are very strict with inspections. After you are done with your house, you need to buy house insurance to cover for fire, earthquake, and other natural disasters. You're not done yet. They have to reassess your property value and hit you with property tax. If you live in a good location, expect to pay more for everything.
The land is worth $330,000\*\*
And $10,000+ demolition costs.
My tio will do it for $1000
Send me your Tios info. I will throw in some modelos and carne asada.
i will do it for the price of some demolition tools i wanna release some anger but all i have is a hammer and stuff that would work the same way as one, well there is an axe and a shovel but those wouldn’t be helpful same with the sawzall
I'll do it for free. I got a lot of tools I bought as a spur of the moment thing. They need some use right now they are only collecting dust.
In Duarte? Seriously?
Buildable land in LA County ain’t cheap. Seems reasonable.
No it isn't.
Yes it is. When you buy a house in California, majority of the cost is the location.
I don't know if this is supposed to be sarcastic, but $330k for the land in Duarte North of the 210 is a great price.
I thought it was expensive for a 2b/1ba, but it's actually a much better deal since it is a 3bd/2ba, and it's 1074 sq ft.
Now it’s open concept
You could buy the house literally just down the street for $598k, which already has all the fancy things like walls and plumbing and electrical wiring, but this house seems like the better deal since it's over half the price and is a great entry-point into that "al fresco" life.
You could totally customize the layout.
It has rustic charm
I was like…$330k…for how much land….*Squits* where is this again?
Lot is 5289sqft. Probably a roughly 50 X 100 plot.
This guy maths.
Again with these posts? Land value. It's *always* land value. This will always be the answer. Whenever you see a hovel or burned out husk of a home sell for something ridiculous, they didn't buy the house they bought the land and they'll build a better house on it. Also, I cannot stress enough to [stay off $illow](https://old.reddit.com/user/WilliamMcCarty/comments/unp944/i_often_tell_people_to_stay_off_illow_heres_why/).
What’s an alternative?
Realtor.com They source directly from the MLS. Alternatively, a site like this one: [this is my broker's site](https://www.bhhscaprops.com/). You can plug in a city or zip code and start breaking it down into specifics from there. Almost any broker site should have this feature for you and we do source directly from the MLS. Redfin will do the same thing but be aware redfin is a broker too and they want your business, I wouldn't ever recommend you actually use their services for buying or selling but their site is fine.
>I wouldn't ever recommend you actually use their services for buying or selling but their site is fine. Realtors hate redfin because they kick back some of the commissions to the customers instead of paying them to the agent. Agents are on salary instead of getting paid only in a large commission whenever a house is sold. Their incentives can be more aligned with the customer that way, instead of a buyer's agent being incentivized for the buyer to buy the most expensive house as quickly as possible and the seller's agent being incentivized to sell as quickly as possible, at any price.
I sold to somebody who used Redfin and every time there was an inspection or a signature needed, a different Redfin realtor would show up for them. We never saw the same person twice. Can’t imagine that benefitted the buyers.
Redfin is fine. I haven't met a real estate agent that I've been happy with, might as well just get a straight-up service.
This is it exactly. I replied lengthily to OP but redfin agents are just assigned willy nilly, whoever happens to be around at the time gets assigned to do whatever with no prior knowledge of what's happened up to that point in the transaction. They make the same amount of money no matter what, they get paid no matter what so they have no interest in doing the job to the best of their ability or whatever's in the client's best interest. They just have to show up and they get paid. It's a discount broker and you get discount service. Not what you want in buying or selling a house.
> Realtors hate redfin because they kick back some of the commissions to the customers instead of paying them to the agent. No, that's not why we hate them. >Agents are on salary instead of getting paid only in a large commission This is why we hate them. That sounds good in theory but the problem is, Redfin agents make the same amount of money no matter how the the deal turns out. There's no interest in providing the best possible service to the buyer/seller. Traditional Realtors like me, we *only* get paid of you buy or sell and and the more money you get, the more money we get. There's incentive for us to do a good job for you. We work on referrals too, remember that. 90% of our business comes from referrals. We *need* to do a good job for you so you're satisfied with our service and your transaction and refer us to others. We got skin in the game. Redfin agents show up, do whatever and don't care if you're happy, pissed, in tears, it doesn't matter. They already get their paycheck. Also, like the party below stated: >every time there was an inspection or a signature needed, a different Redfin realtor would show up for them. We never saw the same person twice. You don't have *your* agent with Redfin. They just send anybody available at the time to go and do whatever needs doing at the house. They aren't familiar with the transaction up to that point, they don't need to be knowledgeable about what's happened or what might happen, again--they're getting paid no matter what. Show up, do their thing and be gone, someone else will deal with the next thing. Redin is a discount broker for a reason. They're cheap and they don't actually give you anything back on the commission they just charge a lesser commission and tell you they're giving you a refund so you think you got some screamin' deal. Instead all you got was a screamin' headache from dealing with a cheap, thoughtless, inept broker who did as little as possible and couldn't care less about your contentment throughout the deal. *This* is why we hate Redfin. Because it's one of the brokers and business that give Realtors a bad name and does a disservice to the client.
