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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: coug who wrote (206239)6/6/2009 8:07:45 AM
From: Think4YourselfRead Replies (3) of 306849
 
Nice views!

is 469K reasonable for a 90 year old 1630 square foot basic wood house on 10 acres with well and septic? It seems ridiculously expensive to me but I am not in that market.

Why is the assessed square footage 400 square feet larger than the actual???

You might want to check out the winter heating bills too, especially since the furnace is hooked to propane. That house is sitting in open flatland (high convective losses) and those don't look like evergreens around it. 1930's construction implies 2x4's, which suggests R-13 max in the walls (if there is ANYTHING in the walls). The heating bills could be ridiculous, which would help explain the pellet burning stove.

Other issues with a house that old:

1. Make sure no galvanized plumbing. It should ALL be copper by now. Check water pressure. Lines to septic should be PVC, not the ancient cast iron.
2. Make sure all wiring true 3 wire. It is typical for half-a$$ed rehabbers to put in three wire outlets, and maybe even circuit breakers, but leave the old 2 wire lines in the walls. You think you are protected from electrocution but you aren't.
3. The vast majority of the rehabbers in the last 10 years were greedy wretches who couldn't even spell words like "quality" or "code". Assume everything is done wrong and/or materials are low quality. You'll be correct most of the time.
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