Real Estate Broker · Columbus, OH · Member since 2013 · 3k+ posts · 1k+ votes
Seems like every retail deal in my area is selling at $100/ft2....would it be easy enough to say that every property selling at $70/ft2 is a deal...thoughts?
Real Estate Investor · Plymouth, WI · Member since 2013 · 28 posts · 10 votes
11y
I don't put much stock in the cost per foot figures. It might be somewhat meaningful for the retail buyer, but even then only if you're comparing identical properties - same size, condition, neighborhood. As an investor, I'm mainly concerned with the cash flow.
Flipper/Rehabber · Mentor, OH · Member since 2011 · 121 posts · 51 votes
11y
@Brandon Sturgill in my area depending on what part of the neighborhood your in you can sell between 90-100. There I set my mls alert for under 60.00 a square foot. That is my first criteria. That does not mean I buy every house under 60 but I do look at every house that falls into that category. It is my first in mt search process on the mls.
Residential Real Estate Agent · Cookeville, TN · Member since 2013 · 1k+ posts · 948 votes
11y
@Brandon Sturgill When I do an MLS search, I take the results and sort them in ascending order by $/ft^2. The lower $/ft^2 aren't automatically a deal, but it makes the search a bit easier.
Rental Property Investor · Mercer Island, WA · Member since 2008 · 22k+ posts · 14k+ votes
11y
In the same neighborhood and all other factors being equal, larger houses will sell for a lower $/sq.ft. than smaller houses. It doesn't cost very much to bump out a wall and add 100 sq.ft vs. the cost of the rest of the house. When appraisers adjust for size their adjustment factor is a third to half of the average $/sq.ft. for the area.
Investor | Syndicator | Instructor · Cincinnati, OH · Member since 2008 · 435 posts · 198 votes
11y
I use the $/sf as a an indicator to flag the property for review. While it means absolutely nothing until you see the condition of the house anymore. It used to work pretty well but since the housing crisis, not so much. Too much crap out there skews the results.
