This housing market
10-May-22 8:57am
#1 MrBean
I hope none of you are currently in the market. I've been in my house for 13 years and we committed to moving out before our oldest starts Kindergarten - which is this August.
I knew that costs were high, but what the fudge, even the interest rates are bat crap right now. I couldn't believe it when we started playing the numbers game and they're in the mid to high 5's right now. Son of a dog. Had we simply done this last year, we would have been in such a better spot.
This is just fudgeed. I really debate if we shouldn't wait longer, but the reality is ... is this the new norm? Will it come back down? Every time we find something in budget, it's gone the same day. Having a contingent bid, we're always behind the 8 ball as cash is king right now.
This is slightly out of our comfort zone for how much we want to spend, but man ... I love it. The problem is, the upkeep of the yard, jesus christ ... it's a bit much. https://www.zillow.c...
#1 MrBean
I hope none of you are currently in the market. I've been in my house for 13 years and we committed to moving out before our oldest starts Kindergarten - which is this August.
I knew that costs were high, but what the fudge, even the interest rates are bat crap right now. I couldn't believe it when we started playing the numbers game and they're in the mid to high 5's right now. Son of a dog. Had we simply done this last year, we would have been in such a better spot.
This is just fudgeed. I really debate if we shouldn't wait longer, but the reality is ... is this the new norm? Will it come back down? Every time we find something in budget, it's gone the same day. Having a contingent bid, we're always behind the 8 ball as cash is king right now.
This is slightly out of our comfort zone for how much we want to spend, but man ... I love it. The problem is, the upkeep of the yard, jesus christ ... it's a bit much. https://www.zillow.c...
4-Aug-23 3:42pm
#301 MrBean
lightslime wrote:
Would it be very unrealistic to fix up something like this? https://www.zillow.c...
I mean, if you know what you're doing, don't see why not ... For me personally, that's a hard no. I can do basic crap, but looks like that needs a fair amount of TLC!
#301 MrBean
lightslime wrote:
Would it be very unrealistic to fix up something like this? https://www.zillow.c...
I mean, if you know what you're doing, don't see why not ... For me personally, that's a hard no. I can do basic crap, but looks like that needs a fair amount of TLC!
4-Aug-23 5:59pm
#303 Noid
John wrote:
Reed wrote:> Just talked to a contractor about turning our finished basement into an AirBNB (adding> a bathroom and kitchen) and he quoted us $100k-$120k, that’s gotta be a fudge off> quote right? We were thinking $25k, maybe $50k at most. All remodeling seems to be insane right now. My wife and I have been talking about doing a makeover of our house for years (new roof, siding, windows, and a garage door). We've had rough estimates before in the $30-$40k range. We finally had someone do a real quote now because we were ready to move at $40-$45k. It came back as $85-$90k. So, for now, we're just sitting.
Will remodeling prices go back down to half of what they are now or is this just the new normal?
#303 Noid
John wrote:
Reed wrote:> Just talked to a contractor about turning our finished basement into an AirBNB (adding> a bathroom and kitchen) and he quoted us $100k-$120k, that’s gotta be a fudge off> quote right? We were thinking $25k, maybe $50k at most. All remodeling seems to be insane right now. My wife and I have been talking about doing a makeover of our house for years (new roof, siding, windows, and a garage door). We've had rough estimates before in the $30-$40k range. We finally had someone do a real quote now because we were ready to move at $40-$45k. It came back as $85-$90k. So, for now, we're just sitting.
Will remodeling prices go back down to half of what they are now or is this just the new normal?
4-Aug-23 7:31pm
#304 lightslime
lightslime wrote:
Would it be very unrealistic to fix up something like this? https://www.zillow.c...Yeah maybe not. I'm reading about the 1% rule in real estate investing and seems like it could potentially cost 100k to renovate that place, seems like a bad time to buy real estate here if you want it to rent for more than 1% of the purchase price
#304 lightslime
lightslime wrote:
Would it be very unrealistic to fix up something like this? https://www.zillow.c...Yeah maybe not. I'm reading about the 1% rule in real estate investing and seems like it could potentially cost 100k to renovate that place, seems like a bad time to buy real estate here if you want it to rent for more than 1% of the purchase price
5-Aug-23 3:58pm
#306 MrBean
Ha, haha, of course. Just got a letter today that our property was re-appraised (happens every 6 years), we jumped $70k! Jfc, cash grab galore, more taxes!
Guess our whole county is getting hit by upwards of a 34% increase, ours was 26%.
Crap is bound to crash soon.
#306 MrBean
Ha, haha, of course. Just got a letter today that our property was re-appraised (happens every 6 years), we jumped $70k! Jfc, cash grab galore, more taxes!
Guess our whole county is getting hit by upwards of a 34% increase, ours was 26%.
Crap is bound to crash soon.
This housing market