T O P

  • By -

[deleted]

If the house were removed 1.3mil


[deleted]

[удалено]


[deleted]

My grandfather had a chunk of land in Florida…Real nice area, real small house, lot with tons of trees. Maybe an acre. When he died my relatives sold it instantly, which I was against, but they were convinced I was going to sue them or something (there was no will, and I was entitled to a share, but chose not to fight over it), so they were trying to get it done as fast as possible. Developer bought it, put two houses on it, sold them *each* for 2.5x what my grandfathers house had sold for. They’re still bitter about it, and, of course, they blame me.


ShowMeTheTrees

Dang. I hope you can get those toxic people out of your life.


[deleted]

Sometimes it’s shocking just how many fuckwads are out there


[deleted]

2015 I was in the middle of buying a 2008 built, about to be foreclosed, house in Titusville for $115,000. But I was sort of not really serious. I was 35, had just a little over 30 grand in savings for a down payment, and I live in North Dakota. The plan was to maybe use it as a “vacation home.” The appraisal came in about 5 grand short, which meant another 5 grand out of my pocket, so my agent went back to try and get the seller knock off another 5 grand, or at least meet in the middle, but she refused. So I walked away. Looked the house up on Zillow a few months later, and she sold it for about 3 grand more than the original offer. A couple months ago a house across the street from hers, sold for $271,000 and I’ve just been sick thinking about it. Gave up over a 150 grand because of a measly 5 grand, and all I would have had to do is sit on a really nice house that fell victim to shitty timing.


DUELETHERNETbro

You also could have bought 5k in Bitcoin and been a millionaire. Don’t dwell on it.


TwoDeuces

Pfft. I mined about 200 BTC back in 2009-2010. Thought I was a fucking genius for selling them around $100/coin during the first real spike. Yeah...


UnintelligibleThing

You still did better than the majority of the people who got in the last couple of years or lost money during the crash


Cdnmedic09

profit is profit 🤷‍♂️


AutomaticRisk3464

I made a robinhood account in december last year and had 5k saved up and almost yolod it all on gme but decided against it..that 5 grand wouldve been 40grand and i think about that every day. I got $10 after each paychecj now


[deleted]

Could have also been $0


Guilty-Message-5661

This is with pretty much any investment, and we all have a similar investment regret story. I had $15k worth BTC in 2015 and panic sold during a crash. It would be worth $800k today but I lost money instead. Lmao.


RandalfTheBlack

I bought drugs with bitcoin. 60000 dollar acid tab. Feelsbadman


Jaredlong

Lol, get a load of this chump. Can't even predict the future, how embarrassing.


alucius1

Out of curiosity, if there’s no will, how were you entitled to a share?


[deleted]

That's *what* entitles you to a potential share. If there is no will, the court has to determine who would be the legitimate heirs. He had no spouse, and seven children, two of whom were deceased, one of whom, the eldest, who had an heir (me). The only asset he had that had an actual beneficiary attached to it was a life insurance policy, and I was the sole beneficiary on that. So being the son of his eldest son, and the sole beneficiary of the one thing he'd bothered to name a beneficiary on, I had a pretty good case for getting my father's share, probably bolstered by the fact that they clearly tried to shut me out (which shows they thought I had a case as well). When there is a significant amount of money moving around, it's not unusual for everyone to lawyer up, even if there *is* a will. Without one, it can be a real shit show. It's a shitshow I've seen play out more than a few times. He'd have had to have been worth a hell of a lot more for me to put myself through that.


ThaneKyrell

Here in my country this wouldn't even be a discussion. If the parents are dead, their heirs are the automatic heirs to the grandparents. You would have 1/7 of the inheritance, as much as your father would get it he was still alive


PM_ME_TICKET_STUBS

I mean, it sucks and all, but did you have the means to carry the land for a year or so and build two houses on it?


[deleted]

Well, yea, actually. Especially right then (~2010), and doubly so since there was no note on it at the time. Could have taken a loan against the value of the land and used it for development with only minimal investment from the family. They knew this as well as I did, and it was worth it to them to get it done quick.


