Bargain mansions in Palmer Woods

[davewindsor]

Jesus fucking christ... for the last time, it doesn't matter what you think they are "worth", the people that are drawn to these home and neighborhoods "value" this type of home's characteristics and they can get the homes in Detroit for less money than they likely can be had in any of the suburbs with homes of similar vintage...ergo, IT'S A BARGAIN TO THEM.

The same way it would be a "bargain" for the guy in your example to pay 100 bucks less than he was willing to for the tickets. Is it more than you would pay? clearly...because you are are apparently miserly old crotch. but, holy shit, why is this a difficult concept for you to grasp? what is a "bargain" and what has "value" is subjective. That is the sole and only point here.

what a waste of a thread.

It's still not a bargain. You may pay less for housing because the land is cheaper, but you're disposable income is also less after paying higher taxes, insurance, deducting your loss from theft, settling for a lower salary than a more prosperous city, etc.

[bailey]

It's still not a bargain. You may pay less for housing because the land is cheaper, but you're disposable income is also less after paying higher taxes, insurance, deducting your loss from theft, settling for a lower salary than a more prosperous city, etc.

omfg. "subjective" ... go look it up, attempt to understand how it would be used in this context. I'm done responding to your willful and aggressive ignorance.

[davewindsor]

omfg. "subjective" ... go look it up, attempt to understand how it would be used in this context. I'm done responding to your willful and aggressive ignorance.

OMG if you pay market price for something sold on the "open market", it's not a bargain. You're taking "subjective" to a delusional level.

[Richard]

OMG if you pay market price for something sold on the "open market", it's not a bargain. You're taking "subjective" to a delusional level.

The discussion is about a house not a piece of tile at the flea market,so Fair value & Fair market value would apply ,which is what they are explaining.

I kinda disagree or think a bit different when it comes to vintage houses as rentals.

Hardwood floors = Hard for tenant to mess up and cheaper per sqft to replace then carpet or tile.

Cast iron claw foot tubs,cast iron ped sink in bathroom,cast iron farm or double drainboard sink in kitchen extremely hard to mess up.

Plaster walls = hard to drive nails into and even harder to punch a hole onto.

Your clientele appreciates these things and respects them so they take care of them verses that HD mills pride cabinet that falls apart when it sees water.

You deal with a different class of tenant period.

Glass gets broken which will happen on occasion which is a pia if it is pwavy glass but easy enough to replace when compared to double glazed.

Best of all is you can buy old stuff or salvage cheap and it matches.

Anyways,you are already off of my Christmas list for calling me a commie in another post so if you do reply to this I would need to see.

The minimum of 7 links proving or reinforcing your views or opinions which is what this is and not a pissing contest. Other then that stay warm and safe and have a nice evening.

[davewindsor]

The discussion is about a house not a piece of tile at the flea market,so Fair value & Fair market value would apply ,which is what they are explaining.

No, fair market value is what "I'm" trying to explain to them. Comprehension problem? Fair market value does not mean it's bargain priced; it means it's priced according to what it's worth.

PR69... started talking about products at a fleamarkets or "antique" markets like his flatulent tile giving the building a value of $10m+ when the fair market value of the building is $700K [[what someone is willing to pay for it).

I kinda disagree or think a bit different when it comes to vintage houses as rentals.

Your opinions about rentals are irrelevant at this point.

Your clientele appreciates these things and respects them so they take care of them verses that HD mills pride cabinet that falls apart when it sees water.

I agree with this point on cheap sink cabinets, but not necessarily for the same reason. I would buy a pedestal porcelain sink at HD or buy a solid wood cabinet over cheap particle board one any day of the week because it lasts a lot longer, obviously. New or old building. The return on investment is worth it. It doesn't cost 15 times more than a particle cabinet. You're arguing side points to try to thread jack this into something else.

The main point is whether this house is bargain priced. My argument is no, it's not; it is priced at fair market value. That is what it's worth, flatulent tiled lobbies aside [[who really cares, it doesn't make the building worth 15 times more than what it sold for).