ex-ghost
Footballguy
In Bend right now. Prices are crazy. 1000 sq ft 4-5 blocks from river going for 600k.
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How's your housing market? (1 Viewer)
- Thread starter tommyGunZ
- Start date
skycriesmary
Climbing up the Walls
I can't help but think that there's a large amount of people buying right now based on rates, and the belief that with the dollar sinking they better get in before real inflation hits.
Judge Smails
Footballguy
Terminalxylem
Footballguy
It’s odd seeing people advocate living in the Midwest based on bad weather elsewhere. Sure the summers in the South suck, but that’s only a quarter of the time. Having lived in MI a couple years, there was only like six weeks a year that weren’t overcast or miserably cold.
And there are other places to live besides the Midwest and Deep South. Have you guys considered the Mid-Atlantic, Mountain or western states? NC, VA, CO, UT and all of the West Coast are all more livable climates IMO.
I agree that FL is terrible though.
Mrs. Rannous
Footballguy
No snow shovelling. Divine. I love snow, but I never want to deal with it again.
Chadstroma
Footballguy
Who the hell is advocating living in the Midwest?! I want the hell out of here. I am originally from California. You can't beat the weather there but unfortunately the state is very unattractive to live for many other reasons.
My wife will only move to a place we have family or close friends. I am limited to CA, IL or IN as of right now. I do think a move the burbs of Indianapolis would be an upgrade over the burbs of Chicago at this point but no chance to make that move just yet.
flapgreen
Footballguy
Chadstroma
Footballguy
HUGE difference. Our good friends moved down there a number of years ago.
Everything is cheaper. Taxes are ridiculously much lower, houses are cheaper, gas is cheaper... I would go now but wife's parents are 10 min away and most of her siblings are close too. I need something more than money difference to ger her to make the move.
Terminalxylem
Footballguy
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flapgreen
Footballguy
Chadstroma
Footballguy
High cost, ridiculous government, and a state heading towards pension disaster to catapult taxes even higher in the not too distant future. So many of my fellow Californians that I grew up with have left and many more are looking to leave.Terminalxylem said:
EYLive
Footballguy
With so many people working from home, there's no need to pay the high cost of the Bay area and Los Angeles. L.A. has a homelessness issue with no solution. I never considered moving away, but the idea is no longer off the table. I still believe no other city on earth can match our food scene but with the pandemic, we can't really enjoy fully.
Terminalxylem
Footballguy
Sorry, that’s not good enough. Especially if you willingly reside in FL.flapgreen said:
jvdesigns2002
Footballguy
I'm from california--but the taxes, traffic, cost of living are all ridiculous. For every gallon of gas you buy--there is something like 60 cents or more added in taxes. There's also just a ton of people out here. Before covid--you could drive from Orange County to areas in LA at 2am--and I kid you not-you will still hit pockets of traffic. Business wise--it's also a very hard state to thrive in with all of the regulations that the state imposes. Basically--if you are able to work remotely--there is almost no good reason to live in a tiny condo in California when you can get yourself a legit real property in other states for the same or less money.Terminalxylem said:
Terminalxylem
Footballguy
Fair enough. LA has always been kinda gross IMO. And I wouldn’t put CA in the top 5-10 states to live, but it’s a heck of a lot better than most of the rest of the country.
flapgreen
Footballguy
I live in Tennessee, but that doesn't really matter. I thought it was pretty common knowledge what the issues were with living in California.
flapgreen
Footballguy
Wife is from there and only a handful of her family members are still there. Most left long ago and never looked back. They were right to leave, too. It got way worse
Terminalxylem
Footballguy
Yeah, I know many of them, but consider part of that the price of living somewhere desirable.
TN seems like a pretty decent place to live, especially Chattanooga and Nashville.
flapgreen
Footballguy
California is one of the most beautiful places on Earth, but it's been ruined by the idiots running place.
flapgreen
Footballguy
Yeah, I'm in the Nashville area, but I grew up here. Lived in Florida for a while. I like both.
