The Fly Trap (Possibly NSFW)

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JPatrick said:
Hey, if youre coming down this way, hit me up and well have a couple beers!
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i was thinking of that. depends how i get down there though. i'm probably riding with the rest of the crew thursday morning, in which case it'll be right to the boat and out into the gulf. if i end up driving myself down i'll be able to make time.
 
I looked at this house a month ago right after it went on the market. The asking price was $500k at the time.

I passed because it needs a a major renovation with most of it being gutted.

1) fucked up swimming pool that needs to be ripped out,

2) baseboard heat thats broken so they use kerosene monitor heaters with a rusty tank out back for fuel,

3) a shitty kitchen that's not an eat in deal, and the dining room is 15 feet away around a corner.

4) It's ugly as hell inside

5) the floor plan was drawn up by a reatrd

6) The deck has chicken wire over the shitty railings.

7) The driveway is so fucked up dirt would be better.

But now it's down to $430k and I'm curious if they'd take $400k for it.

Yeah, it's a fixer-upper.

http://www.zillow.com/homedetails/8-Hackmatack-Dr-Scarborough-ME-04074/2143866396_zpid
 
Wow, that's a lot of money for a fixer.

I'm looking at houses right now and found one that has dropped 56% in value over the last 2 years. That's just insane.
 
kiwi said:
Wow, that's a lot of money for a fixer.

I'm looking at houses right now and found one that has dropped 56% in value over the last 2 years. That's just insane.
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Jonny_B said:
ahhh, acreage. nice! i was wondering how to justify $172/s.f. It better be some damn nice land.
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Yep, the land is the key.

It may actually be easier to rip half the house down and just start new. :fly:

There's also a covenance in place so the land can't be subdivided. If I renovated it for $250k - $300k I could sell it for over $800k once the market picks back up.

And thats the shitiest house on the street. All the rest have been fixed up. My parents actually live right across the street.
 
Valve1138 said:
Yep, the land is the key.

It may actually be easier to rip half the house down and just start new. :fly:

There's also a covenance in place so the land can't be subdivided. If I renovated it for $250k - $300k I could sell it for over $800k once the market picks back up.

And thats the shitiest house on the street. All the rest have been fixed up. My parents actually live right across the street.
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ha! i was thinking of subdividing it as soon as i saw the acreage.
 
Valve1138 said:
Denied! :p

And apparently one of my neighbors has put their house up for sale. They did a no sign thing apparently.

http://www.zillow.com/homedetails/33-Cottage-Park-Rd-Portland-ME-04103/2143063334_zpid

Shit, property values aren't as bad as I thought around here.

Might be time to sell this place and buy the shit hole fixer upper.
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Values dropped about 10% here, and even with that values are higher than average. I wouldn't mind seeing an increase but I think it's going to take slow years for things to build back up again.
 
Valve1138 said:
Yep, the land is the key.

It may actually be easier to rip half the house down and just start new. :fly:

There's also a covenance in place so the land can't be subdivided. If I renovated it for $250k - $300k I could sell it for over $800k once the market picks back up.

And thats the shitiest house on the street. All the rest have been fixed up. My parents actually live right across the street.
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Yea, I noticed the 6 acres after I made the post.
 
425k for 6 acres?

Hell, I'd live in a tent on the land to make that work.

Plenty of room for the machine gun nests, the tower, the moat, and the cannon pit.
 
offer 350k for it Valve, work your way up to 400k.

is it someones residence? i'm guessing it isn't. in which case, is it someones second house? or does an investor that doesn't need to unload it right now own it? if it's someones second property for whatever reason, you could probably negotiate pretty hard with them.

you might also ask what they owe on it. if they owe 400k, then ask for a subject to: loan and just take over the deed, maybe throw 5k in cash their way. you get around having to get a loan this way, you just used their credit!
 
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you ever get the feeling that local news stations are doing a parody of themselves on purpose, and are laughing their asses off because people keep watching?

i'm afraid the future of local news could be kids that saw Anchorman and want to be just like Ron Burgundy.
 
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