So I’m in the market to get another home. Flying into boise tomorrow for a week. F Oregon.

With the current situation, or should I say the unknown situation and the future of US dollar. Do I buy or wait as the prices of homes are slowly dropping. the constant and rapid inflation is also killing me.
Not taking a loan. This will be a Cash deal

I did a cash deal or so the bank said with a heloc don’t do that

I bought our beach house on a cash deal 23 years ago. One of the best decisions I've ever made. Although my nickname for it is "weekend workaway".

It's nice to have somewhere to get away to if this is a getaway. Taking care of two places can be a bit much sometimes. Of course if you sell the current domicile that will not be an issue.

I guess with the "Eff Oregon" comment you are leaving for good.

I look at it like, " the best time to plant a tree was 20 years ago, the second best time is today".

ETA. The money issue is simple, how much quality time will you and your family (if you have one, IDK, and not a dig on you) miss out on while waiting for that perfect deal. Is that worth the cost. A lot of unknown variables here.
A buddy of mine used to say "this ain't no dressed rehersal get on it".

Good luck.

Prices have leveled off a bit but rents are still going ape schit.

I’d buy.

Hell, rates aren’t even that bad if you want a loan. It ain’t the nearly free money of a couple years ago, but I just signed up at 5.87%. I’ll take it.

Thanks.
Yeah sold the home in Portland. That place is a disgrace from what it was. I think Oregon is more woke now than Cali.

I Still have a property in S Oregon that I’ll use for residency, I got too many hunting points for deer, elk and antelope to let them go to waste. For now
I’ll be staying in my Palm Springs home and probably slowly work toward being a snow bird. But that’s 7 years way as my youngest is in 6th grade.
So I’ll be Doing Airbnb or short term rental in either when not there.

A buddy of mine said F Oregon a couple of years ago and moved his family to Caldwell, I think. He loves it.





P

I would not buy real estate right now unless I had to.

What is your reasoning? Thanks

It works if you have someone at both locations keeping an eye on the property. If a squatter or scam artist knows you're away...

I don’t have to buy.
I’m scarred To invest in the market right now., and as I said earlier . The inflation and uncertainty of dollar has me worried.. I don’t want to wake up and have half a mill be worthless or even less value then it was 6 months ago. Other properties are paid off.

Can you go into more detail and explain why wait?

Can you air bnb at the 2nd?

Reasoning? Just curious.

I saw lots of real estate sold within the last year for 5x assessed value

I just purchased a small fixer upper home. I was worried about the interest rates increasing also. When I asked my buddy, a banker that flips houses, about the interest rates, he replied "you'll still make money on the deal @ 5% interest". The housing market is only showing major decreases in the areas where the houses were selling way over value. The rest of the houses are pretty much stable. Seize the moment!

Most of Idaho is growing and likely will be for the foreseeable future. The Boise area is not for me but lots of folks like it there.

As always, follow the 3 rules of real estate.

The 3 rules are ?

If I didn’t have a wife who wants city amenities, I’d be good hour out of town in the sticks. Years ago I missed out a good deal on 10 acres in Prineville because she considered that po dunk. Now it’s probably worth 5x what I could have paid for it.

Boise is a good compromise for us.
We love Couer d’Alane, not sure she could deal with the long winters if we went full time.

Location ,location,location.

That’s it!

We have the cabin in Wabigoon, I inherited half of that. I doubt if I'd be interested otherwise.

lots of options in boise,nampa,meridian , caldwell

In all my years I have never lost a penny on real estate, when you buy is important but not as important as what and where you buy, just bought another house and land for cash a few weeks ago.i will take dirt over any stock in the market.they ain't printing any more dirt. Rio7

Just bought 45 acre last summer as a investment had to do it sort of thing

Rents are way up in Idaho. I don't know how people are affording it on our local wages but things just keep going up as out of states keep moving in. The Wasatch front in Utah is pretty much full. They are now predicting that everything from pocatello to St Anthony will fill in like the Wasatch front by 2050.

I bought my acre near rigby in 2017 for $22,000. Now these lots are bringing $105,000-$130,000.

I have a 4 bedroom 2 bath single family home in Rexburg that I rent out. 5 years ago I rented it for $950 and now it rents for $1700 and I'm still under market. Comparable homes are renting for $1900-$2200. I need to raise it again but I need to get the current renters out first. They are already always late and behind on rent as it is.

Bb

Well, there's your answer.

I have vacationed in Florida numerous times.

I would wait until a few ounces of silver would buy one.

Just saying

At the rate it's going up it want take long. I priced out 200.00 face value of Mercury dimes a couple weeks ago and it was 4900.. Checked today and it was 6200.!! Spot price over 25.00.
Procrastination is a killer.
Paralization by analization.

I’ve always been inclined to buy property when I could afford it and it’s always been a good thing. I tried to buy the slumps in the market, watch the price trends online like Zillow for the area and you don’t need to buy the bottom of the valley but wait until it stalls out or starts back up.
I have a VERY WEALTHY 2nd uncle who made his fortune in Texas real estate and listed to everything he said on the matter. Given timing was on his side, but he took advantage of it. He gave me some advice that was he always made his money on the buy, the market determines the sale price. He said history has always favored the land owners. And your home is your castle so buy what you want to live on that your income can support, don’t buy what you don’t want to live in because it’s a good deal, live where you want and let your portfolio support it. So far that’s worked out for me. Good luck.

