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The HGTV method.I think I figured out the handshake

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Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
Wasn't much to do today, I bid jobs, got some work in, you order it, I
inspect it tomorrow sort of thing. Had a comp check even, for an FHA.

So I cleaned the garage and started watching HGTV. I recall that
on one of the Fox shows on Saturday the statement was made that
the way you'll know the real estate bottom has been hit is when people
don't say on HGTV that if you spend $5,000 you'll get a 100% return.

So I'm watching "What Its Worth" and I think I figured out how the
unindentified 'agents' come up with their "I would list your home for.....?"
You take owner's purchase price, do the 100% for remodels (ie, we spent
$5,000 on the kitchen...."You'll get 100% on that improvement). And
the secret handshake is, "Your home is worth what you paid for it, then
you add the remodel cost x 2 = List Price!". Then the 'host' says, hey
pretty nice profit for 5 years, $110,000. Though they don't say, "well of
course you know you'll only net the current 15% buyer discount because
we're in a buyer's market, less real estate commission (5-6%), and of
course you'll have to pick up 3% of the buyer's closing costs.

I know when we'll know the real estate market has bottomed out,
when HGTV bites the dust.
 

Mike Boyd

Elite Member
Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
Do you mean HDTV? I don't know what HGTV is. Maybe if I watch that program I can figure it out. It is such a LEARNING experience!!!
 

Ward Dresser

Member
Joined
Nov 1, 2005
Professional Status
Certified Residential Appraiser
State
California
Mike, I think it's home & garden tv
 

Hamlet

Elite Member
Joined
Aug 14, 2006
Professional Status
Certified Residential Appraiser
State
Ohio
I was watching one of those shows the other day. Simply amazing how accurate they were. Each and every time they came in at the exact number that the homeowner said they needed. Hmmm, I wonder if they were using Zaio? :rof::rof:
 

Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
Donna,
That could be the super 'secret' better Zaio algorithm that Pitts Pete doesn't
want us to know about.
 

Hamlet

Elite Member
Joined
Aug 14, 2006
Professional Status
Certified Residential Appraiser
State
Ohio
Is that really fair, I mean PP has been so patient and persistent avoiding answers to all of our questions?:rof::rof:
 

Pat Butler

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Illinois
HGTV- it's that show that amazingly features houses that are mostly owned by two guys or two girls living together. Being filmed in CA they think that these alternative relationships are typical of the rest of the country. We don't even let our kids watch HGTV anymore because they keep asking about all the weirdos they see on that channel.
 

c w d

Senior Member
Joined
Oct 2, 2006
Professional Status
General Public
State
Florida
Elliot is right. I knew it was all over when reality shows about flipping and selling homes started airing. So, the converse should be true as well.
 

nauthead

Senior Member
Joined
Nov 26, 2004
Professional Status
Certified General Appraiser
State
Florida
I'm starting my own show called "Flip Out Over This House". It will document how mad I get whenever something breaks at home and I spend Sunday morning at Lowes shopping for replacement parts. If this show is successful, I'm going to branch out and make a show called "Real Fishing". In episode one I sit at the boat dock and throw things because the boat motor won't start.
 
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