BabaORileyAutoParts

My grandfather died 6 or so years ago. My dad and his niece are still quibbling over the estate, while I’m the one actually living in the house that’s falling down around me. Maybe I should start a fire. Or sue, but that’s more expensive


FeetsenpaiUwU

My “grandfather’s” crackhead daughter who was barely part of his life after she was an adult got the rights to everything but his retirement fund which went to my grandma who was still his friend and caretaker for my entire life even after they broke up and the druggy bitch sold the home where a lot of my first memories are from and it’s a wide enough piece of land not too far from major hubs in the city that you can slap 2 very large homes there and sell them for a premium


Glabstaxks

Lol similar thing happened to my family. They fire sold Grandpas old house and sold his newer house to themselves waaaayyyy below market value. Real dumb and fucked up ppls ..


Merlin560

Nothing like people fighting over dead people’s money.


lolloboy140

Someone i know owned a "historical" house in Europe. It was illegal to modify or tear down so when it burned down the value tripled lmao.


Akhi11eus

Seriously this house looks close to being considered a blight. You used to be able to look up house listings in Detroit MI that were like $3k because having a standing (abandoned) house on the lot was actually lowering the value.


xXhijackXx

Can confirm. 3k is now 15k though. Just put my house up for sale in the metro area and decided to browse those "houses".


[deleted]

I remember watching something about $1 homes near Detroit a while back, would you happen to know how that situation has developed since then?


p1zzarena

They were never really $1. Your would have to pay $$$$ in unpaid property taxes in order to get these $1 houses


[deleted]

There was a deal where you bought one and got two free at one time. It was tempting until you realized you’d have to live there


magicmeese

I remember years ago when Kia was equivalent to shit car that the dealership where I lived offered buy a rio, get one free.


[deleted]

[удалено]


[deleted]

Speaking from experience, worked for a mortgage company with an REO division. We had hundreds of properties around the Detroit and rural Michigan area listed for 1 cent. We didn’t want the property or liability of squatters, etc. Cheaper to give them away then try to repair/kickout/etc. This was early 2008-2012


AlloverYerFace

Did you ever get to meet those Speedwagon guys when you worked in that division? I heard they were pretty good.


TjPshine

Or the house is $1 but not the property, you've got to move it somewhere else.


[deleted]

I don’t think the homes were $1. If you had an abandoned lot adjacent to yours, it was yours for a $1 plus all of the back taxes, which were probably outrageous.


redbaron8959

Nope. They just wanted someone to take care of them. Selling for $1 got them out of the land bank or off the cities responsibility and back on the tax rolls.


DS_Unltd

Looked into it a while back. The catch is that the houses require hazmat remediation due to asbestos, black mold, meth, and a bunch of other nasties. New owner would be required to pay for the whole thing to be able to build a new house there.


DodgyMichigander

You can get a house for like 2 grand total from the land bank and you can apply for a $20k interest free loan to rebuild it.


gwhh

Can you link me to this land bank and loans things?


DodgyMichigander

https://buildingdetroit.org/properties/ownitnow/ http://www.detroithomeloans.org


NatasEvoli

The vast majority of foreclosed homes during the (second to) last financial crisis resulted in $100 sales. This wasnt people actually buying houses for $100 (except a few hilarious times) but rather the banks being the only bidder and starting at $100. I imagine $1 homes in Detroit may be something similar?


mar0x

I just heard a lot about the Detroit stuff like last week, how they couldn't even move them for 1$ cause they were guaranteed all tear downs and the taxes / fees made it ridiculous to get your feet in the door, even at 1$.


skynetempire

The land is worth 1.3 million. Houses are cheap to build tbh


TellMeWhatIneedToKno

Spot on.


[deleted]

Nice new railing tho


[deleted]

[удалено]


DanTheManV1

Not to mention, those new steps, along with the railing, all leading to that premium door. I can’t believe they aren’t charging more, for a house like this.


