House situation

Discussion in 'Real Estate' started by mtowncyclone13, Jan 9, 2017.

  1. AgronAlum

    AgronAlum Active Member

    Jul 12, 2014
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    A stronger market for 200k+ priced homes. We were looking to build equity over a shorter time (<10 yrs). Either a moderate priced home that needed renovation or a mid-upper priced home in a fast growing area where sq footage could be added/finished. Nowhere we found in marshalltown fit that bill. I just didn't feel comfortable about the resale. I plan on completing the work myself and didn't feel there was a strong enough chance it would pay off in the end. There is absolutely no way I'd spend 250+ on a home in Marshalltown without knowing for sure it was a retirement home.
     
  2. NATEizKING

    NATEizKING Well-Known Member

    Feb 18, 2011
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    The south side is the better bet, either that or out Lincoln Way past the towers. The area between Southridge and Olive all sells quickly. I wouldn't spend over 200k either.
     
  3. mtowncyclone13

    mtowncyclone13 Well-Known Member

    Oct 10, 2012
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    isn't part of the problem the catch-22? everyone is saying they wouldn't spend over 200k which means no one updates their house, which means no one will pay more for it?
     
  4. Stewo

    Stewo Well-Known Member

    Oct 29, 2008
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    I live in this area (just west of you) and you're right that a lot of houses in that price range do sit for awhile, but I think that's because of: 1. location and 2. the house itself. We bought our house last year (after the second day of it being on the market) and there were two buyers right behind us wanting to put an offer in if ours fell through.
     
  5. NATEizKING

    NATEizKING Well-Known Member

    Feb 18, 2011
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    $200k is a pretty high price in Marshalltown. There are plenty of nice homes for under $200k, even $150k, they just aren't newly built. When we were looking, there were a lot of homes built late 70's and 80's that were renovated. I don't know too many people personally looking to buy houses over $150k, the one that was ended up building in Ames. On a side note, town houses seem to sell pretty well in town too.
     
  6. AgronAlum

    AgronAlum Active Member

    Jul 12, 2014
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    Take a look at Zillow, etc. Almost all of the 200k+ priced homes have been sitting on the market for months or are new construction. That has been the case for these houses since I started looking over a year ago. That tells me people in the 200k+ range are buying new. but even the new developments aren't seeing very fast growth. I saw probably <10 new houses go up over the summer, most of them north of menards and south of that east pond. A few of those are still sitting empty from 6 months ago.

    Marshalltown just isn't a town that demands those types of homes and the market still thinks it can demand the type of prices they see in the DM suburbs. I don't see it.
     
  7. AgronAlum

    AgronAlum Active Member

    Jul 12, 2014
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    Not quite sure where you think I live at but you're right with the rest. That's why I can't figure out what's going on in Marshalltown. The houses don't seem to be priced with condition and location in mind on the same scale you see in other areas. That's why I never saw myself getting money out of a renovation. I'm not saying there aren't good deals out there, they're just all over the map. It sounds like you found one of the good ones.
     
  8. Stewo

    Stewo Well-Known Member

    Oct 29, 2008
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    I may have misread that you lived in near me in M-town. The house we bought is a "good one" that needed a face lift. The previous owners apparently didn't have much drive to do it. I feel pretty confident that it'll sell quickly when that time comes. We just have to continue updating it first.
     
  9. aauummm

    aauummm Well-Known Member

    Mar 29, 2007
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    I'll bet that she makes very good money! Seems like she likes to change hair-do's every couple of days. I'll make sure that I step in to Maya Night Club next time I'm in Scottsdale.
     
  10. srjclone

    srjclone Well-Known Member

    Nov 17, 2014
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    Yeah, she is at the level where she (and 4 or 5 other girls) are basically the face of Maya. She (and the other select few) are the ones who come out in the mini car holding the sparklers and bottle for bottle service. She said, while I was living there a year and a half ago, that her hourly wage is basically nothing because she makes everything on Tips and Modeling for the club, as well as other modeling stuff she does. When I was there she was there the whole summer, and I moved that August, it seems ever since then she is flying to ******* Mexico/NY/LA every other weekend. Glad to see her getting a bunch of jobs. I'm not gonna act as if I ever had a chance with this girl or that we hung out with her every weekend, I had/still have a girlfriend at the time, but her and her friends from HS were fun to party with and she knew every bouncer so it was always a nice perk to pre-game with their group so we could have that luxury haha also it didn't hurt that you got to look at her all night, in the least creepy way possible haha


    Also, if you go to Maya, go to the "Day Club" it is a giant pool party inside the bar, and at night Maya is where all the biggest Guido's like to hang out, not worth it
     
  11. 1100011CS

    1100011CS Well-Known Member

    Oct 5, 2007
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    At least 3 houses on my block over $200 have sold in the last 6 months or so.
     

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