Gold Member 800renegaderider Posted May 23, 2023 Gold Member Share Posted May 23, 2023 1 hour ago, ViperGTS/Z1 said: Not around here.....very low inventory and bidding wars still going on. House down the street very similar to ours was listed for $599k and they ended up getting $800k. I am considering retiring again 😜 around July and may list house and if we get anywhere near that figure....I'm out . Just crazy prices still....thought it would have tanked by now. But realtor I talked to says they have a waiting list a mile long and thinks if interest rates drop, this buying spree will last well into next year. Same here from what I can see no inventory but like the article said why would anyone sell that bought or refi and got a sub 3% rate likely never see that again at least anytime soon. My parents sold their house couple weeks ago same day it was listed hours after hitting market 75k over asking. The crazy thing is they built the house less than 3yrs ago and pretty much almost doubled their money. 2 Quote Link to comment Share on other sites More sharing options...
1jkw Posted May 23, 2023 Share Posted May 23, 2023 Wife and I have been driving by this place for sale 2 years, we said they missed the boat because it didn't sell when rates were low no way it would sell now, about a month ago it sold can't imagine the payment with rates this high. Quote Link to comment Share on other sites More sharing options...
Edmo Posted May 23, 2023 Share Posted May 23, 2023 11 hours ago, snoughnut said: There won’t be a housing crash like we saw back in 2008. Getting juicy deals on real estate like we saw back then isn’t happening anytime soon. I agree, the demand is just too high right now. Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted May 23, 2023 Author Share Posted May 23, 2023 VRBO/Airbnb and rental properties should be interesting... when the recession comes. Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted May 23, 2023 Share Posted May 23, 2023 10 minutes ago, Crnr2Crnr said: VRBO/Airbnb and rental properties should be interesting... when the recession comes. My nephew bought a house that he subdivided for that very purpose, and did well until Covid hit. Zero. I got burned with a deposit on a rental a few years ago with Airbnb, friggin guy sold the place and didn't tell the new owner we had it reserved first week of July. We got some of the deposit back from the company, but the whole concept is sketchy to me. The recession is pretty much here, albeit a mild one. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted May 23, 2023 Share Posted May 23, 2023 Over the winter I spent 3 weeks camped at Quartzsite AZ. A lot of the full timers sold their homes, cars, and what ever else was driving them nuts. We all discussed how stress free it is not having oodles of shit and being able to pull up and go whenever you want. Many sold their homes at the top of the market and banked the cash. I sold off the house, vehicles, and rental units. It was the best decision I ever made, although it was terrifying at the time. So many people are totally stressed out right now. A lot of fear. Quote Link to comment Share on other sites More sharing options...
snoughnut Posted May 23, 2023 Share Posted May 23, 2023 31 minutes ago, spin_dry said: Over the winter I spent 3 weeks camped at Quartzsite AZ. A lot of the full timers sold their homes, cars, and what ever else was driving them nuts. We all discussed how stress free it is not having oodles of shit and being able to pull up and go whenever you want. Many sold their homes at the top of the market and banked the cash. I sold off the house, vehicles, and rental units. It was the best decision I ever made, although it was terrifying at the time. So many people are totally stressed out right now. A lot of fear. Well, there's really only 2 things to fear right now, the Biden admin. and those people you speak of must be up to their eyeballs in debt. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted May 23, 2023 Share Posted May 23, 2023 Just now, snoughnut said: Well, there's really only 2 things to fear right now, the Biden admin. and those people you speak of must be up to their eyeballs in debt. Anyone that lives in fear of the Biden administration, or any administration for that matter, has some deep seeded problems. They need to seek help. 1 Quote Link to comment Share on other sites More sharing options...
snoughnut Posted May 23, 2023 Share Posted May 23, 2023 Just now, spin_dry said: Anyone that lives in fear of the Biden administration, or any administration for that matter, has some deep seeded problems. They need to seek help. The people who need to seek help are the radical Democrats within the Biden admin. and most of them appear to be beyond help...........facts. Just complete utter retards. 1 Quote Link to comment Share on other sites More sharing options...
