NaturallyAspirated Posted January 25, 2020 Share Posted January 25, 2020 1 hour ago, GGNHL said: Got my 1500 sq ft ranch on 28 acres built in 2006 with radiant heat and attached 2 car garage. Also has a mile long figure 8 loop road out back through the woods. Little spot of paradise. Taxes are $4,200 per year though... That's plenty... Neal Quote Link to comment Share on other sites More sharing options...
spin_dry Posted January 25, 2020 Share Posted January 25, 2020 Bidding wars here for the $150 to 300k homes. Lots of loose credit at the moment. Over the last month I’ve had three realtor sharks ring my doorbell. Vultures Quote Link to comment Share on other sites More sharing options...
smokin george Posted January 25, 2020 Share Posted January 25, 2020 18 minutes ago, spin_dry said: Bidding wars here for the $150 to 300k homes. Lots of loose credit at the moment. Over the last month I’ve had three realtor sharks ring my doorbell. Vultures When we were selling the house in the city the sign went on the lawn on the Wed. The realtors (2 friends) told the perspective buyers agents it was a one day only viewing on the Sat. They came in,saw,put their offers in and the last offer outbid them all. They came prepared to buy, no conditions,no home inspection and a quick closing date. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted January 25, 2020 Share Posted January 25, 2020 5 hours ago, NaturallyAspirated said: I have a smaller garage, that must be it, it's only 24x28. Neal FUCK!!!! I should have gone for the smaller garage. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted January 25, 2020 Share Posted January 25, 2020 1 hour ago, spin_dry said: Bidding wars here for the $150 to 300k homes. Lots of loose credit at the moment. Over the last month I’ve had three realtor sharks ring my doorbell. Vultures You can't buy an empty lot here for $150 grand. It's nuts. 800 square foot bungalows start close to 600 grand. For another 600 grand you get 3 times the house, land etc. Quote Link to comment Share on other sites More sharing options...
Snake Posted January 25, 2020 Share Posted January 25, 2020 18 hours ago, NaturallyAspirated said: I like my 10 acres, 64*48 shed, and house for < $500 in property taxes per year. Neal 17 hours ago, NaturallyAspirated said: Drive in drive out of my insulated garage and 2 miles to state trail system. Neal 30+ acres, 1,500+/- feet of frontage on the ITS trail. 1,200sq ft camp, solar/generator. $600 a year taxes. 3 hours ago, DriftBusta said: My stepdaughter and her husband have been looking for starter homes in southern Maine, northern Mass and first two they put offers on ended up in a bidding war, and sold for more than asking price. Fixed. Quote Link to comment Share on other sites More sharing options...
Snake Posted January 25, 2020 Share Posted January 25, 2020 I'd sell my 1/2 acre, 2400 sq ft home, 4 br 2 bath, 2 car, 20x40 inground for 275k and would negotiate a 10k-15k allowance for kitchen work. Take it all day long. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted January 25, 2020 Share Posted January 25, 2020 10 minutes ago, revkevsdi said: You can't buy an empty lot here for $150 grand. It's nuts. 800 square foot bungalows start close to 600 grand. For another 600 grand you get 3 times the house, land etc. You can get a very nice, 2000 sq ft home here with a reasonably sized lot for $200k. The wages are low though. Wisconsin as a whole is a low wage state. My daughter bought a home in the Minneapolis area. It was $600k. That same home with similar land would be $275 here. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted January 25, 2020 Share Posted January 25, 2020 5 minutes ago, spin_dry said: You can get a very nice, 2000 sq ft home here with a reasonably sized lot for $200k. The wages are low though. Wisconsin as a whole is a low wage state. My daughter bought a home in the Minneapolis area. It was $600k. That same home with similar land would be $275 here. That will be one thing that makes it really hard for Canadians to compete against the US. If your major purchase is 3 times the cost then you need a lot more pay to survive. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 25, 2020 Share Posted January 25, 2020 50 minutes ago, revkevsdi said: That will be one thing that makes it really hard for Canadians to compete against the US. If your major purchase is 3 times the cost then you need a lot more pay to survive. If the cost of new construction is about $300 sqft, what exactly are you getting? Location, location, location. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted January 25, 2020 Share Posted January 25, 2020 17 hours ago, ManOnManOral said: How long have you lived in Manhattan? manhattan markets been soft for awhile now Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted January 25, 2020 Share Posted January 25, 2020 3 hours ago, spin_dry said: Bidding wars here for the $150 to 300k homes. Lots of loose credit at the moment. Over the last month I’ve had three realtor sharks ring my doorbell. Vultures not really overall the lending market is reminiscent of lending policies in mid 90's not mid 00's or late 80's Quote Link to comment Share on other sites More sharing options...
