All Forum Posts by: Karen Margrave

So you bought it? Sometimes in those high dollar markets if you get a great location something that you wouldn't consider before makes sense. The key is getting the maximum density on the lot for the most affordable price. Parking is often a big factor too. In San Clemente we did a duplex on a small lot that we bought for $400k, short walking distance to the ocean. We had to do 3 stories, and included a rooftop ocean view deck. The lower level was a double tandem garage for each unit. 

I'd see about extending the closing if possible, until you get something from the insurance company showing it's going to be covered if it closes escrow. Another option is to get the seller to leave the amount of the repair in escrow and have the work done, then the contractor gets paid from the proceeds in escrow, and the seller gets reimbursed by the insurance company. 

I'm not familiar with the market there, but do know it's an expensive one. You left out the most important information, what are you paying for the property? How big is the lot? What is the zoning? What is the location like?  All of those things factor into whether or not it's worth buying. If the house is on the tail end of use and it would make more sense to tear it down later, does it make sense financially? How much life does the current structure have left in it? 

You said the inspector gave you a detailed report, etc. For the main items called out, did you talk to a licensed contractor in that trade to ask them what the estimates to repair would be? Foundations of a home are the most critical. It sounds as though the house needs jacked up and a foundation put under it. However; that means all the plumbing, etc. would need to be refitted, and with the age, it would probably need to be replaced, so once you start down that road, you may as well tear it down and build new. 

I agree with @Richard Masino. Though I'm not building spec homes anymore (due to such thin margins in CA) I am working as a realtor and get the same questions. We only know what information we have today, and we do not have crystal balls. Today, Interest rates are low, and probably will be heading up along with the price of everything. When we were building high end spec homes in southern CA I ended up finding cabinet hardward on HOUZZ. It was sent and to me in a day, and far cheaper than I could buy it anywhere else. In Oregon it was great because there was no sales tax! Good luck. 

There's a Meetup of BP members in Bend at the Old Mill District. @Grayson Graham used to head it up, you might want to check in with him. On the meeting you're referencing, what are they planning? Do creat more high density housing or ? The problem that I noticed in Bend is that with the highway running through the middle of town, and the speed limit being 55 through the city, it slows down traffic making bottlenecks, and the side roads aren't really made for handling the growth they've had. 

@Jay Hinrichs is correct, there are different types of soils in various areas of Bend. Where is the house located and is it on City utilities, etc., or in a more rural area? Your best bet is to get someone over there that knows landscaping design and can look and see what you're dealing with. Your lot may need to be graded away from the house, or some time of drainage system set up. You'll want to do it soon, as the season is short in Bend, and landscapers, etc. get booked up. Just guessing and trying various fixes is like throwing spaghetti and the wall to see what sticks! Identify the problem and find a solution. 

If you haven't signed a contract with a buyers agent, or there isn't anything in the original listing stating that the seller is obligated to pay commissions to anyone shown the property for a set period of time that was shown the property while listed, if so the seller could still be obligated to pay commissions. 

What did your insurance company say, does your insurance cover it? There may be another option, have the tenant sign a liability waiver, drawn up by your attorney. At our house (which we owned) our son and his friends along with some others we didn't know would practice Freestyle Motocross tricks (back flips, etc. they were pro riders) One of the fathers of one of the riders was also a personal injury attorney and he wrote up a liability waiver that we had parents sign, or the riders if they were adults. 

Before you go taking it down, you might want to check and see if that's legal. It could be a can of worms. 

Telling you the truth about what? If you can be more specific with the issues you're having finding an agent, it's easier to help. 

My son has been touting a block chain investment that he hopes will take off one day. It's called Candela, and it is used for solar energy that is sold on a shared community grid or ? something to that effect, it's pretty involved. 

Personally I like how Bitcoin has a set number of coins that can be mined, kind of like how the gold standard used to be. If enough vendors, etc. start accepting it as payment, obviously it's a no brainer, but how long will that take? Also heard about one that will be used to stop scalping of sports tickets, etc. which to me if there's an actual practical value makes a lot of practical sense.