spin_dry Posted May 23, 2023 Share Posted May 23, 2023 48 minutes ago, snoughnut said: The people who need to seek help are the radical Democrats within the Biden admin. and most of them appear to be beyond help...........facts. Just complete utter retards. The same is true for the kooky MAGA crowd and their odd conspiracies like Qanan. Utter retards. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Steve753 Posted May 23, 2023 Platinum Contributing Member Share Posted May 23, 2023 20 minutes ago, spin_dry said: The same is true for the kooky MAGA crowd and their odd conspiracies like Qanan. Utter retards. Trump also pushes those conspiracies. Yet here you are in other threads supporting Trump. Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted May 23, 2023 Author Share Posted May 23, 2023 2 hours ago, DriftBusta said: My nephew bought a house that he subdivided for that very purpose, and did well until Covid hit. Zero. I got burned with a deposit on a rental a few years ago with Airbnb, friggin guy sold the place and didn't tell the new owner we had it reserved first week of July. We got some of the deposit back from the company, but the whole concept is sketchy to me. The recession is pretty much here, albeit a mild one. the VRBO Airbnb model can work if there's little to no debt... but folks were buying these type of rental properties during the boom and financing them. I rented a VRBO for December in the Bahamas, which we're looking forward to. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted May 23, 2023 Share Posted May 23, 2023 43 minutes ago, Steve753 said: Trump also pushes those conspiracies. Yet here you are in other threads supporting Trump. It’s really quite sad that he remains the most qualified. He’s a very poor quality candidate. Yet look at the alternatives. Quote Link to comment Share on other sites More sharing options...
snoughnut Posted May 23, 2023 Share Posted May 23, 2023 14 minutes ago, spin_dry said: It’s really quite sad that he remains the most qualified. He’s a very poor quality candidate. Yet look at the alternatives. He's a savior compared to the absolute pile of excrement that currently resides in the WH. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member ViperGTS/Z1 Posted May 24, 2023 Platinum Contributing Member Share Posted May 24, 2023 23 hours ago, 800renegaderider said: Same here from what I can see no inventory but like the article said why would anyone sell that bought or refi and got a sub 3% rate likely never see that again at least anytime soon. My parents sold their house couple weeks ago same day it was listed hours after hitting market 75k over asking. The crazy thing is they built the house less than 3yrs ago and pretty much almost doubled their money. Yup just insane here......the value of my home went up 17k in the last 30 days according to Zillow for what it's worth. Probably valued at it's highest it's ever been... Definitely no crash......so far. 2 Quote Link to comment Share on other sites More sharing options...
racinfarmer Posted May 24, 2023 Share Posted May 24, 2023 12 hours ago, Crnr2Crnr said: VRBO/Airbnb and rental properties should be interesting... when the recession comes. One of the things some Democrats in MN were pushing this last legislative session was to outlaw corporate ownership of single family homes, in an effort to curb the AirBnB/VRBO stuff. Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted May 24, 2023 Author Share Posted May 24, 2023 (edited) 9 hours ago, racinfarmer said: One of the things some Democrats in MN were pushing this last legislative session was to outlaw corporate ownership of single family homes, in an effort to curb the AirBnB/VRBO stuff. was that abb/VRBO related or because big investment groups were buying up property? Edited May 24, 2023 by Crnr2Crnr Quote Link to comment Share on other sites More sharing options...