F3600 Posted January 25, 2020 Share Posted January 25, 2020 Not ready to sell just yet, kids need to finish HS but I recently had it priced by local realtor. The estimate was maybe 10-15k more than what we paid to build it in late 2006. Really shows how inflated that 2005-2008 housing bubble was. I also think its about peek for the area. Another interesting note...in 2006 on that same $550K value property taxes were $4500, now they are $7000. Quote Link to comment Share on other sites More sharing options...
revkevsdi Posted January 25, 2020 Share Posted January 25, 2020 1 hour ago, ArcticCrusher said: If the cost of new construction is about $300 sqft, what exactly are you getting? Location, location, location. You know all about location. 8th worse place in Canada. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted January 25, 2020 Share Posted January 25, 2020 22 minutes ago, Angry ginger said: not really overall the lending market is reminiscent of lending policies in mid 90's not mid 00's or late 80's People are buying with 0 and 5% down. That seems loose to me Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 25, 2020 Share Posted January 25, 2020 1 hour ago, revkevsdi said: You know all about location. 8th worse place in Canada. Ah huh. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 25, 2020 Share Posted January 25, 2020 1 hour ago, spin_dry said: People are buying with 0 and 5% down. That seems loose to me Real estate is best purchased leveraged. There is no case today with low rates to pay it off soon. Your money is better off invested, unless you can use a prescribed rate loan. Quote Link to comment Share on other sites More sharing options...
washedupmxer Posted January 25, 2020 Share Posted January 25, 2020 5 hours ago, spin_dry said: Bidding wars here for the $150 to 300k homes. Lots of loose credit at the moment. Over the last month I’ve had three realtor sharks ring my doorbell. Vultures Did they run off screaming after you opened the door? Quote Link to comment Share on other sites More sharing options...
spin_dry Posted January 25, 2020 Share Posted January 25, 2020 Just now, washedupmxer said: Did they run off screaming after you opened the door? You open the door to those weasels? God you’re dumb. Quote Link to comment Share on other sites More sharing options...
washedupmxer Posted January 25, 2020 Share Posted January 25, 2020 Just now, spin_dry said: You open the door to those weasels? God you’re dumb. Ya it's best for all you hide Quote Link to comment Share on other sites More sharing options...
spin_dry Posted January 25, 2020 Share Posted January 25, 2020 16 minutes ago, ArcticCrusher said: Real estate is best purchased leveraged. There is no case today with low rates to pay it off soon. Your money is better off invested, unless you can use a prescribed rate loan. Of course. That’s an obvious choice. The point I was making is I know people with mediocre credit that are buying homes with 0 down. Knowing what I know about them, it seemed like high risk lending. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted January 26, 2020 Share Posted January 26, 2020 2 hours ago, spin_dry said: People are buying with 0 and 5% down. That seems loose to me thats been the case for decades and the 0 down loans (RD and VA) actually perform fairly well. Shitty borrowers end up in FHA loans but thats been the case for all but the early to mid 00's. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted January 26, 2020 Share Posted January 26, 2020 3 minutes ago, Angry ginger said: thats been the case for decades and the 0 down loans (RD and VA) actually perform fairly well. Shitty borrowers end up in FHA loans but thats been the case for all but the early to mid 00's. So same old, same old. Quote Link to comment Share on other sites More sharing options...
NaturallyAspirated Posted January 26, 2020 Share Posted January 26, 2020 6 hours ago, Snake said: I'd sell my 1/2 acre, 2400 sq ft home, 4 br 2 bath, 2 car, 20x40 inground for 275k and would negotiate a 10k-15k allowance for kitchen work. Take it all day long. I'd do $300,000 on my place. Neal Quote Link to comment Share on other sites More sharing options...
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