In order to participate in the GunBroker Member forums, you must be logged in with your GunBroker.com account. Click the sign-in button at the top right of the forums page to get connected.
Options
the price of housing
varian
Member Posts: 2,250 ✭✭✭✭
my son and his wife are looking to buy a little better home than they currently live in. they are in their early thirties with good jobs in the defense contractor business. they are looking for about a 2500+- sq foot home. in the area he's in these homes are going for 375 to 400k. he has placed bids on three homes so far but hasn't even been close to getting them. people are bidding 15 to 30k above asking price and putting in their bid stating 'no appraisal necessary". in other words i have the money and will write you a check. where in the wide world of sports are people getting all this money. and by the way this is not in Hawaii, or Calif. but in Alabama.
Comments
Same around here. Put something on the market for 300,000 and it seems to start a bidding war, 50.000 more at least.
Some of those folks are going to be underwater in a few years.
Yep, history repeats itself.
Was talking to a realtor the other day, said she had nothing for sale but that was about to change.
Go figure.
Banks are going to go bust again when foreclosures come about again in the future. 2008 all over again..except the Credit Card folks will get to play also. Sit tight.. the housing will get cheap.. be patient. Was going to sell the remainder of my rentals but have decided not too. Rental property is inflation proof. When everything else goes up from inflation so does rent. I will most likely get a rental agency to handle them.
Houses are selling here sight unseen to folks out of state. It's just crazy. The average single family house is now $875K.
even out in the BFE area where we live houses are going nuts (
side note farm land is out of sight the established farmers (well all of them 😁 ) have blank checks and pay what ever it takes using other farms as collateral if not just cash .
but back to the houses there was a older farm house next to my sons place I would never guessed the selling price at the most even counting demand my guess was100k maybe 110k at the most, but the fellow paid 175k less than a year ago thats what my son told me after the fellow bought it . I was in shock and still am but its just crazy as stated most are paying well over the asking price to get the house they want
I remember as a kid hearing many times the quote from Will Rogers who said buy land there not making any more of it .
I found this though 🤨
"Buy land—they’re not making any more of it” is a statement that has been attributed to folk humorist Will Rogers (1879-1935) since the 1960s. The saying—like almost all American sayings—has also been attributed to Mark Twain (1835-1910
The money is coming from all the Kalifornia tech kids. They are all leaving Kali for points scattered across the US. They can buy for cash in other states and work remotely. They are also spreading their Kali-Kommie rainbow beliefs.
I am not a fan of Kali Kidz
Ever since Ford Announced the battery plant here in Glendale, KY things have been a bit crazy.
Talk is they will need 1,000 houses immediately for the staff who will supervise construction and training of new hires plus another 2K or so as plant gets into production.
We built just before the lumber price exploded and have owned the land for 20 years. Values are going crazy.
I live in a "resort" area where housing prices far exceed affordability for any middle class income level. Problem finding service workers who cannot find housing in the area makes that old expression "To many Chiefs and not enough Indians" very relevant!
My girlfriend's daughter lives in a nice suburb N. side of Atlanta. Houses in the $350 to $450K range. She told me that a house will go on the market at $420K, and in one hour will be sold to a buyer in Chicago for $460K. Ten percent above asking, and the buyer has never seen the house! It is crazy.
When we sold our last house we tripled the price we paid for it. Our current house has almost tripled in value over what it cost to build it. So far we don't have any plans to sell it, but that may change if one or both of us need to go to an old folks' home.
Joe
Must be the same all over the country.My daughter in law is a very good real estate agent and as made more money the last couple of years than I ever thought possible.I sold my moms house last year.In 2 hours we had a cash offer 10 thousand over asking price.We know this cant go on, if it does in a few years a mobile home on a quarter acre will cost a million dollars.
This might say more about the "dollar" than the house.
That mobile home story is not that far fetched! A new 14 x 70 single wide mobile home sitting on a 4 acre plot in the low scrub\swamp lands a mile from me sold for 175 thousand dollars about a month ago.
The $5,000,000,000,000 that they printed up over the last few years has to go somewhere.
That is why we are seeing all this inflation.
In a few years we may be allowed to pay off these folks houses they cannot afford and are worth much less than when they bought them along with their kid's school loans. YAAAAAA!!!!
Sadly this country is full of Slimy Freeloaders who gobble up government handouts and don’t care who is paying for their greed
Sign me up. I am in for a few foreclosure homes that folks get upside down on. Their problem not mine.
This November you will learn why it was that so many Californians moved into your state. They did it to Colorado, now they are doing it to you.
I think you misunderstood, WE have to pay for it but THEY get to keep it! You know, the good ole comi way!
They don't get their cake and eating it too....
Oh but they DO! It has happened before with the Dems in charge! I hate to break it to you, but it will be the BANKS fault AGAIN and we(tax payers will get hosed....AGAIN)🤬🤬🤬
Yup. Remember the savings and loan crisis? What about Cash for clunkers?? Not that was a great idea if the plan was to screw up the whole car sales business, and maybe it was.
Tell them to wait a couple years. There will be subdivisions full to pick from at greatly discounted prices. The SHTF before long plenty of history to back it up.
They get the street from losing their homes. Rents go up.
My son lives in Montreal and three years ago he and his wife bought a house for $525,000, they sold it last month for $868,000.
We bought our house in Tampa for $265,000 when we sold it two years ago we got $435,000 for it and it sold to the first person that looked at it, all told it took a little less than 24 hours to sell, the guy we sold it to flipped it for $485,000. three months later.
I sure am glad that we aren't out there looking now as there aren't many homes for sale now and nothing worth what folks are asking for them.
Bought one of my rentals about six years ago for 125.000. Sold it last week for 429,000. Thinking about selling the other one before the market collapses. These prices are ridiculous. Best investment, we ever made.