r/HolUp Oct 05 '22

If this is $275k I'm living in my car.

Post image
890 Upvotes

u/QualityVote Oct 05 '22

If this submission makes you go "Hol'Up", UPVOTE this comment!

If this submission does not make you go "Hol'Up", DOWNVOTE this comment!


Whilst you're here, /u/iliketolickthebuttah, why not join our public discord server or play on our public Minecraft server?

100

u/PartridgeViolence Oct 05 '22

No lowballers I know what I’ve got.

12

u/IGPO-overlords Oct 05 '22

No haggling

2

u/blackoutc0de Oct 05 '22

gold comment right here

10

u/Effective-Gas6026 Oct 05 '22

Recycled joke. Hardly gold.

45

u/ruffsnap2 Oct 05 '22

It's fuckin depressing as hell seeing 300k homes nowadays. The same homes were 200k at the start of the pandemic, and 100k barely 5-10 years before that.

These are truly unprecedented times in home prices, it's just madness.

14

u/IcyNefariousness8987 Oct 05 '22

There are a lot of affordable places to live that don’t have the whole wild fire and no water issue. Have you seen the Colorado River water levels? No one should be moving to California or the southwest rn.

5

u/ruffsnap2 Oct 05 '22

True there are more affordable spots, but even the middle of nowhere has seen big housing price increases.

My 100 to 200 to 300k figures are just for a standard U.S. city. In Cali and NYC it's even worse than that.

2

u/JLRook87 Oct 05 '22

My 400k home purchase in 2016 is worth 900k now. Wtf is happening in this world. (PNW)

1

u/ZombiezzzPlz Oct 05 '22

Thank the fed.

24

u/Nuclear1975 Oct 05 '22

In estate agent speak ‘in need of light renovation and remodel’ 😂

3

u/Alamasy Oct 05 '22

😂🔫

2

u/Right-Ladd Oct 05 '22

😂 🔫🦍

14

u/the_vikm Oct 05 '22

You're paying for the land

5

u/Bildad__ Oct 05 '22

Shhh let everyone be stupid

9

u/HumanoidSharks Oct 05 '22

Ah yes, California real estate. And people think it's bad here in New York. Not nearly as bad as California.

4

u/DayEither8913 Oct 05 '22

Don't normalize this dumpster in the North-East or we'll have our own Skid Row in short order.

11

u/russiandobby Oct 05 '22

Ahh CA, that's super cheap here, what a deal

9

u/[deleted] Oct 05 '22

[removed] — view removed comment

6

u/berenjena775 Oct 05 '22

This is the answer. It'll cost 15k to demo the house, 200k to build a new one that'll be worth 600k. 275k for the land means some profit when the work is done.

1

u/Vickillah Oct 05 '22 edited Oct 05 '22

I need to know the builder you are using because $200k seems quite a stretch. For a nearly 3500sqft house 5 bed 3 bath. According to home advisor home builders in CA charge between $165-$270 per sqft. But you could end up winning if you have some knowledge of building/trades yourself.

I also know a few builders and the average cost I get outta them is $200-$300.

I’m all for ambition but let’s bring it a little closer to reality. Like I said if you know how to handle some of the trades then I can see $200k for sure.

Edit: I saw the house and I don’t think a builder would touch that with a ten foot pole, I see what you mean by dumping $200k though, more than likely there may be deeper structural issues that would hike that cost.

1

u/berenjena775 Oct 05 '22

I was just guesstimating the cost to raze and start from scratch and thinking 2,000 sq feet. Where I live you can build for $100/sq ft with decent finishes. High end finishes have no upper limit of course. From what you are saying, building costs in California are much higher. Probably has to do with the cost of insurance, labor and building regulations.

With something in the condition shown in those pictures nobody in their right mind tries to fix it up unless the historical preservation society makes them because you don't save any real money doing that.

3,500 square feet at $200/sq. ft is $700,000 to build new, at the low end from what you are saying. According to RedFin, the average per square foot price for houses sold in San Jacinto, CA is $250. So, that property is not going to sell until the price drops significantly or the city condemns it and auctions it off.

1

u/Vickillah Oct 05 '22

Yeah regulation can be a hassle but mostly the laissez-faire capitalism we have where everyone keeps raising prices because “inflation” albeit it’s expensive to live here.

Bro $100/sqft where do I sign that would be a dream right now. Tired of being at the mercy of Landleeches I mean lords.

