My neighbors just sold their house. The first offer they got was $50k over asking price.
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Anybody know where the surplus of cheap houses are? They do not appear to be in the liberal cities on the West Coast. Our local paper reported a shortage of houses are causing the increase of prices. Certainly some CA city has to have a ton of vacant houses? Everywhere I have looked in OR, NV, CA, UT and AZ have hot markets also.
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We closed on a place in January 2020 with the intent to rehab and finish a barndominium that was never finished. Well having a baby in March of 2020 and grand designs by my wife put those plans on pause. Around Mother's Day my wife came up with a more realistic scope of renovation work. So since then I have been spending every waking hour when I am not at my job working there. We ordered cabinets, and unfortunately they will not be here until October.......
But I have plenty to work on til then. And if I finish I can start working on my current house. I figure that this winter and next spring will not be as crazy as this spring/summer. But I hope it holds out long enough for us to sell at these prices
I have seen price per sq ft listings of 175 on the low end to 189 within 1/2 mile of our current house. And am not sure if people paid above the ask.
If it all works out close to plan, it would be a huge blessing on our family
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Originally posted by thegrouse View PostAnybody know where the surplus of cheap houses are? They do not appear to be in the liberal cities on the West Coast. Our local paper reported a shortage of houses are causing the increase of prices. Certainly some CA city has to have a ton of vacant houses? Everywhere I have looked in OR, NV, CA, UT and AZ have hot markets also.
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Originally posted by hgiles View PostWonder if the San Antonio market is like that also.
I've been buying rental properties around San Antonio for over 10 years now and the one constant is prices continue to rise. They are currently rising at the fastest pace I have ever seen.
For those waiting on the sidelines for the crash to buy, do you think the prices are going to go down when the crash happens? Is that crash 5 years from now when all the liberals have invaded the state and the current prices have risen another 80 percent from the current levels?
I just have a hard time seeing prices falling. I believe the rate of increase will decline. I can even see the prices go flat for a long period of time. But don't see where the majority of houses in Texas will decline in value at least for the next 5 years. Just my humble opinion.
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Originally posted by HOOKNBULLET2 View PostI just have a hard time seeing prices falling. I believe the rate of increase will decline. I can even see the prices go flat for a long period of time. But don't see where the majority of houses in Texas will decline in value at least for the next 5 years. Just my humble opinion.
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Originally posted by ken800 View PostNever say Never. 2008 left a whole lot of people with a house worth 1/2 (or less) than what they paid for it. This happened in many of the hottest markets...
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Originally posted by ken800 View PostNever say Never. 2008 left a whole lot of people with a house worth 1/2 (or less) than what they paid for it. This happened in many of the hottest markets...
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Originally posted by ken800 View PostNever say Never. 2008 left a whole lot of people with a house worth 1/2 (or less) than what they paid for it. This happened in many of the hottest markets...
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Originally posted by RiverRat1 View PostHouses did not fall 50% in 2008. I think worse case was 30% but even people who bought then made out great if they held for more than 7-8 years.
And the key was "if they held out". A LOT of people lost their jobs and COULDN'T hold out.
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