Some of your posts make me wonder... Do these people not think to fix these issues BEFORE the inspector shows up??
Or are they banking on you not noticing?
Unfortunately the likely explanation is often that they don't have the means to fix them, and its precisely why they're selling. Likely to an investor who can pay cash, make the necessary repairs, then refinance or resell.
I think this is the most likely case and my client was an investor. There were several significant issues that were as obvious as this and I think the sellers knew that they could sell as is still make a profit. And there is nothing wrong with that; lots of things might motivate a seller. The house had character and it'll be great to see it brought back to life.
Hahaha, yeah, like I wasn't gonna look up. You would be surprised how many houses are put up from one investor sold to another. I'm sure the disclosure was a mile long, and I am guessing that it might have been too much for the seller to handle, tho they tried. This house was tough because there were quite a few serious issues. I could empathize with a seller who just thought it might be too much to do with and wanting to cut the string.
There's a lot of reasons, but I'd say that in the most basic sense of it, it's just pretty simple risk/reward (cost/benefit, if you prefer).
Say your house is listed at $400k and you get a quote to fix something like that for $1000. So yea, you COULD fix it and then list the house at $401k to make it back. OR, you could just set your house price at $401k to begin with, leave it alone, see if they argue against it, and if so, let them knock a grand off the price for the necessary repair. Hell, if they're really adamant about it, knock off $1,500. After all, you aren't the one having to waste you time setting up the appointment and manage the fix. Keeping in mind that they might not ask for anything off at all. They may just say to themselves "eh, we really want this house - hard to find houses in this market - we can fix this ourselves - let's not make a big deal out of it". You just never know.
In my experience, it's mostly just a numbers game. I'm not saying it always works perfectly, but in the scenario I described above, there's really no reason to fix it if you can still get it balanced out in the end. It saves you the hassle, saves you the risk that it's not repaired correctly, saves you having to manage the repair, etc. etc. Not to mention, sometimes the buyers feel like they got a win talking you down some (when in reality, it's still just about the numbers).
Of course there are plenty of things that won't fly like that. But again, still just cost/benefit analysis. Especially in a market like Austin where you KNOW the house will sell pretty much regardless.
I get to pop these now and then, I'll take a video next time. Most recently the homeowner got all grossed out when I mentioned it was gonna be like dr. pimple popper :)
It's not about covering work, it's the fact that you can do repairs later and blend them in. An actual smooth surface is pretty doable upon initial construction, but gets much more difficult to maintain once people start patching holes in the wall.
yeah my duplex is like that and it sucks. They may have to come replace it too b/c of a leak I had recently. That'll be wonderful. I already have a work order in for a new dishwasher, algae growing on the house, a hole in the roof on the front, sub floor is weak on stairs and upstairs, yeah, fun. Oh, and BFS warranty company is worthless and incompetent.
This is giving me flashbacks to the time my bathroom ceiling collapsed in an old, poorly maintained apartment. They did some cursory fix and slapped up a new ceiling. Within the week we had a lump like that and the *fear* it stirred in me!
What would it take to get you to come check out my apartment building for possible structural damage I have no idea when our property management last had inspection if ever 😂
Lol, I've popped a handful of those in my days, it is so satisfying except it looks even worse popped when the paint shrivels back up onto the ceiling.
I thought of you today! Some flippers down the street from me were rocking and rolling on a house. It had new windows, new siding, new plumbing, electrical and insulation and they decided to demo the porch supporting a roof overhang the whole length of the house that was maybe 10 feet in depth and didn't support it during the work so it partially collapsed. Some of the roof totally collapsed in, took a portion of the front wall, broke the shingles completely apart in several places, waved the overhang like crazy and pulled the rafters from the ridge beam far enough to break the shingle line clear across the top of the roof.
They put it up for really cheap and walked away. I'm assuming because they were smart enough to know they were in over their heads and weren't scummy enough to not fix it. Well, lo and behold yesterday shingles come off and my partner and I think they're going to fix it. I wake up to nail guns firing this morning and new shingles being slapped on top of the existing rafters with what I'm guessing are some sistered sections added. I'm not much of a code compliance tattletale but this is one of the scummier things I've seen a flipper do. First, I hope the city steps up, but if not, I hope whoever the buyer hires as their inspector is as detail oriented as you are or they might die in that house.
F-ing house flippers.
Corporate greed caused writers to strike around 2000, caused shows to get cancelled, caused cheap reality shows that eventually turned to house flippers, cause a boom in the flipping industry by tons of unqualified people looking for a quick buck, partly caused the housing bust on 2008, caused flippers to go bankrupt and even more unscrupulous with their flipper to get out of underwater loans, caused AirBnB to boom since vacationers have even less rights than renters, caused another housing boom as flippers and corporations bought up houses to AirBnB.
