The housing market

Never_Enough

Well-Known Member
Established Member
Joined
Feb 19, 2010
Messages
9,909
Location
PA
Is it just my area or everywhere with limited supply of homes for sale driving up prices to stupid levels? Hell, the new apartments being built in my area cost more to rent than a mortgage on a modest home. WTF?!

Are we due for another crash or do us buyers just need to wait it out till supply catches up? I'm giving it till summer then I might just give up for a while. Wasn't nearly this annoying or expensive when I bought in 2008.

As of now, I have to move to bum **** to get a decent house with 2 car garage. The garage seems to be the killer for where I am looking. I'm not cool with an hour + commute again so no bum **** for me. Maybe if I start working from home again, which is a real possibility come summer.
 

PC03GT

Well-Known Member
Established Member
Joined
Sep 8, 2010
Messages
2,391
Location
delaware
I hear you man, it has been rough. People want stupid ****ing prices out here for barely average houses. We've finally found one after 3 months of looking.
 

MG0h3

Well-Known Member
Established Member
Joined
Jul 23, 2014
Messages
13,685
Location
El Paso, TX
El Paso has been flat since the bust. You'll lose money selling a 5yr old house.
 

96gt02

Well-Known Member
Established Member
Joined
Jan 21, 2015
Messages
1,465
Location
NJ
Same thing happening now here in NJ, very limited supply of decent stuff and prices are rising and anything decent sells right away. Glad I got mine 2 years ago
 

Never_Enough

Well-Known Member
Established Member
Joined
Feb 19, 2010
Messages
9,909
Location
PA
I hear you man, it has been rough. People want stupid ****ing prices out here for barely average houses. We've finally found one after 3 months of looking.
Where in DE are you? I have a friend in Wilmington. I'm near KOP in Chester County. I'd have to move to Coatesville or Oxford, it seems, just for a decent house with a 2 car garage. Plenty of 1 car garage stuff around here, but I have that now. I want 2 again! :D
 

Never_Enough

Well-Known Member
Established Member
Joined
Feb 19, 2010
Messages
9,909
Location
PA
It's a mad house here with the new homes going up and prices.
New homes, lots of townhouses mostly, start at $350k or so around here with a lot of the nice single family homes at $450k+
I'm in a townhouse now. I want back in a single family home.
 

DriftwoodSVT

Si vis pacem, para bellum
Established Member
Joined
May 27, 2006
Messages
8,052
Location
Blanco, TX
That's a good point. We have 8 year car loans now so why not? :D

Glad you remember what I was just talking about.

My wife is a real estate agent with Redfin and daily deals with the crazy market. She had a client recently who was in a multiple offer situation and lost the bid. She asked the listing agent how much the winning bid was. $40,000 over asking price.
 

VegasMichael

Well-Known Member
Established Member
Joined
May 31, 2010
Messages
6,396
Location
Empire State
Vegas is like that too. It sucks for many here because Vegas is mostly a blue collar town. They can't afford a home so they rent a two bedroom apartment and move in a family of 5 or more.
 

Willie2

Well-Known Member
Established Member
Premium Member
Joined
Jul 23, 2008
Messages
2,571
Location
Houston
08 was after the crash. if you bought back in 06-07 you would be experiencing about the same level of madness.
 

VenomVeins

Well-Known Member
Established Member
Joined
Dec 2, 2012
Messages
1,713
Location
San Diego, CA
Im in Carlsbad (San Diego) and bought my upgraded townhome early last year. The one right next to me that is original 1989 EVERYTHING (needs a full gut job) just sold for 100,000 more than i bought mine for. Crazy.

Apparently there was a multiple bid war as well, since the neighborhood i live in boasts some of the best schools and is considered to be somewhat high end. Im licking my chops to see what my kickass joint will bring in next year.

At the 2 year mark (to avoid capitol gains tax) im selling mine for a HUGE profit and buying a place in AZ or Nevada.
 
Last edited:

jeffh81

Here’s KingBlack
Established Member
Joined
Sep 4, 2015
Messages
8,870
Location
Home
In the area Im watching Willis,Tx the same house has been sitting for 6 months and has been dropping in price to the point my wife and i are going to look at it.

Where im at now Galveston,tx we have seen such an expansion the city had to pass an ordinance to stop building. My rent is more than im looking at payinf for a mortgage
 

Outlaw99

Join us.
Moderator
Premium Member
Joined
Oct 10, 2002
Messages
18,103
Location
North Carolina
Asheville is crazy. Some of my clients are having to rent because they're arent enough homes to buy. Homes go under contract with in 24 hours with competing offers. My most recent listing, i have 3 offers before i even have a chance to get it listed. Its absolutely a sellers market.

Sent from my Schlong using the svtperformance.com mobile app
 

IronSnake

Beers for the boys
Established Member
Joined
Aug 30, 2006
Messages
4,337
Location
South Carolina
Well I bought a house that brought 198k in 2008 for 239k. This is what Zillow says about my area..

The median list price per square foot in Charleston is $193, which is higher than the Charleston Metroaverage of $158. The median price of homes currently listed in Charleston is $383,000 while the median price of homes that sold is $284,400. The median rent price in Charleston is $1,850, which is higher than the Charleston Metro median of $1,550.

I have about 2k square feet, 2 stall garage, county (less taxes) etc. House is already valued around 260k in less then a year of owning it. For it's size/location, it's a 275k-300k house all day with some upgrades and area improvements. So yea.. I feel your pain. Took us a while to even find a house under 250k.
 

PC03GT

Well-Known Member
Established Member
Joined
Sep 8, 2010
Messages
2,391
Location
delaware
Where in DE are you? I have a friend in Wilmington. I'm near KOP in Chester County. I'd have to move to Coatesville or Oxford, it seems, just for a decent house with a 2 car garage. Plenty of 1 car garage stuff around here, but I have that now. I want 2 again! :D

I'm in Smyrna right now, the house I'm buying is in Middletown. It's a nice house on 2.5 acres, I'm upgrading from a 1 car garage to 3...I beat them up on the price pretty good:D
 

Users who are viewing this thread



Top