a thoughtful web.
Good ideas and conversation. No ads, no tracking.   Login or Take a Tour!
comment by kleinbl00
kleinbl00  ·  435 days ago  ·  link  ·    ·  parent  ·  post: Terrible Real Estate Agent Photographs

This has been missing for far too long.

The best part of the last real estate downturn was Lovely Listing, which was great, which was purchased by Cheezburger, which was ruined, which was done.

I maintain that the proliferation of questionable real estate images is a good indicator of an impending housing crash (GenX and Millennials losing 10% of their purchasing power a-la resumption of student loans is likely to be a big part of that). The brutal lack of flips and estate sales of houses that smell of cat pee because the heirs don't have the time to servpro the place is another.

I've been to three cat-pee open houses in the past three months and I've only been to four open houses.

How 'bout some anecdata?

This house hit the market last November with no internal photos, two outbuildings and a plat map. Amusingly enough, much of the property is "tracts" which cannot be built on by legal definition, and there were mos def outbuildings on the tracts. If you did an even surface-level analysis, you saw this:

uhh

So someone paid $2.1m for that turkey last November. Since then they tore down two outbuildings, put in a $40k driveway, replaced all the floors, took the kitchen down to the studs, drywalled taped and mudded the garage, gave the whole place new windows and poured a $50k patio with integrated flood barrier.

All so they can list it for $2.1m.