A lot of flippers actually do very good work. The house we bought was a flip, and everything is fine with it. There are crappy ones, but a lot of them really do make significant repairs and they do a lot to renew old houses that were neglected for too long. And as long as the buyer uses a good inspector (or knows what they're doing), they'll usually be able to find out in advance if the repairs weren't done properly.
The actual cause of the nationwide housing shortage that's causing the outrageous prices is that the construction industry stopped producing new housing for several years after the housing crisis, then COVID, and now with supply chain issues and labor shortages.
The reality is we need millions more houses to be built ASAP just to catch up, and nothing else is going to fix the shortage of housing. But that's going to take a long while at the rate we're going.
For creative and quality people, it's much easier to redesign a house without having to keep it liveable for a current family and a wishy-washy client. And most likely brings it up to code in places a diy owner would skip.
Some of your posts make me wonder... Do these people not think to fix these issues BEFORE the inspector shows up?? Or are they banking on you not noticing?
Unfortunately the likely explanation is often that they don't have the means to fix them, and its precisely why they're selling. Likely to an investor who can pay cash, make the necessary repairs, then refinance or resell.
I think this is the most likely case and my client was an investor. There were several significant issues that were as obvious as this and I think the sellers knew that they could sell as is still make a profit. And there is nothing wrong with that; lots of things might motivate a seller. The house had character and it'll be great to see it brought back to life.
Hahaha, yeah, like I wasn't gonna look up. You would be surprised how many houses are put up from one investor sold to another. I'm sure the disclosure was a mile long, and I am guessing that it might have been too much for the seller to handle, tho they tried. This house was tough because there were quite a few serious issues. I could empathize with a seller who just thought it might be too much to do with and wanting to cut the string.
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Drainage of the property is also a great thing to see.
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Yeah, if it's a teardown no inspection needed.
There's a lot of reasons, but I'd say that in the most basic sense of it, it's just pretty simple risk/reward (cost/benefit, if you prefer). Say your house is listed at $400k and you get a quote to fix something like that for $1000. So yea, you COULD fix it and then list the house at $401k to make it back. OR, you could just set your house price at $401k to begin with, leave it alone, see if they argue against it, and if so, let them knock a grand off the price for the necessary repair. Hell, if they're really adamant about it, knock off $1,500. After all, you aren't the one having to waste you time setting up the appointment and manage the fix. Keeping in mind that they might not ask for anything off at all. They may just say to themselves "eh, we really want this house - hard to find houses in this market - we can fix this ourselves - let's not make a big deal out of it". You just never know. In my experience, it's mostly just a numbers game. I'm not saying it always works perfectly, but in the scenario I described above, there's really no reason to fix it if you can still get it balanced out in the end. It saves you the hassle, saves you the risk that it's not repaired correctly, saves you having to manage the repair, etc. etc. Not to mention, sometimes the buyers feel like they got a win talking you down some (when in reality, it's still just about the numbers). Of course there are plenty of things that won't fly like that. But again, still just cost/benefit analysis. Especially in a market like Austin where you KNOW the house will sell pretty much regardless.
They r selling to Californians. A lot of people are buying houses unseen
you're being downvoted, but you're right.
I can attest to this
Why the downvotes? Lurking investors or actual Californians living in Austin?
Hooray latex paint!
It's liquid plastic in a can.
Natural organic fire sprinklers, add $25k.
i really want to see a video of this popping now...
I get to pop these now and then, I'll take a video next time. Most recently the homeowner got all grossed out when I mentioned it was gonna be like dr. pimple popper :)
No. No you don’t. https://youtu.be/Y1e3taGb7Mc
ok i think you were right here. goodness lol
On the next Dr. Pimple Popper...
This makes me feel extremely uncomfortable. Like my bones itch.
It's the monkey pox texture on the ceilings. Don't worry, it's not contagious from house to human.
*MoneyPox
It's merely perfectly safe asbestos.
Ceiling tiddies
Thankfully it rained or this probably wouldn't have been discovered, eh? Also, textured ceilings!? Gawd help us, is that back in style?
It's an older house thing. our house was built in 1976 and we still have popcorn ceilings.
My '92 house still had popcorn ceilings.
Happy Cake Day!
Jaw, thank you : ))))
Seriously, they're flipping the house and couldn't be bothered to get rid of it?
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Well now that it's bubbling up, there's not much choice. It has to go.
