Average home price in the valley is right around 900K...
Average house in the flathead is now $550, Bozangelas was around $800k. Lots of out of state money flooding in. To put it in perspective, Bozeman is now priced about the same as Maui Hawaii ..
Average home price in the valley is right around 900K...
Average house in the flathead is now $550, Bozangelas was around $800k. Lots of out of state money flooding in. To put it in perspective, Bozeman is now priced about the same as Maui Hawaii ..
With a similar or worse job market and half a year of winter. Lol.
It’ll be interesting to see how long/far the market goes in places like W MT an N Idaho.
Average home price in the valley is right around 900K...
Average house in the flathead is now $550, Bozangelas was around $800k. Lots of out of state money flooding in. To put it in perspective, Bozeman is now priced about the same as Maui Hawaii ..
Read a news story the other day that stated over 10% of the new residents moving into the Flathead last year had a combined household income in excess of $600K a year.
They have no problem with the current housing prices.
Average home price in the valley is right around 900K...
Average house in the flathead is now $550, Bozangelas was around $800k. Lots of out of state money flooding in. To put it in perspective, Bozeman is now priced about the same as Maui Hawaii ..
Right?!
We are scheming on a house swap in Hawaii with one of our rentals here, living in each for half the year and renting out the other would pay enough to retire.
Average home price in the valley is right around 900K...
Average house in the flathead is now $550, Bozangelas was around $800k. Lots of out of state money flooding in. To put it in perspective, Bozeman is now priced about the same as Maui Hawaii ..
With a similar or worse job market and half a year of winter. Lol.
It’ll be interesting to see how long/far the market goes in places like W MT an N Idaho.
that's what Im wondering. Ive been sitting on an acre of lake front I bought 2 years ago hoping building prices will drop when the demand lessons. I have a custom builder just quote me $240 a sq foot for a nice spec home. I cant believe all the toys young families have here after buying a $600K home and wages aint high here.
Average home price in the valley is right around 900K...
Average house in the flathead is now $550, Bozangelas was around $800k. Lots of out of state money flooding in. To put it in perspective, Bozeman is now priced about the same as Maui Hawaii ..
With a similar or worse job market and half a year of winter. Lol.
It’ll be interesting to see how long/far the market goes in places like W MT an N Idaho.
that's what Im wondering. Ive been sitting on an acre of lake front I bought 2 years ago hoping building prices will drop when the demand lessons. I have a custom builder just quote me $240 a sq foot for a nice spec home. I cant believe all age toys young families have here after buying a $600 home and wages aint high here.
No one is concerned about the upcoming recession
It's going to be unpleasant for a while when it pops. I've been contemplating selling my current place and sitting out what's coming some place warm and tropical rather than ride it down.
My oldest son purchased a 4000 sq ft.beautiful brick home in a newer very nice neighborhood in Bloomington, Illinois for $89/sq ft a.year ago. It's nearly $300 per sq ft here in St George. I guess it is indeed location.
Folks seem oblivious to the economic tsunami that’s coming. How much more sign do they need?!
I remember 2007 and and said the same. Everyone was way over extended on credit like now with a down trending economy. Like last time it was a financial criss created by our government
Folks seem oblivious to the economic tsunami that’s coming. How much more sign do they need?!
I remember 2007 and and said the same. Everyone was way over extended on credit like now with a down trending economy. Like last time it was a financial criss created by our government
It's a 10-12 year cycle and most people only have a 5 year memory. You would think it planned
Payment deferrals for those who had China flu financial issues will start talking a toll on the economy in June. Deferred house payments don't go against a person's credit score, so that means they can borrow even more money that they can't afford to pay back. My feeling is, those who are fiscally responsible will be paying for those who aren't and will get screwed again. Sorta like the student loan forgiveness BS.
Interest rates have nearly double in the past 4 months but things are still holding fairly well here. Building and material costs are through the roof and the market is demand driven by the genuine need of homes and not just speculation as in 2008.
Hard to say what's going to happen but I'm wondering if I should sell one of my homes now in anticipation of the coming crash. Inflation is the wild card right now. The economy could crash and as the dollar goes with it homes could still climb.
