two years ago we bought our new house. 3 bedroom. 2 bath, attached garage, dining room and family room, 1750 sq ft on a 10,000 sq foot lot for $535k similar house up the street just sold for $750K
More real estate doom and gloom
- Thread starter Toshi
- Start date
http://www.forbes.com/sites/trulia/2014/03/28/what-housing-bubble-trulia-says-u-s-home-prices-still-5-undervalued/
After the sun comes up I'm calling a real estate agent about selling our house.
After the sun comes up I'm calling a real estate agent about selling our house.
I found out over the weekend my neighbor is $100k under water and hasn't paid a payment on is 2nd in over a year. I think my lady is about $40k under and I hope she can at least get flush before the next bubble.
Same guy with the 100k boat?
No, that's homeboy across the street. He has no toys, all sold when he got laid off. I heard he used to manage a Bed Bath and Beyond.
Homeboy next door (the house on the other side of us has been empty for 3 years) has a 24' Blue Water that was like $60k.
Is it that retards tend to buy boats... or do boats make them retarded? 
Those who buy ANYTHING (boats are worser) they can't afford are retards. A 20yr boat loan is a bad idea.Is it that retards tend to buy boats... or do boats make them retarded?
20 year boat loan? That takes retardation to new heights.Those who buy ANYTHING (boats are worser) they can't afford are retards. A 20yr boat loan is a bad idea.
Yeah... but they're retards.
3 hrs to prep the boatYeah... but they're retards.
3 hrs to drive to launch
3 hrs on water
3 hrs drive back home
yeah, i'd have to agree w/ you on that
errierly similar to DH racing
ftfy.
Takes you 3 hours to paddle the boat back to the dock?
Gawd I hope not. I'm getting some pictures and maybe even a video of this bitch on the water! I have 2 oars, but one is shorter than the other.
Rent is teh suck.
You can imagine what Jackson, WY is like.
No, no I can't. While housing and rent in Portland/Metro is also teh suck, leaving would suck a whole lot moar.
Well, FWIW, sh1t is back to insanity levels here in Jackson Hole.
The 1% indeed....they are having a buying party here.
The 1% indeed....they are having a buying party here.
i guess it's nowhere near the landslide?
The landslide is just a tiny little thing, all things considered. The only things threatened are a few 'working class' houses (which around here are $700k-1m) and some businesses. Nowhere near the real fat houses. Those aren't right in the main drag, in general.
There are properties for sale here up to $150 million. Wrap your head around that.
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I'll take two.
Prices here are insane in anywhere I would want to live. It looks like we will be in the sticks 18+ months if we have hope of getting close to even. But the rate of appreciation in the sticks is a fraction of what it is in town. After hitting a few cool bars just on the other side of the river, we have a new location to investigate. Almost pre burst prices in the nicer areas already.
FWIW much of the Bay Area is back up to insane, pre-bust levels, driven in part by another tech boom. SF in particular is nuts, whether you want to rent or buy. Glad I bought in three years ago at pretty much the bottom of the market.
We bought a fixer upper at the bottom of our market (last year, short sale).
From all comps in our area, if we turned around and sold it today, we would likely net $150-$250k without touching it. But we are looking to live in it, so we are gutting it to the walls, and basically rebuilding the entire house. We started gutting it this last weekend.
Exciting stuff.
From all comps in our area, if we turned around and sold it today, we would likely net $150-$250k without touching it. But we are looking to live in it, so we are gutting it to the walls, and basically rebuilding the entire house. We started gutting it this last weekend.
Exciting stuff.
Not here. While things have leveled out, it's certainly not going crazy the way I initially believed just a couple weeks ago. None of the real estate agents I contacted thought we could get much more out of this place than we paid for it 10 years ago. We couldn't justify selling just to move across town, even with the equity we have in the house. I think were staying till were payed off. 8.5 years +/-. :fingerscrossed:
We still have 11y7mo. 1st kid will be out of college by then.
28.5 years....... le sighWe still have 11y7mo. 1st kid will be out of college by then.
Good luck! I also bought something of a fixer on a short sale and immediately put a bunch of dough into renovations. It was a gamble but I really like the place and the value has gone way up. Some of my friends think I should sell, but that's a classic Catch 22 for someone who wants to stay in the area: Selling now would mean I'd have to pay an inflated price for another place, so I'm staying put.
That's what we decided. While I'm certainly not fond of Colorado Springs, it seems were not going anywhere anytime soon. We started looking at other places in town, but ran into exactly what you're talking about. Even had our house gained a whole bunch of value, everything else in town is keeping pace. Financially we'd be making a terrible long term decision. The upsides of staying put also has a value that's hard to put a dollar amount on.
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Just realized I closed on my house 4 years ago yesterday. Time flies.
I am happy / lucky I bought my house three years ago during the "bottom" when there were just 3-4 offers placed on every house for sale in my neighborhood. There was no price drop then and the prices have risen quite a bit since. Today, it is like 10+ offers per house for sale, most of them from wealthy Chinese who buy good schools for their kids.
Here is some data: http://www.bostonglobe.com/business/2013/06/29/foreign-investors-led-chinese-increasingly-purchase-boston-real-estate/Ewa6KkQeOusx0f0Ic7LesO/story.html
Here is some data: http://www.bostonglobe.com/business/2013/06/29/foreign-investors-led-chinese-increasingly-purchase-boston-real-estate/Ewa6KkQeOusx0f0Ic7LesO/story.html
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Has jobs, lacks housing.
Portland is getting worse, but there are still a lot of 'burbs that aren't a crazy long drive away with affordable housing unlike SF and Seattle. But the "cool" hoods are getting into the millions now for a house.
We did work on a $2m condo across the river from mass general last year. Dude bought it in case his daughter decided to go to school in Boston.
Just heard in NPR that houses under contract are up 20% over last year with prices up high single digits too.
And Mortgage rates are dropping, I think we are going to refi two properties to under 4 points this week...
we refi'd a year and a half ago to 15yrs when we could lock in 2.75. can't imagine we'd ever see that again. few extra payments here and there should get us out even faster.