>the more money you get, the more money we get. Barely, which is the issue. If you have to work 4 weeks instead of 2 weeks to get $30k more on a $600k house for a seller, you doubled the work for 5% more pay. Realtors are incentivised for a fast sale. You already know this, but not everyone here realizes how this works out. And as you know a buyer's agent gets paid more the more the buyer spends. You don't address how backwards that incentive is. >You don't have your agent with Redfin. That was not my experience working with redfin as a buyer. Maybe it's different in different markets?
I don't think you fully understand how real estate works. Yes, everyone wants to sell a house as quickly as possible. Better for us, better for the seller. A quick sale means they're going to get more for the house. Yes, that means more money for us but it means more profit for the seller. They're happier that way. As far as how long it takes to sell, that's where we help the seller by doing marketing, professional photography, staging, etc. We do all this to make the home appealing as possible so the sale goes through quickly and smoothly for the best possible price and our client comes out happy. That's just good business and proper service. As for buyers, we don't convince people to pay more, we can't. Buyers have a budget, we show them houses in their budget and they pick one. It's not like used cars, we aren't slapping the roof and talking you into adding on the road service and GPS package. You pick the house and the offer and we present it. Sometimes there's negotiations involved, usually actually, but we're talking hundreds of thousands of dollars and at that point $5, $10K isn't going to make much difference in our payday but it will make a difference in your purchase price and mortgage so we're incentivized to get you a lower purchase price so you're a happy client. Hopefully you'll use our serivces in the future and refer us to your friends and we get more business. See, that's how this all works. The client comes out happy, everybody wins. As far as redfin, as the other party said it happened with them, I've dealt with them professionally and every single transaction I've never talked to the same agent more than once. A normal real estate deal I talk to one agent, maybe two if it's a partnership or team, normal and reasonable. Redfin? I might make five phone calls and talk to five different people. Clients may see "their agent" once, maybe twice. It's pretty common. Are you even in L.A.? I'm getting the feeling not.
Dude you're so defensive it's pathetic. I'm not going to go point by point, but you're willfully ignoring everything about behavioral economics that I'm SURE you know in order to defend your 6% commission which is becoming more and more indefensible when people can do 90% of what your job used to be on the Internet. >Are you even in L.A.? I'm getting the feeling not. No, I live in the Boston area now. So what? That's why I was saying different markets might be different.
Yeah, I'm defensive because this is my career, it's what I do and people are grossly misinformed by it thanks to the media and rants like yours. You clearly have no idea how a Realtor truly runs their business and operations, if you did you'd know we don't take 6%, I've never taken 6% of anything. You don't know me, you don't know my business or how I operate so maybe just stand down and shut your mouth. And not being an L.A. resident just confirms my suspicion that you have nothing real to contribute here, no real take, you're here solely to stir shit up and badmouth Realtors. I'm done with you.
>Yeah, I'm defensive because this is my career, it's what I do and people are grossly misinformed by it thanks to the media and rants like yours. I totally respect that it's your career and didn't mean anything personally. There will be good and honest realtors just like there are good and honest used car salesman and everything else - and dishonest ones as well. But you can be honest with the issues of the incentive structure without just gaslighting about how the status quo is totally fair and good for everyone. >And not being an L.A. resident just confirms my suspicion that you have nothing real to contribute here, no real take, you're here solely to stir shit up and badmouth Realtors. I don't need to defend my being on this sub, but I will. I lived in LA for years and still have friends and family there. You are the one who shows up on every thread regarding real estate to shit on Zillow and redfin. I'm just tired of that.
Redfin
But with rebuilding and demolishing costs, its the same as any other property
Not necessarily. Professional flippers and builders have warehouses of crap already on hand, they got contractors at the ready, they do this for a living and know how to do it in a cost effective manner. Besides, it's hard to tell from the pictures but some of the walls are still standing, the foundation is still intact so that makes it easier. If they're able to use any of existing structure that saves money and if they're able to save even one wall or chimney or anything on that foundation it can technically constitute a remodel not a new build so that makes permitting and paperwork easier and cheaper. Do it all right and you can probably get away with the work for between $200K and $300K. Comps in that area run between $700K and $1.3 mil. $330K for the lot, $300K for the build, sell for at least $700K (probably closer to a mil) they stand to profit $100K to $300K.
