Real Estate Thread

[troyguitar]

Outside of it seems like most here are around 500-700k for a house/rowhouse/condo in a nice area... which is a LOT.

I know seattle ain't cheap no mo... and Jew York is pricy as fuck also...

Considering the "incomes" here it really doesn't seem that esssspensive here.

I've no clue how so many of you live with such high expenses. Makes no sense.

[max225]

Outside of it seems like most here are around 500-700k for a house/rowhouse/condo in a nice area... which is a LOT.

I know seattle ain't cheap no mo... and Jew York is pricy as fuck also...

Considering the "incomes" here it really doesn't seem that esssspensive here.

I've no clue how so many of you live with such high expenses. Makes no sense.

I am grandfathered into my place here. At 1/2 for a mortgage vs what i'd pay for rent. Even if I moved into most places that these forum members lived in i'd PAY MORE a lot more.... than I am not to rent or own and yet I'd earn less.

I am perfectly fine with my luck at the moment. But that shit only turned for me in 2016. I was underwater at point on the house also...

KY is not a place for me. I won't be able to find a decent job in my field that pays...

I looked into Texass at points, but my profession would make 1/2 of what I make now... no fking joke... 1/2!

[ChrisoftheNorth]

Things have gone full retard in the Detroit area. Back in 2013, we bought a 3200sq ft "mansion" in Detroit for $215k. That was an epic house, but the was too much.

We moved to the "hottest" city in the area in 2015 and paid $320 for a 2200sq ft house with a small yard and 2.25 car garage. Put about $50k into repairs for HVAC, roof, outside, etc...and now my realtor buddy claims he could sell it for way over $400k. Neighbors across the street just bought their 1700sq ft house for $310 and they're dumping an easy $80k into it. New roof, new kitchen, addition on the bedroom, new driveway, etc. It's nuts.

But really, we live in one of the best areas in the region. To live in a similar area in CA, we'd be paying way over $1M.

[SixSpeeder]

I bought my condo for $270k in 2014, it's valued at $430k currently and climbing. Everything around me sells for above list. The Apartment that I used to rent nearby for $1250 a month is now going for $2000 a month. I live in downtown Redmond which is 20 mins from Seattle without traffic, 5 hours with traffic.

[max225]

I like this thread...

An hour north of Philly, 90 min west of NYC (with a shocking number of day commuters), total area population of about a million people.

First: This is the neighborhood next to mine. This is a high end nice house but by far not the nicest in the area.

5 bds • 5 ba • 3,917 sqft http://www.zillow.com/homedetails/9654015_zpid/
One acre lot
695k
Last sold in 2016 for 545k.
They will probably sell it for 650 in the next few weeks.

Next one: My neighborhood, a couple houses down from me. Very comparable to my house except smaller lot, smaller garage, and EXTREMELY dated inside. Originally listed at 485, now down to 470. Probably will sell for 460 by October.

What do you think of this 4 bds • 3 ba • 4,289 sqft http://www.zillow.com/homedetails/9651461_zpid/

Very nice town home about ten minutes further away from amenities and Philly/NYC:
300K, fairly well priced
What do you think of this 4 bds • 3 ba • 2,354 sqft http://www.zillow.com/homedetails/87998626_zpid/

For comparison, basically perfectly equivalent to my house, but ten minutes from my office instead of 45.

What do you think of this 4 bds • 3 ba • 3,571 sqft http://www.zillow.com/homedetails/10078074_zpid/


For reference we paid 430 two years ago. My agent was over for a drink a few weeks after we finished the kitchen and thinks we could list at 575 and walk with 540 in a couple weeks.

Hmm interesting homes, the square footage is but it doesn't seem to be making any sort of sense, just strange boxy rooms all over.

I really liked the first house with the views doe.

It is odd, i have 1700sq feet but I think I truly only need 800-900 I think that's the perfect amount for 2 ppl.

[max225]

Things have gone full retard in the Detroit area. Back in 2013, we bought a 3200sq ft "mansion" in Detroit for $215k. That was an epic house, but the was too much.