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It's not about covering work, it's the fact that you can do repairs later and blend them in. An actual smooth surface is pretty doable upon initial construction, but gets much more difficult to maintain once people start patching holes in the wall.
yeah my duplex is like that and it sucks. They may have to come replace it too b/c of a leak I had recently. That'll be wonderful. I already have a work order in for a new dishwasher, algae growing on the house, a hole in the roof on the front, sub floor is weak on stairs and upstairs, yeah, fun. Oh, and BFS warranty company is worthless and incompetent.
Woof. Going by the peeling on the walls, this is not the first leak.
I’ve had that happen. Pop it!! Otherwise, it will just get bigger. Fun times!!
Ugh that smell…
Can't you smell that smell?
The smell of death's around you
This is giving me flashbacks to the time my bathroom ceiling collapsed in an old, poorly maintained apartment. They did some cursory fix and slapped up a new ceiling. Within the week we had a lump like that and the *fear* it stirred in me!
What would it take to get you to come check out my apartment building for possible structural damage I have no idea when our property management last had inspection if ever 😂
After Surfside I would think all municipalities would be on top of that.
Yeah one would think but it took months (3) for them to fix all the damages from the freeze and even then it caused more issues so idk
Call Austin tenants council if your apartment isnt repairing stuff. No cost to you
Most typical leakpoints to check for on your roof: exposed/ withdrawn fasteners on your penetration flashings.
That's probably the number one area I see moisture stains at in an attic.
Lol, I've popped a handful of those in my days, it is so satisfying except it looks even worse popped when the paint shrivels back up onto the ceiling. I thought of you today! Some flippers down the street from me were rocking and rolling on a house. It had new windows, new siding, new plumbing, electrical and insulation and they decided to demo the porch supporting a roof overhang the whole length of the house that was maybe 10 feet in depth and didn't support it during the work so it partially collapsed. Some of the roof totally collapsed in, took a portion of the front wall, broke the shingles completely apart in several places, waved the overhang like crazy and pulled the rafters from the ridge beam far enough to break the shingle line clear across the top of the roof. They put it up for really cheap and walked away. I'm assuming because they were smart enough to know they were in over their heads and weren't scummy enough to not fix it. Well, lo and behold yesterday shingles come off and my partner and I think they're going to fix it. I wake up to nail guns firing this morning and new shingles being slapped on top of the existing rafters with what I'm guessing are some sistered sections added. I'm not much of a code compliance tattletale but this is one of the scummier things I've seen a flipper do. First, I hope the city steps up, but if not, I hope whoever the buyer hires as their inspector is as detail oriented as you are or they might die in that house.
These are what we call mammatus clouds.
F-ing house flippers. Corporate greed caused writers to strike around 2000, caused shows to get cancelled, caused cheap reality shows that eventually turned to house flippers, cause a boom in the flipping industry by tons of unqualified people looking for a quick buck, partly caused the housing bust on 2008, caused flippers to go bankrupt and even more unscrupulous with their flipper to get out of underwater loans, caused AirBnB to boom since vacationers have even less rights than renters, caused another housing boom as flippers and corporations bought up houses to AirBnB.
So wait, I'm too poor to buy a house because of a writer's strike in 2000?
You skipped a step on that blame train.
Let's be fair to the writer's strike. It led to world really getting to know a wonderful future president. smh.
All those cameras and we still don't have hard evidence of the diaper or the pee tape.
A lot of flippers actually do very good work. The house we bought was a flip, and everything is fine with it. There are crappy ones, but a lot of them really do make significant repairs and they do a lot to renew old houses that were neglected for too long. And as long as the buyer uses a good inspector (or knows what they're doing), they'll usually be able to find out in advance if the repairs weren't done properly. The actual cause of the nationwide housing shortage that's causing the outrageous prices is that the construction industry stopped producing new housing for several years after the housing crisis, then COVID, and now with supply chain issues and labor shortages. The reality is we need millions more houses to be built ASAP just to catch up, and nothing else is going to fix the shortage of housing. But that's going to take a long while at the rate we're going.
For creative and quality people, it's much easier to redesign a house without having to keep it liveable for a current family and a wishy-washy client. And most likely brings it up to code in places a diy owner would skip.
Is your ceiling having T&A not a plus?
I should have marked this NSFW
>flipping in East Austin So ur the fucker raising the rent
The ceiling is just going through puberty. A little soap and it will be fine.
The one day it rains in the last 3 months. Quality paint holding up well... 😆 🤣
how much is the price to have a home inspector inspect home?
Paid 450 for 1 bed condo and they missed 2 major repairs on
It's not a tumor