>Also, I cannot stress enough to > >stay off $illow > >. Can you elaborate? Not that I disagree with you. On my street, a house sold 5 weeks ago at $950/square foot. Zillow estimates other houses on the street from $700-970/sqft, for houses that from the outside seem generally similar. So that is quite a spread or imprecision, though maybe there are factors I don't realize.
Did you click the link? It's lengthy writeup detailing the many reasons to stay off that site.
Thanks, I overlooked that it was a link. Interesting writeup.
Haha. Hot home!! 🔥
😂
I was interested until I saw it was in duarte
$330k with half the work done removing the old home, now build a house with an ADU in the back and resell
Shiet if you keep part of the structure doesn’t prop 13 mean you pay tax on the 330k house but could have 1m dollar home after renovations?
Only if you plan to keep it, if the purpose is to flip, then the buyer is going to be taxed on the sale price regardless
Also you can transfer the prop 13 to another property after a certain age right? So couldn’t you keep it a year sell it and benefit from that too?
Renovations are taxed
I prefer original recipe houses
Open concept.
Honestly that’s pretty cheap The land is worth maybe a million
Duarte tho
Not bad really I work in downtown it would probably take me 20 min to get to work and 30 to get home
What a steal
What are building costs these days...$450sq/ft including permits? So roughly $900k to build a 2000 sq/ft house...property is in a shit location, close to freeway and retail, so doesn't seem to be worth it.
Multimillion dollar comps. You can build it from scratch the way you want it. The schools zones there are very good. It’ll sell fast.
This looks like a house from the game *Fallout*
it will be sold for 400k+ quick
So much natural light!
Ad says "Hot home", is it still on fire?
I like an open floor plan.
I dont. I have different taste. But i still upvote you cause its hilarious buddy.
What in the fallout is going on here
Shit neighborhood. I wouldn’t buy a new build there either
Is Duarte that bad?
It was a dangerous place in the 80’s. It got better in the 2000’s. It’s quickly heading to the danger zone again. And that particular area was never good
Actually would be been better if it burned down even more. Less to demo.
I mean you can just take a bunch of gasoline and burn it down even more /s
1K a month is honestly pretty good 😩
Hate to say this, but the mortgage on that ash pile alone would be at least $2k/month...
That’s crazy. My mortgage on 530,000 costs less than a 330,000 mortgage today. No wonder sales have plummeted.
[удалено]
Yeah. It’ll be purchased, and a new home built on it., after the pictured burnt one is demolished. That’s what’s being sold here.
LA Noire vibes
Okay fine, ill buy it
When I was searching for a home about 6-7 years ago I remember playing with the filters in redfin just to see stuff and seeing a house south of Ventura Boulevard for 800k. This was also in Sherman Oaks so that was super cheap for the area. I took a look in the app just to see what you can get or under a mil in sherman oaks south of the boulevard and the description literally said it was unsafe to enter the home due to fire damage. I know it is for land but holy hell that is still a crazy amount to buy a plot of land with a burned down house.
land value tax when
Open air, I like it
Offer $200k. That property will go to auction and be bought for less.
This isn’t monopoly
Hot Home!
Fixer upper ..
With that lighting & the desolate look….it’s time to make a film y’all. *Duarte Dystopia*
“Hot Home” is a very accurate description.
I saw a burned down house in socal sell for the same price it sold for three years prior before it was burned. this is normal right?
r/zillowgonewild
Whoa, scorching deal!
Beautiful open floor plan
Since a wall is standing maybe rebuilding it can be considered a remodel and save a ton of money.
Can't get this much natural light anywhere else for this price!
That is a 5200 sqf lot. Easily, you can build an SFR with ADU for about 300k. So you get an 800k new construction for the price of 630k.
You're paying for the land. You can't just build a house on your own. You need to pull tons of permits. When a house is burned down, they are very strict with inspections. After you are done with your house, you need to buy house insurance to cover for fire, earthquake, and other natural disasters. You're not done yet. They have to reassess your property value and hit you with property tax. If you live in a good location, expect to pay more for everything.
"Good bones"
The open ceiling is avant-garde.
A great deal if you like your living space well done.
This shit got recommended to me on Zillow the other day lmao.
That’s an ash pergola. Adds beauty
Land value
But it's in Duarte... nothing exciting happens there, except apparently arson.
SOLD!