I'm not sure what my crystal ball says but a week or so ago my investment advisor told me I needed to get back in the market because the Dow was likely going to be 36000 this week. I told him my ball says 33000 next week. He just called and asked to borrow my ball. I said call my wife, they're in her purse. He didn't get it.
Time for a new advisor. He only holds about $200k of my retirement but his high fees effect my actions and often hold me back from what I what to do.
Someone got a link for the most recent investment thread? I need some ideas. Everything is confusing right now but I'm more fearful for the future than ever. I hate not having my money working in someway though so I'm tired of the sidelines.
Houses near the big city are selling faster than they can get built. High percentage of them are being bought by outsiders especially from California.. not too sure it's such a good thing.
Interest rates have nearly double in the past 4 months but things are still holding fairly well here. Building and material costs are through the roof and the market is demand driven by the genuine need of homes and not just speculation as in 2008.
Hard to say what's going to happen but I'm wondering if I should sell one of my homes now in anticipation of the coming crash. Inflation is the wild card right now. The economy could crash and as the dollar goes with it homes could still climb.
I'm not sure what my crystal ball says but a week or so ago my investment advisor told me I needed to get back in the market because the Dow was likely going to be 36000 this week. I told him my ball says 33000 next week. He just called and asked to borrow my ball. I said call my wife, they're in her purse. He didn't get it.
Time for a new advisor. He only holds about $200k of my retirement but his high fees effect my actions and often hold me back from what I what to do.
Someone got a link for the most recent investment thread? I need some ideas. Everything is confusing right now but I'm more fearful for the future than ever. I hate not having my money working in someway though so I'm tired of the sidelines.
Bb
I watch this guy’s channel for market analysis
Problem is the market is much different than a few years ago and very volatile and unpredictable. Huge week to week swings. Staying out for awhile
As long as the marxist planted DA's in the Northeast keep letting criminals out of jail in 24 hours with no bail, our area will continue to be flooded with squirters from those locations - NY, NJ, MA, MD. And prices will not come down. Starting to see a lot more CA plates here, too.
We are overrun with Californians and they keep coming. It used to be when I went to Costco I might see one group of no English speaking obvious foreigners there. Lately every trip there are a half dozen to a dozen family groups of foreigners there.
I was behind a group the other day that spoke no English and paid with some sort of government gift card. I think the government may be giving the illegals flooding into our country gift cards that get them into Costco too.
Within the last year things have really change as far as the number of foreigners shopping there goes. And they aren't buying only stuff you'd by on vacation. They're often buying furniture, kitchen ware, tvs etc. My years in marketing made me interested in people watching in stores.
What's going on in California is not what's going on in the rest of the country. If someone is investing in real estate with no money down, they will be getting over there head. I don't owe a dime on my properties. As a result I don't really care what happens. I absolutely do not see the prices of houses doing some big drop. The biggest reason is we are 4 million houses behind the demand. With skilled labor retiring and not having good labor out there it's even more difficult to play catch up. In the last 40 years of real estate, there has been one real estate crisis and is was created by government loaning money to people that can't afford it. The answer the market has come up with for the price of houses, is home loans going out to 40 years. PLEASE to not be conned into that. You will pay for that house multiple times with the interest. The longer the loan the higher the interest. Home sales did NOT slow down during the Carter administration. People still need a place to live whether they rent or buy.
What people need to do is focus on getting out of debt so they can purchase more home, and so they can deal with the inflation. If you add up all your monthly payments you will see how different your situation will be if you were totally out of debt.
There were a couple thousand homes burned in forest fires year before last. Combine that with the already low inventory and people fleeing California and prices are nuts here. I don't see it changing drastically any time soon.
Most homes are being sold sight unseen other than the listing pictures and are going for $25k - $50k (or more) above the asking price. Cash deals and buyers are waiving any inspections, buying as is.
Buddy of mine over on the coast in Seal Rock just sold his place for $40k over asking and had a back up offer come in of $60k over.
Interest rates don't mean anything to someone with cash.
Average home price in the valley is right around 900K...
Average house in the flathead is now $550, Bozangelas was around $800k. Lots of out of state money flooding in. To put it in perspective, Bozeman is now priced about the same as Maui Hawaii ..
With a similar or worse job market and half a year of winter. Lol.
