Home prices

[beecee]

We bought our current house before Covid but could not get the renovations needed for a year...mostly removal of tile embedded in concrete in kitchen...(wife has asthma)....

So we owned 2 houses for about a year. We paid 2x for new house vs old which we bought 14 years ago...a steal at our last RE bubble.

Figured we'd have a $100,000 delta between new house and old but new house was worth it.

Well the market went crazy by the time we were ready to sell. The old house sold for more than we paid for the new one...within an hour...for $30,000 over list w. no inspection or finance contingency. We were planning on $30,000 in fixes prior to putting on market but Broker said put it on first without.

Got lucky.

 

[dreadnut]

So I guess it's a seller's market right now.

 

[Haydepunch]

Nothing is surprising because the cost of houses has increased dramatically, probably not. It is normal for a time of crisis, but it's worth thinking about whether there will be a fall in price in the future or prices will continue to rise. I am very glad that I managed to buy my house very profitably a couple of years ago and now I don't need to worry about it. In addition, I recently went to https://goodlifehomeloans.com/reverse-mortgages/, and I found out about reverse mortgages, which are also very nice for homeowners.

 

[Westerly Wood]

There is still very low inventory in our neck of woods. The market is slowing down a bit, but prices for 4 bdrms are insane still.
We are considering downsizing but it's a slow roll as there is so little homes to consider. But one should still be able to sell their homes at a really good price for a while yet. I doubt it bursts till well into 2023 but I am not a visionary so....

 

[Charlie Bernstein]

Holy cow, I wouldn't want to be trying to buy a home right now! Prices are unbelievable. And homes around here are considered to be more affordable. . . .

Houses: expensive.

Homes: priceless.

 

[dreadnut]

Halfway Home Cafe," Ricky Skaggs

 

[Guildedagain]

Been cruising FB more looking for a car for neighbor.

Looking at houses a bit with the other "pick of the day" ads, I saw a small house with terrible curb appeal - horrible yard - in a small town north of here listed for $400,000.

My neighbors down the road are having to deal with a psycho who split the land he bought bordering their property into small parcels, all for sale $7000 an acre, no trees, no water, $7000 an acre.

Drove down to the lake yesterday unsuccessfully chasing the mailman, and I saw all the new "home sites" above the lake, people living in RV's, nuts.

If you've ever been in an RV, it's as hot or cold as it is outside. 100º outside, prob 110º inside. - 20º outside, -20º inside. One step beyond "RV homelessness", living in one on a sand hill, 15 miles from the nearest town, susceptible to wildland fire, landslides, pet eating coyotes, etc.

The American Dream is slipping away for many. My kid will never own a home, ans there's no amount of money I can come up with that will help her. Trapped in a cycle of renting in a sh*tty neighborhood, lucky to have a roof over their heads.

 

[JohnW63]

$7000 an acre would be such a steal here. I would guess $50k-$100K is the going rate these days. Unless you go well out of town.

Here is a 5 acre lot that has been surrounded by other houses. Now it only has access to a road on one side. Someone would have to want a big lot, for this area or have a cul-de-sac road created and subdivide.

19446 Shoshonee Rd, Apple Valley, CA 92307 | realtor.com®

19446 Shoshonee Rd, Apple Valley, CA 92307 is for sale. View 1 photos of this 5.47 acre lot land with a list price of $450000.

www.realtor.com

Of course, just because it's listed for this price doesn't mean they will get that much. I spent some time on the site trying to find lots that weren't way out in the sticks.