California is a really amazing place. I'd never argue that. But what comes along with all the cool stuff it has to offer doesn't come close to being worth it to us. But hey, to each their own.
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flapgreen
Footballguy
Tennessee is still very affordable. State parks all over. Lakes. Rivers. Mountains. People are friendly and tend to help each other out. It's just a good place to live.
And this is not a political statement, but the lockdown and restrictions have been much less here, outside of the major cities. People are more spread out.
And this is not a political statement, but the lockdown and restrictions have been much less here, outside of the major cities. People are more spread out.
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Chadstroma
Footballguy
I came out to the Chicago area back in 2003. I was planning on being out here for a couple of years and then move back. Told my wife right away in dating that I was going back so she was on board with that or might as well not date.
Twists and turns and those couple of years turned into many years.
A few years ago. My brother had a bad accident where at first they weren't sure if he would make it or nor and I flew out.
My sister is in a bad spot after a divorce and dead beat X so one day at the hospital I took her car and my nieces. Went and filled the car up. Chicago area gas isn't cheap but DAMN I forgot how expensive CA gas is. So, then after that I took the girls to the grocery store to stock them up. DAMN the groceries were easily 30-80% higher on most everything. Only some produce was cheaper (guessing they are VA grown).
Property values are silly ridiculous. I live in a upper middle to upper class suburb of Chicago. A modest 3 bedroom built in '86. I similar home in a similar burb in CA would be 4 times the valuation.
I miss California. First thing I do when I get off the plane is head to In N Out on Supelveda. I make a trip out to Zuma Beach and it seems Dolphins are always righr there off the shore to greet me. My mother and siblings still live there and I have many dear friends there.
But the state is being run into the ground, just like Illinois. Common sense has been rejected outright and you can argue politics if you want but the reality is that these states have a clock ticking on problems that are being ignored and they are only going to end in only more taxation.
It's a damn shame. There are good reasons why the state exploded in population after WWII.
MAC_32
Footballguy
My dream locale is eastern Tennessee/western N Carolina/northern Georgia. Get enough of the 4 seasons without much in the way of extremes and I'm within a couple hours of anything I want to do. And while I don't care about the beach my wife does and a long weekend's feasible from that distance.
I'm content in the MW and we may never leave here, but if we were to that's what I'd angle for.
Wife took a buyer to look at a place on Friday that was listed at $400K Thursday in one of the suburbs in north Denver. Showings were all booked, multiple offers today (Monday.) Some at 425K according to the listing agent, one offer has an escalation clause up to 435K. August is generally the deadest time of year too, but there is barely any inventory available especially in entry level which this house is.
Colorado Springs is ridiculous as well, houses I looked at as potential flips or rentals in a particular neighborhood were selling for 250K last year where the numbers didn't add up for me. That same neighborhood those houses are selling for 300K+ right now.
Colorado Springs is ridiculous as well, houses I looked at as potential flips or rentals in a particular neighborhood were selling for 250K last year where the numbers didn't add up for me. That same neighborhood those houses are selling for 300K+ right now.
joey
Footballguy
SF Bay Area is crazy for real estate, as everyone knows. I just heard of something that's new to me but maybe obvious to others.
Ive noticed "Coming Soon" signs in front of a few houses for weeks on end, instead of it quickly changing to a "For Sale" sign after a week. I wondered what was going on and then a friend, who’s selling here now, told me that the realtor pre-showing that happens a few days before the Open House has sometimes turned into a pre-MLS-listing bidding war for potential buyers. ie. The seller might list it "low" on MLS to try to get a lot of interest and a bidding war going, but the "Coming Soon"/pre-MLS situation is that the seller sets a higher price, aka "if you pay me this now, you can have the house before it ever gets posted on MLS".
is this a common thing? Either way, another illustration of Bay Area housing craziness. (That bodes very well for us selling our house and downsizing in 7-10 years)
Ive noticed "Coming Soon" signs in front of a few houses for weeks on end, instead of it quickly changing to a "For Sale" sign after a week. I wondered what was going on and then a friend, who’s selling here now, told me that the realtor pre-showing that happens a few days before the Open House has sometimes turned into a pre-MLS-listing bidding war for potential buyers. ie. The seller might list it "low" on MLS to try to get a lot of interest and a bidding war going, but the "Coming Soon"/pre-MLS situation is that the seller sets a higher price, aka "if you pay me this now, you can have the house before it ever gets posted on MLS".