It’ll be interesting to see how long/far the market goes in places like W MT an N Idaho.
bad job market bozeman?.....some people like winter....bob
Houses near the big city are selling faster than they can get built. High percentage of them are being bought by outsiders especially from California.. not too sure it's such a good thing.
It is a good thing for those of us with inventory to move. I went early so lost out on some revenue, but a few locales are starting to cool off.
The really hot spots are going to keep going for a good while since rate hikes won't affect them much, cash buyers are the only ones getting anything anyway.
Average home price in the valley is right around 900K...
Average house in the flathead is now $550, Bozangelas was around $800k. Lots of out of state money flooding in. To put it in perspective, Bozeman is now priced about the same as Maui Hawaii ..
With a similar or worse job market and half a year of winter. Lol.
It’ll be interesting to see how long/far the market goes in places like W MT an N Idaho.
bad job market bozeman?.....some people like winter....bob
The only bad job market here is on the employer side of the equation. They haul in 'help wanted' signs by the train car load. Many restaurants are on a 3 to 4 day a week schedule simply because they can't staff for any more than that.
Average home price in the valley is right around 900K...
Average house in the flathead is now $550, Bozangelas was around $800k. Lots of out of state money flooding in. To put it in perspective, Bozeman is now priced about the same as Maui Hawaii ..
With a similar or worse job market and half a year of winter. Lol.
It’ll be interesting to see how long/far the market goes in places like W MT an N Idaho.
bad job market bozeman?.....some people like winter....bob
The only bad job market here is on the employer side of the equation. They haul in 'help wanted' signs by the train car load. Many restaurants are on a 3 to 4 day a week schedule simply because they can't staff for any more than that.
How many of your restaurant staff are buying $800k homes?
Wages in Bozeman can’t pay for homes in Bozeman. It’s transplant money.
Average home price in the valley is right around 900K...
Average house in the flathead is now $550, Bozangelas was around $800k. Lots of out of state money flooding in. To put it in perspective, Bozeman is now priced about the same as Maui Hawaii ..
With a similar or worse job market and half a year of winter. Lol.
It’ll be interesting to see how long/far the market goes in places like W MT an N Idaho.
bad job market bozeman?.....some people like winter....bob
The only bad job market here is on the employer side of the equation. They haul in 'help wanted' signs by the train car load. Many restaurants are on a 3 to 4 day a week schedule simply because they can't staff for any more than that.
How many of your restaurant staff are buying $800k homes?
Wages in Bozeman can’t pay for homes in Bozeman. It’s transplant money.
true on some transplant......bozeman is becoming more and more high tech.....strong collage and medical......they want to be like Seattle and the like.....bob
It would take a lot of people defaulting on mortgages to cause a severe decline. People are locked into stupid low interest rates so their “odds” are decent they stay in their homes. Rentals are brutal if anyone has looked.
Inflation is the variable though. Combine a mortgage payment, high food, fuel, and utility costs plus property tax and we will see how it plays out.
I don't believe this is a bubble like 2007. Many buyers are highly qualified or paying cash. My best guess is the frenzy will fade, but no crash. Already in my locale everything has been bought up. The people buying bare land are in for a surprise when they discover builders are 2-3 yrs out. So we may see bare land come back on the market for more reasonable prices. But as Calvin says, inflation is the wild card.
I'm lined up with your thinking pretty much exactly. I don't think vacant land is going to drop by much if at all, but I don't think there will be any housing price crash any time soon beyond some local slowness.
I don’t think the bottom is gonna drop out anywhere either. I do think the pace of home values will slow down down considerably. Especially in markets that were already seeing double digit growth over the last decade+.
Some markets, like the SE, seem to still have room to grow.
Who knows. All I know for sure, it sucks for young folks trying to get into the market today.
I don't believe this is a bubble like 2007. Many buyers are highly qualified or paying cash. My best guess is the frenzy will fade, but no crash. Already in my locale everything has been bought up. The people buying bare land are in for a surprise when they discover builders are 2-3 yrs out. So we may see bare land come back on the market for more reasonable prices. But as Calvin says, inflation is the wild card.
Inflation and companies going under and people losing their jobs and cant make a 2.5 per cent mortgage payment
I don't believe this is a bubble like 2007. Many buyers are highly qualified or paying cash. My best guess is the frenzy will fade, but no crash. Already in my locale everything has been bought up. The people buying bare land are in for a surprise when they discover builders are 2-3 yrs out. So we may see bare land come back on the market for more reasonable prices. But as Calvin says, inflation is the wild card.