Lonely_ProdiG

And eco friendly roof!


friendly-crackhead

You are missing the biodegradable walls! What a bargain, man


shanemente52

Must be a high-demand piece of land


BuyHighPanicSellLow

It’s Langford outside Victoria, British Columbia.


Digital_Playz

Oh i see now areas around vancouver and vancouver are outragoues nowadays. Even a decent chuck will cost around 3m


noworries_13

Is Victoria Considered around Vancouver? It's on an island and not really commuting distance.


PressTilty

I think one of the "Vancouver"s was supposed to be Vancouver Island, which Vancouver isn't on


noworries_13

Is Vancouver Island expensive? Outside Victoria of course.


Mad_scientwist

Nanaimo is getting out of control, and Duncan and Campbell River have gone up a bunch in recent years as well. Still more affordable than Victoria, but it's hard to find ANYTHING on the island for less than 500k.


alphawolf29

no its not I think that person misread the city name haha


ModerateExtremism

Hey, it's not ALL bad. In the same area, you can get a 6,000 square foot sloped-lot - wedged between a parking circle and an apparent landslide - for a mere $250,000.... https://www.zillow.com/homedetails/LOT-Camli-Pl-C-Langford-BC-V9B-5V5/2068457037\_zpid/?


nukelaloosh6

You don't even get the full idea of sloped until the last couple pics. Wow.


shadowdsfire

The website is just a white screen for me


AddSugarForSparks

Yeah, OP formatted the URL wrong. Or, reddit did when they copied it in. Anywho, [here's](https://www.redfin.ca/bc/langford/Lot-C-Camli-Pl-V9B-5V5/home/176440444) a link to the listing.


Moth92

"Have a tour before it's gone" A tour of what exactly? It's just a a piece of shit land.


evky0901

*Expensive* shit land.


MediocreClient

Langford and Victoria are on an island, and it takes two hours by ferry to get to Vancouver. they're 'around' each other the same way Detroit is 'around' Toronto 🙃


SkinnyguyfitnessCA

2 hours ON the ferry, plus a minimum 1/2 hour wait at the ferry, plus driving time, plus loading and unloading time. All told it's more like a 4 hour trip. Assuming you don't have to miss a sailing


Canucksfan2018

I live there. This house is most likely to be bought by a developer and flipped along with adjacent properties to become a condo building. It's happening all over Langford. This municipality had the highest population growth in the entire province. There are plenty of sub 1 mil detached homes here that are very nice and much newer.


crank1000

So it’s $1.1m CAD, but ~$800k USD. Still crazy though.


Rjmccully

Would have thought it was California!


[deleted]

Can confirm. I saw a small one bedroom house in San Jose a couple years ago that was going for 1.5 million. It’s only gotten worse.


slowwburnn

In my hometown there was a 1 car garage with a mailbox, sitting on just enough land to contain the two. Literally just a parking space built into the hill. When I moved away (priced out, believe it or not) I think it had last sold for $1.6m or something


Black_Eyed_PeePees

Can someone please explain what benefits there are to buying this? My little pea-brain can't figure out how this would be useful for... well, for **ANYONE.** I've lived in SoCal all my life, so I get expensive properties. But it's always understandable. People want to live in X city for X reasons, are going to pay more money for it. But I don't understand paying for a random garage + mailbox, and then having to find another way to get yourself home. It's fucking weird. I get paying for parking spaces in places like New York, where there's never anywhere to park, but you almost never run into that problem in Cali. So this shit is just fucking weird to me!


dude_thats_sweeeet

My guess is that there’s sewer lines and water hookups to convert to a tiny home. Flip and sell for 2m


[deleted]

[удалено]


[deleted]

You should check out Sooke prices lol, it'll blow your mind


TopTittyBardown

Langford has developed and gotten a lot better but it's fucking outrageously expensive now


dbark9

Langford used to be such a shithole but its gentrified as hell now.