I would never buy a second property.

Do it. Remember though, that money in real estate is made when you buy and not when you sell. Sure beats sitting on cash.

Lots of advice.

I would ask how old you are first. Then you determine how long the run will be with investment properties.

The younger, the greater the speculation. Rather than putting money into one property, whether cash or finance, you will always get a much larger return by spreading out the investment to several properties with money down on each, rather than totally paying for one. Then let the properties work for you and pay down their individual principals as you rent them out.

Well balanced property management will pay dividends and at the end of the loans, you have multiple properties to continue to profit from or sell and go fishing. It is a simple formula, but your age determines how much and how long you can afford to capitalize with multiple properties and loans that mature in a manageable timeframe…

Thank you,
I’m 43.

Boise is one of the fastest depreciating markets now in America. Id wait a bit

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Boise is one of the fastest depreciating markets now in America. Id wait a bit[/quote]

This is likely true. Home prices throughout most of idaho peaked last May. Rents still seem to be going up though. Home prices were crazy a year ago with most things selling before they could put a sign in the yard. Things have slowed down and prices have come down. But there is still quite a bit of demand coming from out of state.

Now we just have to wonder if prices will keep coming down with the biden economic collapse or will they rise again with the collapse of the dollar? It's a tough time to make a decision of what to invest in. I think many home values have dropped 20% in just the last year and have room to drop another 20 % but the value of the dollar is dropping quickly too.

Bb

I bought a $100 face bag from apmex on a sale about 1 month ago for $1850. I requested dimes so of course they sent silver quarters. I told my wife I'll either wait and sell them when they go up in a few weeks or hang onto them until I find a place with dimes where I can trade them.

I just looked and that same 100 face bag of 90% is now $3025 on Apmex. But, knowing Apmex they'd probably give me $1500 for the bag back. If I could get their price for mine I'd sell them. I much prefer mercury dimes and walking liberty of franklin 50 cent pieces to quarters. Just a personal preference.

I was trying to get to a $1000 face bag of Mercury's but it's not going to happen with these crazy premiums. I found some kast week at 23 times face for Mercury's and bought a few thinking that was too expensive. When I jumped online later and saw what junk was doing I drove back to town and bought everything they had at 23.

At spot value Mercury's should be about $1.80 each but right now they're over $3. It's weird that spot and premiums are both climbing at the same time. Premiums usually come down as spot rises. It could be getting ready for a big run.

Bb

Excellent advice, that...

That still needs to be handled correctly, whether or not they make more dirt, there is some dirt that’s not worth the money…

This is likely true. Home prices throughout most of idaho peaked last May. Rents still seem to be going up though. Home prices were crazy a year ago with most things selling before they could put a sign in the yard. Things have slowed down and prices have come down. But there is still quite a bit of demand coming from out of state.

Now we just have to wonder if prices will keep coming down with the biden economic collapse or will they rise again with the collapse of the dollar? It's a tough time to make a decision of what to invest in. I think many home values have dropped 20% in just the last year and have room to drop another 20 % but the value of the dollar is dropping quickly too.

Bb[/quote]

Home prices aren’t dropping as fast as I thought they would in the last year, that’s for sure.. The supply is low and the demand is still there. I just priced out an 800 sq foot addition for one of my clients, me and another GC both came in at around $500 a foot. For that kind of money I can buy a new house in Boise…. Not an addition. West coast is just stupid expensive.
From what I’m seeing, It’s more of a leveling off/maket adjustment. Not sure we’ll see another 2008 crash as banks had people put more skin in the game.
As you said the inflation and collapse of dollar has me questioning this decision.

As a good opening gesture, it's good form for each conservative moving to Idaho, to drive out 2 (minimum) Marxists.

I will happily and gladly contribute to that gesture

I agree. However my reasonings are based on my area not nationally. Property is coming down here and I don’t see any reason that trend will slow or stop in the near future. I think it may accelerate a bit.
If your looking at the same areas that other smart guys like you are interested in, those values may hold higher.
I would and I am selling some property right now.
Purely my opinion.

Osky

I bought a second home 15 years ago and it’s been the best decision I ever made. Prices in the area were declining, but I didn’t buy at the bottom of the market. Still, the enjoyment has overcome any supposed investment issues.

I bought it for my pleasure and that has paid back in spades.

I like your question. I have difficulty pulling the trigger when the market is volatile. I've noticed when home prices retract they usually don't drop as much on the places I like. Personally, I'd look for a place that really sparked my interest and make an offer, based on my valuation. The only time I wouldn't make an offer is when there's a bidding competition. People like to say the prices are dropping in certain markets, but often it's the less desirable lots. Some of the best lots never make it to the market. Family and friends hear about the owner thinking of selling, and she gone. Lol

South Texas, Prices are doubling almost every 3-5 years for ranch land with no improvements ,small places are almost out of sight, here 40 acres is very small.10 acres almost does not exist. only place you will find lots is in town or very close to town. Mc Allen, is the fastest growing city, in Texas. Rio7

Where was this?

Virginia

Land, silver, gold, big fuggin' high dollar pianos, farm implements.

Anything that will hold value is a good bet.

People will be wiping their asses with 100 dollars bills in 10 years.

Because prices have peaked and are on the way down, I would wait until they bottom and start coming back up. But that's based on my area, every market is different.