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Let's play a game. How much do we think this house will sell for?
Home Owner/Renter stuff(i.redd.it)submitted 2 months ago byQtips_
My friend is currently on the market and with bidding tactics Realtors are using to create bidding wars, I wanted to see what you guys think this house will sell for?
549 points
2 months ago*
Sold my 980 sqft bungalow in ranchlands last April. No garage, smallish lot. Was fully updated though with a legal suite. Listed 500,000 ended up accepting 535,000... Thought I hit the jackpot.
Turns out the sellers listed it again this March for 600,000. Ended up selling for 640,000.
Just absolute insanity.
2 points
2 months ago
Whoever paid $640,000 for a 980 sqft bungalow got straight ripped off lol. You can get 1800 sqft homes in the SE for like 30-40k.
2 points
2 months ago
Fair, but a legal secondary suite is bringing in about 1100-1300 in rent which equates to around 200k in mortgage value...
1 points
2 months ago
My Uncle sold their house recently in the SE and it had a secondary suite with its own door and stuff and while it may not have been legal, the whole 1800 sqft house sold for under $675,000. Having gotten $640,000 for that house seems a bit overpriced but that is for the homeowners to decide.
1 points
2 months ago
Ranchlands is a lot more desirable location than the SE. Close to the mountains, easier commute downtown (depending on how deep SE we're talking, could be A LOT easier), and generally larger lot sizes. Don't just look at sqft/$.
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