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swiacy said:
This past spring I asked a reputable realtor what was the cost of new construction and he said $140 per sq. ft. and that number is fair but obviously will change depending on location among other factors. Adding lot cost, $350,000 builds a decent house. What has changed is the need for additional sq. ft. in larger room size over the years, the market wants 3,500 sq ft homes not 2,000 sq. ft. homes.
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Currently building a house...I would hate to see what construction you get at $140 per sq ft.

At least here, $350,000 gets you a split level unfinished basement 2 car garage 1,600 sq ft builder grade house. From watching the market around Central Iowa I haven't seen anything to suggest that market is too much different.
 
IcSyU said:
Currently building a house...I would hate to see what construction you get at $140 per sq ft.

At least here, $350,000 gets you a split level unfinished basement 2 car garage 1,600 sq ft builder grade house. From watching the market around Central Iowa I haven't seen anything to suggest that market is too much different.
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I live in Ames and there is not a new build in the $ 350,000 range. The builders and city have really kept new inventory low so demand is still outpacing supply. Huxley will have more new starts than Ames this year according to a local builder.
 
Wife and I are looking and may make an offer soon.

It’s crazy to me, houses that were bought in 2019 are asking for a 50% bump over four years, and usually the only work done is replacing the roof from the duracho.

We are looking in eastern DSM/suburbs.. there just aren’t many houses in the area listed for under $300k. We saw one listed for 285. It was listed last Thursday, we scheduled a visit Saturday, and the agent called and pushed us to Friday evening. It had 4 offers within 48 hours. We did not offer.

You can definitely find some new construction or some older homes in the 300-350 range, though.
 
brokenloginagain said:
so great to go back and read the beginning of this thread from May 2021. every single person would happily take a 2021 price/mortgage in a heartbeat compared to today....and yet back then things were "expensive" and "crazy."
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15-year fixed at 2.56% locked in October 2021

I feel like a King.

I should change my avatar here to Gigachad.
 
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IcSyU said:
Currently building a house...I would hate to see what construction you get at $140 per sq ft.

At least here, $350,000 gets you a split level unfinished basement 2 car garage 1,600 sq ft builder grade house. From watching the market around Central Iowa I haven't seen anything to suggest that market is too much different.
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Agree. Currently building as well and $140/sqft would be a dream compared to actual costs.
 
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swiacy said:
This past spring I asked a reputable realtor what was the cost of new construction and he said $140 per sq. ft. and that number is fair but obviously will change depending on location among other factors. Adding lot cost, $350,000 builds a decent house. What has changed is the need for additional sq. ft. in larger room size over the years, the market wants 3,500 sq ft homes not 2,000 sq. ft. homes.
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3500 sq foot????. That's a freaking big house. Finish most of the basement and you have yourself 6500 square foot of usable space. Ours is 1750 with 1200 finished on the bottom and it was good for a family of 5.
 
BCClone said:
3500 sq foot????. That's a freaking big house. Finish most of the basement and you have yourself 6500 square foot of usable space. Ours is 1750 with 1200 finished on the bottom and it was good for a family of 5.
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Peesh. Don't know how you survived that. Everyone on top of each other and whatnot
 
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BCClone said:
3500 sq foot????. That's a freaking big house. Finish most of the basement and you have yourself 6500 square foot of usable space. Ours is 1750 with 1200 finished on the bottom and it was good for a family of 5.
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About the same for me.
The only thing I would really change is a bigger main floor or upper floor closet. Not in any bedrooms, just big enough to store an upright vacuum easier along with winter coats. We keep the vac in a bedroom closet because the main is small and the upper is for towels and bathroom stuff.
 
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www.zillow.com

1521 61st St, Des Moines, IA 50311 | Zillow

1521 61st St, Des Moines IA, is a Single Family home that contains 864 sq ft and was built in 1950.It contains 3 bedrooms and 1 bathroom. The Zestimate for this Single Family is $219,800.The Rent Zestimate for this Single Family is $1,299/mo.
www.zillow.com www.zillow.com

Listed today.
Who's buying?
 
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cyclone4L said:
www.zillow.com

1521 61st St, Des Moines, IA 50311 | Zillow

1521 61st St, Des Moines IA, is a Single Family home that contains 864 sq ft and was built in 1950.It contains 3 bedrooms and 1 bathroom. The Zestimate for this Single Family is $219,800.The Rent Zestimate for this Single Family is $1,299/mo.
www.zillow.com www.zillow.com

Listed today.
Who's buying?
Click to expand...
A friend listed their house in the DSM metro in the last couple of weeks. Yeah it was very nicely kept and updated but man paying $300k+ for a split foyer (at least that is what it looked like) about gave me a heart attack.
 
cyclone4L said:
www.zillow.com

1521 61st St, Des Moines, IA 50311 | Zillow

1521 61st St, Des Moines IA, is a Single Family home that contains 864 sq ft and was built in 1950.It contains 3 bedrooms and 1 bathroom. The Zestimate for this Single Family is $219,800.The Rent Zestimate for this Single Family is $1,299/mo.
www.zillow.com www.zillow.com

Listed today.
Who's buying?
Click to expand...
1690897887596.png

+61% in 3 months? That's a pretty bold flip attempt.
 
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KnappShack said:
After our kitchen-office-playroom renovation experience I say nada es imposible
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If you renovated an area less than 870sf with laminate countertops and carpet almost throughout, in under 3 months, & it cost you $85k, you did something wrong. Actually many things wrong.

More likely, this LLC spent ~$20-30k on BASE level upgrades & is trying to flip for $85k more than they spent. Nothing wrong with it, but I'd say they're a tad aggressive on such a small house with no finished basement & no garage.
 
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Tailg8er said:
If you renovated an area less than 870sf with laminate countertops and carpet almost throughout, in under 3 months, & it cost you $85k, you did something wrong. Actually many things wrong.

More likely, this LLC spent ~$20-30k on BASE level upgrades & is trying to flip for $85k more than they spent. Nothing wrong with it, but I'd say they're a tad aggressive on such a small house with no finished basement & no garage.
Click to expand...

Looking at the nearby homes on Zillow it doesn't seem wildly out of line with the neighborhood.

Flipper left some room to play with but the neighborhood seems to support that value (or something close) at first look.

Will be interesting to see how this one goes
 
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Tailg8er said:
If you renovated an area less than 870sf with laminate countertops and carpet almost throughout, in under 3 months, & it cost you $85k, you did something wrong. Actually many things wrong.

More likely, this LLC spent ~$20-30k on BASE level upgrades & is trying to flip for $85k more than they spent. Nothing wrong with it, but I'd say they're a tad aggressive on such a small house with no finished basement & no garage.
Click to expand...

Agreed, those cabinets are the stock ones you can buy at Home Depot. The appliances don't seem to be anything special.

This flipper probably went in and cleaned the place up. New paint, floors/carpet, cabinets, etc. Nothing really special, and if your a handy person yourself, all things someone could do themselves. The bathtub looks like it wasn't replaced. Really, it was just a makeover, doesn't seem like any serious construction took place.
 
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