Bay Area Chugging Along


#102

@ww13, I agree in general but this is really a 3/1 950sft home with low roof and single car garage. Your buyers are not looking for this spec. . And @sfdragonboy and I seem to agree :slight_smile:

Also my 100k statement is very vague. I always believe in bringing the property to the avg home size/remodel that the neighborhood can take. . I wouldn’t like to be the guy that sets the comp for the neighborhood.


#103

That developer who did the complete new home that I am asking you about if you saw it said that area is destined for greatness with the recent new remodels. I agree with him!!!


#104

@sfdragonboy I haven’t checked out recently but i saw the prime builders project that you spoke about, I am sure if listed for wil go for 1.1M provided he expanded the home to 2000 Sgt.


#105

I might have to check it out today :). The jump from 950 sqft to 2000 sqft is big and will trigger a lot of additional expenses - school/impact fees, fire sprinklers, shear walls, etc.

Let your neighbors do the work and reap all the benefits.

Btw, whack a mole is wrong. I’ve seen it happen on professional jobs.


#106

That developer is impressive. He has done some remodels even in the Sunset area like a cluster of townhomes on 19th Ave.


#107

I am a serial flipper. But just let the market do the heavy lifting. We need more cheap starter homes and less overpriced flips. Of course put lipstick on it. But why bust your ass over improving. Basics paint carpet landscaping staging will give the best ROI… $100k that returns $110k
Ain’t worth the effort…


#108

950 - 2000sf more than 50% tear down only
Fugetaboutit
Tear downs don’t make sense there.
Better in $1000/SF neighborhoods

The house is already worth $700k
Putting $100k in it isn’t going to make it worth $1m
Not a $1000/SF neighborhood


#109

No, in my estimation, a 100k investment may not be necessary. I am thinking maybe a 50k spend to incorporate the garage space into the living space would be an easy way to convert to 4/2 from 3/1. That should give me a good bang for the buck right?


#110

Always do a fancy remodel to sell. However, do modest modeling only to attract tenants.


#111

Dang, @RealEstatebull, if you had a property on this side in San Bruno or Millbrae, I would trade with you the Fremont project and give you the rest in cash or whatever… I wouldn’t expect a deal and would pay you a premium…


#112

Maybe 50 spent could get 50 more… Check the comps
But if no 1031 potential why bother ?


#113

My 100k would include adding 200 sft and making it a 4/2 and upgrade the gravel roof to a regular shingle roof. Improve the curb appeal, stucco the exterior.

Million for sure


#114

Yes, the plan would be the same…exchange to another home on this side that we can move in and live 2 out of 5 years. Thank God the law did not change!!!


#115

800/SF
In Fremont for a cramped 4/2?


#116

Remember… no inventory of 1m and under homes in decent, local areas like Fremont where techies would consider and have money to buy. Winning formula…


#117

Just did a quick check. HECK YES! I’m surprised as well.


#118

Just keep raising the rent. Why exchange one headache for another. The value is in the dirt…just watch it grow in value.


#119

Agreed, that too… Yes, don’t scold me @RealEstatebull but I am charging 2200 from Day 1… no rent increase ever


#120

Looks like @sfdragonboy has enough ideas/opinions on what to do with Fremont home for the new year!!


#121

Time to get to work. When is the fire?