We moved to the "hottest" city in the area in 2015 and paid $320 for a 2200sq ft house with a small yard and 2.25 car garage. Put about $50k into repairs for HVAC, roof, outside, etc...and now my realtor buddy claims he could sell it for way over $400k. Neighbors across the street just bought their 1700sq ft house for $310 and they're dumping an easy $80k into it. New roof, new kitchen, addition on the bedroom, new driveway, etc. It's nuts.

But really, we live in one of the best areas in the region. To live in a similar area in CA, we'd be paying way over $1M.

400k for Detroit is but I think that'll finally bring in some much needed tax revenue and displaces some s money fixes that type of shit ...

[ChrisoftheNorth]

Things have gone full retard in the Detroit area. Back in 2013, we bought a 3200sq ft "mansion" in Detroit for $215k. That was an epic house, but the was too much.

We moved to the "hottest" city in the area in 2015 and paid $320 for a 2200sq ft house with a small yard and 2.25 car garage. Put about $50k into repairs for HVAC, roof, outside, etc...and now my realtor buddy claims he could sell it for way over $400k. Neighbors across the street just bought their 1700sq ft house for $310 and they're dumping an easy $80k into it. New roof, new kitchen, addition on the bedroom, new driveway, etc. It's nuts.

But really, we live in one of the best areas in the region. To live in a similar area in CA, we'd be paying way over $1M.

400k for Detroit is but I think that'll finally bring in some much needed tax revenue and displaces some s money fixes that type of shit ...

What does it take for you to realize I don't live in Detroit? No matter how many times I say it, you just ignore it. My city is about as white as you can get.

[max225]

400k for Detroit is but I think that'll finally bring in some much needed tax revenue and displaces some s money fixes that type of shit ...

What does it take for you to realize I don't live in Detroit? No matter how many times I say it, you just ignore it. My city is about as white as you can get.

Looks at screen name ... looks at post ... gets confused

[max225]

You guys bread another 1.5 kids ?

[troyguitar]

So are prices in "desirable" areas, i.e. the entire country except for KY, ever going to come back down or are those of us who aren't making $50k+ per year on our house to never be able to afford to live anywhere "nice"?

[troyguitar]

So are prices in "desirable" areas, i.e. the entire country except for KY, ever going to come back down or are those of us who aren't making $50k+ per year on our house to never be able to afford to live anywhere "nice"?

I don't see a substantial retreat on the horizon. Maybe a softening in 15 years when the boomers really start to die off but even then I don't think it's going to ever really reduce.

Land is a finite resource.

So we're fucked. Not surprising.

Your house makes more money than I do... and probably will for as long as I live.

[troyguitar]

So we're fucked. Not surprising.

Your house makes more money than I do... and probably will for as long as I live.

Well not really. It's not real money until you can divest and move into some place cheaper. The increase it's done this year isn't going to last forever. I suspect over 20 years it will keep up with inflation and not much more, except when we put money into it.

It's real money for us when you're getting it and we are not. Your neighborhood gets further out of reach with each passing minute. Anyone who does not live in an area is actively getting poorer at an alarming rate. Every day another area goes out of reach.

I don't even want to live in a fancy place now, but I feel like I might before I die - but it seems like only way to make that a possibility is to make it my immediate goal in life to move somewhere that will appreciate like your house NOW. Our house might as well be built on quicksand.

[max225]

Well not really. It's not real money until you can divest and move into some place cheaper. The increase it's done this year isn't going to last forever. I suspect over 20 years it will keep up with inflation and not much more, except when we put money into it.

It's real money for us when you're getting it and we are not. Your neighborhood gets further out of reach with each passing minute. Anyone who does not live in an area is actively getting poorer at an alarming rate. Every day another area goes out of reach.

I don't even want to live in a fancy place now, but I feel like I might before I die - but it seems like only way to make that a possibility is to make it my immediate goal in life to move somewhere that will appreciate like your house NOW. Our house might as well be built on quicksand.

You're smart enough to figure out which area to move to if you want your house to make money.

In today's world information is readily accessible to anyone.