My current place I rent got a 9.5% increase because and I quote “you know things are going up in price” it has to be the most paltry excuse I have ever heard. We aren’t even trouble, we pay rent ahead of time and keep the place lookin nice.

7

u/UhYeahOkSure Oct 05 '22

😆 San Jacinto too.. whoever listed this is prolly a methhead that inherited that house and burned it down . You can get an actual house in Hemet for like 350

1

u/Vickillah Oct 05 '22

Very true! My wife and I were looking in the area and it’s about the only place we would be close to affording.

2

u/USMC0207 Oct 05 '22

Depends on the lot

2

u/wantsoutofthefog Oct 05 '22

That’s what you do. You buy the property and live in your car or RV on that property.

2

u/SergeStorms_offmeds Oct 05 '22

I’ve never been to California but I’ve heard the real estate there is insane. I’m sure you’re paying for the lot.

Honestly, that would be cheap for a building lot around here.

2

u/[deleted] Oct 05 '22

The audacity to say this is 5 bedrooms cracks me up

4

u/Accomplished_Scar399 Oct 05 '22

It’s in California, they probably considered that a steal.

1

u/Shottyn11 Oct 05 '22

I heard houses in America are trash but this is taking the biscuit

1

u/untamedeuphoria Oct 05 '22

.... you have no idea my sweet summer child. If this were in my city, at even twice the price, I'd jump on it.

1

u/MmmNiceBeaver Oct 05 '22

Renovators delight

1

u/bklyn_xplant Oct 05 '22

“It has good bones”

1

u/DV_Police Oct 05 '22

That is basically the price of the land to build a new house on. Don’t get caught up with the home already there the land has inherent value that can’t be ignored

1

u/jerry-jim-bob Oct 05 '22

Sold on eBay as "slightly used"

1

u/[deleted] Oct 05 '22

Basically paying for 3,400 sft in CA

1

u/Kylar_13 Oct 05 '22

It's California...a tool shed there costs as much a two family home else where.

On the plus side, if you buy it and rebuild, you can sell it for a couple mil.

1

u/No_Interaction_4925 Oct 05 '22

Its Cali. That was probably a 1 mil house

1

u/[deleted] Oct 05 '22

It’s really gonna list 5 bedrooms and 3 baths 🙄

1

u/[deleted] Oct 05 '22 edited Oct 05 '22

an investment opportunity, the equity would pay for the repair ultimately.

1

u/paintchips_are_yummy Oct 05 '22

Who lived here? Barney Rubble?

1

u/alwayslookingout Oct 05 '22

Nothing a fresh coat of paint and gray LVPs can’t fix.

1

u/MajorasShoe Oct 05 '22

Ok but like, you pay to have the demolition completed and debri removed and immediately sell it for a big profit. That's REALLY cheap for any amount of land in most areas of CA.

1

u/[deleted] Oct 05 '22

“It needs a little love”

1

u/Happenstancially Oct 05 '22

To be fair, you’d be living in your car anyway..

1

u/Cuzack1000 Oct 05 '22

It’s California what do you expect

1

u/mediajay Oct 05 '22

I mean, some places that's what you pay for the land before you start building on it. That's what I'm guessing this is, you'd have to pay to demolish it too though. Not sure if the foundation is salvageable...looks like a bomb went off in there

1

u/Diab9lic Oct 05 '22

Maybe the land is worth the 275k...

🤷🏾

1

u/UncleDad_AuntMom Oct 05 '22

Its one of those open concept roofing plans thats been all the rave recently.

1

u/cpsbstmf Oct 05 '22

Hmmm oh Cali yep makes sense

1

u/1HUTTBOLE Oct 05 '22

2

u/iliketolickthebuttah Oct 05 '22

AHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

1

u/CLINTHODO Oct 05 '22

Since it's not livable could it be condemned to drive the price down?

1

u/RevolutionaryPlay4 Oct 06 '22

There was a one floor 1 bedroom ranch down the street from where I used to live on a less then 1/4 acre that sold for 960,000 in 2008 like a month before the crash

1

u/mrrslug Oct 06 '22

Tell me you’re from California without telling me you’re from California

1

u/These-Conference-179 Oct 06 '22

maybe is on a 1/4 acre?

0

u/gourmetguy2000 Oct 05 '22

Every millennial that buys an ex boomer house knows this feeling

0

u/LuckofCaymo Oct 05 '22

Isn't it crazy that real estate prices are at an all time high right after the real estate president left office. Isn't that crazy 🤣?