Sanding our assholes with 150 grit. Slowly. Lovingly.

Any CoT real estate experts?

so a builder/developer chap has bought out a decent block of land behind our house to build a bunch of mcmansions with tiny yards on, and has just recently expressed interest in purchasing our house as well.

obviously I want to suck every cent of his profit from his wallet and trip-trip merrily away giggling with satisfied greed.

so, how do I find out what he is willing to pay?
Permalink pondBacterium 
July 31st, 2007 3:22pm
Start with a Ridiculously High Number?
Permalink Send private email Flasher T 
July 31st, 2007 3:26pm
Nah, that'll show he's ignorant.
Permalink Rick Zeng 
July 31st, 2007 3:28pm
actually he is going to make the first offer.

he suggested that we get the place valued, and he would base our offer on that.

my first instinct was to giggle and point out that the actual value of the place is entirely orthogonal to what we would charge for it in this situation.

luckily I was able to suppress that particular smug, unpleasant instinct.

so Im looking for that magic trick that will make him offer 13x the actual reasonable price.
Permalink pondBacterium 
July 31st, 2007 3:30pm
Does your property include an island?
Permalink ogre henchman 
July 31st, 2007 3:32pm
If you pay me a commission of 1/2 of the selling price, I can tell you the secret trick that will get him to pay you way too much.  Shall I send you a fee agreement?
Permalink Send private email Ward 
July 31st, 2007 3:32pm
yes ward, that sounds really good, thanks*






* no. DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE DIE
Permalink pondBacterium 
July 31st, 2007 3:35pm
>> he suggested that we get the place valued, and he would base our offer on that. <<

That's the same thing as your naming the first price.  Bad negotiation strategy.

Get the valuation, add some percentage, and tell him "This is the price.  Take it or leave it"

BTW: He's certain to do a tear-down on your house & replace it with additional McMansions (you can get 2, sometimes 3 mini-mansions on older larger-sized lots).
Permalink xampl 
July 31st, 2007 4:31pm
These numbers are usually inflated, but might be a decent starting point:

www.zillow.com
Permalink xampl 
July 31st, 2007 4:31pm
Well, the American housing market is a 'Buyer's Market' right now -- the days of "ridiculously easy credit" are over, and we're down to "almost easy credit".

And the housing pricing bubble is deflating, too, with losses of 10% not uncommon.

But apparently in New Zealand stuff is booming.  Well, OK, so go to a local Real Estate agent, ask them for comperables for your house, and for the house you want to move into -- you DO have to live somewhere, right?

Then factor in how much you want to be paid for how much pain in the butt it's going to be to move, to get a new loan yourself.  Decide how much "increase in equity" in your old place you're going to 'roll in' to your new place -- probably all of it?

Then go for it.
Permalink SaveTheHubble 
July 31st, 2007 4:54pm
xampl: inflated, really?  I find that homes in my area are selling 20k more than zillow's estimate in many cases.
Permalink the great purple 
July 31st, 2007 4:55pm
Who wants to bid on the waterfall?
Permalink heartsheep 
July 31st, 2007 4:58pm
OOH!  That's right, if wSV goes, so does the waterfall.

On the other hand, if they dam that sucker to produce power, it's going to make a lake SOMEWHERE.  Might as well clear that eyesore that is wSV's house to make room for it.
Permalink SaveTheHubble 
July 31st, 2007 5:00pm
zillow thinks Robert A. Heinlein's round house in Santa Cruz is worth $800,000 to $1.1 million.

http://www.zillow.com/HomeDetails.htm?zprop=16149042
Permalink Send private email Ward 
July 31st, 2007 5:22pm
"That's right, if wSV goes, so does the waterfall. "

heh.  nah, the waterfall is on a completely different piece of land many miles away.

I would _never_ sell the waterfall.  that would just be silly.


"That's the same thing as your naming the first price.  Bad negotiation strategy. "

interesting, I hadn't noticed that but you are right.


