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...
13-May-22 1:59am
#61 Miranda
SwiftJAB wrote:
In my experience, leases can be broken, but there is usually a fee of some sort to do so. It can be quite a bit though. One lease I had said I basically on the hook for the rent until a new renter moved in and I had to pay for all marketing costs.
Yeah, that's what I had to deal with here in MO years ago. I was offered a buy out option. My security deposit plus one additional months rent. I took it. That damn place was PITA. Residents throughout the building were awful.
Some states have a law that DV victims must be released from their lease. I've never heard of the release based on a home purchase though.
#61 Miranda
SwiftJAB wrote:
In my experience, leases can be broken, but there is usually a fee of some sort to do so. It can be quite a bit though. One lease I had said I basically on the hook for the rent until a new renter moved in and I had to pay for all marketing costs.
Yeah, that's what I had to deal with here in MO years ago. I was offered a buy out option. My security deposit plus one additional months rent. I took it. That damn place was PITA. Residents throughout the building were awful.
Some states have a law that DV victims must be released from their lease. I've never heard of the release based on a home purchase though.
13-May-22 12:30pm
#62 John
SwiftJAB wrote:
In my experience, leases can be broken, but there is usually a fee of some sort to do so. It can be quite a bit though. One lease I had said I basically on the hook for the rent until a new renter moved in and I had to pay for all marketing costs.
Well, yes, everything can be "broken" if you pay the agreed fees. That's not really "breaking" a lease. It is following the clauses of the lease.
In most states, if a lease does not specify an "out", then you are responsible for the remainder of the lease until it is re-rented, including marketing costs. Like you've stated here. Basically, you are responsible for leaving early until the landlord is "made whole."
-John...
#62 John
SwiftJAB wrote:
In my experience, leases can be broken, but there is usually a fee of some sort to do so. It can be quite a bit though. One lease I had said I basically on the hook for the rent until a new renter moved in and I had to pay for all marketing costs.
Well, yes, everything can be "broken" if you pay the agreed fees. That's not really "breaking" a lease. It is following the clauses of the lease.
In most states, if a lease does not specify an "out", then you are responsible for the remainder of the lease until it is re-rented, including marketing costs. Like you've stated here. Basically, you are responsible for leaving early until the landlord is "made whole."
-John...
13-May-22 2:22pm
#63 beavis
We're lucky, my MIL has a place she uses as an investement propery in Bothell Wa so we are going to move and rent from her for the next few years (maybe take it permenantly). She will make a little more charging us less rent and cutting out the realtor fees. So we are selling out place here in Apex, NC and if I was buying my house right now in apex I wouldn't be able to afford it. When we bought in 2018 it was 374k. We meet with the realtor the other day and she asked what we were looking or and we said 550k. She laughed and said she sold a house around the corner with the same dimensions as ours for 650k. Told us our insides are better so we could be looking at 700k. The IT industry is moving into the Raliegh area like crazy and the amount of money being thrown around is ridiculous.
#63 beavis
We're lucky, my MIL has a place she uses as an investement propery in Bothell Wa so we are going to move and rent from her for the next few years (maybe take it permenantly). She will make a little more charging us less rent and cutting out the realtor fees. So we are selling out place here in Apex, NC and if I was buying my house right now in apex I wouldn't be able to afford it. When we bought in 2018 it was 374k. We meet with the realtor the other day and she asked what we were looking or and we said 550k. She laughed and said she sold a house around the corner with the same dimensions as ours for 650k. Told us our insides are better so we could be looking at 700k. The IT industry is moving into the Raliegh area like crazy and the amount of money being thrown around is ridiculous.
17-May-22 11:03am
#64 loztdogs
Put an offer in on a house today! Wish me luck… have my fingers crossed.
#64 loztdogs
Put an offer in on a house today! Wish me luck… have my fingers crossed.
17-May-22 11:16am
#65 brian9824
Good luck, we looked ourselves but everything is crazy. I bought my house in 2010, its a 2/2.5 bedroom townhouse ~1200 square feet. I got it for $167k, person i had bought it from paid $300k.
Current Zillow has it priced around $450k, basically triple what I paid. I can't imagine what people who are looking for a first time home and don't have the capital are going thru.
#65 brian9824
Good luck, we looked ourselves but everything is crazy. I bought my house in 2010, its a 2/2.5 bedroom townhouse ~1200 square feet. I got it for $167k, person i had bought it from paid $300k.
Current Zillow has it priced around $450k, basically triple what I paid. I can't imagine what people who are looking for a first time home and don't have the capital are going thru.
17-May-22 11:33am
#67 sinnie
Market might be better next summer but interest rates are going to be up and if the economy crashes it might be harder to even get a loan. Scary times buying. I'm concerned about car loan shopping
#67 sinnie
Market might be better next summer but interest rates are going to be up and if the economy crashes it might be harder to even get a loan. Scary times buying. I'm concerned about car loan shopping
17-May-22 1:48pm
#68 shadyfozzie
loztdogs wrote:
Put an offer in on a house today! Wish me luck… have my fingers crossed.
address?
#68 shadyfozzie
loztdogs wrote:
Put an offer in on a house today! Wish me luck… have my fingers crossed.
address?
