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Old 09-22-2017, 04:37 PM
 
Location: Back in the Mitten. Formerly NC
3,819 posts, read 5,203,598 times
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Quote:
Originally Posted by eddiehaskell View Post
^ Did you buy another house right after selling in 2013? Sellers market vs buyers market essentially doesn't matter if you are selling your old home to buy another within a few months. Now if someone sold in 2013, went to a rental and now wants to buy again - ouch...could be a negative swing of $150k+.

Looks like homes in Gaston County are selling for more than double what they were in 2009-2012. I've seen pretty basic 3/2 foreclosures that just 5 years ago sold for 40-50k now selling for $130-140k (with maybe $20k in remodeling). Perhaps that's why I hear people talking about decent rentals costing 1k+/month...stuff is too expensive to buy so there's a ton of renters.
No- I rented. I couldn't afford to purchase. I had to bring money to the closing table. If I had known things would have recovered so quickly, I would have been better off living with my parents and leaving the house empty.

I just purchased again back in March. It took me that long to recover financially from the loss I took on my first home. Real estate hasn't been kind to me, lol. Or at least my timing.
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