Real estate rant..... ************!
- Thread starter GeauxLSU
- Start date
Fall 2019, there was still big demand back then, typical you call to see a house and its pending/under contract. My agent knew this house was about to be up and we had it timed right, saw it the first day it was listed and was under contract before the first showing the next day. Closed in 30. I think these folks were a little over their head, bought a huge place up the road and needed to get this house out from under them. And they knew I was a sure thing.
I had looked at this house the year before but they wanted too much, they finally put a new roof, new paint, and a few other things, dropped the price and I got interested in it again.
I had looked at this house the year before but they wanted too much, they finally put a new roof, new paint, and a few other things, dropped the price and I got interested in it again.
It is kind of baffling to me that more people do not buy land and build right now. Building materials are up sure, and construction costs are up etc, but they are maintaining pretty much the same rise in cost of existing homes and with rent thru the roof. I think if I were in the position of having to buy another home to live in, I would seriously look at building. Land prices (while rising) don't seem to be skyrocketing as much as existing homes.
This market right now is so weird, to think you could buy a house with acreage in Cobb county less than ten years ago for under 175K....and now, I am not sure there is a house in Cobb County that is livable for under 200K....
This market right now is so weird, to think you could buy a house with acreage in Cobb county less than ten years ago for under 175K....and now, I am not sure there is a house in Cobb County that is livable for under 200K....
Its crazy for sure, today if you came back to the seller with that list of issues after inspection they would simply say...ok..honey call the next guy on the list. At least thats what happens with the houses selling around me.
Buddy just bought 11 acres in monroe county. Builder and bank told him the house they want would be 20-30% more than it should be before this mess started. Not to mention construction costs depending on the house can be more than the house is actually worth when its all said and done, especially once the market tanks. Banks arent ignoring this. Why would they loan more to build a house than the house will be worth when done.
On the flip side of that, one of my family members is having a new house constructed in Florida, the house has been delayed a couple of months but the purchase price was locked in (new subdivision construction) in the amount of time since the construction started and now (house has a couple of more months to finish) the value of the house is already up over 50K from purchase price. They are thinking about closing and listing same day and pocketing 50K.
Can't say I am not thinking of doing the same with no intention of moving..lol
Its crazy, like house flipping without the rehab...
Heck maybe I should just sell my spot in line for a house for a few K and not even worry about paying for the house..lol
and thats another thing, I've already heard of construction companies breaking contracts because they wont make any money due to the cost of materials going crazy since the contract was signed.
There is a house being built up the street from us and they can only do so much because of waiting on materials, should have been done months ago.
Capital gains will eat up the 50k, and dont they still have to take ownership with some kind of closing? Closing costs may be a pretty penny.
There is a house being built up the street from us and they can only do so much because of waiting on materials, should have been done months ago.
Capital gains will eat up the 50k, and dont they still have to take ownership with some kind of closing? Closing costs may be a pretty penny.
you guys are gonna be flabbergasted when home prices drop by 40% over the next few years. the 08 crash aint got **** on whats to come
Random Zillow rental search in Forsyth county - 2-3k per month for basic homes.....
I think we can kiss the nuclear family with a single wage earning father and stay at home mom goodbye in our lifetime.
The socialists are winning.....
www.zillow.com
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I think we can kiss the nuclear family with a single wage earning father and stay at home mom goodbye in our lifetime.
The socialists are winning.....
Houses For Rent in Forsyth County GA - 217 Homes | Zillow
Zillow has 217 single family rental listings in Forsyth County GA. Use our detailed filters to find the perfect place, then get in touch with the landlord.
www.zillow.com
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thats the plan, price out the middle classRandom Zillow rental search in Forsyth county - 2-3k per month for basic homes.....
I think we can kiss the nuclear family with a single wage earning father and stay at home mom goodbye in our lifetime.
The socialists are winning.....
Houses For Rent in Forsyth County GA - 217 Homes | Zillow
Zillow has 217 single family rental listings in Forsyth County GA. Use our detailed filters to find the perfect place, then get in touch with the landlord.
Sent from my BV4900Pro using Tapatalk
of course whats going to happen is there is going to be alot of renters and alot of people not being able to afford their large 4-5 bedroom homes either. demand from the top drops as folks are forced to rent. it will create a vacuum where wage earner can not buy (not because the price is too high, simply because too many people just wont have any money) and rent will likely be controlled by gov via extending the voucher program so folks can still rent. HUD got rid of the ghettos and instead will bring the ghetto to everyone else
the gov wants their serfs all in one, nice plot.....like cattle in a barn (thats how i see apartment and subdivision life)
