(no subject)
Sep. 17th, 2006 11:08 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
Dear potential sellers of property,
A renovated 3 bedroom house in Greenwood is seemingly worth $395k (1, 2).
Given the above, despite what you may believe (or your unaffiliant and overly optimistic real estate agent), an unrenovated house a few streets away is NOT worth $390k (here). People don't pay for potential. People pay LESS because of the potential, generally by the amount it would cost to bring it up to spec, and minus a profit margin.
Sigh.
A renovated 3 bedroom house in Greenwood is seemingly worth $395k (1, 2).
Given the above, despite what you may believe (or your unaffiliant and overly optimistic real estate agent), an unrenovated house a few streets away is NOT worth $390k (here). People don't pay for potential. People pay LESS because of the potential, generally by the amount it would cost to bring it up to spec, and minus a profit margin.
Sigh.
(no subject)
Date: 2006-09-17 03:25 am (UTC)(no subject)
Date: 2006-09-17 04:23 am (UTC)(no subject)
Date: 2006-09-17 04:46 am (UTC)I was looking at prices in Melbourne and Sydney last week.. it's cheaper than here. Sigh. So depressing.
(no subject)
Date: 2006-09-17 10:36 am (UTC)Interested in living in Logan? :-)