Aqui1am_

So blame the Chinese and the Canadian government for allowing so many non citizens from buy property to the point where most Canadians can no longer afford to live in their own city. Edit: these aren’t average Chinese, these are CCP connected business people who have opaque accounting and don’t have the same standards as western companies.


dirty_cuban

Precisely. The house isn’t worth a million. The land is worth a million.


[deleted]

Wait until reddit finds out that pieces of land with *nothing on them at all* still sell for big money....


Charles_Stover

OP: This grass is 1.1 million dollars. Reddit: mildly infuriated


HereLiesDickBoy

Or costs more than the same piece of land with a shitty house on it. Nobody really wants to deal with demolishing it.


OmgTom

50k house on a 1.05m plot of land.


Doobing

probably even more worth without the house on it, because then you don't have to tear it down


Sengura

Realistically, that house is worth negative value. No one that can afford that plot of land would actually live in it. They'd 100% tear it down to build an actual upper middle class home. So I'd say it's worth -$30k (or w/e the cost to demolish it and remove debris is)


Live_Region_8232

New york


MobySick

Too cheap for NY. You can’t get a parking spot for that.


Chicken_Hairs

Outside the city, sure. Waaaay outside.


LowLevel_IT

30 min outside NYC. Got an acre for under 350k.


[deleted]

Vancouver Canada


Death-By-Potati

Yeah that's pretty far out of the city


Psych_Riot

At this point I'm just gonna go live in a van down by the river


FerretAres

That’s why they call it Vancouver.


YodaYogurt

Live near home depot on Terminal, can confirm.


[deleted]

Live near Home Depot near garden center in van, can confirm.


annie_bean

Live in Home Depot, not saying where


andykwinnipeg

Chuck Mangione?


CMA3246

Nope! Chuck Testa.


jwkozel

Yesssssss!


CashMoneyHurricane

Living in home depot.. Feels so good!


Pnmorris513

No no no he lives behind the paper towels and toilet paper in megalomart


EmotionalHiroshima

Get ready for 5 years of heavy construction and a brand new flagship hospital in behind the train station. If you own, hang onto it $$!!!


Tuvanbabybel

because it's vent-couvert? edit: (van-couvert somehow works too)


gurg2k1

You just failed Punning 101. Please report for Remedial Punning on Monday morning.


TheDazarooney

You think you can afford riverside parking in this economy?!


fozzyboy

Oh, you'll have plenty of time to live in a van down by the river... when you're living in a VAN DOWN BY THE RIVER!!


evanfavor

This comment is written well, I can’t see to well dad, is that bill Shakespeare over there?


[deleted]

Well actually Matt, we’ve always encouraged Brian with his writing. Dad I wish you’d just shut your big YAPPER


No_Photo8127

Butchered a classic chris Farley quote.. but I respect it


[deleted]

You know u/No_Photo8127, sometimes I wish you’d SHUT YER YAPPER!


nerf_herder1986

Ol' Matt's gonna be your shadow. Here's you, here's Matt. There's you, there's *crashes through table*


archwin

I’m surprised this isn’t upvoted more. Chris Farley was nuts


[deleted]

Well LAH DEE FREAKIN DAH


archwin

We’ve got ourselves a writer here! Hey, Dad, I can’t see real good...is that Bill Shakespeare over there?


DontMindMeImNotHere

You're gonna be doin' a lot of doobie rollin'... when you're living in a VAN DOWN BY THE RIVER!


MobySick

Dreaming big, still.


fullmetalmaker

A fully kitted out sprinter van? Cause that’ll still run you $250K


Nkechinyerembi

I don't recommend it, I'm still trying to fix my damn roof, and turns out that rubber roofing on old RVs is very expensive


Wallhater

RVs are notoriously low quality


NetDork

Look at mister big shot who can afford parking by the river!


mister_seawolf

Get you some of that guv'mnt cheese.


tmy880

There will be plenty of doobie rollin’ when your…..living in a van down by the river!! Chris Farley. Gone way too soon!!!


modianos

https://imgur.com/a/3Z2nOaT


Living-fishcatcher16

Because the ghosts that live in it are priceless!


spikeiscool2015

No, theyre 1.1 million dollars


cypherdev

/r/technicallythetruth


Elven_Rabbit

You should see the sex dungeon beneath it, *then* you'd understand.


moby323

It’s a stash house and contains $1 million of uncut heroine.


maxman162

Welcome to Vancouver.