Inflation and companies going under and people losing their jobs and cant make a 2.5 per cent mortgage payment
That will affect to bottom half of the market, but what about the top half?
Every market period cycles. This one will as well. In the early 1990s it was unbelievable that the market would ever go down. It did. In 2006/7 same idea. Everything's great. Average guy had no idea what was going on in the financial world. Then boom it was over. Same today, we don't know exactly what will cause the boom to end but something will or a combination of things will occur to cause a crash. Here where I live is all it takes to start the domino effect is something that stops or slows new construction and the perception that it will get even slower.
Every market period cycles. This one will as well. In the early 1990s it was unbelievable that the market would ever go down. It did. In 2006/7 same idea. Everything's great. Average guy had no idea what was going on in the financial world. Then boom it was over. Same today, we don't know exactly what will cause the boom to end but something will or a combination of things will occur to cause a crash. Here where I live is all it takes to start the domino effect is something that stops or slows new construction and the perception that it will get even slower.
With all due respect... I disagree... in the 1990s, 2006/7 et al... there was still capacity... land and/or natural resources, work, ethics, invention... were wide open to support growth. (i.e. we were GROWING the "Fatted calf").
America is now in a contraction phase... absurd regulations, insane taxes (@ Socialism levels), people actually WANT HOAs... Folks are selling 2 centuries of prosperity... and EATING the "Fatted calf".
This very thread is about $100k/acre land, $300+ SF construction etc.
HOA's been around since the 50's and took off in the 60's - they're not new. People been "wanting" them for 80 years. I don't take that as an indicator of collapse.
Every market period cycles. This one will as well. In the early 1990s it was unbelievable that the market would ever go down. It did. In 2006/7 same idea. Everything's great. Average guy had no idea what was going on in the financial world. Then boom it was over. Same today, we don't know exactly what will cause the boom to end but something will or a combination of things will occur to cause a crash. Here where I live is all it takes to start the domino effect is something that stops or slows new construction and the perception that it will get even slower.
With all due respect... I disagree... in the 1990s, 2006/7 et al... there was still capacity... land and/or natural resources, work, ethics, invention... were wide open to support growth. (i.e. we were GROWING the "Fatted calf").
America is now in a contraction phase... absurd regulations, insane taxes (@ Socialism levels), people actually WANT HOAs... Folks are selling 2 centuries of prosperity... and EATING the "Fatted calf".
This very thread is about $100k/acre land, $300+ SF construction etc.
There is no exit from this... that I can see.
As always... I am open to differing opinions.
$100k an acre...pssh. Look up Cedar Hills, Highland, or Alpine Utah on Realtor. .25 acre building lots are $800k+
No slowdown in Northeast Ga - I am 50 miles away from ATL and they are building 500k townhouses here at the moment. There simply is no inventory and even with rates approaching 6% folks from New England and even the left coast are coming in and paying 50k to 150k over list price. We had a house on my street that sold for 250k over listing price, granted it was underpriced but still...
I think a lot has to do with so many people not going back to the office. Many in my company are working from home, and it in all likely hood will become permanent. Home could be anywhere they want it to be. I'm thinking no travel to and from work saves a bunch for a lot of people. That in turn allows them to spend more on housing. They can move out of a crap hole, and move themselves to a better place/neighborhood. Of course, that also allows them to turn the new local into the old local.
I think a lot has to do with so many people not going back to the office. Many in my company are working from home, and it in all likely hood will become permanent. Home could be anywhere they want it to be. I'm thinking no travel to and from work saves a bunch for a lot of people. That in turn allows them to spend more on housing. They can move out of a crap hole, and move themselves to a better place/neighborhood. Of course, that also allows them to turn the new local into the old local.
Clyde
Agree but that will be a cycle too. People will learn that there are VERY real downsides with WFH. And while "home can be anywhere" works for some places - a hybrid where you'll still need to travel then to see clients or the home office often means you have to be within XX miles of an "international airport with direct flights to XXX" - as a condition of employment too.
I was blabbin' about it a couple weeks back but we took the plunge and bought another house. 3 bedroom, full finished basement, 40 year old house just down the street from us.
