# Decorative or not?



## Daniel Holzman (Mar 10, 2009)

You undoubtedly are going to have your independent inspector who is working for you look at what appears to be a pretty expensive house before you put in an offer. That would be a very good time to ask them to examine the load bearing status of the walls you are thinking of removing. If they are uncomfortable or unable to provide that service, they may be able to recommend an engineer or architect who can look at the building and discuss how the load is carried. Relying on an internet chat forum seems like a bad idea when it comes to such a high value purchase, and photos can be very difficult to interpret.


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## tarraha (Mar 5, 2012)

LOL, does it look that fancy? Its really not, but you may have just sold me! :laughing: The asking price is $114k, CMA report shows nothing in the area selling for over $98k, so I'm considering an offer of $105k.

The market in my area right now is crazy with buyers, I really dont have time to hire an inspector or anyone else to look at it beforehand - houses here are put up on the market Friday and gone Monday. So I'll have to put an offer in by EOD today. Of course there will be an inspection that the sale is contingent on, but that'll be after the offer is placed. The beams are not necessarily a make or break on the house, I can live with them, I just think it'd look alot better without them. And of course the kitchen remodel would involve professional help so I can look at that later down the road.


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## yummy mummy (Sep 11, 2006)

May I ask where you are located to have homes selling for that price?

I think I am going to move......lol I am leaving Toronto, Ontario Canada....lol


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## tarraha (Mar 5, 2012)

Haha, I know you folks in the north are used to getting 1200 sq ft for $ 200k or some other ludicrous price, right? The homes I'm looking at are in the Arlington & Grand Prairie, TX area, which are suburbs of Dallas. Dallas has actually done a great job at staying petty level in the real estate market. I believe its actually a sellers market right now, but even still, the prices per footage are still so much better than most other major cities. Price per sq ft averages around $ 65, for newer homes (1995-present), and the average total sq footage is 2000. The house I posted was 1693 sq ft but the neighborhood is really nice & after the market here recovers from the little slump we did experience, it'll be quite easy to turn a decent profit in several areas. You should come on down & start using words like "y'all" and "ain't" - the market will make up for the horrible southern drawl, hehe.


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## creeper (Mar 11, 2011)

114k in the Toronto area. ?? You couldn't even buy a swamp for that. 200k ...still a joke

For the house you are planning on buying 400 to 600k depending on the neighbourbood. Thats in the city. If you drove an hour or two you could probably pick that up for around 350k.

Its also a Sellers market here. 
16k over the lifetime of your mortgage is peanuts. You snooze you lose!

Congrats on your first home. It looks very nice. Good call on opening up the kitchen/ dining area. Make sure the reno gets done properly


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## alisanke (Mar 3, 2012)

If the houses in the area are not selling for much more than 100k then I would be concerned about investing in a pricey kitchen reno. You might build a house too fancy for the location and not get a return on your investment.


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## user1007 (Sep 23, 2009)

tarraha said:


> Haha, I know you folks in the north are used to getting 1200 sq ft for $ 200k or some other ludicrous price, right?


Was ludicrous the word you meant? You seem nice in the pics. 

Really want to make fun of us Northerners?


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## yummy mummy (Sep 11, 2006)

OK, I'm moving. If I sell my home, I may be able to buy the whole block in your area.........lol


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## tarraha (Mar 5, 2012)

@creeper, that really sucks, I'm sorry to hear that its that crazy there. For those prices, is the median income in the millions??? I know the pay is bigger everywhere else compared to the south, but I don't think its so drastic that it justifies spending that much on a home, which is sad. And thank you on the congrats! 

@alisanke, that was a concern I had as well. But since the original post I actually have found a different home that I submitted an offer on today. Its newer, bigger, cheaper listing, and in the same schools. But even still, I was just planning on taking out that wall, putting in a countertop, updating those, new flooring & refinishing the cabinets, which aside from the wall, are all pretty basic upgrades we see in this area. Thank you for your concern though!

@sdsester, I'm sorry if I offended you, that certainly wasn't my intention. I wasn't making fun of anyone, just commenting on my views of the real estate market in the north. Its baffling to most down here that have never been or lived up north, how something as basic as a home can be so outrageously expensive. I get that space is limited & the population is dense, but it doesn't make sense to me (and again, most here) to stay under those conditions when there are other viable cities to migrate to that don't have that restriction. Just my opinion though.

@yummy, come on down, I'll give you a big welcome "Howdy!!!" when you move in : D


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## user1007 (Sep 23, 2009)

tarraha said:


> @sdsester, I'm sorry if I offended you, that certainly wasn't my intention. I wasn't making fun of anyone, just commenting on my views of the real estate market in the north. Its baffling to most down here that have never been or lived up north, how something as basic as a home can be so outrageously expensive. I get that space is limited & the population is dense, but it doesn't make sense to me (and again, most here) to stay under those conditions when there are other viable cities to migrate to that don't have that restriction. Just my opinion though.