17-May-22 8:24pm
#69 Staraang
I’m going to speculate the market for houses <500-600k are not going to change much in price. I’m betting people who get priced out of even higher-priced homes will fill demand for lower-priced homes as interest rates rise.
#69 Staraang
I’m going to speculate the market for houses <500-600k are not going to change much in price. I’m betting people who get priced out of even higher-priced homes will fill demand for lower-priced homes as interest rates rise.
20-May-22 11:19pm
#70 MrBean
Man, 15 acres with a badass lake... The house isn't the best but wow I want that land -
https://www.zillow.c...
Then there's this fantastic house, lots of land, but appears to be very hilly https://apps.realtor...
Ugh, wanted to stop looking but these apps keep notifying me!
#70 MrBean
Man, 15 acres with a badass lake... The house isn't the best but wow I want that land -
https://www.zillow.c...
Then there's this fantastic house, lots of land, but appears to be very hilly https://apps.realtor...
Ugh, wanted to stop looking but these apps keep notifying me!
21-May-22 4:05pm
#71 Scott
That place looks great, love the lake! We're hoping to get more land when we do move. Put more distance between us and our neighbors.
#71 Scott
That place looks great, love the lake! We're hoping to get more land when we do move. Put more distance between us and our neighbors.
22-May-22 3:37pm
#73 ryanflucas
I plan on going for less grass. I'm at about 1.25 acres now. I'd rather have 3/4 to 1 acre that I can setup a Husqvarna automower to take care of the open spots. Then small lawnmower the rest.
#73 ryanflucas
I plan on going for less grass. I'm at about 1.25 acres now. I'd rather have 3/4 to 1 acre that I can setup a Husqvarna automower to take care of the open spots. Then small lawnmower the rest.
22-May-22 5:32pm
#74 kevolones
I live in PR and Ive been browsing for a while now and I can say we have the same problem here.
People are even paying stupid prices for bank reposessed houses way above asking price. Its crazy.
#74 kevolones
I live in PR and Ive been browsing for a while now and I can say we have the same problem here.
People are even paying stupid prices for bank reposessed houses way above asking price. Its crazy.
23-May-22 2:58pm
#75 Chad
My house is worth ~900k +/- 50k, according to zillow and redfin. I owe $14Xk. It's time to sell.
I put in notice at work today, going to finish the work on it over the next couple of months and who knows, I'm close enough to Seattle I could get a bidding war. But even if things start going down, $850k easy, but in a wild world I could see it going $1.1M+.
After taxes, fees, still walking away with over half a million, best case I could walk away with upwards of like $750k.
Plan is to then start a business. Which business depends on how much capital I raise selling. Garage door installer in case crap really hits the fan. CNC-based wood goods manufacturer is mid range. Earth moving company is if I sell for a crap ton.
Short term I'll live with my parents once I sell / have it listed, willing to move cross country after that, though. In large parts of the country $400k can still get you an old Victorian mansion with a giant basement that could easily fit a work shop. Or converted schools or churches could make amazing places to live.
What I will likely be able to get in Washington:
https://www.zillow.c...
https://www.zillow.c...
https://www.zillow.c...
I'd be willing to live those places, but if I look nationally I could end up somewhere like:
https://www.zillow.c...
https://www.zillow.c...
https://www.zillow.c...
https://www.zillow.c...
https://www.zillow.c...
https://www.zillow.c...
https://www.zillow.c...
etc. etc.
I'll probably stay local to Washington but I'm having to consider other places... real estate is so fudgeed on the coasts.
#75 Chad
My house is worth ~900k +/- 50k, according to zillow and redfin. I owe $14Xk. It's time to sell.
I put in notice at work today, going to finish the work on it over the next couple of months and who knows, I'm close enough to Seattle I could get a bidding war. But even if things start going down, $850k easy, but in a wild world I could see it going $1.1M+.
After taxes, fees, still walking away with over half a million, best case I could walk away with upwards of like $750k.
Plan is to then start a business. Which business depends on how much capital I raise selling. Garage door installer in case crap really hits the fan. CNC-based wood goods manufacturer is mid range. Earth moving company is if I sell for a crap ton.
Short term I'll live with my parents once I sell / have it listed, willing to move cross country after that, though. In large parts of the country $400k can still get you an old Victorian mansion with a giant basement that could easily fit a work shop. Or converted schools or churches could make amazing places to live.
What I will likely be able to get in Washington:
https://www.zillow.c...
https://www.zillow.c...
https://www.zillow.c...
I'd be willing to live those places, but if I look nationally I could end up somewhere like:
https://www.zillow.c...
https://www.zillow.c...
https://www.zillow.c...
https://www.zillow.c...
https://www.zillow.c...
https://www.zillow.c...
https://www.zillow.c...
etc. etc.
I'll probably stay local to Washington but I'm having to consider other places... real estate is so fudgeed on the coasts.
23-May-22 6:56pm
#76 loztdogs
Our offer was accepted! Wooooohooooo!
Ready or not Montana, here we come….
https://imgur.com/a/...
#76 loztdogs
Our offer was accepted! Wooooohooooo!
Ready or not Montana, here we come….
https://imgur.com/a/...
23-May-22 8:09pm
#79 John
Indeed! Congrats!
And, Chad, that sounds great! Congrats to you also! And good luck!
#79 John
Indeed! Congrats!
And, Chad, that sounds great! Congrats to you also! And good luck!
This housing market