Hole 16 - House For Sale

[zumagun]

I saw this when browsing houses yesterday.  Backs right up to hole 16 and is priced at $140,000.

http://www.reeceandnichols.com/homes-for-sale/KS/Kansas-City/66103/3222-W-42nd-Avenue-75408660

[robm]

finally I can buy a house on 'a' golf course

[phisherman_77]

The hilarious part is that the Reece Nichols listing actually says that it backs up to a "golf course". 

[Tom]

It does back up to a golf course.

[phisherman_77]

I'll just assume that the typical house hunter doesn't expect a disc golf course when a real estate listing says, "backs up to a golf course."

[LKillian]

The typical house hunter in this part of the 'Dotte isn't looking to drop 140 on a house either, golf course or not. Especially with those awesome neighbors.

[matty]

that'd be cool if a golfer(disc) moved in...   you know, or a ughh madame... whatever. either way. just spitballin' here.

[hberciunas]

Beep . . . Beep . . . Beep . . . Beep . . . (backing up to a golf course)

[The Bird Father]

The club doesn't have the funding to purchase this as a club house for us?

 

[Tom]

We should be able to buy that house for no more than $120,000.  All we need is 24 birds with 5k each and we could have a private roost, on the course. 

[zumagun]

That house is way overpriced right now considering the neighborhood median income is $30,994.

Using this formula, you can tell if a house is overpriced or not:

Code: [Select]

90% of Monthly Repayment / (70% of Neighbor's Income / 12 Months)
If the answer is over 20%, then the house is overpriced.  In this example the Percent of Average Monthly Income of Neighbors for this house is a whopping 36%

Code: [Select]

657*0.9 / ((30994*0.7)/12) = .36
Considering all this, This house should, more appropriately, be priced at or under $76,000 that would be a monthly payment of $356 (76000*.00469)

Code: [Select]

356*0.9 /((30994*0.7)/12) = .20

[phisherman_77]

But it backs up to a golf course dude!  Doesn't that count for a 30-40k markup?

[spinachio]

That house is way overpriced right now considering the neighborhood median income is $30,994.

Using this formula, you can tell if a house is overpriced or not:

Code: [Select]

90% of Monthly Repayment / (70% of Neighbor's Income / 12 Months)
If the answer is over 20%, then the house is overpriced.  In this example the Percent of Average Monthly Income of Neighbors for this house is a whopping 36%

Code: [Select]

657*0.9 / ((30994*0.7)/12) = .36
Considering all this, This house should, more appropriately, be priced at or under $76,000 that would be a monthly payment of $356 (76000*.00469)

Code: [Select]

356*0.9 /((30994*0.7)/12) = .20

There are 3 types of people in this world, those who can count and those who can't.