Nothing fancy but appears to be a solid house on the best street in our dirty little town. Got it for $95/sq ft which I don't think is a terrible investment. Not a money maker deal, just a way to unload half of our small savings account and get something other than a number on a screen. And it will benefit family who REALLY want to live in town......lol
Save money for 10 years and then watch it lose what, 10-15% of it's value? Kinda pissed me off but that's the way it goes.
I'd have rather bought land but it's hard to find and we're behind as it is taking caring of 'our'(my parent's) little farm. For some reason a good house appeared to be an okay saving account.
20 year loan but we plan on paying it off in 10. Gonna be around 5.5% fixed for the first 10 and then goes variable which is a good reason to focus and knock it down quick.
I was blabbin' about it a couple weeks back but we took the plunge and bought another house. 3 bedroom, full finished basement, 40 year old house just down the street from us.
Nothing fancy but appears to be a solid house on the best street in our dirty little town. Got it for $95/sq ft which I don't think is a terrible investment. Not a money maker deal, just a way to unload half of our small savings account and get something other than a number on a screen. And it will benefit family who REALLY want to live in town......lol
Save money for 10 years and then watch it lose what, 10-15% of it's value? Kinda pissed me off but that's the way it goes.
I'd have rather bought land but it's hard to find and we're behind as it is taking caring of 'our'(my parent's) little farm. For some reason a good house appeared to be an okay saving account.
20 year loan but we plan on paying it off in 10. Gonna be around 5.5% fixed for the first 10 and then goes variable which is a good reason to focus and knock it down quick.
Friend of ours moved to Houston, was selling their house. It has a first floor master so we considered buying it.
I was thinking it was worth about whatever, Zillow said it was worth about 100K more which already made me decide to pass, then owner told my wife they were hoping to get 150K more than what zillow says it worth.
I'm thinking about buying a home as an investment but I have alot to learn before I take that plunge
Buying an apartment is an important step that should be taken responsibly. There are many things to think about and consider before you buy. Consider your preferences: which area is more comfortable, are transportation hubs important, the desired floor, the number of rooms, etc. Analyze your financial capabilities. Despite the reduction in prices, I have to work hard to provide myself with an apartment, and there is no time to analyze the market. Therefore, my girlfriend decided to use the advice onstage-online.com. You need to find professionals who can competently explain the decrease in prices and whether it is not cheating.
Buying an apartment is an important step that should be taken responsibly. There are many things to think about and consider before you buy. Consider your preferences: which area is more comfortable, are transportation hubs important, the desired floor, the number of rooms, etc. Analyze your financial capabilities. Despite the reduction in prices, I have to work hard to provide myself with an apartment, and there is no time to analyze the market. Therefore, my girlfriend decided to use the advice onstage-online.com. You need to find professionals who can competently explain the decrease in prices and whether it is not cheating.
WTF?
Bot or scammer. Just put it on ignore. Probably fluffing post count before posting in the classifieds.
not around here... 25 miles north of the State of California.. seems everyone who speaks English wants to leave there... and southern Oregon is outside of California but close enough to still be near the grandkids...
but of course they want to turn the place into being just like California, without the taxes and crowds ....
The California flood of real estate purchases are slowing in eastern oregon, compared to western oregon. With the exception of Bend. The housing market seems to have slowed a little. I'm not hearing of bidding wars any more! Lots of bare land was sold, that needs 600 ft wells and sandfilter septic systems. If and when they can get planning department permits. Prices are still up! Waiting to see what the tax collectors try to collect, come November! Our four bed, two bath, with two garages and lots of rv parking, assessment was 360,000 going into this FJB, fiasco! Hoping they don't access it any higher. I don't see much change quickly, but a slow drop in sales, maybe not prices! As far as Idaho and Montana, your just getting the California screwing we got, for the last twenty years. Take a deep seat and tight rein boys.
I have a friend i the outer western suburbs of Minneapolis who listed his home at 500k on Monday. I thought that was hi. He sold that evening after multiple offers for 610k. Baffles me.
I live in rural Tennessee, 13 miles from a decent sized town. Checked with two local contractors recently and both told me building costs were in the $300 range per sq foot for a nice brick home. Just received my latest county property tax appraisal and the value of our property increased 120% since last appraisal. Other than paying higher property taxes and more for homeowners insurance the increase in value doesn’t help me.