Gold Member EvilBird Posted May 24, 2023 Gold Member Share Posted May 24, 2023 9 hours ago, ViperGTS/Z1 said: Yup just insane here......the value of my home went up 17k in the last 30 days according to Zillow for what it's worth. Probably valued at it's highest it's ever been... Definitely no crash......so far. Mine is at its highest value ever also. Not as good as yours but Im Up $8750 last 30 days according to Zillow 1 Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted May 24, 2023 Author Share Posted May 24, 2023 6 minutes ago, EvilBird said: Mine is at its highest value ever also. Not as good as yours but Im Up $8750 last 30 days according to Zillow if you sold, what do you replace it with? we could downsize and get back out in the country and build new again but the land valuations and cost to build have skyrocketed and every builder I would consider is at least a year out. Existing properties in areas I'd consider are also up big time and I'm unlikely to buy used due to remodeling and repair costs. It's almost like the used car and truck market. Quote Link to comment Share on other sites More sharing options...
Gold Member EvilBird Posted May 24, 2023 Gold Member Share Posted May 24, 2023 6 minutes ago, Crnr2Crnr said: if you sold, what do you replace it with? we could downsize and get back out in the country and build new again but the land valuations and cost to build have skyrocketed and every builder I would consider is at least a year out. Existing properties in areas I'd consider are also up big time and I'm unlikely to buy used due to remodeling and repair costs. It's almost like the used car and truck market. Oh for sure that is the problem. I am not going anywhere for quite some time but it sure feels nice to be up over 150k from what I paid. Esp since I felt like I overpaid back then. 1 Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted May 24, 2023 Author Share Posted May 24, 2023 15 minutes ago, EvilBird said: Oh for sure that is the problem. I am not going anywhere for quite some time but it sure feels nice to be up over 150k from what I paid. Esp since I felt like I overpaid back then. we built new in 2006 and are up significantly. daughter graduates hs next year and we don't need this sized house for two people but we'd likely spend as much or more to replace it with a smaller home. when the next downturn comes my tentative plan is to purchase acreage to build our retirement home on. that's if my wife hasn't killed me in my sleep by then. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member ViperGTS/Z1 Posted May 24, 2023 Platinum Contributing Member Share Posted May 24, 2023 28 minutes ago, Crnr2Crnr said: if you sold, what do you replace it with? we could downsize and get back out in the country and build new again but the land valuations and cost to build have skyrocketed and every builder I would consider is at least a year out. Existing properties in areas I'd consider are also up big time and I'm unlikely to buy used due to remodeling and repair costs. It's almost like the used car and truck market. That's where I'm in pretty good shape..... Already have my retirement home bought several years ago, thinking I was going to retire... so I don't have to sell high and buy another at a high price.....I just have to sell my current home at a high price.... And move right into my other........ But I have to make sure I want to retire and I'm not totally sold on the idea yet 1 Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted May 24, 2023 Author Share Posted May 24, 2023 Just now, ViperGTS/Z1 said: That's where I'm in pretty good shape..... Already have my retirement home bought several years ago, thinking I was going to retire... so I don't have to sell high and buy another at a high price.....I just have to sell my current home at a high price.... And move right into my other........ But I have to make sure I want to retire and I'm not totally sold on the idea yet solid plan Quote Link to comment Share on other sites More sharing options...
Sleepr2 Posted May 24, 2023 Share Posted May 24, 2023 20 hours ago, Steve753 said: Trump also pushes those conspiracies. Yet here you are in other threads supporting Trump. Yeah, leftists never believe “conspiracies “ Quote Link to comment Share on other sites More sharing options...
ICG Posted May 24, 2023 Share Posted May 24, 2023 (edited) I have been looking for a new home for over a year... 1). Inventory is thin too none existent. 2). Owners seem apprehensive to list homes, as they too don't know what they can buy 3). Seeing caveats on sales contracts, that void contract if seller can't find replacement property. 4). You only have a month or so after selling to purchase or be under contract, to avoid paying capital gains taxes on the sale. 5). Seeing + hearing the same lines....people asking three times more since COVID. With 4 parcels to sell. + close on, it's almost impossible to reinvest everything economically. This market sucks to be a buyer Edited May 24, 2023 by ICG Spelling / Grammer correction 2 Quote Link to comment Share on other sites More sharing options...
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