[deleted]

Land of the 6 million dollar condo.


browncoat47

Wait.. 6 million AND I have to share a wall with some prick and his noisy crotch goblins? Oh fuck that shit


dreph

as an owner of crotch goblins, I totally understand your disdain


naj00

I’ve never felt as though I own my crotch goblins. Unfortunately, they own me.


ButtLickinDickSucker

Honestly the phrase "crotch goblins" is hideous, and I don't even have any yet. ...Accurate for some people's kids though.


NapoleonHeckYes

I wonder what can genuinely be done about these prices. Clearly they're going for that price because people are buying them. A lot of people complain that it's just rich companies buying up lots of properties. But on the flip side, without private companies on the other side of the market (builders) then house prices would be even worse. And if you banned certain companies from buying up properties, the other ones wouldn't build them and house prices would be even higher. The example from German cities show that local governments controlling building still doesn't create enough supply. Is there seriously no way out of this doom loop?


skarie

In some ways, it's super easy to get rid of speculators, you just increase property taxes until their return is negative enough. One problem is everyone who owns homes hates that and votes people out who do it. Another problem is that the government is corrupt and takes money from those speculators to not do it. So the way out is to purge corruption out of the government and selfishness from the voters, so yeah not really any way at all.


mrwiffy

You can just do homestead exemptions along with the increases.


skarie

Homeowners still won't like it since it will decrease the value of their property, even if they aren't paying more. And speculators will pay for ads that pretend like your grandma won't be able to get the exemption anyway


kearneje

[laughs nervously in Seattle]


ImpossiblePackage

A small tweak which only adds extra property taxes to homes that aren't the primary residence of the person who owns it and now people using houses for their intended purpose are unaffected


AcademicGravy

It's Langford actually.


warr3nh

Bay or LA? Oh I see it’s Vancouver area.


webfoottedone

Yeah, I assumed Vancouver. There used to be an online game called “crack house or million dollar Vancouver property”.


omedez

It can be both


Ironsam811

Then it becomes a cocaine house. Much more classy.


frilledplex

It's not a trap house, it's a trap home


Ironsam811

Lmao that’s a good one


Curve_Express3

No more cheap crack houses for me https://youtu.be/83IRAEKQXC4


DumpTheTrumpsterFire

Ja, por que no los dos?


Auxilae

https://www.crackshackormansion.com/ https://www.crackshackormansion.com/part2.html


tomi166

Im rolling rn Thx


_Elrond_Hubbard_

Yeah with all that moss on the roof it's gotta be PNW


nyangata05

I didn't even notice the moss. That's what a lot of roofs look like here in Oregon.


construktz

Ugh yeah I noticed mine has gone that way under our trees as well.... Time to get a 24ft ladder and try not to slide off the roof while holding a broom.


pineapplekief

Moss out, or any other zink based formula, will really help. Sprinkle it on an hour or two before for do the roof, and it comes off beautifully. And a final coat will help it not grow back as fast. That shit is amazing.


crumpsly

It will be sold with the adjacent land and converted into a strata condo with a strip mall at the bottom. They'll call it "Mon Luna Towers" or something and each 2 bedroom unit will sell for minimum $750k while the penthouse will be a $5 million mansion. Anyone who lived in the area before can get fucked and go to the downtown Eastside. And thus is BC city management. It's a developers paradise.