"BTW: He's certain to do a tear-down on your house & replace it with additional McMansions (you can get 2, sometimes 3 mini-mansions on older larger-sized lots)."

yep, thats basically the plan.  looking at the plans I _think_ it may even stretch to 3 additional mcmansions with area of about 400m2 once he places it with the land directly behind it.
ie, according to the plans he showed us currently he has 2 lots planned in a line directly behind ours at 660 and 560 m2 respectively.  he was talking about 400m2 lots though when we met...our place is about 800m2 so put the 3 together and you have about 2000m2 which by my calculations might work out at around 5 lots of 400m2 depending on room set aside for access etc.

which is maybe 3 additional lots.

he was talking about selling for 350-400k each, so that is a potential difference of around $1million.

if Im right.
Permalink pondBacterium 
July 31st, 2007 5:54pm
I wouldn't sell if he's building mcminimansions.

If they were duplexes, it may be a different story.

I think your value will go up more staying than you will end up getting out of whatever premium you choke out of him. Unless it's a super-inflated price tag, I wouldn't bite.
Permalink Send private email JoC 
July 31st, 2007 6:03pm
I've seen this before, and it could turn nasty - he gets the heavies out to you, ridiculous things happen, kidnaps members of your family, plus he's bought the police so they dont do anything about it, etc, etc.

You do know the number for the A-Team right?  They're experts at this, practically every second episode.
Permalink Scott 
July 31st, 2007 6:14pm
Valuations are conservative so ask a few estate agents what the property would be worth to a developer[1] and take the highest if it's astonishing.

The add 25% - he knows you will want to get out before he starts so give yourself some wriggle room.

[1] The two blocks are worth more to a developer together than individually.

Bonne chance.
Permalink trollop 
July 31st, 2007 6:14pm
Think of the immense joy and spite you could harness by holding out after all the other mini-mansions have been built.

You could let your grass grow a little too long, paint your garage the "wrong" color.

Put up ultra-lefty sign boards.

Oooh. I'm getting all warm and fuzzy just thinking about all the well-being you could negate.
Permalink Send private email sharkfish 
July 31st, 2007 7:55pm
Do you actually want to move? What would it cost to move to a place where you can live the same lifestyle?

What the house is 'worth' on the market is irrelevant to you in these sort of situations. Either he pays you enough to make you happy to leave, or you both make each other's lives hell as you battle it out, then he gets the government to seize your property in an eminent domain motion, then you track down and murder every member of the fucker's family by cutting off their heads, but his dog you impale on a stick.
Permalink Practical Economist 
July 31st, 2007 8:06pm
he wouldn't do that to Mamie.
Permalink heartsheep 
July 31st, 2007 8:14pm
"You could let your grass grow a little too long, paint your garage the "wrong" color. "

heh heh heh.  actually Im _already_ that kind of land owner.  I _love_ large yards but dont get much pleasure out of gardening or maintenance.
I do get real joy from growing stuff.  unfortunately for everyone else I like the growing more than the gardening so it is most cost effective for me to just let everything grow...
everyone once in a while I mow the lawns, trim the grapes and spend a bit of time killing the larger patches of blackberry and poisonous weed crap that the girls might decide to swallow.

"Put up ultra-lefty sign boards. "

..that actually wouldn't achieve much, NZ is mostly a pretty lefty country and even those parts that aren't dont _really_ care either way. 
the backlash when someone recently set fire to the flag was almost immediately offset by an even bigger, scarier backlash when it looked as if the politicians might actually try and 'fix' the problem by making it illegal.

"Oooh. I'm getting all warm and fuzzy just thinking about all the well-being you could negate."

I like the bad neighbour idea, I think Ill run with it.  its especially nice since that is my inclination anyway.

I think Ill take down the high fence currently separating me and that side...
Permalink pondBacterium 
July 31st, 2007 9:47pm
"Do you actually want to move? What would it cost to move to a place where you can live the same lifestyle? "

yeah, I wouldn't mind.  this house is just a bit small and a bit cold during winter.

to make it worthwhile we would have to be moving to a noticeably bigger and warmer place...twould benefit the girls as they get a bit of asthma.

"Either he pays you enough to make you happy to leave, or you both make each other's lives hell as you battle it out, then he gets the government to seize your property in an eminent domain motion, then you track down and murder every member of the fucker's family by cutting off their heads, but his dog you impale on a stick."

I think Ill sidebar this, you are one of the rare few with a genuinely poetic soul PE.
Permalink pondBacterium 
July 31st, 2007 9:48pm

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