is this a common thing? Either way, another illustration of Bay Area housing craziness. (That bodes very well for us selling our house and downsizing in 7-10 years)
Zegras11
Footballguy
Pricing it lower than comps to create more offers and bidding wars has been a thing for a long time. A lot of agents do it these days.SF Bay Area is crazy for real estate, as everyone knows. I just heard of something that's new to me but maybe obvious to others.
Ive noticed "Coming Soon" signs in front of a few houses for weeks on end, instead of it quickly changing to a "For Sale" sign after a week. I wondered what was going on and then a friend, who’s selling here now, told me that the realtor pre-showing that happens a few days before the Open House has sometimes turned into a pre-MLS-listing bidding war for potential buyers. ie. The seller might list it "low" on MLS to try to get a lot of interest and a bidding war going, but the "Coming Soon"/pre-MLS situation is that the seller sets a higher price, aka "if you pay me this now, you can have the house before it ever gets posted on MLS".
is this a common thing? Either way, another illustration of Bay Area housing craziness. (That bodes very well for us selling our house and downsizing in 7-10 years)
STEADYMOBBIN 22
Footballguy
I don’t see housing prices continuing to rise for another 7-10 years. I think there is maybe another year of this madness, two tops. Then everything drops like a bomb.is this a common thing? Either way, another illustration of Bay Area housing craziness. (That bodes very well for us selling our house and downsizing in 7-10 years)
But nobody really knows.
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Zegras11
Footballguy
won't slow down until building catches up with demand. They really didn't build much at all for five years after the 2008-10 recession.
Might be better than the "walking into an open house where the living room is 50 foreign brokers talking to clients and not even looking at the house, then it sells for 30-60% above asking the next day, all cash" that was happening when we were looking 7 years ago.SF Bay Area is crazy for real estate, as everyone knows. I just heard of something that's new to me but maybe obvious to others.
Ive noticed "Coming Soon" signs in front of a few houses for weeks on end, instead of it quickly changing to a "For Sale" sign after a week. I wondered what was going on and then a friend, who’s selling here now, told me that the realtor pre-showing that happens a few days before the Open House has sometimes turned into a pre-MLS-listing bidding war for potential buyers. ie. The seller might list it "low" on MLS to try to get a lot of interest and a bidding war going, but the "Coming Soon"/pre-MLS situation is that the seller sets a higher price, aka "if you pay me this now, you can have the house before it ever gets posted on MLS".
is this a common thing? Either way, another illustration of Bay Area housing craziness. (That bodes very well for us selling our house and downsizing in 7-10 years)
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STEADYMOBBIN 22
Footballguy
Well I’m all for it. It’s just Mo’ Money in my pocket if we sell. No way I’m buying anything until the bubble bursts.
Gawain
Footballguy
joey
Footballguy
That wasn’t the part I was wondering about (pricing below comps is what was happening when we bought our current house in Marin over 16 years ago!). It was more about the pricing ABOVE comps before it goes on the market, like a "Buy It Now" eBay price.
Yes, I’ve seen Coming Soon signs in my neighborhood in the burbs of Charlotte. It’s a common thing when houses are going really fast.
ChiefD
Footballguy
I'd sell my house in about an hour if I put it up for sale. Suburb of KC.
A house around the corner just had a contract put on it for about 60k MORE than what I thought my neighborhood was worth. It's nuts.
We have been thinking about a permanent move up north to lake country in Minnesota once my wife gets approved for permanent work from home. So our house will probably hit the market the first of the year. Getting it ready now.
A house around the corner just had a contract put on it for about 60k MORE than what I thought my neighborhood was worth. It's nuts.
We have been thinking about a permanent move up north to lake country in Minnesota once my wife gets approved for permanent work from home. So our house will probably hit the market the first of the year. Getting it ready now.
