Happy New Year to all!
TMP is looking forward to a great 2025. We’re planning on selling the house on 29th Ave, bought for $246K in Feb 2021. And maybe, the house on Valencia, the first TMP buy in Jun 2019 for $197K. Yes, five years ago you could buy a “good” 3 br/2ba house in Phoenix for under $200K. Those days are long gone.
TMP equity was down $6K this month due to a decrease in our bank accounts and a drop in the estimated value for the house on 29th Ave. And we are still in the process of preparing the 29th Ave house for sale. But TMP is still comfortably in First Place compared to other investment opportunities.
How much will we get for our $197K house bought five/six years ago or our $246K house bought four years ago? Our estimates say $349K and $329K. Yes, the older cheaper house is estimated for more appreciation. Let’s see what our expert Jeff thinks. As our agent he will determine the list price in coordination with his clients, who are Jim and the same Jeff.
Note that what we are most concerned about is the equity we must reinvest, not the buy/sell price. For Valencia and 29th we are looking at $187K and $159K equity before fees. We should be able to buy four houses, two for each relinquished property in a 1031 exchange.
Here, Jeff and Adam discuss collaboration among competing agents:
And, yes, we found this guy in our sink:
While I was gone, Michelle chopped him in half. When I looked again, I saw a half a scorpion! That was scarier than the whole scorpion.
1 Corinthians 15:55
“O death, where is your victory?
O death, where is your sting?”