Honey, I am almost too old to be offended by anything anymore. This post of yours was one of the best written PR pieces I have read in ages. :laughing::laughing:

GCB IS MY NEW FAVE SHOW. As you know, it has a real estate agent as a star. And a mother from Heck about going to church. 

Once I spent a summer milking goats. I wore a cap not a ten gallon. And it was not Crawford, TX. Shoreline is closing down on "Kennibuckport" too. I have heard, if the matriarch can find the attachments for the central vacuum system and learns to read a tide chart, property can be had for your price point.

Send me real estate listings. 

Property way farther than me in the North, can be had for the price point you floated.


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## user1007 (Sep 23, 2009)

yummy mummy said:


> OK, I'm moving. If I sell my home, I may be able to buy the whole block in your area.........lol


You cannot move yet. :laughing:


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## creeper (Mar 11, 2011)

sdsester said:


> You cannot move yet. :laughing:


Yummy Mummy's house will sell in a week


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## creeper (Mar 11, 2011)

tarraha said:


> @creeper, that really sucks, I'm sorry to hear that its that crazy there. For those prices, is the median income in the millions??? I know the pay is bigger everywhere else compared to the south, but I don't think its so drastic that it justifies spending that much on a home, which is sad. And thank you on the congrats!
> D


Yes, the prices are comparatively high, which can make it difficult for first timers to break into the RE market/game, but on the other hand in these areas the homeowner enjoys not only the fact that the property will sell quickly, but the return on investment is huge if owned for a length of time. Say you your home is worth 800,000- 1,000,000 (which is probably on target for an individual in this thread who shall remain nameless)

That same property could have been purchased for 3-400,000 just ten years ago. Considering you need a roof over your head regardless, I'd say that is a pretty amazing way to make over half a million dollars.


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## yummy mummy (Sep 11, 2006)

Yes, I could sell this property in a week.

I bought this property 15 years ago, for $240K. I should have bought 2....lol

Gutted and put on an addition about 6 years ago.
I could probably sell for $l.3M 

I wish I liked the suburbs......But we are city slickers......

Not moving any time soon. Though I would like to sell and purchase a knock down property and build a new house. But the challenge is finding a property for about $600K to knock down......not happening right now. 

Tarraha, I am moving into your hood when I retire.....lol I am practising my Howdy......


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## tarraha (Mar 5, 2012)

@creeper, that's true, I guess it is just getting your foot in the door that is the real struggle. I don't think about the sellers perspective I guess because I'm so tired of moving, when I finally get out of the rent game you'll have to burn the house down to get me out. But yea, your profit margins are drastically higher than ours. I don't expect to make even $60-80k when I sell..and thanks for confirming I'm not the only one that doesn't speak Gollum. = )

@yummy, lol! I understand, I grew up in LA - moving here was a huge culture shock. Inner Dallas & Ft Worth both are just now starting to vamp up their downtown areas to be the "hip urban" areas modeled after NY & the like. Its starting to catch on, condos, townhomes & apt lofts in those areas are springing up everywhere. If I didn't have a child I'd probably be there myself. But the suburbs here have most everything the bigger cities do except nightlife appeal. Only bad aspect is the commute to/from work - 45 min each way, bleh. But get that Howdy up & start saying "y'all ain't" and when you buy my block, please put in a community pool & dog park, that's all I'm asking! Buy a knock down for 600k??? I think I'm going to faint.


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## yummy mummy (Sep 11, 2006)

tarraha, I am practising my Howdy, and y'all.....

Community pool, done. Dog park, done.

tarraha, your original post has really taken a turn, sorry about that. Did you purchase the home?


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## tarraha (Mar 5, 2012)

Yay, Ol' Yeller will be so happy...

That's quite alright on the subject change, still learned something new and thats always welcome! I decided not to go with that house I originally posted about, because that night I found a listing that came up for a home that was bigger, newer build, same schools, and listed cheaper than the first. It also doesn't require any reno, love the layout, just needs upgrades. I put an offer in yesterday and hope to get good news back soon. Its nerve wracking waiting around for the answer!! Especially because this is the 3rd house I've put an offer on now, over the last 6 months, and keep getting passed up. Something will have to give soon though, as I'm now at the end of my lease and really don't want to sign another...keep me in your prayers please!!


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## yummy mummy (Sep 11, 2006)

I am sure your offer will come through today. 

Keep us posted and post some pictures, I would love to see your new home.

Take care. You are so sweet.


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