Firestarter…Inclusionary Zoning…and HOW MUCH Over Asking?..Deerwood Realty and Friends…Ep. 44

Three Stories today

Story 1, Neighbor sets neighbor’s house on fire….

Why did you set fire to my house? “why not?”

Neighbor was going to “cleanse this place”

Apparently this woman had tried to start a fire at another home 4 days before

Questions/Thoughts
1. This is not the neighborly thing to do…setting fires to neighbors houses
2. Not a psychologist…or a lawyer….but, could something have been done before she started the 2nd fire?
3. There are people who believe that crime is only found in poverty….this happens to be a mobile home park, but we’ve seen a version of burning someone’s house down with that real estate developer out of New York.

Story 2

Mandatory Inclusionary Zoning

What is it? An increase in zoning density where fees are charged for every square ft of the project, which then goes to housing agencies to build subsidized housing

Thoughts Questions

1. The author notes words get twisted. He notes that when a local politician says “We need more affordable housing”, they are really saying they “need more housing subsidies” I have noticed this as well. In this case, does anyone really NOT want affordable housing? It’s all in how it’s sold..

2. The author notes that in 2016, housing permits fell from 5,094 housing units to 1,779 units in 2020

3. Author’s proposed solution: Ending zoning and any housing rules that are not strictly about health and safety. What do you think about that? How would one quantify current rules that aren’t about health and safety? Isn’t that what every new rule has been couched in for the past 20 years?

Story 3…how much over asking did a house in Boston go for

Answer: 925,000!!!

Questions/thoughts

1. It was a 3 million dollar house to begin with

2. Quote: “Typically, when a major over-asking bid comes in, it’s from someone who has lost out on so many,” Adler added. “They’re done, and they just need to get settled because it’s too stressful, and they want to be finished with the process.”

I have found this to be true as well. People tend to overbid when they are tired of looking. Buyer fatigue is what I call it….and I try to help guide my clients so that this doesn’t happen. Here’s how

a. We look at a limited number of houses per week
b. We concentrate our search on certain areas…we do this so the buyer can educate themselves on what things are actually selling for.
c. We discuss an approach that says, if we get this house great, but there are other houses.
d. We don’t stress a sense of urgency…that is we don’t say, “you have to buy this house today because if you don’t buy it someone else will”. That’s understood by myself and my buyers. It’s hard enough to hunt for houses as it is…don’t need agents adding to the stress.

Podcast call in number = 314-274-3964
media@deerwoodrealtystl.com

Source:
https://www.kfvs12.com/2021/07/06/woman-accused-setting-neighbors-home-fire-says-she-was-there-cleanse-this-place/

Source: https://www.forbes.com/sites/rogervaldez/2021/07/06/inclusionary-zoningportland-feels-the-consequences-of-bad-housing-policy/?sh=7010753a1264

Source:
http://realestate.boston.com/buying/2021/07/06/home-cambridge-went-nearly-1m-asking/

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