My oldest son purchased a 4000 sq ft.beautiful brick home in a newer very nice neighborhood in Bloomington, Illinois for $89/sq ft a.year ago. It's nearly $300 per sq ft here in St George. I guess it is indeed location.
have you been to illinios? I would freaking hate it there. state run by libs. corn fields and farms outside the cities. no mountains, no rivers with trout in them. no deserts with public lands. there is a reason the house is cheaper. I think utah is seeing a massive migration because its still kinda a conservative state and people see just what a variety of things that can recreate doing around here. St george is awesome too. we love going there, for the reasons I stated.
We came through St. George a few weeks ago, were astounded at all the construction going on, new homes and apartment buildings on every square inch of ground as far as the eye can see. Used to be a nice little town, big city now.
Market in SoCal is still nuts. Hope it stays that way for another couple months!
Have my house here I had Mom staying in (moved her in when wife relocated to San Diego for a job move). Unfortunately she passed away in late February. I locked up the place and let it sit for a couple months, with plans for the wife and I to likely move back in this summer. Then, suddenly the old lady comes home one day six weeks ago and asks "want to move to AZ?" Her company asked if she was interested in a transfer to their Tempe office. Of course, I'm all in. After all these years stuck in Kalifornistan, I finally have the opportunity to go home. So we are pulling up stakes and getting out of this hell hole. Leaving a great job I've had for 26 years, but this opportunity may never present again unless I wait it out until retirement.
I recall back in 2006 and 2007 everyone was telling me to buy. "Great investment...houses going up 10% to 15% every year!"
One of the best decisions of my life, I left my money in the bank and did not buy. I was at that time looking at homes well over an hour away from work which were going for $500k to $600k, and were "fixer uppers". I thought "this is insane, who can afford or would want to do this! I'm not spending $500k on a fixer upper!" I did not buy.
Then the crash. When I thought the time was right and I could actually afford a nice move in ready home, I went looking again. Bought in November of 2009. Did not quite hit the bottom of the market, but was not off by much. Bought a nice move in ready home at $430k.
Here now almost 13 years later as I rush to get house emptied and on market at the end of the month, house looks to go somewhere in the $850k to $900k range. Owing less than $350k I'll be walking away with a nice chunk of change.
We will be looking to buy in AZ immediately, but am going to leave a good chunk of that money in the bank to hedge my bets. Should the market drop big again in the coming year or two, I'll be looking to buy a 2nd place as an investment property. Very happy to be selling now. Not so happy about buying now. But will leave funds on the side to pull the trigger on another place should what I fear is coming actually happen.
Then the crash. When I thought the time was right and I could actually afford a nice move in ready home, I went looking again. Bought in November of 2009. Did not quite hit the bottom of the market, but was not off by much. Bought a nice move in ready home at $430k.
Here now almost 13 years later as I rush to get house emptied and on market at the end of the month, house looks to go somewhere in the $850k to $900k range. Owing less than $350k I'll be walking away with a nice chunk of change.
Sounds to me like the market in California actually lags behind most areas of the country. It took 13 years for your house to double in value. Our property in rural TN increased 120% in less than 3 years.
From what I'm hearing from local contractors, there's still high demand for houses, but no more "build, damn the cost" situations. It's cooling, a little.
My oldest son purchased a 4000 sq ft.beautiful brick home in a newer very nice neighborhood in Bloomington, Illinois for $89/sq ft a.year ago. It's nearly $300 per sq ft here in St George. I guess it is indeed location.
have you been to illinios? I would freaking hate it there. state run by libs. corn fields and farms outside the cities. no mountains, no rivers with trout in them. no deserts with public lands. there is a reason the house is cheaper. I think utah is seeing a massive migration because its still kinda a conservative state and people see just what a variety of things that can recreate doing around here. St george is awesome too. we love going there, for the reasons I stated.
I agree with your assessment of Illinois. Couldn't handle it for the very same reasons you stated. But, his wife's parents are there, it's her hometown and my son is very happy. Different strokes I suppose.
St George is great. Close to all the wonders of the west, and I can be shooting on the AZ strip in 20 minutes. I am indeed lucky and blessed to have ended up here.