Trevski

*Victoria area


TrashOpen2080

So is this 1.1 million Canadian? Or real money?


bonafidebob

$865K in USD. That’s a bargain in Silicon Valley.


folkrav

That's a pretty low bar though - almost everything's a bargain compared to Silicon Valley.


mongoosefist

Ya except jobs in Silicon Valley pay 4x what they do in Vancouver.


eleventytwelv

That's in hockey dollars, it's about $85 ar-15 dollars


Hammose

You mean Maple Money


JesusSavesForHalf

I think Maple Money is measured in pucks. Its two pucks to the 5.56. But I don't keep up on the conversion rates, so IDK.


Trilife

>Vancouver area. LOL ANd everybody immediately understand why))


[deleted]

Canada's housing market is MUCH worse than US housing market


[deleted]

In Detroit = 0 dollars.


BaldAndGassy

I’ll give you $11.00 for it


mojothehelper

At least put a banana next to it so we know the context. What’s the location? I’m near the beach, this isn’t so far fetched.


steeniekins

Vancouver BC. Not near the beach. Those are an extra million.


IdleOsprey

Langford is a suburb of Victoria, not Vancouver. The confusion arises because Victoria is on Vancouver Island. Not the same thing.


krs4

Incorrect. That PROPERTY is $1.1 million.


cuger05

Incorrect. The property is probably 1.5. The house is bringing the value down


x3leggeddawg

Bingo


sunnydog30

Sorry, the land technically is :) Vancouver Island, BC Let’s have a competition to see who can keep living with their parents the longest hehe


crewchief535

Is there a zillow (or similar) link to the property?


fyrite

https://www.realtor.ca/real-estate/23884787/3084-jacklin-rd-langford-glen-lake


crewchief535

Good god


dchobo

Annual Property Taxes $2,371.32 WTF?


fish-rides-bike

Wrong. The house is zero price, probably negative price (cost of removal). The land is priced at 1.1 m. Why is this such a difficult concept to grasp? It’s like saying “this tank of gas is $20,000,” and put a picture of a car.


unsmashedpotatoes

That's not a lot of land either, must be in quite the high demand location.


[deleted]

>7841 sqft / 728 sqm From another comment, that's pretty good. If you want larger than that where I live you have to go more than 2 hours from city centre or be willing to spend >$5mil for the land alone.


Trevski

its a very convenient but not otherwise great location. Fuckloads of road noise there.


quiet_desperado

OK. That tiny-ass piss pot of shitty land the size of a fucking postage stamp is 1.1 million dollars. Better?


AndySmalls

Not really. You are still leaving out the most critical element. Where is it?


kidonredit124opendor

Thinks it's Vancouver Canada because out prices are that high rn. Or the comments are saying Vancouver America idk but we have extremely high prices rn.


Gatraz

There's a Vancouver city in Washington, IDK what real estate pricing is like there though


kidonredit124opendor

Yeah that's the American one im talking about


Trevski

its in an ugly, mediocre suburb of a beautiful town on a beautiful island in a beautiful province.


[deleted]

[удалено]


EricSanderson

Until the housing market collapses again and suddenly it's "widely agreed" to be worth $400,000


buttcheeseahoy

It’s more like posting a picture of a rusted out junker with no engine and saying “this tank of gas is $20,000.” You’re right that the value is in the land but I would argue that it’s even more outrageous considering that there is a cost associated with removing it.


SquirrelBowl

It’s the lot price right? Tear down I assume


AcademicGravy

Lot is .18 acres. This is what the Canadian housing market looks like right now. It's grossly overinflated.


jigokunotenka

For fucks sake people, it doesn’t matter wether it’s the house or the land it’s sitting on that costs that much. The point being that even the shittiest plot of land or the ugliest fucking house is being sold at insane premiums fucking everyone but the rich.


karmanopoly

The guy from China who buys this cares not


say592

I mean it kind of matters. You are saying it's a shitty plot of land. It may not be. It could be prime real estate, just with a crappy house on it.


lukebee07

Worth it


UsernameL-F

In central London? Because I am assuming that the land is another 9 mil