All Forum Posts by: Raj Vajir

I recently put an offer for a house that needed some work through an agent.  They were asking $93K but I offered $80.  Current owners want to move out to build another bigger house.  How can I know if he actually submitted the offer to the sellers.  He is not responding.  Is there a way I can submit offer directly to seller or to their agent?  

I've done this with a seller that was selling to me as a primary residence and this was back in 2000 in the bayarea (Calif) where there was bidding wars.  They accepted our offer because we let them stay an extra month.  We were staying in an apartment at the time, month to month, so wasn't a big deal for us, but you are right it is a selling point.  It gives them time to move with a peace of mind instead being on a time crunch.

@Lynn Currie @Account Closed 

Thank you very much for your inputs.  Makes sense.  The market in this area is slightly different than Austin as its got much more development to go.  We got 8 banks in the area, way too many for a small town for sure and most came in within 2-3 years.  I will definitely watch carefully and understand the developer's restrictions.

@J Scott: This is a very highly desired area and most of the town is a B grade area.  No apartments and no big crowds yet, but is anticipated due to the growth.  I drove by the subdivision and am already seeing alot of SOLD signs going up.  I anticipate about 25-30% growth within 2 years due to the high demand of housing in this area.  Due to this town being so close to the Austin job market, and the great schools, I anticipate a good appreciation.  Lots of folks moving into this town for jobs and just a great hill country living.  

@Bob Bowling: I moved from Ca and have heard of this hence my interest in it.  I will check the developer's clauses to ensure they don't have any restrictions on reselling lots prior to finished product.  

@Karen: Agreed I do need to get i more information on it.

Thank you

Would someone be able to assist in answering what things I should look for when going to view a property for the first time.  What are some of the clues to knowing issues with potential future problems.  Major things I've found so far, are roof, foundation, plumbing, termites.  Any assistance on how to identify these and others would be appreciated.

Raj

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@Karen

You're right this is major speculation for sure.  The area is booming and its definitely a small town connecting to a major city ( ~15 miles). Pop is about 25k and has housing shortage.  There are 2 big subdivisions going up with total of 500 homes with big lots 1-2 acres.  I guess I was just asking more along the lines of buying now with the prime lot location and then selling in 2 yrs or so, but I can see how this can be very risky with the current falsely inflated economy.  I'll stick to hunting for rentals with cashflows.  Thank you for taking the time to respond.

Raj

In my area there are 2 new subdivision under construction.  Developer says we can put a refundable deposit down.  Is it possible to profit this way?  Any laws that would prohibit this activity?  The town is in major growth mode with great schools.  Price ranges from ~300k, so obviously just looking to sell at higher price with in a year of build out.  It has potential to hit low ~400k due to schools and major pop. growth.  

Hi Darin,

I'm in Dripping Springs, and have followed your story and though it sounds like a scary encounter, you seem to have a good attitude through it all, certainly a positive characteristic to keep moving forward. Wimberley and DS area are definitely booming, so I'm sure you'll get good prices on your property. Keep the head up and push forward. I've been hunting for some rental property in this area as there is a shortage of them. I'm still learning alot from BP on various topics. Listen to podcast often.

Raj

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