Sunday, October 31, 2010

Two Opportunities: Part 1

I did end up putting offers in on two houses - both new, modern construction. The first was 2518 E Union St., which is still on the market for over 2 years now:

It's the house in the back. The interior is pretty open and the finishes are decent. For the most part, it does meet my minimum requirements, but there are a few problems with it.
  • It's next to a really busy street
  • The general neighborhood is transitional
  • The easement to the back house is very narrow
  • The two houses are built very close together, making use of the garages a challenge.
I think when the houses were first on the market, they were in the mid $600s. Taking the neighborhood and placement issues into account, I valued the house at around $500k and offered that much. Unfortunately, the sellers were a bit stubborn with their negotiations and gave me enough time to convince myself to back out. In retrospect, I'm glad I did. The house is now priced at below what I offered for it.

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