[troyguitar]

It's real money for us when you're getting it and we are not. Your neighborhood gets further out of reach with each passing minute. Anyone who does not live in an area is actively getting poorer at an alarming rate. Every day another area goes out of reach.

I don't even want to live in a fancy place now, but I feel like I might before I die - but it seems like only way to make that a possibility is to make it my immediate goal in life to move somewhere that will appreciate like your house NOW. Our house might as well be built on quicksand.

You're smart enough to figure out which area to move to if you want your house to make money.

In today's world information is readily accessible to anyone.

You don't just move. You need 2 jobs in the area and a truck load of cash.

[Apex]

You're smart enough to figure out which area to move to if you want your house to make money.

In today's world information is readily accessible to anyone.

You don't just move. You need 2 jobs in the area and a truck load of cash.

[troyguitar]

Also don't forget I'm five years older than you and just moved here two years ago. I couldn't have afforded this place even three years ago.

...and in 3 more years the price will have gone up 30-40% while our income only goes up 5-10% at best. Unaffordable now = unaffordable forever.

[Tar]

...and in 3 more years the price will have gone up 30-40% while our income only goes up 5-10% at best. Unaffordable now = unaffordable forever.

Prices definitely won't be up that much. 10% MAX. Probably mid correction in some markets in three years.

, but I'm on board with Mahtroy about the radical change in home prices. Haves vs Havenots. It sucks for my little brother who's also in the market and feeling the same way. He's looking at houses for 100k more then I paid further away from the city and half the size.

[Tar]

, but I'm on board with Mahtroy about the radical change in home prices. Haves vs Havenots. It sucks for my little brother who's also in the market and feeling the same way. He's looking at houses for 100k more then I paid further away from the city and half the size.

It's the reason we are an hour out. When we bought in our old town in 2007 the house we are in now would have been about the same price down there as here. Now, no fucking way.

Wife and I are looking to move out and upsize the lot and possibly add garage space. It will mean additional loans so I'm planning the timing to benefit us the most. Hopefully if there's a softening in the market we can close the financial gap between the two properties.

What can you do... first come first serve. I have a relative whose grandparents owned the land that a very prominent Toronto mall now sits on. The old folks are worth $60 Million and sold 20 or more years ago.

[Tar]

Fkn pig farmers lol

[troyguitar]

...and in 3 more years the price will have gone up 30-40% while our income only goes up 5-10% at best. Unaffordable now = unaffordable forever.

Prices definitely won't be up that much. 10% MAX. Probably mid correction in some markets in three years.

Why would the land rush stop?

[troyguitar]

Or, better yet... Where should we buy and when to quit fucking ourselves? Assuming $400k absolute max entry price.

[Tar]

Fkn pig farmers lol

Holy balls.

Yeah man. It's about the land. Once it turns into a gold mine it stays that way. This is what they sold..

[troyguitar]

Or, better yet... Where should we buy and when to quit fucking ourselves? Assuming $400k absolute max entry price.

Where do you want to be? Almost everywhere had decent neighborhoods in the 300s.

Wherever will appreciate enough so that we can afford to buy something we actually want in 20 years. Picking places that we liked in the short term was our past strategy and we lost out on $200k+ by doing that. We won't buy a place we like again until it's our death house...

[Johnny_P]

Outside of it seems like most here are around 500-700k for a house/rowhouse/condo in a nice area... which is a LOT.

I know seattle ain't cheap no mo... and Jew York is pricy as fuck also...

Considering the "incomes" here it really doesn't seem that esssspensive here.

Yeah the Pennsylvania and :mahtroyless: Hobbit Hole prices have been real eye openers.

Which is why I'm rather content living in my $700/mo povmahal. GF's parents own it. I don't love the place but meh. I could buy a home I guess and I'd probably do well on it but IDK. AC in every room would be nice, as would an adult size bathroom.

[Johnny_P]

Where do you want to be? Almost everywhere had decent neighborhoods in the 300s.

Wherever will appreciate enough so that we can afford to buy something we actually want in 20 years. Picking places that we liked in the short term was our past strategy and we lost out on $200k+ by doing that. We won't buy a place we like again until it's our death house...

Cities are all the rage
Not likely to get a garage doe