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We recently worked with our past realtor and she confirmed that Opendoor and the like have stopped actually fixing homes. Just buy and flip as is.
by diob 5y ago
We recently worked with our past realtor and she confirmed that Opendoor and the like have stopped actually fixing homes. Just buy and flip as is.
- bane 5y agoThere's not really much reason to put anything into them. The market moved so incredibly fast this past year there wasn't any motivation to do so. We have a property that three years ago was worth no more than $550k, we managed to sell it recently (get it under contract) in 2 days for nearly $900k with a few obvious fix-em-up issues -- including all cash offers. If the house had been in great shape our realtor believes we could have moved it for around a million easily. The jump in price occurred almost entirely in the past year.
- diob 5y agoYeah, it's just dumb. Only winners in this market will be those who own property as an investment. First time home buying is quickly becoming a pipe dream.
- maxerickson 5y agoIn areas with less than great job markets, housing has not really exploded in value. Which hey, they have less than great job markets. But there are lots of small to medium employers with solid jobs in most of those markets.
- wyclif 5y agoThat's why WFH is such a game changer, especially if you have a tech job.
- lumost 5y agoThis doesn’t necessarily mean housing is more affordable. If incomes are 1/4th SF and housing is 1/4th the price of SF then housing is still utterly out of reach for most people.
- maxerickson 5y agoI mean, I live in an area like that and for the jobs I'm talking about, housing is affordable. Median household income here is about 70% of the national median, there's decent houses available for $125k (and nicer stuff available as you go up from there).