Housing pricing in Midland/Odessa

[CrookedArrow]

Yeah like crazy stupid on pricing. We received our appraisal yesterday. We purchased the house 28 yrs ago for $62,500.00

Now? $215,000 is the appraisal. Yeah more taxes but I will not fight it. Housing is crazy right now around here. People are offering OVER the asking price to get into a house.

[Black Ice]

Housing pricing in Midland/Odessa

Yeah like crazy stupid on pricing. We received our appraisal yesterday. We purchased the house 28 yrs ago for $62,500.00



Now? $215,000[emoji33] is the appraisal. Yeah more taxes but I will not fight it. Housing is crazy right now around here. People are offering OVER the asking price to get into a house.

My house went up 100k in 6 years in Baton Rouge. Not a bad thing but I’ll end up giving it back when I buy a new one.


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[CrookedArrow]

My house went up 100k in 6 years in Baton Rouge.


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Holy Moly that's crazy

[mmoses]

Why not fight your taxes

[boh347]

Bro been trying to tell you to sell and buy around here.

[ladrones]

When the next bust cycle comes those paying to much for a house will be bailing.

[Fishndude]

It’s that way most everywhere right now. Sell and you’ll be in the ridiculous asking price or over crowd.

[tps7742]

So they can't raise taxes, but they can control the valuation of our property to get the money they want from us. As already stated, if you sell replacing it will definitely have you paying with the over priced crowd.

[CrookedArrow]

When the next bust cycle comes those paying to much for a house will be bailing.

Yep. It's a vicious cycle for sure.

[bphillips]

It’s really crazy there. I turned down a position twice there because I would spend way more just to downgrade housing by moving. To make a lateral move would cost me $100k+

Not only that but they don’t last on the market either unless they’re priced ridiculous

[one66stang]

I bought my place in Midland 13 years ago. 15 acres and a house. I sold 10 acres and kept 5 acres and the house last year for 30k more than it cost when I bought it.

I sold it because of the taxes, Rape I tell ya.

[westTXgirl]

When we moved 3 years ago we sold our house for $100k more than we bought it for 10 years before. And it wasn’t even booming like it is now!


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[Clayton]

Over 28 years that's less than 5% return per year which may put the appraisal in perspective. But you are correct, Midland's housing prices are inflated because of the oil and gas industry (certainly not because of the scenery).

[BuckSmasher]

My house went up 100k in 6 years in Baton Rouge. Not a bad thing but I’ll end up giving it back when I buy a new one.


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You aren't learning to tell your wife "No"?

[CrookedArrow]

Over 28 years that's less than 5% return per year which may put the appraisal in perspective. But you are correct, Midland's housing prices are inflated because of the oil and gas industry (certainly not because of the scenery).

Yep hotel rooms are 400 to 500 per night here.