I know that you know this, but homes in lake country are going fast and at fat premiums because everybody and their uncle has the same idea. Just FYI in case you weren't aware, but pretty sure you've already posted that you know things are moving fast up there.
ChiefD
Footballguy
Yeah, we are definitely aware. It's been nuts watching it at that end too. And honestly, it may end up being the determining factor whether we stay or move.
For us, we are actually looking at downsizing to try and keep it reasonable. We have a 2000 square foot house here, but we actually could get away with 1500. And our expectations are that we will get something less than what we have here. The benefit is we are changing lifestyles and are willing to settle for less.
Which judging by the prices, we will have to anyway.
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Sand
Footballguy
Sand
Footballguy
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Sand
Footballguy
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RedmondLonghorn
Footballguy
Yeah, that 0.4% on net worth (excluding directly held real estate) over $30MM is terrifying.
Sand
Footballguy
I think CA will find that they don't just get less money than they expect here, but lose money if they implement this.
Anyway, in my neck of the woods the inventory is pretty low and prices are moderately up. CA billionaires, for some reason, aren't flocking to Bhm, AL.
Chadstroma
Footballguy
And if you think that these people don't pay money to people (lawyers, accountants, bankers, etc) to avoid these taxes for them then you are crazy. It is like the freaking Gov of Illinois who removed all the freaking toilets from one of his houses so he wouldn't have to pay property taxes... and now he is running the state. Seriously, you people have to learn something... those rich people have the resources to avoid the taxes. It is cheaper for them to pay people to do that for them than to actually pay the taxes. How many will leave the state? I don't know. But I promise you that they have people advising them right now on how to limit or eliminate any new tax.RedmondLonghorn said:
A connected but separate rant... it boggles my mind why people think that they can 'fix' an archaic tax system built in the 1930's. It is like having a Model T and two groups of morons are arguing on how to give it a tune up so it can keep up on today's freeways. Just stupid.
EYLive
Footballguy
I read that there's a steady flow of people moving out of the bay area. If you're not in tech, why would anyone want to live there?joey said:SF Bay Area is crazy for real estate, as everyone knows. I just heard of something that's new to me but maybe obvious to others.
Ive noticed "Coming Soon" signs in front of a few houses for weeks on end, instead of it quickly changing to a "For Sale" sign after a week. I wondered what was going on and then a friend, who’s selling here now, told me that the realtor pre-showing that happens a few days before the Open House has sometimes turned into a pre-MLS-listing bidding war for potential buyers. ie. The seller might list it "low" on MLS to try to get a lot of interest and a bidding war going, but the "Coming Soon"/pre-MLS situation is that the seller sets a higher price, aka "if you pay me this now, you can have the house before it ever gets posted on MLS".
is this a common thing? Either way, another illustration of Bay Area housing craziness. (That bodes very well for us selling our house and downsizing in 7-10 years)
TripItUp
Footballguy
A ton of tech/biotech/finance jobs, never gets too cold or too hot, can easily drive to mountains for snow stuff or go to numerous beaches? Lots of people also just like city life
. The population has been growing (pre-Covid), so someone is moving here. Many people moving out are retired where you can buy a 6000 sqft house almost anywhere for the price of your 1500 house here.
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EYLive
Footballguy
But SF isn't that great for city life. If you want better weather, L.A. and San Diego are both better. And are there really people going to the bay area for the beaches?A ton of tech/biotech/finance jobs, never gets too cold or too hot, can easily drive to mountains for snow stuff or go to numerous beaches? Lots of people also just like city life
LA and San Diego have better beaches, but they do not have the same overwhelming density of high paying jobs. Bay area beaches are quite cold, but it is not like Santa Cruz or other beaches are that far away. It is more a confluence of factors of jobs + things to do, not that every aspect is the best you can find.
TripItUp
Footballguy
I just moved from the bay area to SD 3.5 years ago...easy decision. SF is a great city for being in your 20s and 30s. Past that I would much rather be in SD.
