Home Forums Hunting & Shooting Hunter's Campfire Home purchase

I don't understand why folks are so shocked about the prices. People are running from the northern and coastal liberal communist high crime, locked down schitholes. They'll do anything to get out of there. Can't say that I blame them. It's not going to slow down here. Plus, We've got DeSantis as governor.. for now. He just signed another EO against county school boards and the commie teachers' unions re: masks for kids in school. Welcome to free America. Let the liberals suck on what they've created.

What gets me is everyone who is banking on it dropping.
It may lower a little slightly when it stabilizes but it'll never drop back to precovid times. Anyone who is "cashing in" will be living in a van down by the river unless they hold a place in reserve to fall back on, even then with inflation your cash position strength will erode daily.
I hope I'm wrong. If you think I am then please tell me what's gonna happen long term in your mind.

Sold my dads house within a week.
There are groups going round w cash trying to buy up areas....to make rentals.

Even in nicer neighborhoods.

When it crashes all.the housing will drop in value, like 2008.
Iguess they think folks will lose their homes and need to rent after?

Some towns will be hit harder than others.

Note: the cash offer folks buying rentals aint going over asking price. However, those buying for themselves are.....wonder how that competition influences prices here.

The ol ladys kid bought an older nice home in good school district for 5% over asking. She missed out of two others where folks bid up to 15%.

Work from home got her a new gig making more $, so she thinks, like many others......she can afford the place

Still a dumbass, so when the crash comes she will probably end up losing it ( her husband a POS ).

Long term?

Stay where I am and buy some hunting ground after the crash.

😎

I had a very nice summer home on a small lake in the Poconos, sold for $100K more than I paid for the house. Chinese feller from NYC came up with all cash. We did have a home inspection, they found a couple of small things. Told him I'd give him $1K credit, if not, get your deposit back from the real estate agent, we closed shortly thereafter.

Not unless interest rates are hiked to control inflation
Demand is way out pacing supply which is still being suppressed by supply chain issues. Any rural areas will continue to see growth as the urban flee continues.

The broader economy, specifically the service industry and retail is what would worry me, and the local economies of the large cities.
Like shopping malls, theyll be ghost towns.

These high prices sound good. It is not. Broad ownership of real estate, land or homes, is a societal stabilizer.

I'm not sure the next crash will be like the last crash.

I don't think we're in Kansas anymore.

I don't know how the middle class can afford to live and pay taxes.

Our malls have lost mid level stores and replaced them w low level. Think there 3 tennis shoe stores in one, but then again our local gov ( dems ) built new housing for a chitload of big city transplants.

WTH is it w blacks wearing red tennis shoes?
Gang stuff or just look at me nonsense?

Have to admit, aint seen a purple GM land yacht for ages.
But Jeeps on 24" rims theres been a few.

Fuggin idiots

Interest rates control house prices. Right now the selling trend will continue since rates are so low.
The Fed just announced they have no plans to push rates up until maybe 2022.

We're not moving, unless it's to an assisted care place someday. Bought this house in 1985 for $85k and paid the 20-yr mortgage off about 15 years later. We did a $100k renovation eight years ago. The official tax valuation is now at $366k and knowledgeable people tell us they'd list it for no less than $495k if we decided to do so. Likely it'd bring more, as discussed here.

But...as mentioned, the facts are that the money we'd pocket for selling would be gone in the trade for the next place.

my house is finally going up in value. i bought in 99 at the height of a boom around here and paid top dollar because i had sold out elsewhere and needed a house and this was exactly where/what i wanted. it stagnated for 10 or so years but according to zillow it is now worth about 3 times what i paid, not counting all the crap i've done like roof, electrical, kitchen, outbuildings, etc. and they are building some real nice cribs around here going for 600+ which is doing nothing but helping our value. but it ain't doing me any good. i ain't going nowhere.

Yep, and everyone home value goes up along with it at tax time.

Son sold his house for 27k over asking g in 3 days. Then finally bought one 25k over after loosing 3 at 20k over offers. Lady he bought from Cant find one to buy yet including offering 70k over on 1

Given the market shouldn't you buy first then sell?

Or young couples starting out can afford to get started.

Yes, and as soon as they get to somewhere else, they immediately start working on turning the new place into another locked down, high crime liberal schithole.

The two house I sold are not the house I live in. Both houses I bought on active duty and served as my primary residence for a few years before becoming rentals. One of them was a struggle to keep occupied and well managed over the years, and would have been a money loser until the market rebounded for the first time in over ten years this past winter. I was able to recoup my investment in full with a little left over, and very happy to be done with it.

The second one I have personally managed from afar and have had the same tentants since moving out 6 years ago. The house is close to 40 years old and could use numerous upgrades, to the tune of 30k+. However the market is strong enough now to sell as is. I am selling to the tentants. I made the decision to sell now a year ago. I gave them a year to come up with financing. I am pocketing 30k more than I expected to last summer, plus an a additional year of equity and small monthly rent profits. No down time, no upgrades. If I had kicked them out and just sold as is I probably could have done a little better in the months of June and July.

I still own 3 other houses that are not rentals that I am not even considering selling.

I just spoke to a friend yesterday who is an agent an the market where I lived has cooled in the last 3 weeks. They don't know if it is temporary or the beginning of a downward trend. I have been in the real estate game long enough to know that it swings widely and once prices come down it can take many years for them to recover. Now is the time to sell investments if you don't plan on holding on to them for life.

I'm loud and proud when I talk do any of those squirters from NY, NJ, MA, CA, IL and others. I tell them flat out, if you're still voting for the communists, GTFO. We don't want you here. Sorry, no white kid's gloves here.

Things here are beyond insane. Beyond.

Buddy bought a house for a little over 300k couple years ago, just closed on it at 680k. If I listed my place I could easily double my money and move. But I'm a ways out from retiring yet, and I don't buy houses with the intent of flipping them any more than I do vehicles or guns. I buy what I want and use the piss out of it. I'd be lying if I said it wasn't tempting though lol.

Lots of folks around here that were renting and saving money to someday buy their own got turned out on their asses because the landlord sold the house out from underneath them. Now they can't afford going rate on rentals, and sure as fugk can't buy anything. Borderline criminal what's been happening.

When I win the lotto I'm going to buy a bunch of lots in Wokefish and drag singlewides in and let my lawyers litigate it with the city. Going to set up businesses too and deny service to anyone without a MT DL.

Went into the bank to get my daughter set up with a checking account, and as she's a minor I'm on it to so it's linked to my other accounts with them. Banker dude made a point to congratulate me on my mortgage interest rate lol. Weird dude, I just said yeah we refinanced. Thanks for that, saved me a ton of dough.